NYKAA · NSE · E-Retail/ E-Commerce
FSN E-Commerce Ventures Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: E-Commerce/App based Aggregator
No valuation view.No view: a loss-maker (growth stage), so earnings multiples do not apply.
Statements through FY2026Prices adjusted for 1 corporate actionNot yet reviewed by the adversarial model
What is FSN E-Commerce Ventures's share price today?
FSN E-Commerce Ventures last traded at ₹340.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.9% on the day, up 31.2% over a year. Its 52-week range is ₹232 to ₹350. The live price is in the app.
₹340.00
−0.9% today
+31.2% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
59 month-end closes, 30 Nov 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range92% of the way up
Low ₹232High ₹350
What is FSN E-Commerce Ventures's market cap?
FSN E-Commerce Ventures's market capitalisation is about ₹98,245 crore: what it would cost to buy every share at today's price. That makes it the 18th largest mid cap company we cover.
₹98,245 Cr
Mid Cap18th largest mid cap company
Share price₹340.00
×
Shares in issue289 crore
=
Market cap₹98,245 Cr
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: NYKAA
- ISIN
- INE388Y01029
- Cap bucket
- Mid Cap, 18th largest by market cap
- Industry (NSE)
- Consumer Discretionary › Consumer Services › Retailing › E-Retail/ E-Commerce
- Listed since
- 2021
- Futures and options
- Traded
Is FSN E-Commerce Ventures overvalued?
No valuation view yet. No view: a loss-maker (growth stage), so earnings multiples do not apply.
Valuation
Latest price and trailing 12 months
P/E
385.39
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
37.33
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹98,245 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
3.28
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is FSN E-Commerce Ventures a quality business?
Quality score 52.2; WATCH on 30 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
52.2
among 10 companies
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
5.1%
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
6.6%
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
2.4%
vs peers 4.3% · 6th of 10
Profit after everything, as a share of revenue. Learn more →
EPS
₹0.71
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has FSN E-Commerce Ventures made money for shareholders?
Yes: +31.2% over one year.
Shareholder returns
5-year return
Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+1.0%1M
+2.0%3M
+4.5%6M
+33.5%1Y
+31.2%3Y
+31.9%5Y
—— not available
Is FSN E-Commerce Ventures growing?
Revenue 3 years 24.8% a year; profit 3 years 118.0% a year; revenue 5 years 23.0% a year. History break: FY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
24.8% a year
vs peers 31.8% · 7th of 10
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
118.0% a year
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
23.0% a year
Compound annual growth of revenue over five years. Learn more →
↯
History break: FY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures.
Profit 5 years
44.2% a year
Compound annual growth of net profit over five years. Learn more →
↯
History break: FY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures.
EPS 3 years
117.6% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
12.6% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
↯
History break: FY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures.
P/E vs own history
-61.3%
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
↯
History break: FY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures.
How did FSN E-Commerce Ventures do last quarter?
FSN E-Commerce Ventures reported revenue of ₹2,782 Cr, up 26.1% on a year earlier and a net profit of ₹80 Cr, up 176.7% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹2,782 Cr
+26.1% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹80 Cr
+176.7% on a year earlier
What was left for shareholders after every cost and tax.
How does FSN E-Commerce Ventures compare with its peers?
Compared with 9 Retailing (the industry, as the basic industry was too small); the ranks are in the app.
Compared with 9 Retailing (the industry, as the basic industry was too small)
9 companies
- FSN E-Commerce Ventures Ltd (this page)
- Eternal Ltd
- Avenue Supermarts Ltd
- Trent Ltd
- Lenskart Solutions Ltd
- Meesho Ltd
- Info Edge (India) Ltd
- Swiggy Ltd
- Vishal Mega Mart Ltd
- Urban Company Ltd
FSN E-Commerce Ventures against its peers
Largest 9 of 9 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
FSN E-Commerce Ventures Ltd₹98,245 Cr385.437.35.1%6.6%+31.2%
Peer median—————−7.2%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns FSN E-Commerce Ventures?
FSN E-Commerce Ventures is held by promoters 52.1%, foreign institutions 13.7%, domestic institutions 24.1%.
Shareholding pattern
Latest filing, percent of shares
Promoters52.1%
The founders and controlling group.
Foreign institutions13.7%
Overseas funds investing through the FPI route.
Domestic institutions24.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds18.9%
Indian mutual fund schemes; part of domestic institutions.
Retail and others2.4%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about FSN E-Commerce Ventures?
23 analysts cover FSN E-Commerce Ventures, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
23 analysts
ConsensusHold
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does FSN E-Commerce Ventures do and what is it sensitive to?
FSN E-Commerce Ventures Limited (Nykaa) operates an omnichannel beauty, fashion and personal care (BPC) platform serving tech-savvy Indian consumers, particularly Gen Z and millennials, through e-commerce websites, mobile apps, physical retail stores and a B2B marketplace. Sensitive to: macroeconomic inflation and interest rates.
Business-model card
FY2026 · 54 verified
4Revenue
5Channels
4Regulators
5Reg. dependencies
4Sensitivities
7Costs
0Geographies
FSN E-Commerce Ventures Limited (Nykaa) operates an omnichannel beauty, fashion and personal care (BPC) platform serving tech-savvy Indian consumers, particularly Gen Z and millennials, through e-commerce websites, mobile apps, physical retail stores and a B2B marketplace. Revenue is generated from product sales, marketplace transaction fees, and advertising/marketing support services to brand partners.
Revenue by segment
year ended March 31, 2026
Beauty91.2%
Fashion8.3%
Others0.5%
Revenue engine
4 verified
Sale of products on own platform and offline stores
Primary revenue from direct retail of beauty, personal care and fashion products across digital and physical channels; generates revenue at transaction prices adjusted for discounts, rebates, scheme allowances and returns
Marketing support and advertising revenue
Visibility services and advertisement placement provided to brand partners at retail outlets and across web/app platforms; recognised when advertisement is displayed or services rendered
Logistics services income
Shipping and delivery charges earned from order fulfillment
1 more statement
Reward points programme revenue
Portion of transaction price allocated to customer reward points as deferred revenue; recognised upon redemption of points
Customers & channels
5 verified
Premium segment consumers via physical stores
Premium customers rely on physical retail outlets for personalized service and premium brands, contributing two-thirds of physical store gross merchandise value (GMV); in-store innovations like skin analyser tools and beauty bar events bridge online-offline experiences
Digital ecosystem across websites and mobile apps
Customer engagement through omnichannel digital platforms; company operates 12 websites and 7 mobile applications for content creation, sales and customer service with cumulative customer base of 55 million across 19,000+ pincodes
Gen Z and Millennial demographics
Core target audience of digitally-native young consumers; Millennials and Gen Z account for over 90% of beauty and fashion spending and represent 71% of India's working-age population as of FY2026
2 more statements
eB2B distribution channel to retailers
B2B marketplace serving 5 lakh retailers across 1,200 cities through electronic distribution platform
Social media and influencer networks
Engagement through 170,000+ influencers and 19+ million social media followers for content-led discovery and brand advocacy
Regulators
4 verified
SEBI and stock exchange authorities (NSE/BSE)
Regulates securities trading, insider trading, listing obligations and periodic disclosure requirements for listed companies
Ministry of Corporate Affairs and Companies Act administration
Governs corporate governance, board conduct, shareholder rights and statutory filings and compliance
Depositories Act regulator
Governs dematerialization and custodial arrangements for securities
1 more statement
Reserve Bank of India (implied interest rate and forex regulator)
Governs borrowing terms, interest rates, working capital facilities and foreign exchange management for corporate entities
Regulatory dependencies
5 verified
Data privacy and digital commerce regulation compliance
Company must comply with evolving regulatory landscape affecting retail, digital, e-commerce and consumer products; regulatory changes can impact market relevance, customer acquisition and retention
Product safety and quality standards
Company must ensure all traded and manufactured goods meet applicable product safety regulations and maintain quality standards; failure may trigger recalls or regulatory sanctions
Cybersecurity and data protection compliance
Company must maintain ISO 27001 certification, NIST Cybersecurity Framework alignment and comply with data privacy regulations governing customer and vendor information; breaches can disrupt operations and expose confidential data
2 more statements
Taxation and GST compliance
Revenue excludes taxes collected on behalf of government; changes to tax policy or GST rates affect pricing, margins and customer acquisition economics
Employment and labour law compliance
Company must comply with employment regulations governing permanent and non-permanent workers; company operates with 2,893 employees and 8,098 workers subject to labour law oversight
Sensitivities
4 verified
Macroeconomic inflation and interest rates
Persistently high inflation and interest rate variability reduce consumer discretionary spending in beauty and personal care, affecting revenue growth; interest rate increases raise borrowing costs as company relies on floating-rate working capital loans
Foreign exchange rates and currency depreciation
Company has significant exposure to imported brands and vendor payables in foreign currency; currency depreciation increases landed costs and reduces margins on imported inventory
Geopolitical tensions and global supply chain disruptions
Regional conflicts, sanctions and shipping disruptions raise freight costs, extend lead times, reduce assortment availability and delay product launches; impacts landed costs, inventory turns and customer satisfaction
1 more statement
Trade tariffs and import duties
Rising tariffs on imported beauty and fashion goods increase product costs; may force price increases that reduce demand or compress margins
Cost inputs
7 verified
Imported beauty and personal care brands inventory
Company sources extensively from international brands including Chanel, Estée Lauder, Fenty Beauty, Lancôme, L'Oréal, M·A·C, NARS and others; cost of purchase and logistics to bring to warehouse included in inventory valuation; subject to forex and supply chain volatility
Proprietary private label brands manufacturing
Company manufactures own-brand products (Nykaa Cosmetics, Kay Beauty, Dot & Key, Earth Rhythm, Wanderlust); cost includes direct materials, labour and manufacturing overheads allocated based on normal capacity
Physical store real estate and operations
Company operates 237 physical stores across 79 cities in 2.5 lakh square feet of retail space; incurs lease rent, store operations and service delivery costs; stores profitable but capital-intensive
4 more statements
Digital platform infrastructure and technology
Company incurs technology costs for e-commerce platforms, mobile applications, AI-enabled tools and cloud infrastructure; has reduced per-order infrastructure cost through in-house inference and cloud optimization
Marketing and customer acquisition
Company spent ₹1,537 crores on marketing, advertising and selling & distribution; rising customer acquisition costs from competitive intensity and shifts to AI-driven search channels affect economics
Logistics and fulfillment operations
Company operates 31 warehouses and provides same-day and next-day delivery through Nykaa Now service; logistics services income of ₹86.77 crores offset by fulfillment costs
Employee and worker costs
Company employs 2,893 employees and 8,098 workers (largely contract logistics workers); headcount of 4,000+ with 79% below 35 years requires competitive compensation and benefits
Each statement is checked word for word against the FY2026 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (4 Aug 2026).
Change log
7 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Corporate actionBonus 5:1; price history adjusted.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 30 of 30 flags judged; 1 red.
- History breakFY2022 step year (revenue +55%, shares +75%) in the 5-year growth figures: those figures span the accounts before and after it.
- Data gapsDividend yield, PEG (vendor), Business quality, 5-year return, Wealth destroyer: not available yet.
What this page rests on
✓9 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓59 months of month-end prices, adjusted for bonuses and splits (1 corporate action)○no valuation of ours yet✓business-model card FY2026 · 54 verified
Questions people ask
What is FSN E-Commerce Ventures's share price today?
FSN E-Commerce Ventures last traded at ₹340.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.9% on the day, up 31.2% over a year. Its 52-week range is ₹232 to ₹350. The live price is in the app.
What is FSN E-Commerce Ventures's market cap?
FSN E-Commerce Ventures's market capitalisation is about ₹98,245 crore: what it would cost to buy every share at today's price. That makes it the 18th largest mid cap company we cover.
Is FSN E-Commerce Ventures Ltd a large cap, mid cap or small cap?
FSN E-Commerce Ventures Ltd (NYKAA) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is FSN E-Commerce Ventures Ltd's P/E ratio?
385.39. Price divided by last year's earnings per share: how many years of today's profit you pay for.
How does FSN E-Commerce Ventures Ltd make money?
FSN E-Commerce Ventures Limited (Nykaa) operates an omnichannel beauty, fashion and personal care (BPC) platform serving tech-savvy Indian consumers, particularly Gen Z and millennials, through e-commerce websites, mobile apps, physical retail stores and a B2B marketplace. Revenue is generated from product sales, marketplace transaction fees, and advertising/marketing support services to brand partners.
Who are FSN E-Commerce Ventures Ltd's peers?
Compared with 9 Retailing (the industry, as the basic industry was too small): Eternal Ltd, Avenue Supermarts Ltd, Trent Ltd, Lenskart Solutions Ltd, Meesho Ltd and 4 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did FSN E-Commerce Ventures do last quarter?
FSN E-Commerce Ventures reported revenue of ₹2,782 Cr, up 26.1% on a year earlier and a net profit of ₹80 Cr, up 176.7% in the Jun 2026 quarter.
Who owns FSN E-Commerce Ventures?
FSN E-Commerce Ventures is held by promoters 52.1%, foreign institutions 13.7%, domestic institutions 24.1%.
What do analysts say about FSN E-Commerce Ventures?
23 analysts cover FSN E-Commerce Ventures, and the consensus is hold. A consensus is a count of opinions, not a forecast; read it beside the numbers.