Nippon Life India Asset Management (NAM-INDIA) Q1 25/26 earnings summary

Executive summary

• Achieved highest ever quarterly operating profit of INR 3.78 billion and profit after tax of INR 3.96 billion in Q1 FY26, up 19% YoY and 33% QoQ, with fastest growth among top 10 AMCs.

• Mutual fund QAAUM at INR 6.13 trillion, up 27% YoY and 10% QoQ, with market share at 8.49%, the highest since June 2019.

• Systematic flows and digital transactions reached record highs, with 75% of new purchases via digital channels and systematic flows up 30% YoY to INR 97.7 billion.

• Expanded investor base to 21.2 million unique investors and 33.4 million folios.

• Board approved unaudited financial results and amendments to the employee stock option plan.

Financial highlights

• Revenue for Q1 FY26 was INR 6.07 billion, up 20% YoY and 7% QoQ; total income at INR 7.53 billion.

• Operating profit rose 23% YoY and 7% QoQ to INR 3.78 billion; profit after tax increased 19% YoY and 33% QoQ to INR 3.96 billion.

• Other income at INR 1.46 billion, up 12% YoY and 5.3x QoQ.

• Basic EPS for Q1 FY26: 6.24; diluted EPS: 6.13.

• Paid-up equity share capital at INR 635.35 crore as of June 30, 2025.

Outlook and guidance

• Continued focus on digital expansion, systematic investment growth, and product innovation in ETFs, AIFs, and international offerings.

• ESOP cost for FY26 expected to be around INR 46 crore, with a reduction to INR 26-27 crore in FY27.

• No specific targets for further distributor commission cuts; approach remains dynamic and market-dependent.