Religare Retail Research report on Nippon Life India Asset Management
NAM-India witnessed Q4FY24 quarter as the revenue from operations was Rs 432cr, up by 10.1% QoQ/32.8% YoY. The growth in top-line was mainly led the strong increase in AuM while margins saw slight moderation. EBITDA increased by 12.1% QoQ/38.1% YoY to Rs 285cr along with margin expansion of 122bps QoQ/257bps YoY as the company managed to maintain its operating costs. Subsequentially, PAT increased by 22.8% QoQ/63.3% YoY to Rs 325cr which is one of the strong quarters for the company.
Outlook
We continue to maintain Accumulate rating on the company with an upward revision in the target price of Rs 661, valuing the company at 25x of its FY26E EPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
