Nippon Life India Asset Management Ltd (BOM:540767) Q1 2026 Earnings Call Highlights: Record ...
Profit After Tax: INR3.96 billion, up 19% YoY and 33% QoQ.
Revenue: INR6.07 billion, up 20% YoY and 7% QoQ.
Other Income: INR1.46 billion, up 12% YoY and 5.3x QoQ.
Operating Expenses: INR2.29 billion, up 16% YoY and 8% QoQ.
Total Assets Under Management (AUM): INR7.44 trillion.
Mutual Fund Quarterly Average AUM: INR6.13 billion, up 27% YoY and 10% QoQ.
Market Share: Increased 23 basis points QoQ to 8.49%.
SIP Contribution: INR806 billion, up 29% YoY and 3% QoQ.
ETF AUM: INR1.74 trillion, with a market share of 19.76%.
Digital Purchase Transactions: 3.57 million in Q1 FY26, up 27% YoY.
Offshore AUM: INR166 billion, up 10% YoY.
Warning! GuruFocus has detected 5 Warning Signs with RVTY.
Release Date: July 28, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Nippon Life India Asset Management Ltd (BOM:540767) achieved its highest ever quarterly operating profit at INR3.78 billion and profit after tax at INR3.96 billion.
The company was the fastest-growing AMC among the top 10 AMCs on both a quarter-on-quarter and year-on-year basis.
Market share increased to 8.49%, the highest since June 2019, with significant gains in equity net sales and SIP market share.
The company launched four new products in Q1 FY26, expanding its offerings in the passive fund segment.
Digital purchase transactions rose by 27% YoY, with digital business contributing 75% of total new purchase transactions in Q1 FY26.
Negative Points
Systematic folio numbers declined sequentially due to a one-time cleanup of inactive SIPs, impacting the numerator.
There is a potential for a 2 to 3 basis point decline in yields annually due to telescopic pricing and higher costs for new flows.
The ESOP cost for the year is expected to be around INR46 crores, with a potential increase in the remaining quarters.
The company's equity AUM share decreased by 0.3% quarter-on-quarter to 46.9% for Q1 FY26.
There is uncertainty regarding the impact of new regulatory proposals on scheme sizes and TER, which could affect future strategy.
Q & A Highlights
Q: Can you provide details on the yields for different segments this quarter and any commentary on ESOP costs? A: The blended yield for the current quarter is 36 basis points, with equity yield at 55 basis points, debt at 25 basis points, liquid at 12 basis points, and ETF at 17 basis points. The ESOP cost for the year is expected to be around INR46 crores, with the current quarter's cost at INR11 crores.
Q: Why has the systematic folio declined sequentially, and is this cleanup a regular activity? A: The decline was due to a one-time cleanup of inactive SIPs across the industry, which was not specific to any month or AMC. This was a large-scale cleanup, and while it might be revisited in 6 to 12 months, it is currently considered a one-time activity.
Q: What is the rationale behind launching new passive funds, and how have they performed? A: We focus on unique ideas in the market, and our recent passive fund launches have seen interest. We do not target specific volumes for these funds, but they build up over time as investors flow into these passive ideas. Our MNC fund, launched in July, received a good response.
Q: Can you explain the impact of the new AMC discussion paper on scheme size and TER? A: The proposal suggests launching new schemes if the existing scheme size exceeds INR50,000 crores, allowing the new scheme to charge a TER equivalent to the old scheme. While we await final guidelines, we do not see any negatives and anticipate potential marginal positives.
Q: Is there a change in customer behavior or distributor preferences in recent months? A: There hasn't been a significant change in the last six months, but over the years, investors have matured, reacting less to market volatility. Brand comfort and service experience are increasingly important alongside performance, influencing investor and distributor decisions.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
Carlyle Credit Income Fund (CCIF) Q3 2025: Everything You Need To Know Ahead Of Earnings
Carlyle Credit Income Fund (NYSE:CCIF) is set to release its Q3 2025 earnings on Aug 20, 2025. The consensus estimate for Q3 2025 revenue is $9.27 million, and the earnings are expected to come in at $0.24 per share. The full year 2025's revenue is expected to be $35.81 million and the earnings are expected to be $0.98 per share. More detailed estimate data can be found on the Forecast page. Carlyle Credit Income Fund (NYSE:CCIF) Estimates Trends Warning! GuruFocus has detected 2 Warning Sign with CCIF. Revenue estimates for Carlyle Credit Income Fund (NYSE:CCIF) have declined from $37.43 million to $35.81 million for the full year 2025 and from $43.35 million to $41.20 million for 2026 over the past 90 days. Earnings estimates have declined from $1.06 per share to $0.98 per share for the full year 2025, while they have increased from $0.95 per share to $1.08 per share for 2026 over the same period. Carlyle Credit Income Fund (NYSE:CCIF) Reported History In the previous quarter of 2025-03-31, Carlyle Credit Income Fund's (NYSE:CCIF) actual revenue was $8.57 million, which missed analysts' revenue expectations of $9.04 million by -5.28%. Carlyle Credit Income Fund's (NYSE:CCIF) actual earnings were $0.23 per share, which missed analysts' earnings expectations of $0.32 per share by -26.98%. After releasing the results, Carlyle Credit Income Fund (NYSE:CCIF) was down by -0.45% in one day. Carlyle Credit Income Fund (NYSE:CCIF) 12 Month Price Targets Based on the one-year price targets offered by 3 analysts, the average target price for Carlyle Credit Income Fund (NYSE:CCIF) is $7.83 with a high estimate of $9.00 and a low estimate of $7.00. The average target implies an upside of 36.23% from the current price of $5.75. Based on GuruFocus estimates, the estimated GF Value for Carlyle Credit Income Fund (NYSE:CCIF) in one year is $0.00, suggesting a downside of -100% from the current price of $5.75. Based on the consensus recommendation from 3 brokerage firms, Carlyle Credit Income Fund's (NYSE:CCIF) average brokerage recommendation is currently 2.3, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
33 minutes ago
- Yahoo
Apple's India Production Milestone Could Cushion Earnings Against Tariff Impact
Tech giant Apple Inc (NASDAQ:AAPL) is one of many companies that could be hurt by tariffs placed on international markets for exporting items into America. To help combat the rising tariff rates, Apple has placed increased emphasis on diversification. Here's the diversification milestone the company recently reached. What Happened: Ahead of the highly anticipated launch of the iPhone 17, Apple has reached a milestone in production of all four models of the new phone in India. The company will be able to produce all versions of the upcoming phone, including professional versions. This marks the first time that all models will be made in India, according to a report from Bloomberg. Apple will produce the iPhone 17 at five factories in India, including two factories that recently opened. The increased production in India comes as Apple tries to lower its reliance on getting products imported from China. Apple has shifted the majority of its iPhone production to India from China for models specifically designed for the U.S. market. Indian conglomerate Tata Group is the owner of several of the plants in India, according to the report. Since April, Apple has exported $7.5 billion worth of iPhones from India, compared to $17 billion exported from India in the entire last fiscal year. Apple is also planning to use India to make the new iPhone 17e set for a 2026 release date, and the country could factor into the iPhone 18 production, according to the report. Read Also: Why It's Important: Constantly changing tariffs have left Apple with changing estimates on what the impact could be for the iPhone 17, with tariffs currently 50% on India and reciprocal tariffs on China paused until November, with a baseline of 10%. The iPhone and other electronics have been exempt from some tariffs by the Trump administration. Apple's current estimate is a $1.1 billion impact of tariffs for the current quarter. That figure could change depending on where rates on China and India stand and whether electronics are subject to the full tariff amount. Outside of producing items in China and India, Apple has also made efforts to win over the Trump administration through promises to invest more in American manufacturing. Apple CEO Tim Cook recently announced that the company would invest $600 billion to expand its U.S. operations. This move may have been made to secure exemptions on items imported from India. Apple is still using China to assemble iPhones set to be delivered to other countries. In 2021, China represented 99% of all global iPhone production. Last year, the figure fell to 81%. By 2027, China is expected to account for 50% of global iPhone production. By shifting production plans for U.S.-ready smartphones to India, Apple could enhance its diversification efforts and potentially lower its tariffs, given the likelihood that tariffs on smartphones from China will be higher than those from India in the coming months. Apple is likely to face tariff costs going forward, but the company's strategic shift to India production and the focus on winning over the Trump administration could help boost earnings and provide protection to the downside and worst-case scenarios that investors and analysts had predicted. AAPL Price Action: Apple stock is down 0.3% to $230.32 on Tuesday versus a 52-week trading range of $169.21 to $260.09. Apple stock is down 5.6% year-to-date in 2025. Read Next: Photo: Prathmesh T on UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Apple's India Production Milestone Could Cushion Earnings Against Tariff Impact originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Homebuilder Toll Brothers beats profit on higher deliveries
-- Toll Brothers reported third-quarter earnings and revenue ahead of Wall Street expectations on Tuesday, though contracted units fell from a year earlier. Shares of luxury homebuilder were down about 1.6% in after-hours earned $3.73 per share for the quarter ended July 31, above analysts' average estimate of $3.60. Revenue was $2.88 billion, also ahead of the $2.86 billion company flagged 'affordability pressures and uncertain economic conditions.' Net signed contract value was unchanged at $2.41 billion, while the number of new contracts declined 4%.'In this environment, we continue to focus on strategically balancing price and pace in order to maximize profitability and returns,' said CEO Douglas Yearley. 'We are actively managing our spec starts on a community-by-community basis to best match local demand' The company delivered 2,959 homes in the quarter, up 5% year-over-year. Gross margin on home sales narrowed to 25.6% from 27.4% a year earlier. Toll Brothers (NYSE:TOL) said it repurchased roughly 1.8 million shares during the quarter for $201 million. Related articles Homebuilder Toll Brothers beats profit on higher deliveries Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Apollo economist warns: AI bubble now bigger than 1990s tech mania
