Nippon Life India Asset Management (NAM-INDIA) Q4 24/25 earnings summary

Executive summary

• Achieved highest-ever annual profit after tax of INR 12.86 billion (up 16% YoY) and record operating profit of INR 14.04 billion (up 47% YoY) for FY25.

• Maintained position as 4th largest AMC in India with mutual fund QAAUM at INR 5.57 trillion, up 29% YoY, and market share at 8.26%.

• Highest investor base in the industry at 32.5 million folios, adding 1.5 million in Q4 FY25.

• Board declared a total dividend payout of INR 18 per share (91% of net profit), including a proposed final dividend of INR 10 per share.

• Digital transactions contributed 74% to overall purchase and new SIP transactions in Q4 FY25.

Financial highlights

• Q4 FY25 consolidated revenue from operations at INR 5.67 billion, up 21% YoY; Q4 operating profit at INR 3.55 billion, up 26% YoY.

• Q4 profit after tax at INR 2.99 billion, down 13% YoY but up 1% sequentially.

• FY25 consolidated profit after tax at INR 12.86 billion, up 16% YoY.

• Operating expenses for Q4 at INR 2.12 billion, up 14% YoY; excluding ESOP, up 8% YoY.

• Other income for Q4 at INR 0.23 billion, down 75% YoY but up 50% sequentially.

Outlook and guidance

• Expense growth guidance for FY2026 at ~15% ex-ESOP; ESOP cost expected at INR 48-49 crore for FY2026.

• Employee count growth to moderate, with 75-100 additions expected next year.

• Continued focus on expanding digital and physical distribution, with 1,11,400+ distributors and 198 branches.

• Ongoing product innovation across mutual funds, ETFs, AIFs, and offshore offerings.

• Strategic initiatives to facilitate international inflows, especially from Japan via GIFT City.