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 ₹ 51,624 Cr.
- Current Price ₹ 181
- High / Low ₹ 230 / 150
- Stock P/E 979
- Book Value ₹ 4.56
- Dividend Yield 0.00 %
- ROCE 6.87 %
- 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 39.3 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 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
Part of BSE 500 Nifty Midcap 100 BSE 250 LargeMidCap Index Nifty LargeMidcap 250 Nifty Midcap 150
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 | TTM | |
---|---|---|---|---|---|---|---|---|
574 | 1,111 | 1,768 | 2,441 | 3,774 | 5,144 | 6,386 | 7,556 | |
601 | 1,091 | 1,685 | 2,283 | 3,610 | 4,887 | 6,039 | 7,122 | |
Operating Profit | -27 | 21 | 83 | 158 | 164 | 257 | 347 | 434 |
OPM % | -5% | 2% | 5% | 6% | 4% | 5% | 5% | 6% |
4 | 5 | 10 | 12 | 27 | 30 | 30 | 25 | |
Interest | 7 | 27 | 46 | 32 | 47 | 76 | 84 | 99 |
Depreciation | 7 | 31 | 60 | 72 | 96 | 173 | 224 | 253 |
Profit before tax | -37 | -32 | -12 | 66 | 47 | 38 | 69 | 107 |
Tax % | -25% | -23% | 31% | 7% | 13% | 35% | 37% | |
-28 | -25 | -16 | 62 | 41 | 21 | 40 | 62 | |
EPS in Rs | -3.47 | -2.87 | -1.90 | 6.82 | 0.14 | 0.07 | 0.11 | 0.18 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 42% |
3 Years: | 38% |
TTM: | 26% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 27% |
3 Years: | -19% |
TTM: | 91% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -14% |
1 Year: | 9% |
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 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|
Equity Capital | 14 | 14 | 15 | 15 | 47 | 285 | 286 | 286 |
Reserves | 108 | 216 | 307 | 475 | 1,292 | 1,093 | 977 | 1,019 |
83 | 310 | 413 | 333 | 593 | 798 | 969 | 1,306 | |
148 | 235 | 390 | 479 | 714 | 773 | 1,169 | 1,112 | |
Total Liabilities | 353 | 776 | 1,124 | 1,302 | 2,646 | 2,950 | 3,401 | 3,723 |
34 | 140 | 227 | 231 | 483 | 699 | 668 | 714 | |
CWIP | 0 | 0 | 2 | 2 | 24 | 31 | 30 | 2 |
Investments | 10 | 138 | 4 | 1 | 0 | 38 | 34 | 33 |
308 | 497 | 892 | 1,067 | 2,138 | 2,182 | 2,668 | 2,974 | |
Total Assets | 353 | 776 | 1,124 | 1,302 | 2,646 | 2,950 | 3,401 | 3,723 |
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% | 7% |
Documents
Announcements
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Closure of Trading Window
24 Mar - Closure of trading window for insider trading.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
20 Mar - Allotment of 1,01,350 equity shares pursuant to exercise of vested stock options by the employees under the Employee Stock Option Schemes of the Company
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Incorporation Of A New Wholly Owned Subsidiary Company
11 Mar - Incorporation of Nykaa Essentials Private Limited as a subsidiary.
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Clarification About The NYKAA'S IPO Price Mentioned In The Article In The Economic Times Dated February 25, 2025 With The Subject 'Listed Startups Get A Delivery Of Reality: It'S Hot On The Street'
25 Feb - Clarification on NYKAA's IPO price in Economic Times.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
24 Feb - Allotment of 90,500 equity shares pursuant to exercise of vested stock options by the employees under the Employee Stock Option Schemes of the Company
Annual reports
Concalls
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Feb 2025Transcript PPT REC
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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.