FSN E Commerce Ventures
NSE: NYKAA · E-Retail/ E-Commerce · sector
₹329.85NSE close 2026-10-26
Key numbers
Market cap₹94,495 cr
Price₹329.85
52w high / low₹350 / ₹232
P/E370.6xSector median 13.4x
P/B65.7xSector median 3.1x
Book value₹5.0
Dividend yield–
ROE18.7%Sector median 1.3%
ROCE24.2%Sector median 3.0%
OPM7.8%Sector median 2.6%
Debt / equity0.52xSector median 0.01x
EV/EBITDA114.3xSector median 28.7x
Interest cover4.7x
Current ratio1.16x
Sales growth 3y+24.9%Sector median +40.6%
Profit growth 3y+118.0%Sector median +66.9%
PEG3.21x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 15 companies in E-Retail/ E-Commerce (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹320 cr vs borrowings ₹747 cr (FY26): borrowings are higher by ₹427 cr.
- Operating profit covered interest 4.7x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 13% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹329.85 on 2026-10-26: -5.6% from the 52-week high, +42.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹345.00 · low ₹159.45
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,875 | 2,267 | 2,062 | 2,155 | 2,346 | 2,873 | 2,648 | 2,782 |
| EBITDA | 104 | 141 | 133 | 141 | 158 | 213 | 223 | 236 |
| OPM % | 5.5% | 6.2% | 6.5% | 6.5% | 6.7% | 7.4% | 8.4% | 8.5% |
| Other income | 5 | 6 | 9 | 9 | 8 | 6 | 9 | 9 |
| Net profit | 10 | 26 | 20 | 23 | 34 | 63 | 78 | 80 |
| EPS (₹) | 0.04 | 0.09 | 0.07 | 0.08 | 0.12 | 0.22 | 0.27 | 0.28 |
| Revenue YoY | +25.1% | +26.7% | +28.4% | +29.1% | ||||
| Profit YoY | +242.9% | +142.4% | +286.5% | +243.1% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3,774 | 5,144 | 6,386 | 7,950 | 10,022 | 10,649 |
| EBITDA | 163 | 256 | 346 | 474 | 735 | 830 |
| Net profit | 41 | 19 | 32 | 66 | 199 | 256 |
| EPS (₹) | 0.88 | 0.07 | 0.11 | 0.23 | 0.70 | 0.89 |
| Revenue growth | +36.3% | +24.1% | +24.5% | +26.1% | +27.4% | |
| Profit growth | -53.1% | +67.5% | +104.8% | +201.8% | +221.1% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +24.9% | – | +27.4% |
| Net profit | +118.0% | – | +221.1% |
| EPS | +115.4% | – | – |
| Share price | – | +34.6% (2y) | +28.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,378 | 1,262 | 1,301 | 1,438 |
| Borrowings | – | 460 | 680 | 961 | 747 |
| Cash & equivalents | – | 149 | 240 | 217 | 320 |
| Total assets | – | 2,950 | 3,401 | 3,980 | 4,611 |
| Fixed assets | – | 543 | 497 | 602 | 300 |
| Capital work in progress | – | 2 | 6 | 3 | 9 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 164 | 242 | 247 | 289 |
| Inventory | – | 1,005 | 1,192 | 1,418 | 1,642 |
| Payables | – | 265 | 387 | 635 | 732 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -354 | -140 | 0 | 467 | 644 |
| Cash from investing | -603 | 140 | -10 | -205 | -159 |
| Cash from financing | 927 | 5 | 44 | -212 | -433 |
| Capex | 94 | 208 | 111 | 127 | 154 |
| Free cash flow | -448 | -348 | -110 | 339 | 490 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 1.4% | 2.6% | 5.1% | 13.9% |
| ROCE % | – | 6.1% | 7.8% | 10.4% | 20.5% |
| Debtor days | – | 12 | 14 | 11 | 11 |
| Inventory days | – | 128 | 119 | 116 | 109 |
| Payable days | – | 34 | 39 | 52 | 49 |
| Cash conversion cycle (days) | – | 106 | 94 | 75 | 71 |
| Working capital days | – | 50 | 24 | 24 | 16 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 52.07% |
| FIIs | 15.65% |
| DIIs | 22.35% |
| of which Mutual funds | 16.72% |
| of which Insurance | 4.98% |
| Government | 0.00% |
| Public (non-institutions) | 9.93% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.16% | 52.16% | 52.14% | 52.12% | 52.10% | 52.09% | 52.08% | 52.07% |
| Promoter group | % |
|---|---|
| Sanjay Nayar Family Trust (Sanjay Nayar and Falguni Nayar) | 21.02% |
| Falguni Nayar Family Trust (Falguni Nayar and Sanjay Nayar) | 21.02% |
| Anchit Nayar Family Trust (Anchit Nayar, Sanjay Nayar and Falguni Nayar) | 3.44% |
| Adwaita Nayar Family Trust (Adwaita Nayar, Sanjay Nayar and Falguni Nayar) | 3.44% |
| Adwaita Nayar - Sanjay Nayar Family Trust (Adwaita Nayar, Sanjay Nayar and Falguni Nayar) | 1.55% |
| Anchit Nayar - Sanjay Nayar Family Trust (Anchit Nayar, Sanjay Nayar and Falguni Nayar) | 1.55% |
| Anchit Sanjay Nayar | 0.03% |
| Adwaita Sanjay Nayar | 0.01% |
| Falguni Sanjay Nayar | 0.00% |
| Sanjay Omprakash Nayar | 0.00% |
| Rashmi Vinodchandra Mehta | 0.00% |
| Indira Nayar | 0.00% |
| 72 Ventures LLP | 0.00% |
| Nayar Holdings | 0.00% |
| Sealink View Probuild Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Sbi Contra Fund | 4.22% |
| Harindarpal Singh Banga | 2.86% |
| Icici Prudential Life Insurance Company Limited | 2.36% |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund | 1.87% |
| Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund | 1.70% |
| Mirae Asset Large & Midcap Fund | 1.58% |
| Hdfc Life Insurance Company Limited | 1.40% |
| Icici Prudential Large & Mid Cap Fund | 1.25% |
| Narotam.S.Sekhsaria | 1.20% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Midcap Fund | 1.17% |
| Invesco India Arbitrage Fund | 1.06% |
| Hsbc Mutual Fund - Hsbc Midcap Fund | 1.03% |
3,91,657 shareholders. Pledged: – of promoter shares.
Peers in E-Retail/ E-Commerce
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ETERNAL | ₹2,99,832 cr | 602.9x | 9.6x | 1.6% | 4.9% | 2.8% | +97.3% | – |
| MEESHO | ₹99,012 cr | – | 22.6x | -30.9% | -27.4% | -12.9% | – | – |
| NYKAA | ₹94,495 cr | 370.6x | 65.7x | 18.7% | 24.2% | 7.8% | +24.9% | – |
| SWIGGY | ₹48,666 cr | – | 2.7x | -26.3% | -19.2% | -11.8% | – | – |
| URBANCO | ₹20,113 cr | – | 10.2x | -21.5% | -17.3% | -23.2% | – | – |
| CARTRADE | ₹13,553 cr | 58.2x | 5.5x | 9.8% | 12.9% | 33.1% | +28.9% | – |
| FIRSTCRY | ₹7,966 cr | – | 1.6x | -2.6% | 0.2% | 2.6% | – | – |
| SHIPROCKET | ₹7,639 cr | – | – | – | – | – | – | – |
| RTNINDIA | ₹3,185 cr | – | 3.6x | -73.0% | – | – | +64.7% | – |
| ROBU | ₹939 cr | 38.4x | 11.0x | 35.0% | 43.9% | 11.7% | +56.8% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Beauty | ₹9,140 cr | 91.2% | ₹504 cr | 5.5% |
| Fashion | ₹832 cr | 8.3% | ₹-68 cr | -8.1% |
| Others | ₹51 cr | 0.5% | ₹-44 cr | -86.5% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2022-11-10 | Bonus | Bonus 5:1 |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Retail sale via e-commerce: The Company is engaged in the business of selling & distribution of beauty, fashion and wellness products on the online platforms or websites such as e-commerce, m-commerce, intranet, and offline channel such as Stores.
- Marketing support and marketplace service: The Company is engaged in the business of selling & distribution of beauty, fashion and wellness products on the online platforms or websites such as e-commerce, m-commerce, intranet, and offline channel such as Stores.
- Wholesale of cosmetics, Fashion Apparels (Offline - Own brands, Imported Brands, Other Brands): The Company is engaged in the business of selling & distribution of beauty, fashion and wellness products on the online platforms or websites such as e-commerce, m-commerce, intranet, and offline channel such as Stores.
| Sector | Consumer Discretionary |
| Industry | E-Retail/ E-Commerce |
| Sub-industry | E-Retail/ E-Commerce |
| Symbol | NYKAA |
| BSE code | 543384 |
| ISIN | INE388Y01029 |
| Face value | ₹1.0 |
| Incorporated | 2012-04-24 |
| Website | www.nykaa.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.