Manages investment portfolios on behalf of individual and institutional investors, primarily through mutual funds, exchange-traded funds (ETFs), and alternative investment funds (AIFs). Revenue is earned as a percentage fee on assets under management (AUM), so the scale of the business is best read through AUM rather than sales. In Q1 FY27, mutual fund quarterly average AUM stood at INR 7.52 trillion (+22.7% YoY), giving a 9.04% share of the Indian mutual fund industry (highest since June 2019), with equity AUM share at 7.38% and 24.1 million unique investors. The ETF franchise held INR 2.43 trillion in AUM with a 21.35% industry share, and the AIF business carried INR 95.8 bn in cumulative commitments. The company also runs a 78%-digital purchase channel and operates through a joint venture in which DWS Group is taking a 40% stake in the AIF subsidiary, pending regulatory approvals. Operating costs are dominated by people (18.7% of FY26 revenue) and other operating expenses including marketing and distribution (12.2%), with negligible raw material cost since this is a fee-based financial services business rather than a manufacturing one. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Mutual fund management fees, ETF management fees, AIF and alternative investment fees, Advisory and other income. Asset-light, fee-based financial services; AUM-linked revenues with high operating margins and no raw material cost.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,307 | 1,350 | 1,643 | 2,231 | 2,709 |
| EBITDA (ex other income) | 791 | 795 | 994 | 1,442 | 1,795 |
| margin % | 60.5 | 58.9 | 60.5 | 64.6 | 66.3 |
| Owners' profit | 744 | 0 | 0 | 1,286 | 1,529 |
| EPS, as reported (₹) | 12.00 | 11.61 | 17.71 | 20.34 | 24.05 |
| ROE % · ROCE % | 21.4 · — | 20.6 · — | 27.8 · — | 30.5 · — | 32.8 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 580 | 584 | 777 | 1,200 | 1,466 |
| Capex | (7) | (10) | (12) | (539) | (79) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 571 | 588 | 567 | 607 | 658 | 705 | 739 | 767 |
| Profit before tax | 486 | 392 | 378 | 524 | 456 | 533 | 460 | 664 |
| Net profit | 360 | 295 | 299 | 396 | 345 | 404 | 385 | 504 |
| EPS (₹) | 5.69 | 4.66 | 4.71 | 6.24 | 5.42 | 6.34 | 6.04 | 7.89 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ICICI PRUDENTIAL AMC LTD | 1,50,265 | 56.8 | 36.02 | — | 79.1 | — | — | 84.0 |
| HDFC AMC LIMITED | 1,03,046 | 28.1 | 11.17 | 27.1 | 31.0 | — | — | 101.2 |
| NIPPON L I A M LTD ◆ | 76,051 | 46.3 | 16.32 | 37.7 | 32.8 | — | 20.6 | 88.4 |
| ADIT BIRL SUN LIF AMC LTD | 31,436 | 31.2 | 7.78 | 23.8 | 24.1 | — | — | 90.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · NAM India to attend BofA Securities Asia Pacific Conference on Sep 24, 2026 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · NAM-INDIA to attend CITIC CLSA Investors Forum in Hong Kong on Sep 23, 2026 | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Nippon Life India AMC to attend Anand Rathi G-200 Summit on Sep 22 | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Nippon Life India AMC to attend J.P. Morgan India Conference on Sept 21, 2026 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · NAM India shares analyst meet presentation; Q1 FY27 PAT at INR 5.04 bn | investor communications | medium | — | — |
| 31 Aug 2026 · Nippon Life India shares analyst day presentation; Q1 PAT up 27% YoY | investor communications | medium | — | — |
| 25 Aug 2026 · Investor meet scheduled for September 3, 2026 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · NAM India announces analyst group meeting on August 31, 2026 | board shareholder meetings | low | — | — |
| 21 Aug 2026 · ESOP allotment of 63,529 shares to employees | capital market events | low | — | — |
| 19 Aug 2026 · Nippon Life India AMC to hold non-deal roadshow with Nomura in Tokyo on Aug 24-25 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| UTI ASSET MNGMT CO LTD | 11,702 | 25.4 | 2.60 | 16.3 | 10.5 | — | 7.8 | 65.9 |
| CANARA ROBECO AMC LIMITED | 4,774 | 17.1 | 6.40 | — | 27.3 | 35.9 | — | 88.2 |
| SHRIRAM ASSET MANAGEMENT CO.LT | 453 | — | 2.97 | — | (13.3) | — | — | (370.7) |
| IL&FS INVESTMENT MANAGERS | 287 | 57.2 | 1.36 | 30.9 | 2.3 | — | 3.5 | 36.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 46.3 | 31.2 | 5 of 7 | 33% |
| P/B | 16.3 | 7.1 | 7 of 8 | 14% |
| ROE | 32.8 | 25.7 | 2 of 8 | 86% |
| Debt / Equity | 0.0 | 0.0 | 1 of 8 | 0% |
| EBITDA margin | 88.4 | 86.1 | 3 of 8 | 71% |
| Revenue growth | 26.4 | 20.0 | 3 of 6 | 60% |
| Profit growth | 27.2 | 13.9 | 2 of 6 | 80% |
| Market cap | 76051 | 21569 | 3 of 8 | 71% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
