FSN E-Commerce Ventures Ltd

FSN E-Commerce Ventures Ltd

₹ 175 0.65%
21 Jun - 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 49,892 Cr.
  • Current Price 175
  • High / Low 196 / 130
  • Stock P/E 1,546
  • Book Value 4.42
  • Dividend Yield 0.00 %
  • ROCE 6.84 %
  • ROE 2.44 %
  • Face Value 1.00

Pros

  • Company's working capital requirements have reduced from 80.7 days to 56.3 days

Cons

  • Stock is trading at 39.5 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 2.58% 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
740.52 816.99 885.26 1,098.36 973.32 1,148.42 1,230.83 1,462.83 1,301.72 1,421.82 1,507.02 1,788.80 1,667.98
695.75 790.05 856.44 1,029.38 934.80 1,102.37 1,169.69 1,384.67 1,231.03 1,348.35 1,426.39 1,690.02 1,574.70
Operating Profit 44.77 26.94 28.82 68.98 38.52 46.05 61.14 78.16 70.69 73.47 80.63 98.78 93.28
OPM % 6.05% 3.30% 3.26% 6.28% 3.96% 4.01% 4.97% 5.34% 5.43% 5.17% 5.35% 5.52% 5.59%
4.40 4.72 5.20 5.91 11.14 8.36 6.48 5.64 9.74 6.72 8.57 7.58 7.06
Interest 7.36 9.01 11.35 12.79 13.36 15.06 20.36 20.43 18.76 18.55 21.31 21.84 21.13
Depreciation 21.39 19.50 21.31 25.12 30.48 31.01 38.50 50.70 53.04 51.92 54.64 58.03 59.65
Profit before tax 20.42 3.15 1.36 36.98 5.82 8.34 8.76 12.67 8.63 9.72 13.25 26.49 19.56
Tax % 12.29% -12.06% 14.71% 21.55% -30.41% 31.89% 35.39% 27.39% 50.52% 33.54% 29.96% 31.18% 50.26%
17.91 3.53 1.17 29.02 7.58 5.01 5.19 8.48 2.27 5.42 7.80 17.46 9.07
EPS in Rs 1.87 0.37 0.00 0.10 0.03 0.02 0.01 0.03 0.01 0.01 0.02 0.06 0.02
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
574 1,111 1,768 2,441 3,774 5,144 6,386
601 1,091 1,685 2,283 3,610 4,887 6,039
Operating Profit -27 21 83 158 164 257 346
OPM % -5% 2% 5% 6% 4% 5% 5%
4 5 10 12 27 30 30
Interest 7 27 46 32 47 76 83
Depreciation 7 31 60 72 96 173 224
Profit before tax -37 -32 -12 66 47 38 69
Tax % 25% 23% -31% 7% 13% 35% 37%
-28 -25 -16 62 41 21 40
EPS in Rs -3.47 -2.87 -1.90 6.82 0.14 0.07 0.11
Dividend Payout % 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 42%
3 Years: 38%
TTM: 24%
Compounded Profit Growth
10 Years: %
5 Years: 27%
3 Years: -19%
TTM: 68%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 14 14 15 15 47 285 286
Reserves 108 216 307 475 1,292 1,093 977
Preference Capital 0 0 0 0 0 0
83 310 413 333 593 798 969
148 235 390 480 714 773 1,169
Total Liabilities 353 776 1,124 1,302 2,646 2,950 3,401
34 140 227 231 483 699 692
CWIP 0 0 2 2 24 31 6
Investments 10 138 4 1 0 38 34
308 497 892 1,067 2,138 2,182 2,668
Total Assets 353 776 1,124 1,302 2,646 2,950 3,401

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-79 -100 6 133 -354 -140 0
31 -162 15 -130 -603 140 -10
82 236 69 -38 927 5 44
Net Cash Flow 33 -26 90 -34 -30 4 34

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 45 19 20 11 9 12 14
Inventory Days 114 135 160 122 150 128 119
Days Payable 123 100 113 77 62 34 39
Cash Conversion Cycle 35 54 68 56 97 106 94
Working Capital Days 53 61 53 37 105 81 56
ROCE % -1% 5% 13% 7% 6%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
52.56% 52.43% 52.41% 52.38% 52.34% 52.28% 52.28% 52.26% 52.24% 52.22%
5.73% 5.98% 6.54% 6.57% 11.06% 12.26% 10.04% 9.84% 10.65% 10.32%
3.42% 3.12% 2.95% 3.01% 6.35% 7.86% 11.58% 14.31% 15.25% 17.16%
38.29% 38.47% 38.10% 38.03% 30.24% 27.62% 26.10% 23.60% 21.87% 20.31%
No. of Shareholders 2,53,6663,24,1643,12,2043,21,1215,66,2825,77,9535,85,6985,65,1915,08,9365,20,788

* 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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