NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED

Income Statement Nippon Life India Asset Management Limited

Equities

NAM-INDIA

INE298J01013

Investment Management & Fund Operators

End-of-day quote NSE India S.E. Other stock markets 06/03/2026			5-day change	1st Jan Change
860.25 ^INR	-0.05%		-7.62%	-2.21%

02-10	Petfully Yours Private Limited announced that it has received INR 2.71 billion in funding from a group of investors	CI
02-02	Nomura Adjusts Nippon Life India Asset Management's Price Target to INR1,050 From INR1,000, Keeps at Buy	MT

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Published financial data: NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	10.62B	13.07B	13.5B	16.43B	22.31B
Gain (Loss) on Sale of Investment, Total (Rev)	3.27B	2.02B	1.39B	3.64B	2.53B
Interest And Invest. Income (Rev)	296M	251M	233M	288M	344M
Other Revenues, Total	7.5M	22.8M	49.2M	16.9M	25.1M
Total Revenues	14.19B	15.36B	15.17B	20.37B	25.21B
Cost of Goods Sold, Total	2.74B	2.91B	3.03B	3.4B	4.32B
Gross Profit	11.45B	12.44B	12.14B	16.97B	20.89B
Selling General & Admin Expenses, Total	684M	780M	882M	1.22B	1.31B
Depreciation & Amortization - (IS)	333M	272M	298M	291M	306M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	1.61B	1.47B	1.64B	1.88B	2.27B
Other Operating Expenses, Total	2.63B	2.52B	2.82B	3.38B	3.88B
Operating Income	8.82B	9.93B	9.32B	13.58B	17.01B
Interest Expense, Total	-44.3M	-38.2M	-39.7M	-62.4M	-67.4M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-44.3M	-38.2M	-39.7M	-62.4M	-67.4M
Income (Loss) On Equity Invest.	9.4M	7.9M	4M	10.7M	6.6M
Currency Exchange Gains (Loss)	-3.4M	-500K	-6.7M	2.7M	2.7M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	8.78B	9.89B	9.28B	13.54B	16.95B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
EBT, Incl. Unusual Items	8.78B	9.89B	9.28B	13.54B	16.95B
Income Tax Expense	1.98B	2.45B	2.05B	2.46B	4.09B
Earnings From Continuing Operations	6.8B	7.44B	7.23B	11.07B	12.86B
Net Income to Company	6.8B	7.44B	7.23B	11.07B	12.86B
Minority Interest	-	-	-	-	-
Net Income - (IS)	6.8B	7.44B	7.23B	11.07B	12.86B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	6.8B	7.44B	7.23B	11.07B	12.86B
Net Income to Common Excl. Extra Items	6.8B	7.44B	7.23B	11.07B	12.86B
Per Share Items
Net EPS - Basic	11.04	12	11.61	17.71	20.33
Basic EPS - Continuing Operations	11.04	12	11.61	17.71	20.33
Basic Weighted Average Shares Outstanding	617M	620M	623M	625M	633M
Net EPS - Diluted	10.9	11.8	11.53	17.53	20.03
Diluted EPS - Continuing Operations	10.9	11.8	11.53	17.53	20.03
Diluted Weighted Average Shares Outstanding	624M	630M	627M	632M	643M
Normalized Basic EPS	8.9	9.97	9.31	13.53	16.74
Normalized Diluted EPS	8.79	9.81	9.25	13.39	16.49
Dividend Per Share	8	11	11.5	16.5	18
Payout Ratio	45.03	70.73	99	73.25	93.4
Supplemental Items
EBITDA	8.89B	9.98B	9.38B	13.64B	17.09B
EBITA	8.82B	9.93B	9.32B	13.58B	17.01B
EBIT	8.82B	9.93B	9.32B	13.58B	17.01B
EBITDAR	8.9B	9.98B	9.38B	13.73B	17.1B
Total Revenues (As Reported)	14.19B	15.36B	15.17B	20.37B	25.21B
Effective Tax Rate - (Ratio)	22.51	24.79	22.07	18.19	24.11
Total Current Taxes	1.57B	2.07B	2.12B	2.28B	3.78B
Total Deferred Taxes	402M	386M	-73.3M	186M	310M
Normalized Net Income	5.49B	6.18B	5.8B	8.46B	10.59B
Interest on Long-Term Debt	44.3M	38.2M	39.7M	62.4M	67.4M
Non-Cash Pension Expense	900K	-400K	-400K	700K	500K
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	242M	261M	377M	513M	581M
Selling and Marketing Expenses	242M	261M	377M	513M	581M
General and Administrative Expenses	432M	513M	500M	620M	718M
Net Rental Expense, Total	9M	5.6M	3.9M	84.5M	8M
Imputed Operating Lease Interest Expense	4.8M	3.47M	2.4M	62.68M	5.18M
Imputed Operating Lease Depreciation	4.2M	2.13M	1.5M	21.82M	2.82M
Maintenance & Repair Expenses, Total	31.7M	10.8M	21.3M	43.7M	25.4M
Stock-Based Comp., COGS (Total)	404M	374M	213M	74.9M	426M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	404M	374M	213M	74.9M	426M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	188M	479M	213M	242M	266M
Short Term Investments	3.26B	2.74B	2.44B	2.27B	2.38B
Trading Asset Securities, Total	24.27B	28.18B	28.99B	33.88B	31.98B
Total Cash And Short Term Investments	27.72B	31.4B	31.65B	36.4B	34.63B
Accounts Receivable, Total	544M	875M	1.01B	1.37B	775M
Other Receivables	157M	172M	418M	396M	334M
Notes Receivable	7.3M	3.7M	500K	300K	1.6M
Total Receivables	709M	1.05B	1.43B	1.76B	1.11B
Prepaid Expenses	521M	563M	844M	589M	429M
Other Current Assets, Total	604M	627M	180M	292M	382M
Total Current Assets	29.55B	33.64B	34.1B	39.04B	36.55B
Gross Property Plant And Equipment	1.12B	1.14B	1.38B	1.69B	6.75B
Accumulated Depreciation	-581M	-648M	-750M	-774M	-451M
Net Property Plant And Equipment	534M	492M	631M	920M	6.29B
Long-term Investments	1.23B	1.24B	1.24B	1.25B	1.25B
Other Intangibles, Total	2.49B	2.47B	2.44B	2.41B	2.42B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	120M	126M	194M	135M	184M
Total Assets	33.92B	37.97B	38.61B	43.75B	46.7B
Liabilities
Accounts Payable, Total	629M	560M	662M	496M	589M
Accrued Expenses, Total	474M	423M	431M	606M	632M
Current Portion of Leases	515M	472M	-	18.4M	20.5M
Current Income Taxes Payable	-	-	253M	68.1M	-
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	681M	754M	4.2M	5.3M	5.5M
Total Current Liabilities	2.3B	2.21B	1.35B	1.19B	1.25B
Long-Term Leases	-	-	560M	768M	860M
Unearned Revenue Non Current	73.2M	72.1M	73.1M	45.4M	22.4M
Pension & Other Post Retirement Benefits	-	9.9M	9.5M	7.2M	30.5M
Deferred Tax Liability Non Current	396M	782M	708M	894M	1.2B
Other Non Current Liabilities	147M	108M	752M	1.02B	1.21B
Total Liabilities	2.91B	3.18B	3.45B	3.93B	4.57B
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	6.16B	6.22B	6.23B	6.3B	6.35B
Additional Paid In Capital	6.76B	8.09B	8.38B	10.14B	11.49B
Retained Earnings	16.71B	18.89B	18.87B	21.84B	22.7B
Comprehensive Income and Other	1.37B	1.59B	1.68B	1.53B	1.6B
Total Common Equity	31.01B	34.79B	35.16B	39.82B	42.13B
Minority Interest	-	-	-	-	-
Total Equity	31.01B	34.79B	35.16B	39.82B	42.13B
Total Liabilities And Equity	33.92B	37.97B	38.61B	43.75B	46.7B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	617M	622M	623M	630M	635M
ECS Total Common Shares Outstanding	617M	622M	623M	630M	635M
Book Value / Share	50.3	55.92	56.41	63.21	66.38
Tangible Book Value	28.52B	32.32B	32.71B	37.41B	39.71B
Tangible Book Value Per Share	46.26	51.96	52.5	59.39	62.56
Total Debt	515M	472M	560M	786M	880M
Net Debt	-27.2B	-30.93B	-31.09B	-35.61B	-33.74B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-6.6M	-5.8M	9.5M	7.2M	30.5M
Debt Equivalent Oper. Leases	72M	44.8M	31.2M	676M	64M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Buildings, Total	-	-	-	-	5.17B
Machinery, Total	290M	295M	344M	417M	554M
Full Time Employees	705	652	1.01K	1K	1.1K

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	6.8B	7.44B	7.23B	11.07B	12.86B
Depreciation & Amortization - CF	296M	230M	241M	255M	297M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	296M	230M	241M	255M	297M
Amortization of Deferred Charges, Total - (CF)	37.1M	42.6M	57.2M	36.6M	9.3M
(Gain) Loss From Sale Of Asset	5.2M	-17.1M	-7M	-5M	-9.9M
(Gain) Loss on Sale of Investments - (CF)	-3.27B	-2.02B	-1.39B	-3.64B	-2.53B
Stock-Based Compensation (CF)	404M	374M	213M	74.9M	426M
Other Operating Activities, Total	-20.2M	152M	130M	-297M	-15.9M
Change In Accounts Receivable	134M	-295M	-215M	-334M	596M
Change In Accounts Payable	-48.1M	-69.2M	102M	-161M	88.3M
Change in Other Net Operating Assets	217M	-46.7M	-528M	770M	272M
Cash from Operations	4.56B	5.8B	5.84B	7.77B	12B
Capital Expenditure	-197M	-68.2M	-104M	-119M	-5.41B
Sale of Property, Plant, and Equipment	500K	500K	2.1M	3.3M	6.3M
Investment in Marketable and Equity Securities, Total	-4.2B	-1.4B	792M	-1.2B	4.25B
Other Investing Activities, Total	376M	220M	318M	278M	340M
Cash from Investing	-4.02B	-1.25B	1.01B	-1.04B	-816M
Long-Term Debt Repaid, Total	-213M	-183M	-172M	-304M	-187M
Total Debt Repaid	-213M	-183M	-172M	-304M	-187M
Issuance of Common Stock	929M	1.23B	262M	1.65B	1.21B
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-3.06B	-5.26B	-7.16B	-8.11B	-12.02B
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-3.06B	-5.26B	-7.16B	-8.11B	-12.02B
Other Financing Activities, Total	-44.3M	-38.2M	-45.2M	62.4M	-164M
Cash from Financing	-2.39B	-4.26B	-7.12B	-6.71B	-11.16B
Foreign Exchange Rate Adjustments	-	-	-	-	-
Miscellaneous Cash Flow Adjustments	100K	-	-	100K	100K
Net Change in Cash	-1.85B	291M	-267M	29.7M	23.2M
Supplemental Items
Cash Interest Paid	44.3M	38.2M	39.7M	-	67.4M
Cash Income Tax Paid (Refund)	1.74B	2.09B	1.69B	2.51B	3.75B
Levered Free Cash Flow	6.48B	6.3B	5.61B	8.4B	6.67B
Unlevered Free Cash Flow	6.51B	6.33B	5.64B	8.44B	6.71B
Change In Net Working Capital	-455M	454M	600M	294M	-760M
Net Debt Issued / Repaid	-213M	-183M	-172M	-304M	-187M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	17.57	17.26	15.22	20.62	23.5
Return on Total Capital	18.92	18.58	16.42	22.25	25.43
Return On Equity %	23.9	22.62	20.68	29.54	31.39
Return on Common Equity	23.9	22.62	20.68	29.54	31.39
Margin Analysis
Gross Profit Margin %	80.66	81.02	80.05	83.29	82.88
SG&A Margin	4.82	5.08	5.81	5.98	5.18
EBITDA Margin %	62.62	64.96	61.83	66.95	67.8
EBITA Margin %	62.13	64.63	61.48	66.68	67.47
EBIT Margin %	62.13	64.63	61.48	66.68	67.47
Income From Continuing Operations Margin %	47.93	48.46	47.69	54.35	51.03
Net Income Margin %	47.93	48.46	47.69	54.35	51.03
Net Avail. For Common Margin %	47.93	48.46	47.69	54.35	51.03
Normalized Net Income Margin	38.66	40.27	38.25	41.52	42.03
Levered Free Cash Flow Margin	45.64	41.04	36.99	41.25	26.46
Unlevered Free Cash Flow Margin	45.84	41.2	37.16	41.44	26.63
Asset Turnover
Asset Turnover	0.45	0.43	0.4	0.49	0.56
Fixed Assets Turnover	20.71	29.93	27	26.27	6.99
Receivables Turnover (Average Receivables)	16.27	18.42	14.3	13.81	20.82
Short Term Liquidity
Current Ratio	12.86	15.24	25.27	32.72	29.31
Quick Ratio	12.37	14.7	24.51	31.99	28.66
Operating Cash Flow to Current Liabilities	1.98	2.63	4.33	6.52	9.62
Days Sales Outstanding (Average Receivables)	22.43	19.82	25.52	26.51	17.53
Average Days Payable Outstanding	86.8	74.42	73.68	61.93	45.86
Long Term Solvency
Total Debt/Equity	1.66	1.36	1.59	1.97	2.09
Total Debt / Total Capital	1.63	1.34	1.57	1.94	2.05
LT Debt/Equity	-	-	1.59	1.93	2.04
Long-Term Debt / Total Capital	-	-	1.57	1.89	2
Total Liabilities / Total Assets	8.59	8.37	8.94	8.98	9.79
EBIT / Interest Expense	199.05	259.83	234.86	217.7	252.34
EBITDA / Interest Expense	205.72	265.84	240.92	221.78	256.74
(EBITDA - Capex) / Interest Expense	201.28	264.05	238.3	219.88	176.48
Total Debt / EBITDA	0.06	0.05	0.06	0.06	0.05
Net Debt / EBITDA	-2.98	-3.05	-3.25	-2.57	-1.95
Total Debt / (EBITDA - Capex)	0.06	0.05	0.06	0.06	0.07
Net Debt / (EBITDA - Capex)	-3.05	-3.07	-3.29	-2.6	-2.84
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.95	8.19	-1.24	34.34	23.73
Gross Profit, 1 Yr. Growth %	29.54	8.68	-2.42	40.06	23.02
EBITDA, 1 Yr. Growth %	55.43	12.23	-6	45.46	25.3
EBITA, 1 Yr. Growth %	56.09	12.56	-6.06	45.7	25.2
EBIT, 1 Yr. Growth %	56.09	12.56	-6.06	45.7	25.2
Earnings From Cont. Operations, 1 Yr. Growth %	63.84	9.38	-2.8	53.09	16.17
Net Income, 1 Yr. Growth %	63.84	9.38	-2.8	53.09	16.17
Normalized Net Income, 1 Yr. Growth %	56.97	12.7	-6.2	45.83	25.22
Diluted EPS Before Extra, 1 Yr. Growth %	62.93	8.26	-2.29	52.04	14.26
Accounts Receivable, 1 Yr. Growth %	-28.52	60.73	15.79	35.02	-43.31
Net Property, Plant and Equip., 1 Yr. Growth %	-36.19	-7.79	28.28	45.64	584.49
Total Assets, 1 Yr. Growth %	17.75	11.92	1.7	13.32	6.74
Tangible Book Value, 1 Yr. Growth %	21.31	13.31	1.23	14.36	6.13
Common Equity, 1 Yr. Growth %	19.58	12.18	1.06	13.27	5.79
Cash From Operations, 1 Yr. Growth %	-24.63	27.1	0.79	32.55	54.28
Capital Expenditures, 1 Yr. Growth %	386.88	-65.33	52.2	-7.33	4.46K
Levered Free Cash Flow, 1 Yr. Growth %	-28.47	-2.71	-10.99	52.4	-20.77
Unlevered Free Cash Flow, 1 Yr. Growth %	-28.44	-2.75	-10.93	52.42	-20.64
Dividend Per Share, 1 Yr. Growth %	60	37.5	4.55	43.48	9.09
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-7.25	13.44	3.37	15.18	28.92
Gross Profit, 2 Yr. CAGR %	-7.94	18.65	2.98	16.78	31.31
EBITDA, 2 Yr. CAGR %	12.13	32.08	2.72	16.94	35
EBITA, 2 Yr. CAGR %	12.29	32.55	2.83	16.99	35.06
EBIT, 2 Yr. CAGR %	12.29	32.55	2.83	16.99	35.06
Earnings From Cont. Operations, 2 Yr. CAGR %	18.18	33.87	3.11	21.98	33.36
Net Income, 2 Yr. CAGR %	18.3	33.87	3.11	21.98	33.36
Normalized Net Income, 2 Yr. CAGR %	12.1	33.01	2.82	16.96	35.14
Diluted EPS Before Extra, 2 Yr. CAGR %	17.17	32.81	2.85	21.88	31.8
Accounts Receivable, 2 Yr. CAGR %	-36.58	7.19	36.42	25.04	-12.51
Net Property, Plant and Equip., 2 Yr. CAGR %	100.87	-23.3	8.76	36.69	215.74
Total Assets, 2 Yr. CAGR %	10.55	14.8	6.68	7.35	9.98
Tangible Book Value, 2 Yr. CAGR %	10.72	17.24	7.1	7.6	10.17
Common Equity, 2 Yr. CAGR %	9.84	15.82	6.48	6.99	9.47
Cash From Operations, 2 Yr. CAGR %	8.68	-2.12	13.18	15.82	43
Capital Expenditures, 2 Yr. CAGR %	51.85	29.93	-27.36	31.98	549.61
Levered Free Cash Flow, 2 Yr. CAGR %	10.67	-16.58	-6.94	15.48	9.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	10.91	-16.58	-6.93	15.52	10.08
Dividend Per Share, 2 Yr. CAGR %	15.47	48.32	19.9	22.47	25.11
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.72	-2.36	8.32	12.8	17.96
Gross Profit, 3 Yr. CAGR %	-8.35	-2.71	11.16	14.02	18.86
EBITDA, 3 Yr. CAGR %	10.17	12.16	17.92	15.35	19.66
EBITA, 3 Yr. CAGR %	10.22	12.38	18.18	15.49	19.67
EBIT, 3 Yr. CAGR %	10.22	12.38	18.18	15.49	19.67
Earnings From Cont. Operations, 3 Yr. CAGR %	14.17	15.17	20.32	17.63	20.02
Net Income, 3 Yr. CAGR %	14.29	15.25	20.32	17.63	20.02
Normalized Net Income, 3 Yr. CAGR %	10.36	12.3	18.39	15.52	19.65
Diluted EPS Before Extra, 3 Yr. CAGR %	12.67	14.12	19.9	17.16	19.29
Accounts Receivable, 3 Yr. CAGR %	-9.34	-13.53	9.98	35.95	-3.95
Net Property, Plant and Equip., 3 Yr. CAGR %	52.57	54.95	-8.95	19.88	133.85
Total Assets, 3 Yr. CAGR %	7.61	11	10.25	8.85	7.15
Tangible Book Value, 3 Yr. CAGR %	10.39	11.58	11.64	9.47	7.1
Common Equity, 3 Yr. CAGR %	9.45	10.62	10.68	8.7	6.59
Cash From Operations, 3 Yr. CAGR %	6.64	14.5	-1.16	19.47	27.44
Capital Expenditures, 3 Yr. CAGR %	9.26	-7.19	36.96	-15.47	329.67
Levered Free Cash Flow, 3 Yr. CAGR %	28.64	6.02	-14.75	9.06	1.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	28.64	6.15	-14.74	9.08	1.99
Dividend Per Share, 3 Yr. CAGR %	10.06	22.39	32	27.29	17.84
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.56	1.43	-2.81	4.31	16.13
Gross Profit, 5 Yr. CAGR %	0.54	0.23	-3.98	4.67	18.78
EBITDA, 5 Yr. CAGR %	10.92	11.19	7.13	14.05	24.48
EBITA, 5 Yr. CAGR %	10.88	11.26	7.2	14.2	24.66
EBIT, 5 Yr. CAGR %	10.88	11.65	7.2	14.2	24.66
Earnings From Cont. Operations, 5 Yr. CAGR %	11.41	13.11	9.61	17.85	25.38
Net Income, 5 Yr. CAGR %	11.41	13.11	9.68	17.9	25.38
Normalized Net Income, 5 Yr. CAGR %	10.78	11.38	7.28	14.14	24.83
Diluted EPS Before Extra, 5 Yr. CAGR %	10.07	11.52	8.64	17.16	24.52
Accounts Receivable, 5 Yr. CAGR %	-5.94	4.56	6.76	0.21	0.36
Net Property, Plant and Equip., 5 Yr. CAGR %	44.26	41.59	33.25	47.37	49.72
Total Assets, 5 Yr. CAGR %	11.93	13.1	7.24	9.53	10.14
Tangible Book Value, 5 Yr. CAGR %	10.16	15.1	9.06	9.97	11.05
Common Equity, 5 Yr. CAGR %	11.97	13.55	8.25	9.15	10.19
Cash From Operations, 5 Yr. CAGR %	15.89	0.83	9.21	15.03	14.67
Capital Expenditures, 5 Yr. CAGR %	15.8	-51.61	-7.2	6.85	166.3
Levered Free Cash Flow, 5 Yr. CAGR %	21.55	71.07	13.02	9.7	-5.93
Unlevered Free Cash Flow, 5 Yr. CAGR %	21.65	71.2	13.02	9.81	-5.89
Dividend Per Share, 5 Yr. CAGR %	13.67	21.14	13.9	22.42	29.2