Nippon Life India Asset Management (NAM-INDIA) Q3 25/26 earnings summary

Executive summary

• Achieved record total AUM of INR 8.16 trillion and mutual fund AUM of INR 7.01 trillion, with fastest growth among top 10 AMCs in Q3 FY26 and nine months FY26.

• Maintained position as 4th largest AMC in India, with QAAUM up 23% YoY and 7% QoQ; unique investor base reached 22.7 million, with 36.7 million folios and low investor complaints.

• Achieved highest ever quarterly operating profit at INR 4.58 billion and profit after tax of INR 4.04 billion in Q3 FY26, up 37% YoY.

• Digital transactions accounted for 77% of purchases, with 4.32 million digital transactions in Q3 FY26.

• Board approved strategic collaboration with DWS Group, with DWS to acquire up to 40% stake in AIF subsidiary.

Financial highlights

• Q3 FY26 revenue at INR 7.05 billion, up 20% YoY and 7% QoQ; operating profit up 22% YoY and 9% QoQ.

• Profit after tax at INR 4.04 billion, up 37% YoY and 17% QoQ.

• Operating expenses at INR 2.48 billion, up 17% YoY and 4% QoQ.

• Basic EPS for Q3 FY26 was 6.34, up from 5.42 in Q2 FY26 and 4.66 in Q3 FY25.

• Interim dividend of INR 9.00 per equity share was paid in November 2025.

Outlook and guidance

• Expense growth guidance maintained at ~15% for next year.

• Systematic flows annualized at INR 451 billion, with SIP AUM up 22% YoY and monthly SIP flows at all-time high.

• Ongoing focus on efficiency, digital enablement, ESG integration, and expanding product offerings.