FSN E-Commerce Ventures Ltd.
Consumer Goods · NSE
52-week range
₹189 – ₹286
From 52w high
-4.5%
RSI (14)
62.4
vs SMA 50 / 200
↑ 50 · ↑ 200
Nykaa (FSN E-Commerce Ventures) is an NSE-listed beauty and personal care e-commerce platform trading at 272.90, up 39.49% over the past year and currently above its 50-DMA (256) and 200-DMA (249). The business has posted a 5-year revenue CAGR of 26.7% and a 5-year earnings CAGR of 144.4%, but net profit margin remains thin at 1.5% and a forward PE of 175.95x reflects very high growth expectations. Fundamental persistence metrics are weak across all four tracked dimensions simultaneously, and debt-to-equity of 97.75 is elevated for a non-financial consumer company.
- ✓Revenue compounded at 26.7% annually over 5 years and reported earnings CAGR of 144.4% over the same period, indicating the business is scaling from a very low earnings base
- ✓Quality score of 47 ranks 2nd out of 6 sector peers, above ASIANPAINT (23), TITAN (34), DMART (37), and ETERNAL (41)
- ✓CRISIL reaffirmed an A/Stable credit rating on 178 crore of bank facilities in May 2026, signalling no near-term credit deterioration
- ✓Price sits 4.45% below its 52-week high with RSI at 62.46 (neutral), above both the 50-DMA at 256 and 200-DMA at 249
- ✗Net profit margin is 1.5% and FCF has been positive in only 1 of the tracked fiscal years, reflecting a business that has not yet converted revenue scale into durable free cash generation
- ✗Debt-to-equity stands at 97.75 for a consumer-facing e-commerce company outside the financial sector, and the debt trend is classified as rising
- ✗ROE has been above 15% in zero of the tracked fiscal years, and the overall consistency score of 34/100 indicates earnings quality and capital efficiency have been persistently weak
- ✗Forward PE of 175.95x embeds significant growth expectations; a narrow 1.5% profit margin leaves limited buffer if revenue growth or margin expansion disappoints
- ·CRISIL reaffirmed the A/Stable credit rating on FSN E-Commerce Ventures' 178 crore bank facilities in early May 2026, with no negative outlook change
- ·FSN E-Commerce Ventures allotted 1,25,500 equity shares under its employee stock option scheme in May 2026, a small but incremental dilutive event
- ·News sentiment across 8 recent articles is neutral-to-positive with 3 positive, 5 neutral, and 0 negative items — no adverse regulatory or operational headlines in the tracked window
- ?At what net profit margin and revenue run-rate would the current forward PE of 175.95x be justified by the company's own growth trajectory, and how does the historical 5-year earnings path compare to that implied pace?
- ?Given FCF has been positive in only 1 recorded year and debt is rising, what is the company's path to sustained free cash generation and over what horizon does management guide for that inflection?
- ?How does Nykaa's 1.5% net margin compare to omnichannel beauty and personal care peers globally, and is the margin trajectory improving or compressing in recent quarterly reporting?
- ?The stock is up 39.49% over 1 year despite thin margins and elevated leverage — what specific catalysts drove that re-rating and are those catalysts durable or one-time in nature?
PE
—
Forward PE
175.9
ROE
—
Profit margin
+1.5%
D/E
97.75
Dividend yield
—
Quality score
47/100
ROE 5y above 15%
0/5 yrs
FCF 5y positive
1/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 11 May 2026.