Nippon Life India Asset Management Limited has informed the Exchange regarding Cessation of Mr Kosuke Kuroishi as Non-Executive Director of the company w.e.f. April 27, 2026.
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Nippon Life India Asset Management Limited held its Board meeting on April 27, 2026, approving multiple items. Financially, the company reported standalone profit after tax of ₹1,497.75 crore for FY2026, up 19.6% from ₹1,252.23 crore in FY2025, with total income of ₹2,742.11 crore. The Board recommended a final dividend of ₹12.50 per share, taking total dividend for FY2025-26 to ₹21.50 per share (including ₹9 interim dividend). In governance changes, Mr. Kosuke Kuroishi resigned as Non-Executive Director due to change in Nippon Life Insurance (NLI) management team, and Mr. Hironao Kunita was appointed as Additional Non-Executive Director (Nominee of NLI, the Promoter). Mr. Sundeep Sikka assumed office as MD & CEO for a fresh 5-year term. Additionally, Mr. Saugata Chatterjee was appointed Deputy CEO, Mr. Mohit Shetty will become CHRO from June 1, 2026, and Mr. Rajesh Derhgawen will superannuate as CHRO on May 31, 2026. The Board also approved a new Employee Stock Option Scheme 2026 with 91.72 lakh options and granted stock options/units under existing schemes.
The company delivered strong financial results with nearly 20% profit growth, and the increased dividend is positive for shareholders. The director change represents routine replacement within the promoter group (NLI), with Mr. Kunita taking over from Mr. Kuroishi, and is not expected to impact governance or operations.