FSN E-Commerce Ventures Limited

BSE: NYKAA543384ISIN INE388Y01029

Consumer Discretionary
E-Retail/ E-Commerce
BSE 200

BSE listing

Share price

₹326.00+2.40 (+0.74%)

as of 18 Sep 2026

52W high: ₹351.00
52W low: ₹218.75
Off 52W high: -7.12%
1M return: -0.46%
3M return: +7.75%
6M return: +35.07%
1Y return: +32.57%
20D avg volume: 1,86,747
50 DMA: ₹331.68
200 DMA: ₹280.84

Key ratios Consolidated

Market cap: ₹93,376 Cr
Current price: ₹326.00
52W high / low: ₹351.00 / ₹218.75
Face value: ₹1.00
P/E: 360.15
P/B: —
EPS (TTM): ₹0.91
Book value / share: —
ROE: —
ROCE: 24.10%
Operating margin: —
Net margin: —
Debt / equity: 0.50
Net debt: ₹570.01 Cr
Interest cover: 3.82
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 43.6 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	2,782	2,648	2,873	2,346	2,155	2,062	2,267	1,875	1,746	1,668	1,789	1,507
	9.31	9.15	6.26	8.03	9.33	8.95	5.53	5.45	7.33	7.06	7.58	8.57
	2,662	2,536	2,754	2,298	2,121	2,031	2,228	1,859	1,731	1,655	1,770	1,502
	4.14	8.73	2.21	0.34	3.33	1.28	2.78	1.45	2.59	7.49	23.52	15.51
	1,758	1,573	1,505	1,197	1,444	1,140	1,285	1,086	1,172	1,018	1,232	553.02
	224.85	203.84	202.90	182.77	182.02	174.12	174.60	161.49	155.86	142.07	147.93	136.32
	26.74	26.33	29.16	31.47	30.16	29.85	31.93	24.23	21.31	21.13	21.84	21.31
	89.46	84.22	80.88	79.09	76.14	72.90	69.82	63.62	60.06	59.65	58.03	54.64
	814.68	776.53	864.82	711.82	638.81	601.55	—	—	51.31	474.89	514.04	432.68
	129.16	121.52	125.98	56.42	43.71	39.55	44.56	21.26	22.08	19.56	26.49	13.26
	0.00	0.00	-16.36	-1.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	129.16	121.52	109.62	55.38	43.71	39.55	44.56	21.26	22.08	19.56	26.49	13.26
	49.40	42.77	41.88	22.40	19.24	20.50	17.59	7.82	7.84	9.82	8.26	3.97
	79.76	78.75	67.74	32.98	24.47	19.05	26.41	12.97	13.64	9.07	17.45	7.80
	0.28	0.27	0.22	0.12	0.08	0.07	0.09	0.04	0.03	0.02	0.06	0.02
Key metrics
	245.36	232.07	219.66	165.94	150.01	142.30	146.31	109.11	103.45	100.34	106.36	89.21
	8.80%	8.80%	7.60%	7.10%	7.00%	6.90%	6.50%	5.80%	5.90%	6.00%	5.90%	5.90%
	2.90%	3.00%	2.40%	1.40%	1.10%	0.90%	1.20%	0.70%	0.80%	0.50%	1.00%	0.50%
	—	8.00%	—	5.00%	—	3.80%	—	—	—	—	—	—
	29.10%	28.40%	26.70%	25.10%	23.40%	23.60%	26.70%	24.40%	—	—	—	—
	226.00%	313.40%	156.50%	154.30%	79.40%	110.00%	51.30%	66.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	10,649	10,022	7,950	6,386	5,144	3,774
	32.75	32.77	27.26	29.94	30.21	26.97
	10,249	9,707	7,850	6,347	5,136	3,754
	15.42	14.61	8.10	65.11	159.43	84.31
	6,032	5,719	4,683	3,782	2,848	2,408
	814.36	771.53	666.07	564.90	491.72	325.94
	113.70	117.12	107.32	82.83	74.61	46.51
	333.65	320.33	266.40	224.23	173.26	96.41
	3,168	2,992	2,337	1,828	1,530	1,155
	433.08	347.63	127.45	69.03	38.40	47.31
	-17.40	-17.40	0.00	0.00	0.00	0.00
	415.68	330.23	127.45	69.03	38.40	47.31
	156.45	126.29	53.75	25.31	13.57	6.02
	259.23	203.94	72.07	39.75	20.96	41.29
	0.89	0.70	0.23	0.11	0.07	0.88
Key metrics
	863.03	767.68	501.17	376.09	286.27	190.23
	8.10%	7.70%	6.30%	5.90%	5.60%	5.00%
	2.43%	2.00%	0.90%	0.60%	0.40%	1.10%
	—	24.10%	12.90%	—	—	—
	—	26.10%	24.50%	24.10%	36.30%	—
	—	183.00%	81.30%	89.60%	-49.20%	—
	—	490.43	339.41	—	—	—
	—	3.16	6.47	—	—	—
	—	0.50	0.72	—	—	—
	—	570.01	836.42	—	—	—
	—	43.6	47.3	—	—	—
Balance sheet
	—	4,611	3,980	—	—	—
	—	3,189	2,677	—	—	—
	—	177.20	124.94	—	—	—
	—	289.38	246.61	—	—	—
	—	1,642	1,418	—	—	—
	—	625.12	526.48	—	—	—
	—	299.97	601.58	—	—	—
	—	732.50	634.83	—	—	—
	—	2,758	2,161	—	—	—
	—	747.21	961.36	—	—	—
	—	728.88	851.15	—	—	—
	—	18.33	110.21	—	—	—
	—	1,502	1,343	—	—	—
Cash flow
	—	644.30	466.63	—	—	—
	—	-158.94	-205.43	—	—	—
	—	-433.10	-212.04	—	—	—
	—	153.87	127.22	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	75.42	102.03	95.67	76.97	81.83	88.57	119.14	109.41	102.83	93.59	38.30	25.21
	52.27	61.13	47.53	40.56	40.10	37.34	41.01	39.81	39.18	61.44	45.09	39.10
	114.91	113.42	111.82	101.01	104.49	105.71	128.67	127.43	118.08	99.73	66.07	57.04
	0.20	0.64	0.21	1.52	1.56	2.47	2.78	1.45	2.59	—	—	—
	39.41	41.39	43.63	29.77	27.83	44.82	44.58	44.97	31.34	32.72	14.34	5.08
	18.65	17.64	16.25	17.62	16.10	16.57	15.26	15.54	18.74	14.15	11.03	10.18
	4.79	4.65	2.67	2.50	2.35	1.98	2.50	1.56	1.86	1.67	1.71	1.75
	6.34	5.43	3.71	3.98	3.20	3.38	2.87	3.00	2.32	2.04	1.92	1.75
	49.00	45.86	51.19	42.64	42.39	41.29	5.93	6.53	52.84	47.01	34.24	31.56
	12.78	49.74	31.38	16.52	17.44	20.20	31.48	21.79	23.93	55.29	17.32	7.26
	0.00	0.00	-2.13	0.00	0.00	0.00	—	—	—	—	—	—
	12.78	49.74	29.25	16.52	17.44	20.20	31.48	21.79	23.93	55.29	17.32	7.26
	3.21	8.70	7.57	4.27	4.52	5.58	7.02	5.63	18.30	33.38	4.20	1.27
	9.57	41.04	21.68	12.25	12.92	14.62	24.46	16.16	42.23	88.67	13.12	5.99
	0.03	0.14	0.08	0.04	0.05	0.05	0.09	0.06	0.15	0.31	0.05	0.02
Key metrics
	23.91	59.82	35.63	23.00	22.99	25.56	36.85	26.35	28.11	59.00	20.95	10.76
	31.70%	58.60%	37.20%	29.90%	28.10%	28.90%	30.90%	24.10%	27.30%	63.00%	54.70%	42.70%
	12.70%	40.20%	22.70%	15.90%	15.80%	16.50%	20.50%	14.80%	41.10%	94.70%	34.30%	23.80%
	—	2.80%	—	1.10%	—	1.30%	—	—	—	—	—	—
	-7.80%	15.20%	-19.70%	-29.60%	-20.40%	-5.40%	211.10%	334.00%	—	—	—	—
	-25.90%	180.70%	-11.40%	-24.20%	-69.40%	-83.50%	86.40%	169.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	350.09	356.51	419.95	257.96	217.80	187.70
	201.49	189.33	157.33	184.60	128.69	115.71
	441.16	430.78	479.99	352.58	265.86	181.71
	2.57	3.93	9.30	—	58.91	72.07
	154.20	142.62	165.66	103.47	21.01	19.40
	70.16	67.62	66.12	60.24	36.52	28.79
	14.61	12.17	7.91	6.89	7.45	5.89
	19.46	16.31	11.58	7.73	7.06	4.68
	188.69	182.12	202.66	170.83	129.14	83.51
	110.42	115.06	97.29	89.98	80.63	121.69
	-2.13	-2.13	0.00	—	—	—
	108.29	112.93	97.29	89.98	80.63	121.69
	23.75	25.07	0.07	27.11	19.32	18.18
	84.54	87.86	97.36	117.09	61.31	103.51
	0.29	0.31	0.34	0.41	0.22	2.22
Key metrics
	142.36	141.41	116.78	104.60	95.14	132.26
	40.66%	39.70%	27.80%	40.50%	43.70%	70.50%
	24.15%	24.60%	23.20%	45.40%	28.10%	55.10%
	—	6.50%	6.30%	—	—	—
	—	-15.10%	62.80%	18.40%	16.00%	—
	—	-9.80%	-16.90%	91.00%	-40.80%	—
	—	24.83	124.35	—	—	—
	—	0.72	1.46	—	—	—
	—	0.10	0.05	—	—	—
	—	177.30	70.24	—	—	—
	—	157.3	79.7	—	—	—
Balance sheet
	—	2,162	1,890	—	—	—
	—	510.03	411.71	—	—	—
	—	4.70	5.50	—	—	—
	—	95.75	47.71	—	—	—
	—	77.61	86.12	—	—	—
	—	20.03	23.57	—	—	—
	—	30.92	34.21	—	—	—
	—	19.70	42.25	—	—	—
	—	238.41	209.43	—	—	—
	—	182.00	75.74	—	—	—
	—	87.00	75.74	—	—	—
	—	95.00	0.00	—	—	—
	—	1,803	1,660	—	—	—
Cash flow
	—	63.29	142.58	—	—	—
	—	-194.35	-146.09	—	—	—
	—	130.26	7.57	—	—	—
	—	38.46	18.23	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +17.85%
Sales CAGR 5Y: —
Sales CAGR 10Y: —
Profit CAGR 3Y: +12.74%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): -12.25%
Profit YoY (TTM): +24.03%

Consolidated

Sales CAGR 3Y: +24.90%
Sales CAGR 5Y: —
Sales CAGR 10Y: —
Profit CAGR 3Y: +113.49%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +27.41%
Profit YoY (TTM): +212.70%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 52.06%

Holder	Type	Holding	Previous	Change
Falguni Nayar Family Trust (Falguni Nayar and Sanjay Nayar)	Promoter	21.02%	—	—
Sanjay Nayar Family Trust (Sanjay Nayar and Falguni Nayar)	Promoter	21.02%	—	—
Sbi Contra Fund	Public	4.22%	—	—
Adwaita Nayar Family Trust (Adwaita Nayar, Sanjay Nayar and Falguni Nayar)	Promoter Group	3.44%	—	—
Anchit Nayar Family Trust (Anchit Nayar, Sanjay Nayar and Falguni Nayar)	Promoter Group	3.44%	—	—
Harindarpal Singh Banga	Public	2.86%	—	—
Icici Prudential Life Insurance Company Limited	Public	2.71%	—	—
Mirae Asset Large & Midcap Fund	Public	2.64%	—	—
Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund	Public	2.29%	—	—
Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund	Public	1.87%	—	—
Anchit Nayar - Sanjay Nayar Family Trust (Anchit Nayar, Sanjay Nayar and Falguni Nayar)	Promoter Group	1.55%	—	—
Adwaita Nayar - Sanjay Nayar Family Trust (Adwaita Nayar, Sanjay Nayar and Falguni Nayar)	Promoter Group	1.55%	—	—
Icici Prudential Large & Mid Cap Fund	Public	1.54%	—	—
Hdfc Life Insurance Company Limited	Public	1.49%	—	—
Invesco India Arbitrage Fund	Public	1.30%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Disclosure in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - ESG Rating11 Sep 2026 · Company Update / Credit Rating
Allotment of 1,80,870 Equity shares pursuant to exercise of vested stock option by the employees under the Employee Stock Option Schemes of the Company5 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Update on completion of acquisition of additional 24.2% equity shareholding in Earth Rhythm Private Limited, a subsidiary of the Company5 Sep 2026 · Company Update / General
Scrutinizer''s Report and Voting Results of the 14th Annual General Meeting held on August 25, 2026.26 Aug 2026 · AGM/EGM / AGM
Proceedings of the 14th Annual General Meeting of the Company held on August 25, 2026.25 Aug 2026 · AGM/EGM / AGM
Presentation made at the 14th Annual General Meeting of the Company held on August 25, 2026.25 Aug 2026 · AGM/EGM / AGM
Chairperson''s Speech delivered at the 14th Annual General Meeting held on August 25, 2026.25 Aug 2026 · AGM/EGM / AGM
Redemption of Unlisted, Unsecured, Unrated, Redeemable, Non-Convertible Debentures ("NCDs") by Nykaa E-Retail Limited, a wholly owned subsidiary of the Company12 Aug 2026 · Company Update / General
Allotment of 2,26,200 Equity shares pursuant to exercise of vested stock option by the employees under the Employee Stock Option Schemes of the Company9 Aug 2026 · Company Update / Allotment of ESOP / ESPS
Please find enclosed herewith the Transcript of Analyst / Investor Meet held on August 04, 2026.7 Aug 2026 · Company Update / Earnings Call Transcript
Please find enclosed herewith schedule of Analyst/ Institutional Investor Meet.6 Aug 2026 · Company Update / Analyst / Investor Meet
Please find enclosed herewith the Newpaper Publication.5 Aug 2026 · Company Update / Newspaper Publication
Audio and Video Recording of the Conference Call for Analyst/Institutional Investor4 Aug 2026 · Company Update / Analyst / Investor Meet
Press Release issued by the Company titled "Nykaa begins FY2027 on a strong note with Q1 FY2027 Net Revenue growth accelerating to 29% YoY and robust PAT Growth of 226% YoY" & "Nykaa acquires ....4 Aug 2026 · Company Update / Press Release / Media Release
Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.4 Aug 2026 · Result / Financial Results
Acquisition of 51% shareholding on a fully diluted basis in Aminu Wellness Private Limited.4 Aug 2026 · Company Update / Acquisition
Investor Presentation for Analyst / Institutional Investors call.4 Aug 2026 · Company Update / Investor Presentation
Outcome of Board Meeting held on August 04, 2026.4 Aug 2026 · Board Meeting / Outcome of Board Meeting
Please find enclosed herewith copies of newspaper publication regarding Notice of the 14th Annual General Meeting of the Company, E-Voting and other related information.2 Aug 2026 · Company Update / Newspaper Publication
Communication sent to the Members with respect to the Integrated Annual Report, including Notice of the Annual General Meeting for FY2025-26.1 Aug 2026 · AGM/EGM / AGM
Business Responsibility and Sustainability Report for FY2025-26.1 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Please find enclosed herewith Integrated Annual Report FY 2025-26 of FSN E-Commerce Ventures Limited.1 Aug 2026 · Others / Reg. 34 (1) Annual Report
Notice of the 14th Annual General Meeting of FSN E-Commerce Ventures Limited scheduled to be held on August 25, 2026.1 Aug 2026 · AGM/EGM / AGM
Please find enclosed herewith the Newspaper Publication.30 Jul 2026 · Company Update / Newspaper Publication
Schedule of Conference Call for Analysts/Institutional Investors27 Jul 2026 · Company Update / Analyst / Investor Meet
FSN E-Commerce Ventures Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/08/2026 ,inter alia, to consider and approve the Unaudited Standalone ....27 Jul 2026 · Board Meeting / Board Meeting
Outcome of Board Meeting held on July 23, 2026 - Change in Statutory Auditors of the Company23 Jul 2026 · Company Update / Change in Management
Outcome of Board Meeting held on July 23, 202623 Jul 2026 · Others / Outcome without intimation
Allotment of 63,637 Equity shares pursuant to exercise of vested stock options by the employees under the Employee Stock option schemes of the Company10 Jul 2026 · Company Update / Allotment of ESOP / ESPS
Please find enclosed herewith Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for quarter ended June 30, 2026.8 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please find enclosed herewith a communication on Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) which is self-explanatory5 Jul 2026 · Company Update / General
Please find enclosed herewith Scrutinizer''s Report and Voting Results regarding the Notice of Postal Ballot dated May 15, 2026.29 Jun 2026 · AGM/EGM / Postal Ballot
Intimation of Closure of Trading Window23 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Press release issued by the Company titled "Nykaa Sets the Course for its Next Growth Chapter; Targets USD 5 Billion+ GMV Beauty and Lifestyle Business by FY30"18 Jun 2026 · Company Update / Press Release / Media Release
Please find enclosed herewith investor presentation18 Jun 2026 · Company Update / Investor Presentation
Please find enclosed herewith response letter to the clarification sought.17 Jun 2026 · Company Update / General
The Exchange has sought clarification from FSN E-Commerce Ventures Ltd on June 17, 2026, with reference to news appeared in https://www.moneycontrol.com/ dated June 17, 2026 quoting "Nykaa ....17 Jun 2026 · Company Update / Clarification
Intimation for Conference Call for Analysts/ Institutional Investors.10 Jun 2026 · Company Update / Analyst / Investor Meet
Allotment of 3,16,250 Equity shares pursuant to the exercise of vested stock options by the employees under Employee Stock Option Schemes of the Company5 Jun 2026 · Company Update / Allotment of ESOP / ESPS
Annual Secretarial Compliance Report for the financial year ended March 31, 2026.29 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance

Board meetings

4 Aug 2026 Board Meeting - Financial Results