FSN E-Commerce Ventures Ltd
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]
- Market Cap ₹ 50,483 Cr.
- Current Price ₹ 177
- High / Low ₹ 196 / 122
- Stock P/E 1,828
- Book Value ₹ 4.87
- Dividend Yield 0.00 %
- ROCE 5.52 %
- ROE 1.42 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 21.2% CAGR over last 5 years
Cons
- Stock is trading at 36.3 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 4.55% 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.
Peer comparison
Sector: E-Commerce/App based Aggregator Industry: Trading
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|
574 | 1,111 | 1,768 | 2,441 | 3,774 | 5,144 | 6,019 | |
601 | 1,091 | 1,685 | 2,283 | 3,610 | 4,887 | 5,696 | |
Operating Profit | -27 | 21 | 83 | 158 | 164 | 257 | 324 |
OPM % | -5% | 2% | 5% | 6% | 4% | 5% | 5% |
4 | 5 | 10 | 12 | 27 | 30 | 33 | |
Interest | 7 | 27 | 46 | 32 | 47 | 76 | 80 |
Depreciation | 7 | 31 | 60 | 72 | 96 | 173 | 218 |
Profit before tax | -37 | -32 | -12 | 66 | 47 | 38 | 58 |
Tax % | 25% | 23% | -31% | 7% | 13% | 35% | |
-28 | -25 | -16 | 62 | 41 | 21 | 33 | |
EPS in Rs | -3.47 | -2.87 | -1.90 | 6.82 | 0.14 | 0.07 | 0.10 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 55% |
3 Years: | 43% |
TTM: | 25% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 21% |
3 Years: | 47% |
TTM: | 13% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 37% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 3% |
3 Years: | 5% |
Last Year: | 1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|
Equity Capital | 14 | 14 | 15 | 15 | 47 | 285 | 285 |
Reserves | 108 | 216 | 307 | 475 | 1,292 | 1,093 | 1,106 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | |
83 | 310 | 413 | 333 | 593 | 798 | 966 | |
148 | 235 | 390 | 480 | 714 | 773 | 779 | |
Total Liabilities | 353 | 776 | 1,124 | 1,302 | 2,646 | 2,950 | 3,136 |
34 | 140 | 227 | 231 | 483 | 699 | 696 | |
CWIP | 0 | 0 | 2 | 2 | 24 | 31 | 1 |
Investments | 10 | 138 | 4 | 1 | 0 | 38 | 36 |
308 | 497 | 892 | 1,067 | 2,138 | 2,182 | 2,404 | |
Total Assets | 353 | 776 | 1,124 | 1,302 | 2,646 | 2,950 | 3,136 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|
-79 | -100 | 6 | 133 | -354 | -140 | |
31 | -162 | 15 | -130 | -603 | 140 | |
82 | 236 | 69 | -38 | 927 | 5 | |
Net Cash Flow | 33 | -26 | 90 | -34 | -30 | 4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|
Debtor Days | 45 | 19 | 20 | 11 | 9 | 12 |
Inventory Days | 114 | 135 | 160 | 122 | 150 | 128 |
Days Payable | 123 | 100 | 113 | 77 | 62 | 34 |
Cash Conversion Cycle | 35 | 54 | 68 | 56 | 97 | 106 |
Working Capital Days | 53 | 61 | 53 | 37 | 105 | 81 |
ROCE % | -1% | 5% | 13% | 7% | 6% |
Documents
Announcements
- Cetificate Under Regulation 40 Of SEBI LODR 15 Apr
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Announcement under Regulation 30 (LODR)-Allotment
11 Apr - Allotment of 2,17,800 equity shares towards exercise of vested stock options under the Employee Stock Option Scheme of the Company.
- Compliance Certificate Pursuant To Regulation 7(3) Of SEBI (LODR) Regulations, 2015 For The Year Ended March 31, 2024 8 Apr
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr
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Nykaa Quarterly Update - Q4 FY2024
7 Apr - Communication on Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) which is self-explanatory.
Concalls
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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.