FSN E-Commerce Ventures Ltd

₹ 176 2.92%
25 Nov - 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 50,144 Cr.
  • Current Price 176
  • High / Low 427 / 162
  • Stock P/E 1,135
  • Book Value 4.78
  • Dividend Yield 0.00 %
  • ROCE 6.87 %
  • ROE 4.49 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 36.8 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 5.46% over last 3 years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
288.64 603.77 807.97 740.52 816.99 885.26 1,098.36 973.32 1,148.42 1,230.83
333.99 548.81 700.95 695.75 790.05 856.44 1,029.38 934.80 1,102.37 1,169.69
Operating Profit -45.35 54.96 107.02 44.77 26.94 28.82 68.98 38.52 46.05 61.14
OPM % -15.71% 9.10% 13.25% 6.05% 3.30% 3.26% 6.28% 3.96% 4.01% 4.97%
2.41 1.13 3.83 4.40 4.72 5.20 5.91 11.14 8.36 6.48
Interest 8.72 7.17 7.46 7.36 9.01 11.35 12.79 13.36 15.06 20.36
Depreciation 14.57 16.28 18.45 21.39 19.50 21.31 25.12 30.48 31.01 38.50
Profit before tax -66.23 32.64 84.94 20.42 3.15 1.36 36.98 5.82 8.34 8.76
Tax % 17.70% 17.31% 18.91% 12.29% -12.06% 14.71% 21.55% -30.41% 31.89% 35.39%
Net Profit -54.51 26.99 68.88 17.91 3.53 1.17 29.02 7.58 5.01 5.19
EPS in Rs -6.14 3.11 7.64 1.87 0.37 0.00 0.10 0.03 0.02 0.01
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
574 1,111 1,768 2,441 3,774 4,451
601 1,091 1,685 2,283 3,610 4,236
Operating Profit -27 21 83 158 164 215
OPM % -5% 2% 5% 6% 4% 5%
4 5 10 12 27 32
Interest 7 27 46 32 47 62
Depreciation 7 31 60 72 96 125
Profit before tax -37 -32 -12 66 47 60
Tax % 25% 23% -31% 7% 13%
Net Profit -28 -25 -16 62 41 47
EPS in Rs -3.47 -2.87 -1.90 6.82 0.14 0.16
Dividend Payout % 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 50%
TTM: 37%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 54%
TTM: -51%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -57%
Return on Equity
10 Years: %
5 Years: %
3 Years: 5%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
14 14 15 15 47 47
Reserves 73 207 296 475 1,292 1,314
83 310 413 333 593 907
183 244 401 480 714 618
Total Liabilities 353 776 1,124 1,302 2,646 2,886
34 140 227 231 483 748
CWIP 0 0 2 2 24 11
Investments 10 138 4 1 0 41
308 497 892 1,067 2,138 2,087
Total Assets 353 776 1,124 1,302 2,646 2,886

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-79 -100 6 133 -354
31 -162 15 -130 -603
82 236 69 -38 927
Net Cash Flow 33 -26 90 -34 -30

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 45 19 20 11 9
Inventory Days 114 135 160 122 150
Days Payable 123 100 113 77 62
Cash Conversion Cycle 35 54 68 56 97
Working Capital Days 53 61 53 37 105
ROCE % -1% 5% 13% 7%

Shareholding Pattern

Numbers in percentages

150 recently
Dec 2021 Mar 2022 Jun 2022 Sep 2022 Nov 2022
52.56 52.43 52.41 52.38 52.36
5.73 5.98 6.54 6.57 6.16
3.42 3.12 2.95 3.01 2.93
38.29 38.47 38.10 38.03 38.55

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