Expense growth guidance of ~15% YoY
Management reiterated 15% YoY expense growth (ex-ESOP) for FY27, with operating leverage expected to reduce cost/AUM over time.
NIPPONLIFEINDIAASSETMANA / guidance tracker
Keep management guidance in view.
Nippon Life India · forward-looking guidance across the available source record.
Research layer active
Guidance tracker
What management said would happen.
margins
Regulatory impact of ~3.5-4bps passed to distributors
The new regulation effective April 2026 will reduce yields by ~3.5-4bps, fully passed to distributors to minimize P&L impact.
ESOP cost of ~INR 35cr in FY27, ~INR 70-75cr over 4 years
New ESOP plan will result in ~INR 35cr cost in FY27 and ~INR 70-75cr over the next four years.