FSN E-Commerce Ventures Ltd

FSN E-Commerce Ventures Ltd

₹ 195 -2.14%
12 Jun 3:14 p.m.
About

FSN E-commerce Ventures Ltd. (FSNEV) popularly known as "Nykaa" is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care, and fashion products, including owned brand products manufactured by it.[1]

Key Points

Leading Digital Company [1]
Nykaa is the largest specialty beauty and personal care platform in India in terms of value of products sold in FY21 and one of the fastest growing fashion platforms in India based on growth in GMV. It has the highest average order value (AOV) among leading online beauty and personal care platforms in India.

  • Market Cap 55,678 Cr.
  • Current Price 195
  • High / Low 230 / 155
  • Stock P/E 572
  • Book Value 5.80
  • Dividend Yield 0.00 %
  • ROCE 6.08 %
  • ROE 5.92 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 88.9 to 41.5 days.

Cons

  • Stock is trading at 34.0 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 5.79% over last 3 years.
  • Earnings include an other income of Rs.157 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
50 38 52 54 93 64 66 80 102 103 109 119 89
47 53 67 59 89 93 90 98 107 114 123 123 100
Operating Profit 3 -16 -15 -5 4 -29 -23 -18 -5 -11 -13 -4 -12
OPM % 6% -42% -29% -10% 5% -46% -35% -23% -4% -11% -12% -3% -13%
52 30 32 35 32 39 39 45 61 39 40 41 37
Interest 2 2 2 2 2 2 2 2 2 2 2 2 2
Depreciation 1 1 2 2 2 2 2 2 2 2 3 3 3
Profit before tax 52 11 13 26 32 6 12 23 53 24 22 31 20
Tax % 6% 20% 23% 24% 24% 13% 11% 18% -63% -76% 26% 22% 28%
49 9 10 20 25 5 11 19 86 42 16 24 15
EPS in Rs 0.17 0.03 0.03 0.07 0.09 0.02 0.04 0.07 0.30 0.15 0.06 0.09 0.05
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
27 102 188 146 188 275 258 420
42 113 184 149 171 313 338 460
Operating Profit -16 -11 4 -3 17 -38 -80 -41
OPM % -58% -11% 2% -2% 9% -14% -31% -10%
6 17 30 60 116 129 185 157
Interest 0 3 5 4 6 8 7 8
Depreciation 1 4 7 8 5 7 8 12
Profit before tax -11 -0 22 45 122 76 90 97
Tax % -26% -286% 31% 19% 15% 25% -30% -0%
-8 1 15 36 104 57 117 97
EPS in Rs -0.97 0.09 1.73 4.01 0.36 0.20 0.41 0.34
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 17%
3 Years: 31%
TTM: 63%
Compounded Profit Growth
10 Years: %
5 Years: 58%
3 Years: -2%
TTM: -17%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -6%
1 Year: 18%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 6%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 14 14 15 15 47 285 286 286
Reserves 130 279 404 546 1,503 1,170 1,342 1,374
8 30 45 46 51 55 87 86
13 30 34 40 89 325 98 144
Total Liabilities 165 354 498 647 1,690 1,836 1,812 1,890
6 14 18 13 16 29 28 58
CWIP 0 0 1 0 0 1 9 0
Investments 22 169 52 70 379 461 641 935
137 171 427 564 1,294 1,345 1,134 897
Total Assets 165 354 498 647 1,690 1,836 1,812 1,890

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-62 -56 -91 -84 72 -0 -31 143
55 -91 75 -67 -944 -41 -31 -146
40 134 107 87 873 21 53 8
Net Cash Flow 32 -13 91 -64 0 -21 -10 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 22 25 50 160 40 95 131 41
Inventory Days 167 265 259 188 450 251 255 164
Days Payable 137 168 97 64 103 50 78 80
Cash Conversion Cycle 52 123 212 283 387 295 307 125
Working Capital Days 99 69 113 210 1,298 1,007 789 223
ROCE % 1% 5% 9% 12% 5% 6% 6%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
52.41% 52.38% 52.34% 52.28% 52.28% 52.26% 52.24% 52.22% 52.20% 52.18% 52.16% 52.16%
6.54% 6.57% 11.06% 12.26% 10.04% 9.84% 10.65% 10.32% 10.48% 10.13% 9.05% 8.83%
2.95% 3.01% 6.35% 7.86% 11.58% 14.31% 15.25% 17.16% 18.29% 21.83% 23.56% 25.20%
38.10% 38.03% 30.24% 27.62% 26.10% 23.60% 21.87% 20.31% 19.02% 15.86% 15.23% 13.81%
No. of Shareholders 3,12,2043,21,1215,66,2825,77,9535,85,6985,65,1915,08,9365,20,7884,79,3944,73,2134,84,2564,72,462

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls