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Results
27-Oct-21
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Analysis
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Nippon Life India Asset Management
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Strong AUM growth at 45%
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Nippon Life India Asset
Management has posted 47% surge in the net profit to Rs 213.72 crore in the
quarter ended September 2021 (Q2FY2022) compared to Rs 145.35 crore in Q2FY2021,
driven by strong growth in AUM and cost efficiencies.
The operating profit of the
company surged 42% to Rs 193.29 crore, while
other income jumped 53% to Rs 97.21 crore in Q2FY2022 from Rs 63.70 crore in Q2FY2021.
Interest expense declined 3% to
Rs 1.13 crore. The depreciation declined 17% to Rs 6.57 crore in Q2FY2022. The
profit before tax moved up 48% to Rs 282.80 crore. The effective tax rose to 24.6%
in Q2FY2022 from 23.9% in Q2FY2021. The net profit increased 47% to Rs 213.72 crore
in Q2FY2022.
Business highlights:
Assets under management increased
45% to Rs 400800 crore end September 2021 over Rs 276700 crore end September
2020.
Average Mutual Fund assets under
management moved up 33% to Rs 265500 crore end September 2021.
Overall AUM market share rose to 7.33% in Q2FY2022
up by 9 basis points from Q1FY2022.
The share of Equity Assets rose to 43% of NIMF’s AUM
as against 39% for Q2FY2021
The company is one of the largest retail assets in
the Industry, at Rs 77657 crore end September 2021. Retail assets contributed
28% to NIMF’s AUM
NIMF’s AUM of Rs. 48,843 crore (US$ 6.6 billion)
from ‘Beyond the Top 30 cities’ category. This segment forms 18% of NIMF’s AUM
vis-à-vis 16% for the Industry
Individual AUM was Rs. 137,257 crore and contributed
50% to NIMF’s AUM
IMF is one of the largest ETF players with AUM of
Rs. 49,640 crore and a market share of 13%.
NIMF has 1.3 crore investor folios, with an annualized
systematic book of over Rs 7800 crore.
Nippon India AIF offers Category II and Category III
Alternative Investment Funds and has a total commitment of approx. Rs 4000
crore across various schemes
NIMF has geographical presence at over 270 locations
pan India, and is amongst the highest in the industry.
Digital purchase transactions rose to over 7 lakh -
an increase of 55% as against Q2FY2021.
Digital channel contributed 53% to total new
purchase transactions.
Extensive distribution and a diversified product
suite helped to add over 1.1 million investors vs. 2.8 million for the Industry
in Q2FY22.
Sundeep Sikka, ED & CEO, NAM India, said “Q2 was
a strong quarter on all important parameters. Higher operating profit (+46%)
and wider investor base (+39%) was driven by strong fund performance, robust
risk management, and granular distribution network. Overall market share has
grown by 21 basis points in H1. We continue to focus on profitable growth,
strengthening the digital ecosystem and expanding the overall industry size.”
Financial Performance H1FY2022
Nippon Life India Asset
Management has posted 31% increase in the net profit to Rs 395.26 crore in the half
year ended September 2021 (H1FY2022). The operating profit of the company increased
51% to Rs 370.65 crore, while other income declined 2% to Rs 164.12 crore in H1FY2022.
The depreciation declined 25% to Rs 13.88 crore in H1FY2022. The profit before
tax moved up 33% to Rs 518.83 crore. The effective tax was higher at 24% in H1FY2022
from 22.9% in H1FY2021. The net profit increased 31% to Rs 395.26 crore in H1FY2022.
Nippon Life India
Asset Management: Consolidated Results
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2109 (3)
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2009 (3)
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Var %
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2109 (6)
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2009 (6)
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Var %
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2103 (12)
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2003 (12)
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Var %
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Sales
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327.87
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258.66
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27
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630.14
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491.78
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28
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1062.14
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1202.98
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-12
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OPM %
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59.0%
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52.7%
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58.8%
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49.8%
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52.5%
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50.6%
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OP
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193.29
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136.33
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42
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370.65
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244.70
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51
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557.52
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608.50
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-8
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Other Income
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97.21
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63.70
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53
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164.12
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166.76
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-2
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357.20
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-9.77
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LP
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PBDIT
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290.50
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200.03
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45
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534.77
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411.46
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30
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914.72
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598.73
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53
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Interest
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1.13
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1.17
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-3
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2.06
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2.43
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-15
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4.43
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5.67
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-22
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PBDT
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289.37
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198.86
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46
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532.71
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409.03
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30
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910.29
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593.06
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53
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Depreciation
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6.57
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7.90
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-17
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13.88
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18.40
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-25
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33.27
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33.25
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0
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PBT
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282.80
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190.96
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48
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518.83
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390.63
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33
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877.02
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559.81
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57
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Tax
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69.61
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45.73
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52
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124.26
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89.28
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39
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197.63
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144.05
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37
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PAT
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213.19
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145.23
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47
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394.57
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301.35
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31
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679.39
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415.76
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63
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Minority interest
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0.00
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0.00
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-
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0.00
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0.00
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-
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0.00
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0.00
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-
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Profit/Loss of
Associate Company
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0.53
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0.08
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563
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0.69
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0.26
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165
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0.94
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-0.51
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-284
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PAT
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213.72
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145.31
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47
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395.26
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301.61
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31
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680.33
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415.25
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64
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EPS (Rs)*
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13.8
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9.4
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12.7
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9.7
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11.0
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6.7
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*EPS is annualized on
latest equity of Rs 621.18 crore, face value of Rs 10 each, Source:
Capitaline Corporate Database
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