FSN E-Commerce Ventures Ltd

FSN E-Commerce Ventures Ltd

₹ 152 -0.16%
23 Feb - close price
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 43,395 Cr.
  • Current Price 152
  • High / Low 196 / 114
  • Stock P/E 944
  • Book Value 5.85
  • Dividend Yield 0.00 %
  • ROCE 5.33 %
  • ROE 3.83 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 49.9% CAGR over last 5 years

Cons

  • Stock is trading at 26.0 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 6.39% over last 3 years.
  • Earnings include an other income of Rs.155 Cr.
  • Working capital days have increased from 1,037 days to 1,603 days

* 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
43 39 43 49 45 50 38 52 54 74 27 25 38
41 44 35 44 45 47 53 67 59 72 57 54 62
Operating Profit 2 -5 9 5 -0 3 -16 -15 -5 2 -30 -28 -24
OPM % 5% -14% 20% 11% -1% 6% -42% -29% -10% 3% -112% -112% -63%
22 13 19 21 24 52 30 32 35 32 39 39 45
Interest 1 1 1 1 1 2 2 2 2 2 2 2 2
Depreciation 2 2 1 1 1 1 1 2 2 2 2 2 2
Profit before tax 21 4 25 23 21 52 11 13 26 30 5 7 17
Tax % 20% 32% 21% 22% 21% 6% 20% 23% 24% 26% 16% 17% 24%
17 3 20 18 17 49 9 10 20 23 4 6 13
EPS in Rs 1.87 0.32 2.14 0.07 0.06 0.17 0.03 0.03 0.07 0.08 0.01 0.02 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 TTM
27 102 188 146 188 218 165
42 113 184 149 171 251 245
Operating Profit -16 -11 4 -3 17 -33 -80
OPM % -58% -11% 2% -2% 9% -15% -49%
6 17 30 60 116 129 155
Interest 0 3 5 4 6 8 7
Depreciation 1 4 7 8 5 7 7
Profit before tax -11 -0 22 45 122 81 60
Tax % 26% 286% 31% 19% 15% 24%
-8 1 15 36 104 61 46
EPS in Rs -0.97 0.09 1.73 4.01 0.36 0.21 0.16
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 52%
3 Years: 5%
TTM: -15%
Compounded Profit Growth
10 Years: %
5 Years: 50%
3 Years: 84%
TTM: -47%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 5%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 6%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 14 14 15 15 47 285 285
Reserves 130 279 404 546 1,503 1,364 1,385
Preference Capital 0 0 0 0 0 0
8 30 45 46 51 55 86
13 30 34 40 89 82 73
Total Liabilities 165 354 498 647 1,690 1,786 1,830
6 14 18 13 16 25 26
CWIP 0 0 1 0 0 1 0
Investments 22 169 52 70 379 461 467
137 171 427 564 1,294 1,299 1,337
Total Assets 165 354 498 647 1,690 1,786 1,830

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-62 -56 -91 -84 72 -4
55 -91 75 -67 -944 -38
40 134 107 87 873 21
Net Cash Flow 32 -13 91 -64 0 -21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 22 25 50 160 40 98
Inventory Days 167 265 259 188 450 207
Days Payable 137 168 97 64 103 16
Cash Conversion Cycle 52 123 212 283 387 289
Working Capital Days 99 69 113 210 1,298 1,603
ROCE % 1% 5% 9% 12% 5%

Shareholding Pattern

Numbers in percentages

6 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
52.56% 52.43% 52.41% 52.38% 52.34% 52.28% 52.28% 52.26% 52.24%
5.73% 5.98% 6.54% 6.57% 11.06% 12.26% 10.04% 9.84% 10.65%
3.42% 3.12% 2.95% 3.01% 6.35% 7.86% 11.58% 14.31% 15.25%
38.29% 38.47% 38.10% 38.03% 30.24% 27.62% 26.10% 23.60% 21.87%
No. of Shareholders 2,53,6663,24,1643,12,2043,21,1215,66,2825,77,9535,85,6985,65,1915,08,936

* 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.

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