Please find enclosed the transcript of the earnings call held on April 28, 2025.
Awaiting price reaction for this filing.
Nippon Life India Asset Management (NAM-India) reported record FY25 results with highest-ever annual PAT of INR 12.86 bn (up 16% YoY) and operating profit of INR 14.04 bn (up 47% YoY). Q4 FY25 revenue grew 21% YoY to INR 5.67 bn, while PAT stood at INR 2.99 bn. Total AUM reached INR 6.54 trillion with mutual fund QAAUM at INR 5.57 trillion (up 29.2% YoY). SIP market share doubled to 10.16% from 5.15% over three years. ETF market share rose to 19.07% (up 236 bps YoY). The Board declared total dividend of INR 18/share (~91% payout). Management guided FY26 cost growth of ~15% ex-ESOP, with ESOP expenses expected at INR 48-49 crores. The April 10 cyber attack had minimal business impact as systems were quickly restored.
Record profits, strong AUM growth, and best-in-class SIP market share gains signal continued positive momentum for shareholders. The ~91% dividend payout is highly shareholder-friendly, though 15% cost growth guidance and 2-3 bps annual blended yield decline suggest some near-term margin headwinds to monitor.