Nippon Life India Asset Management Ltd, incorporated in the year 1995, is a Large Cap company with a market cap of Rs 21053.64 Crore, operating in Financial Services sector.
Nippon Life India Asset Management’s key Products/Revenue Segments include Investment Management & Advisory Fees and Income From Portfolio Management Services for the year ending 31-Mar-2020.
Investment Rationale
Nippon’s AUM has witnessed strong recovery in AUM post rebranding, Phillip Capital sees operating leverage to provide significant scope for RoE improvement as AUMs stabilise. At the current price, the stock trades at a P/E of 27x for FY23 earnings, Phillip Capital maintains buy rating with a target price of Rs 400 valuing the stock at 33x FY23 earnings.
Financials
For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 398.84 Crore, up 23.73 per cent from last quarter’s Total Income of Rs 322.36 Crore and up 10.59 per cent from last year same quarter’s Total Income of Rs 360.64 Crore. Company has reported net profit after tax of Rs 211.53 Crore in latest quarter.
