FSN E-Commerce Ventures
FSN E-Commerce Ventures Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for FSN E-Commerce Ventures Ltd, framed against the sector median so the premium or discount is obvious at a glance.
FSN E-Commerce Ventures Ltd trades at a P/E of 419.86× and P/B of 60.19×, against the Consumer Cyclical sector median P/E of 19.49×.
Valuation
Profitability
Growth
Financial Health
FSN E-Commerce Ventures Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for FSN E-Commerce Ventures Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
FSN E-Commerce Ventures Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for FSN E-Commerce Ventures Ltd, switchable between annual and quarterly views, consolidated or standalone.
FSN E-Commerce Ventures Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹86,583.99 Cr and reported EPS of ₹0.71.
| Period | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue from Operations | 3,774 | 5,144 | 6,386 | 7,950 | 10,022 |
| Other Income | 27 | 30 | 30 | 27 | 33 |
| Total Income | 3,801 | 5,174 | 6,416 | 7,977 | 10,055 |
| Cost of Goods Sold (COGS) | 2,130 | 2,866 | 3,646 | 4,473 | 5,507 |
| Gross Profit | 1,644 | 2,278 | 2,739 | 3,477 | 4,516 |
| +Operating Expenses | 1,481 | 2,022 | 2,393 | 3,003 | 3,764 |
| EBITDA | 163 | 256 | 346 | 474 | 752 |
| +Non-Operating Expenses | 143 | 248 | 307 | 374 | 420 |
| Profit Before Tax (PBT) | 47 | 38 | 69 | 127 | 330 |
| +Tax Expense | 6 | 14 | 25 | 54 | 126 |
| Profit After Tax (PAT) | 41 | 21 | 40 | 72 | 204 |
| Earnings Per Share (EPS) | 0.14 | 0.07 | 0.11 | 0.23 | 0.70 |
| Diluted Shares Outstanding (Nos.) | 284 | 285 | 286 | 286 | 286 |
| +Additional Disclosures | 5,884 | 7,999 | 9,997 | 12,322 | 15,224 |
| Sales Growth % | — | 36.30 | 24.14 | 24.50 | 26.07 |
| YoY Sales Growth % | — | 36.30 | 24.14 | 24.50 | 26.07 |
| Material Cost % | 2 | 3 | 1 | 0 | 0 |
| Employee Cost % | 9 | 10 | 9 | 8 | 8 |
| Other Cost % | 31 | 30 | 29 | 29 | 30 |
| OPM % | 4 | 5 | 5 | 6 | 8 |
| Tax % | 13 | 35 | 37 | 42 | 38 |
| Profit Growth % | — | -49.23 | 89.63 | 81.31 | 182.97 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 67 | 83 | 122 | 208 | 432 |
FSN E-Commerce Ventures segment analysis: revenue and profit mix.
Disclosed business segments at FSN E-Commerce Ventures with their share of revenue and profit, switchable between consolidated and standalone reporting.
FSN E-Commerce Ventures discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
FSN E-Commerce Ventures Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy FSN E-Commerce Ventures Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
FSN E-Commerce Ventures Ltd's investment case rests on 7 positive markers and 7 flagged concerns drawn from the latest reported filings.
What you're getting.
Nykaa exhibits strong quarterly sales growth, with a remarkable 23.40% increase in Q1 2025 sales reaching ₹2155 crore, showcasing robust market demand and effective business strategies. This positive trend indicates a healthy trajectory for future revenue generation.
Despite a high P/E ratio, Nykaa's recent quarterly profit surged by 142.00%, reaching ₹24 crore. This significant improvement in profitability suggests potential for future earnings growth and improved investor sentiment, potentially justifying the high valuation.
Promoter holding remains substantial at 52.1%, indicating strong confidence in the company's future prospects and a commitment to long-term value creation. This high promoter stake can also mitigate potential risks associated with significant share dilutions.
Nykaa's Return on Equity (ROE) stands at 5.16%, reflecting the company's ability to generate returns from shareholder investments. Considering the company's growth stage, this ROE, coupled with other positive metrics, presents a promising outlook for investors.
The E-Retail/ E-Commerce industry, where Nykaa operates, is experiencing significant expansion, driven by increasing internet penetration and changing consumer preferences. This broad market growth provides a substantial tailwind for Nykaa's continued revenue and user base expansion.
What can break it.
Nykaa's Price-to-Earnings (P/E) ratio is exceptionally high at 923.00, significantly exceeding the sector average of 823.41. This high valuation raises concerns about potential overvaluation and increased risk of price corrections in the future.
The company's debt-to-equity ratio of 1.01 indicates a relatively high level of debt compared to equity. This high debt level could increase financial risk and limit the company's flexibility in responding to economic downturns or unexpected challenges.
While quarterly profits have shown improvement, the net profit margin remains low at approximately 1.08% (₹23.3 Cr PAT on ₹2155 Cr sales). This suggests the company needs to focus on improving operational efficiency to enhance profitability and long-term sustainability.
The recent five-day stock price movement shows notable volatility, with daily fluctuations up to 1.82%. This price volatility exposes investors to short-term risks and underscores the need for careful consideration before investing in the company.
The E-Retail/ E-Commerce sector is characterized by intense competition from established players and new entrants, potentially leading to pricing pressures and increased marketing expenses. This competitive landscape could impact Nykaa's market share and profitability margins.
What would change my mind.
Trim if P/E re-rates above 546 (~28.0× the sector multiple of 19.5). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 82.91. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 9%. The operating engine is no longer compounding capital efficiently.
FSN E-Commerce Ventures Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — FSN E-Commerce Ventures Ltd is highlighted for quick read-across.
Quick Compare
FSN E-Commerce Ventures Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for FSN E-Commerce Ventures Ltd — derived from the live tape, not yesterday's close.
FSN E-Commerce Ventures Ltd last traded at ₹302.3 with an intraday range of ₹298.55–₹303.7 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹302.30| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 314.78 | +12.48 | +4.13% |
| R3 | 309.63 | +7.33 | +2.43% |
| R2 | 306.67 | +4.37 | +1.44% |
| R1 | 304.48 | +2.18 | +0.72% |
| PIVOT | 301.52 | -0.78 | -0.26% |
| CURRENT | 302.30 | — | — |
| S1 | 289.03 | -13.27 | -4.39% |
| S2 | 294.18 | -8.12 | -2.68% |
| S3 | 296.37 | -5.93 | -1.96% |
| S4 | 299.33 | -2.97 | -0.98% |
NYKAA is trading Above CPR, indicating Bullishness
CPR is Average
Day's range: 298.55 ~ 302.65
Trading Inside opening range
FSN E-Commerce Ventures Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for FSN E-Commerce Ventures Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in FSN E-Commerce Ventures Ltd stood at 51.1% of traded volume, against a 20-day average of 53.8%.
FSN E-Commerce Ventures announcements: results, concalls, ratings, M&A.
Filings FSN E-Commerce Ventures sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
FSN E-Commerce Ventures files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 134 documents below.
Copy of Newspaper Publication
FSN E Commerce Ventures Limited has informed the Exchange about Copy of Newspaper Publication pertaining to Notice of Postal Ballot.
Analysts/Institutional Investor Meet/Con. Call Updates
FSN E Commerce Ventures Limited has informed the Exchange about Transcript of Analyst / Investor Meet held on May 21, 2026.
Press Release
FSN E Commerce Ventures Limited has informed the Exchange regarding a press release dated May 21, 2026, titled "Nykaa Crosses USD 1 Billion Revenue…
Investor Presentation
FSN E Commerce Ventures Limited has informed the Exchange about Investor Presentation
Outcome of Board Meeting
Outcome of Board Meeting held on May 21, 2026
Investor decks & rating reports.
FSN E-Commerce Ventures dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue FSN E-Commerce Ventures has declared, sequenced by announce and record date.
FSN E-Commerce Ventures corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About FSN E-Commerce Ventures Ltd: business, sector, key facts.
What FSN E-Commerce Ventures Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
FSN E-Commerce Ventures Ltd operates in the Consumer Cyclical, listed as NSE: NYKAA, BSE: 543384.
FSN E-Commerce Ventures Limited, operating primarily under the brand name Nykaa, is a prominent player in India's beauty and fashion e-commerce market. The company's core business revolves around the sale of a vast array of beauty, personal care, fashion, and home products catering to a diverse customer base encompassing women, men, children, and households. Their product portfolio is incredibly extensive, ranging from cosmetics and skincare to apparel, accessories, and home décor. This broad range allows them to capture a significant market share by offering a one-stop shop for many consumer needs.
Nykaa's business model encompasses both online and offline retail channels. Its robust e-commerce platform, accessible via websites and mobile applications (m-commerce), forms a major pillar of its sales strategy. This online presence is complemented by a growing network of physical retail stores, which operate under various formats such as Nykaa Luxe, Nykaa On Trend, and Nykaa Kiosks. These physical stores allow for a more tangible customer experience, offering opportunities for product testing and personalized consultations.
Beyond retail, Nykaa also engages in product manufacturing and distribution, further solidifying its position within the industry. They own and operate several in-house brands, including Nykaa Cosmetics, Kay Beauty, Dot & Key, and others, allowing for greater control over product quality, pricing, and brand messaging. This vertical integration differentiates Nykaa from many competitors, enhancing profitability and allowing them to offer exclusive product lines. Furthermore, the company also markets and distributes products from other brands, expanding their product selection and partnerships.
In summary, Nykaa's success stems from its multi-faceted business approach. It combines a strong online presence with strategically located physical stores, leverages its own in-house brands alongside third-party offerings, and manages the entire process from manufacturing and distribution to marketing and sales. This vertically integrated model allows for greater control over the supply chain and brand image, contributing significantly to their competitive edge in the rapidly expanding Indian beauty and fashion market.
Questions investors ask about FSN E-Commerce Ventures Ltd (NYKAA).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of FSN E-Commerce Ventures Ltd (NYKAA)?
The current share price of FSN E-Commerce Ventures Ltd (NYKAA) is ₹302.3. Today, the stock has gained by ₹4.20 (1.41%), trading in a range of ₹298.55 to ₹303.7. The stock opened at ₹299.2 with a trading volume of 1,36,10,176 shares.
02Is FSN E-Commerce Ventures Ltd stock a good investment for long-term?
FSN E-Commerce Ventures Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹86,583.99 crores, P/E ratio of 419.86, ROE of 14.34%, and ROCE of 9.59%. The dividend yield stands at 0.00%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of FSN E-Commerce Ventures Ltd stock?
The 52-week high price of FSN E-Commerce Ventures Ltd (NYKAA) is ₹303.75, while the 52-week low is ₹193.14. Currently trading at ₹302.3, the stock is 98.7% away from its 52-week low and 0.5% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy FSN E-Commerce Ventures Ltd stock at the current price?
Whether to buy FSN E-Commerce Ventures Ltd stock at ₹302.3 depends on multiple factors. The stock is currently trading with a P/E ratio of 419.86 and P/B ratio of 60.19. Today's performance shows a gain of 1.41%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of FSN E-Commerce Ventures Ltd and when is the next dividend?
FSN E-Commerce Ventures Ltd offers a dividend yield of 0.00%, which means for every ₹100 invested at the current price of ₹302.3, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹1.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of FSN E-Commerce Ventures Ltd?
FSN E-Commerce Ventures Ltd's key financial metrics include: P/E Ratio: 419.86, P/B Ratio: 60.19, ROE: 14.34%, ROCE: 9.59%, Dividend Yield: 0.00%, EPS: ₹0.71, Book Value: ₹4.95, and Debt-to-Equity: 82.41. The company's market cap stands at ₹86,583.99 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is FSN E-Commerce Ventures Ltd stock performing today in the market?
FSN E-Commerce Ventures Ltd stock opened at ₹299.2 and is currently trading at ₹302.3, showing a gain of ₹4.20 (1.41%). The intraday high is ₹303.7 and low is ₹298.55. The trading volume stands at 1,36,10,176 shares, indicating strong market participation today.
08What is the P/E ratio of FSN E-Commerce Ventures Ltd and what does it indicate?
FSN E-Commerce Ventures Ltd has a Price-to-Earnings (P/E) ratio of 419.86, which means investors are willing to pay ₹419.86 for every ₹1 of earnings. With an EPS of ₹0.71, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about FSN E-Commerce Ventures Ltd (NYKAA) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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