Ranvir’s Portfolio

Nippon Life AMC –

Q4 and FY 24 results and concall highlights –

Size of MF industry @ 55 lakh cr vs 40 lakh cr YoY – witnessing very strong growth

This is aprox 19 pc of GDP vs a world avg of of 60 pc of GDP – representing significant headroom for growth

No of unique MF investors in India @ 4.5 cr – 3.2 pc of total population ( showing under penetration )

MF unique investor base has increased @ 29 pc CAGR over 2020 -24

Segment wise breakup of MF industry ( total size @ 55 lakh cr ) –

Equity – 58 pc
Debt – 19 pc
Liquid – 11 pc
ETFs – 12 pc

For Nippon AMC – Equity share @ 49.2 pc, ETF share @ 25.9 pc

Client wise break up of MF industry –

Retail – 27 pc
HNIs – 34 pc
Corporate – 39 pc

For Nippon AMC – retail Mix @ 30 pc

Geography wise break up –

Top 30 cities – 82 pc
Beyond T-30 cities – 18 pc

For Nippon AMC – top 30 mix @ 80 pc

Industry’s monthly SIPs have hit 19k cr / month in Mar 24 vs 14k cr / month in Mar 23. SIP’s AUM stands @ 10.7 lakh cr vs 6.8 lakh cr in Mar 23

Nippon AMC’s AUM @ 5.24 lakh cr – currently India’s 4th largest AMC. Mkt share @ 7.9 pc, up 73 bps YoY. Investor base @ 1.6 cr

Nippon AMC’s avg SIP book @ 2300 cr / month

Company enjoys a 16.7 pc mkt share in ETFs, up 135 bps YoY

Distribution Channel –

80 National distributors – 20 pc of AUM
94 banks – 23 pc of AUM
1.01 lakh MF distributors – 57 pc of AUM

Q4 fy 24 financial outcomes –

Revenues – 468 vs 348 cr
EBITDA – 281 vs 199 cr
Other income – 92 vs 39 cr
PAT – 342 vs 198 cr

Financial investments on company’s books as on 31 Mar 24 @ 3932 cr ( 395 cr are in equity MFs, rest in Debt MFs / bank FDs )

Total number of company branches across India @ 192

Company witnessed 4th consecutive Qtr of Mkt share gains in Q4

Company’s mkt share in incremental SIPs @ a whopping 15 pc !!!

Nippon Gold ETF continues to be the biggest ETF in the Industry. Launched two more ETFs in Q4 – Bank and IT index funds

Digital transaction increased by 2X YoY in Q4

AIF continues to be an important area of future growth for the company. Aggressively launching new funds in this area

Dividend for FY 24 @ Rs 16.5/share !!!

Company’s future investments shall be focussed on Digital platforms, branding / marketing and acquiring new skill sets to ramp up AIF business

Seeing good traction in their Multicap, Largecap and Value funds – which is a good thing as it helps company diversify away from their best performing small cap fund

70-75 pc of company’s SIP book constitutes of folios investing less than 10k/month/fund

ESOP costs for next 4 yrs expected to be around 80 cr. Half of this would be incurred in FY 25

Disc : holding, biased, not SEBI registered