Nippon Life India Asset Management Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Nippon Life India Asset Management has allotted 9,96,370 equity shares under ESOP on 20 November 2023. With this allotment, paid up equity share capital has increased to 62,58,73,550 equity shares of Rs 10 each.

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Nippon Life India Asset Mgt. announced that the Board of Directors of the Company at its meeting held on 30 October 2023, inter alia, have recommended the interim dividend of Rs 5.5 per equity Share (i.e. 55%) , subject to the approval of the shareholders.

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Revenue from operations jumped by 20% year-over-year to Rs 397.5 crore during the period under review.

Operating expenditure rose by 13% to Rs 165 crore in Q2 FY24 over Q2 FY23, due to higher employee benefits (up 4% YoY), higher other expenses (up 27% YoY) and higher fees & commissions (up 12% YoY).

Employee expenses, other expenses and fees & commissions accounted for 48%, 37% and 9% of the company’s operating expenditure.

Profit before tax in Q2 FY24 stood at Rs 310.4 crore, up by 16% from Rs 267.6 crore in Q2 FY23.

As on 30 September 2023, NAM India’s assets under management stood at Rs 4.35 trillion (US$ 52.4 billion).

For the quarter ended 30 September 2023, NIMF’s average assets under management stood at Rs 3.51 trillion (US$ 42.2 billion) - an increase of 23.0% YoY and 11.8 QoQ.

For the quarter ended 30 September 2023, share of equity assets rose to 46.8% of NIMF’s AUM as against 43.5% as on 30 September 2022.

NIMF has one of the largest retail assets in the industry, at Rs 1,099 billion (US$ 13.2 billion). Retail assets contributed 30% to NIMF’s AUM as compared with the industry average of 26%.

Sundeep Sikka, ED & CEO, NAM India, said “We continue to witness an uptick in overall market share, driven by gains across most asset classes – with a strong increase in equity market share. We are humbled to have the trust of 14.6 mn unique investors i.e. 1 in every 3 mutual fund investors - highest in the Industry.

We will continue to focus on sustainable profitable growth for shareholders by growing both the Mutual Fund and non-Mutual Fund businesses.”

Nippon Life India Asset Management (NAM India) is the asset manager of Nippon India Mutual Fund (NIMF). The company is one of the largest asset managers in India, managing (directly & indirectly) assets across mutual funds including Exchange Traded Funds, managed accounts, including portfolio management services, alternative investments funds, and offshore funds and advisory mandates.

The scrip shed 0.42% to end at Rs 370.55 on the BSE today.

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Net profit of Nippon Life India Asset Management rose 18.61% to Rs 244.41 crore in the quarter ended September 2023 as against Rs 206.07 crore during the previous quarter ended September 2022. Sales rose 19.88% to Rs 397.48 crore in the quarter ended September 2023 as against Rs 331.57 crore during the previous quarter ended September 2022.

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