NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED Financials Nippon Life India Asset Management Limited
Equities
NAM-INDIA
INE298J01013
Investment Management & Fund Operators
|
End-of-day quote
Other stock markets
|
5-day change | 1st Jan Change | ||
| 580.1 INR | -0.23% |
|
+3.38% | +29.53% |
| Apr. 25 | Jefferies Adjusts Nippon Life India’s Price Target to INR680 From INR610, Keeps at Buy | MT |
| Apr. 24 | Transcript : Nippon Life India Asset Management Limited, Q4 2024 Earnings Call, Apr 24, 2024 |
Valuation
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 128,336 | 152,528 | 208,564 | 216,245 | 130,898 | 365,729 | - | - |
| Enterprise Value (EV) 1 | 122,909 | 128,767 | 204,957 | 212,860 | 130,898 | 296,824 | 365,729 | 365,729 |
| P/E ratio | 26.4 x | 37.2 x | 31 x | 29.5 x | 18.2 x | 26.9 x | 30.8 x | 27.3 x |
| Yield | 2.86% | 2.01% | 2.36% | 3.16% | 5.47% | 2.37% | 2.98% | 3.15% |
| Capitalization / Revenue | 7.78 x | 12.8 x | 14.7 x | 14.1 x | 8.63 x | 14.6 x | 15.7 x | 14.1 x |
| EV / Revenue | 7.78 x | 12.8 x | 14.7 x | 14.1 x | 8.63 x | 14.6 x | 15.7 x | 14.1 x |
| EV / EBITDA | 18,067,660 x | 25,475,239 x | 37,409,162 x | 21,286,215 x | 13,613,937 x | - | 25,386,378 x | 21,514,727 x |
| EV / FCF | 34 x | 25.4 x | 47.8 x | 37.8 x | 22.8 x | 60.7 x | 33 x | 30.2 x |
| FCF Yield | 2.94% | 3.94% | 2.09% | 2.65% | 4.38% | 1.65% | 3.03% | 3.31% |
| Price to Book | 4.99 x | 5.88 x | 6.73 x | 6.22 x | 3.72 x | 10.1 x | 8.94 x | 8.83 x |
| Nbr of stocks (in thousands) | 612,000 | 612,070 | 616,505 | 622,018 | 623,175 | 630,458 | - | - |
| Reference price 2 | 209.7 | 249.2 | 338.3 | 347.6 | 210.0 | 580.1 | 580.1 | 580.1 |
| Announcement Date | 4/29/19 | 5/15/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 16,499 | 11,932 | 14,193 | 15,356 | 15,166 | 20,373 | 23,254 | 25,880 |
| EBITDA | 7,103 | 5,987 | 5,575 | 10,159 | 9,615 | - | 14,406 | 16,999 |
| EBIT 1 | 7,002 | 5,557 | 8,814 | 9,925 | 7,610 | 13,879 | 13,476 | 15,758 |
| Operating Margin | 42.44% | 46.57% | 62.1% | 64.63% | 50.17% | 68.12% | 57.95% | 60.89% |
| Earnings before Tax (EBT) 1 | 7,002 | 5,598 | 8,770 | 9,887 | 9,277 | 13,525 | 15,425 | 17,500 |
| Net income 1 | 4,861 | 4,152 | 6,794 | 7,442 | 7,233 | 11,073 | 11,913 | 13,355 |
| Net margin | 29.46% | 34.8% | 47.87% | 48.46% | 47.69% | 54.35% | 51.23% | 51.6% |
| EPS 2 | 7.940 | 6.690 | 10.90 | 11.80 | 11.53 | 17.53 | 18.84 | 21.23 |
| Free Cash Flow 1 | 3,775 | 6,009 | 4,363 | 5,727 | 5,737 | 6,021 | 11,072 | 12,090 |
| FCF margin | 22.88% | 50.36% | 30.74% | 37.3% | 37.83% | 30.35% | 47.61% | 46.72% |
| FCF Conversion (EBITDA) | 53.15% | 100.36% | 78.26% | 56.38% | 59.67% | - | 76.85% | 71.12% |
| FCF Conversion (Net income) | 77.67% | 144.71% | 64.22% | 76.96% | 79.32% | 59.23% | 92.94% | 90.53% |
| Dividend per Share 2 | 6.000 | 5.000 | 8.000 | 11.00 | 11.50 | 13.73 | 17.29 | 18.26 |
| Announcement Date | 4/29/19 | 5/15/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,988 | 3,620 | 3,692 | 3,279 | 3,385 | 3,724 | 2,994 | 4,135 | 3,538 | 3,880 | 4,710 | 4,221 | 4,627 | 4,902 | 5,410 |
| EBITDA 1 | 1,470 | 1,659 | - | 1,933 | 2,122 | - | - | - | - | 2,485 | 3,193 | 2,678 | - | - | - |
| EBIT 1 | - | 2,188 | 1,700 | - | 2,057 | 2,355 | 1,713 | 1,856 | 2,045 | 1,995 | 1,931 | 2,233 | 2,567 | 2,808 | - |
| Operating Margin | - | 60.45% | 46.06% | - | 60.77% | 63.23% | 57.23% | 44.9% | 57.79% | 51.42% | 40.99% | 52.91% | 55.48% | 57.29% | - |
| Earnings before Tax (EBT) 1 | 2,685 | 2,179 | 2,360 | 2,828 | 2,355 | 2,344 | 1,546 | - | 2,664 | 2,392 | 3,099 | 2,651 | 2,812 | 3,308 | 3,463 |
| Net income 1 | 2,120 | 1,665 | 1,815 | 2,137 | 1,740 | 1,748 | 1,141 | 2,061 | 2,052 | 1,980 | 2,357 | 2,172 | 2,417 | 2,739 | 2,667 |
| Net margin | 53.14% | 46% | 49.17% | 65.18% | 51.41% | 46.95% | 38.11% | 49.84% | 57.99% | 51.03% | 50.04% | 51.46% | 52.25% | 55.87% | 49.3% |
| EPS 2 | - | - | - | - | - | - | - | - | 3.270 | 3.170 | 3.770 | 3.600 | 4.000 | 4.367 | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 1/27/21 | 4/27/21 | 7/19/21 | 10/26/21 | 1/27/22 | 4/26/22 | 7/28/22 | 10/19/22 | 1/30/23 | 4/25/23 | 7/27/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt | - | - | - | - | - | - | - | - |
| Net Cash position | 5,428 | 23,761 | 3,606 | 3,384 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 3,775 | 6,009 | 4,363 | 5,727 | 5,737 | 6,021 | 11,072 | 12,091 |
| ROE (net income / shareholders' equity) | 19.4% | 16.1% | 23.9% | 22.6% | 20.7% | 28.2% | 29.2% | 31.7% |
| ROA (Net income/ Total Assets) | 17.7% | 14.7% | 21.7% | 20.7% | 18.9% | 26% | 24.9% | 26.4% |
| Assets 1 | 27,491 | 28,283 | 31,365 | 35,944 | 38,287 | 39,098 | 47,939 | 50,539 |
| Book Value Per Share 2 | 42.00 | 42.40 | 50.30 | 55.90 | 56.40 | 57.50 | 64.90 | 65.70 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 85.3 | 40.4 | 197 | 68.2 | 104 | 468 | 372 | 795 |
| Capex / Sales | 0.52% | 0.34% | 1.39% | 0.44% | 0.68% | 2.36% | 1.6% | 3.07% |
| Announcement Date | 4/29/19 | 5/15/20 | 4/27/21 | 4/26/22 | 4/25/23 | 4/24/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
580.1
INR
Average target price
611.4
INR
Spread / Average Target
+5.40%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +29.53% | 4.39B | |
| +15.32% | 84.55B | |
| +12.36% | 26.01B | |
| -6.65% | 17.28B | |
| +13.32% | 16.57B | |
| +6.74% | 14.28B | |
| -16.11% | 13.16B | |
| +16.00% | 9.52B | |
| +26.11% | 8.75B | |
| +27.22% | 7.13B |
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