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 ₹ 49,923 Cr.
- Current Price ₹ 175
- High / Low ₹ 196 / 130
- Stock P/E 1,547
- 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 39.7 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.
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 | 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: | 21% |
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% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Jun
- Closure of Trading Window 17 Jun
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 14 Jun
- Announcement under Regulation 30 (LODR)-Investor Presentation 14 Jun
- Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jun
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.