Company Valuation: Nippon Life India Asset Management Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 208,564 216,245 130,898 296,824 367,207 531,220 - -
Change - 3.68% -39.47% 126.76% 23.71% 44.66% - -
Enterprise Value (EV) 1 204,957 212,860 130,898 296,824 367,207 528,064 527,775 527,443
Change - 3.86% -38.51% 126.76% 23.71% 43.81% -0.05% -0.06%
P/E ratio 31x 29.5x 18.2x 26.9x 28.9x 34.5x 29.2x 25.4x
PBR 6.73x 6.22x 3.72x 7.45x 8.72x 11.8x 11.2x 10.5x
PEG - 3.57x -7.95x 0.5x 2x 1.7x 1.6x 1.7x
Capitalization / Revenue 14.7x 14.1x 8.63x 14.6x 14.6x 18.3x 15.7x 13.6x
EV / Revenue 14.4x 13.9x 8.63x 14.6x 14.6x 18.2x 15.6x 13.5x
EV / EBITDA 36.8x 21x 13.6x - 25.5x 30x 25.1x 21.5x
EV / EBIT 23.3x 21.4x 17.2x 21.4x 21.6x 30.5x 25.7x 22x
EV / FCF 47x 37.2x 22.8x 38.8x 55.6x 36.4x 29.8x 25.3x
FCF Yield 2.13% 2.69% 4.38% 2.58% 1.8% 2.75% 3.35% 3.95%
Dividend per Share 2 8 11 11.5 16.5 18 21.48 24.67 28.25
Rate of return 2.36% 3.16% 5.47% 3.5% 3.11% 2.58% 2.96% 3.39%
EPS 2 10.9 11.8 11.53 17.53 20.03 24.19 28.51 32.75
Distribution rate 73.4% 93.2% 99.7% 94.1% 89.9% 88.8% 86.5% 86.3%
Net sales 1 14,193 15,356 15,166 20,373 25,207 29,056 33,877 39,055
EBITDA 1 5,575 10,159 9,615 - 14,416 17,604 21,012 24,524
EBIT 1 8,814 9,925 7,610 13,879 17,011 17,295 20,539 23,951
Net income 1 6,794 7,442 7,233 11,073 12,864 15,354 18,093 20,792
Net Debt 1 -3,606 -3,384 - - - -3,156 -3,445 -3,777
Reference price 2 338.30 347.65 210.05 471.15 578.55 833.60 833.60 833.60
Nbr of stocks (in thousands) 616,505 622,018 623,175 629,999 634,703 637,260 - -
Announcement Date 27/04/21 26/04/22 25/04/23 24/04/24 28/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.5x18.74x30.86x2.5% 5.97B
17.4x6.04x11.24x4.97% 86.46B
21.41x7.87x8.86x0.86% 81.43B
16.96x5.15x14.12x4.9% 24.69B
10.15x4.24x8.6x5.76% 17.79B
12.25x3.82x12.13x3.01% 17.66B
16.03x1.49x5.56x5.01% 13.66B
9.67x9.5x - 10.25% 13.46B
36.32x - - 2.15% 11.67B
5.29x - - - 8.31B
Average 18.10x 7.11x 13.05x 4.38% 28.11B
Weighted average by Cap. 18.12x 6.48x 10.78x 3.75%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Nippon Life India Asset Management Limited
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