FSN E-Commerce Ventures share price & results

FSN E-Commerce Ventures Limited· Consumer Services· Consumer Discretionary

Results to: Jun 2026
Latest analysed call: Q1 FY27
Ownership as of: Sept 2026

India's leading omnichannel beauty and fashion retailer, blending an online marketplace with physical stores and a B2B distribution arm.

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Guidance Hit Rate

12 targets · 75% hit rate 3 achieved · 8 active →

Segment Shift

3 segments tracked See revenue & margin mix below →

Reverse DCF

Implied Growth Test priced-in growth in DCF tool →

Concall & Tone

Q1 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹353.65 +1.23% · +₹4.3

Last close 2 Nov 2026 · NSE · INR · Source: Inve

Performance +42.6% 1Y

1Y: ₹247.94 on 31 Oct 2025 → ₹353.65. High ₹353.65 (2 Nov 2026), low ₹234.7 (23 Jan 2026).

Previous close: ₹349.35
Market cap: ₹1.0L Cr
52-week range: ₹234.7 – ₹353.65
One year: +41.41%
Price to earnings (TTM to Jun 2026): 377.40×
Return on equity (TTM to Jun 2026): 19.53%

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	2,782 ₹ crore	+29.1% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	8.0 %	+1.0 pts YoY	Operating profit / revenue	Quarter to Jun 2026	For the quarter; a change is in percentage points.
Net profit	80.0 ₹ crore	+233.3% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.
Return on equity	19.53 %	+10.2 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Jun 2026	Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin	4.91 %	+0.6 ptsFY Mar 2026 vs FY Mar 2025	Fiscal year	FY ending Mar 2026	(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)	27.40 %	+1.6 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Jun 2026	Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Business Mix

Where revenue comes from

3 operating segments · As of 30 Jun 2026

Beauty 90.5% · ₹2,516.33 Cr +27.4% YoY

Fashion 9.1% · ₹252.63 Cr +47.9% YoY

Others 0.5% · ₹13.04 Cr +49.2% YoY

Explore full multi-period segment shift & margins →

Guidance

What management said, and what became of it

3 of 4 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

Target	Original wording	Said	Latest call	Verdict
Operations Fashion Segment EBITDA	Breakeven of fashion by FY '26 Call transcript, Q4 FY25 · 30 May 2025	Q4 FY25	Q1 FY27:Maintained profitability with 0.1% EBITDA margin in Q1 FY27, confirming the turnaround. Call transcript, Q1 FY27 · 4 Aug 2026	Achieved
Operations Dot & Key EBITDA Margin	Aiming for 20% (like FMCG brands) Call transcript, Q1 FY26 · 12 Aug 2025	Q1 FY26	Q1 FY27:No specific update on Dot & Key's EBITDA margin provided for the second consecutive quarter. Call transcript, Q1 FY27 · 4 Aug 2026	Ghosted
Operations Superstore eB2B EBITDA Margin	Invest for a few more years before it gets to profitability Call transcript, Q4 FY25 · 30 May 2025	Q4 FY25	Q1 FY27:Superstore (eB2B) EBITDA margin improved by over 300 bps YoY. Call transcript, Q1 FY27 · 4 Aug 2026	On Track

Source: Inve Guidance Tracker for FSN E-Commerce Ventures Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of FSN E-Commerce Ventures Limited's 12 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Products, transactions and disclosed impact

Company disclosures with supporting evidence. Expectations and unresolved details remain qualified.

2026-08-04 · acquisition · reported stage: signed

FSN E-Commerce Ventures Limited — acquires — Aminu

Party roles: acquirer / transaction asset · signed · agreement: not established

Products and services

51% stake in Aminu · role: transaction asset · category: business asset

Disclosed figures

Aminu: 51% · stake transferred · today
Aminu: remaining 49% · other stated measure · over the next few years
Aminu: INR 19 crores · target historical revenue · FY26
Evidence and remaining questions

“we are acquiring Aminu”

51% stake in Aminu: “we are acquiring 51% today”

51%: “we are acquiring 51% today”
remaining 49%: “The remaining 49% will be acquired over the next few years”
INR 19 crores: “in FY26, it closed with INR 19 crores of net revenue”

Aminu is described as a premium dermocosmetic skin care brand
“we are acquiring Aminu, which is a premium dermocosmetic skin care brand”
Address the premium skin care space and fill a gap in the portfolio with strong R&D capabilities
“Acquisition of a premium dermocosmetic skin care brand to address the premium skin care space and fill a gap in the portfolio with strong R&D capabilities.”
Remaining 49% to be acquired over the next few years under terms set out in documents; terms not provided
“The remaining 49% will be acquired over the next few years as per terms that we've set out in the documents”
Consideration form recorded as undisclosed; no amount stated
“undisclosed”

Not established by the available evidence
- transcript_support: No context passages supplied; all assertions rest on the summary record only.
- seller: No seller or current owner of Aminu is stated, so no seller party is emitted.
- acquisition_vehicle: Acquirer is bound to the issuer via 'we'; the exact legal acquiring entity is not stated.
- target_legal_form: Aminu is described as a brand; whether the 51% is held in a company, brand owner or other entity is not stated. The relation object kind follows the source's 'brand' wording.
- closing_status: Raw status 'signed' is kept. 'acquiring 51% today' and the note 'Acquired 51% stake' do not state whether closing has occurred.
- agreement_type: The source mentions 'documents' but does not say whether they are definitive, so binding state is UNDETERMINED.
- effective_date: 'today' is relative to the announcement and no calendar or closing date is given. The call and report dates are disclosure metadata, not the event date.
- transaction_location: No location of the target or transaction is stated, and none is inferred from the issuer's market.
- consideration_amount: Consideration is undisclosed with a null amount, so no price, valuation or funding measurement is emitted.
- remaining_49_percent_commitment: Source does not say whether acquiring the remaining 49% is obligatory or optional, who holds the rights, or its price. It is kept as a fact and measurement, not a separate relation.
- deal_impact: Only a rationale is given. No separate effect on issuer financial metrics is stated, so impacts is empty. The 19 crore FY26 figure is target historical revenue, not a deal impact.
- target_revenue_scope: The quote says 'net revenue' for 'it' (Aminu). The structured field is labelled revenue, INR crores, FY26. The two are treated as the same figure.

Counterparties named by FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited acquires or invests in Aminu.

Q1 FY27 · announced · positive

Acquisition of a premium dermocosmetic skin care brand to address the premium skin care space and fill a gap in the portfolio with strong R&D capabilities.

“We're also excited today to announce that we are acquiring Aminu, which is a premium dermocosmetic skin care brand... we are acquiring 51% today. The remaining 49% will be acquired over the next few years as per terms that we've set out in the documents... in FY26, it closed with INR 19 crores of net revenue.”
FSN E-Commerce Ventures Limited acquires or invests in Earth Rhythm.

Q4 FY26 · closed · positive

Acquisition with Earth Rhythm

“We had acquired 76% stake in Earth Rhythm over a couple of tranches between FY '23 and FY '25, as you are aware, and we now completed the acquisition by acquiring an additional 24% stake and which happened at pre-agreed terms.”
FSN E-Commerce Ventures Limited acquires or invests in Nudge.

Q1 FY26 · closed · positive

Sharper strategic focus, accelerated decision-making under health and wellness, significant opportunity in the category.

Disclosed value: INR 14.2 lakhs

“Our Board has approved the acquisition of the remaining 40% stake in Nudge, a Nutricosmetics beauty supplement brand for a consideration of INR 14.2 lakhs. We initially incorporated Nudge in April 2022 with Onesto Labs Private Limited, which was responsible for business operations, whereas Nykaa held a 60% stake in this company. The company reached a peak revenue of INR 1.7 crores in FY '24, whereas FY '25 numbers came in at about INR 35 lakhs. With this acquisition taking our stake to 100%, we expect a sharper strategic focus, accelerated decision-making under health and wellness.”

Mentions over time

Recorded disclosures by calendar reporting quarter
Period	Other calls	Own calls
Q2 2026	0	1
Q1 2026	0	1
Q2 2025	0	1

Counts reflect the calls covered here. No mention in a period does not establish that a relationship ended.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

NYKAA ₹353.65 +1.23%

Guidance Verdict (12 tracked) 3 kept · 8 open· 1 missed

AI Call Brief · Q1 FY27

FSN E-Commerce Ventures Limited Q1 FY27

Overview

Symbol: NSE:NYKAA
Sector: Consumer Services
Industry: Consumer Discretionary
Exchange: NSE
Currency: INR

What FSN E-Commerce Ventures Limited does

Based on the company's own presentations, annual report and earnings calls.

FSN E-Commerce Ventures (Nykaa) runs an omnichannel beauty and lifestyle platform that curates and sells third-party and owned brands online and through physical stores, earning largely on retail/marketplace margins across products it lists. It also operates Nykaa Fashion, a curated multi-brand fashion marketplace, and Superstore by Nykaa, a B2B (eB2B) platform that supplies unorganised beauty retailers, and builds its own House of Nykaa portfolio of beauty and fashion brands sold through its network.

Segments

Beauty (Nykaa)
Fashion (Nykaa Fashion)
eB2B (Superstore by Nykaa)

Physical beauty stores: 237 across 79 cities
Warehouses: 44 across 15 cities
Beauty and personal care brands listed: 4,200+
Fashion brands listed: 4,400+
House of Nykaa owned brands: 7 beauty and 5 fashion brands
eB2B retailer base served (unorganised BPC market): 2.76 lakh retailers

Founded 2012Headquarters Mumbai, Maharashtra, India Company website

How the price took the results

Moved an average of ±1.0% across the last 4 priced result releases

Close before → close after

Quarter	Release	Revenue (₹ Cr)	Net profit (₹ Cr)	Rev YoY	Before → After	Reaction
Q1 FY27	4 Aug 26	2,782	80	+29.1%	₹344.9 → ₹342.5	−0.7%
Q4 FY26	21 May 26	2,648	79	+28.4%	₹273.3 → ₹274.5	+0.4%
Q3 FY26	5 Feb 26	2,873	68	+26.7%	₹251.03 → ₹258.29	+2.9%
Q2 FY26	7 Nov 25	2,346	33	+25.1%	₹246.14 → ₹245.87	−0.1%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

Guidance

What management said, and what became of it

3 of 4 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

Target	Original wording	Said	Latest call	Verdict
Operations Fashion Segment EBITDA	Breakeven of fashion by FY '26 Call transcript, Q4 FY25 · 30 May 2025	Q4 FY25	Q1 FY27:Maintained profitability with 0.1% EBITDA margin in Q1 FY27, confirming the turnaround. Call transcript, Q1 FY27 · 4 Aug 2026	Achieved
Operations Dot & Key EBITDA Margin	Aiming for 20% (like FMCG brands) Call transcript, Q1 FY26 · 12 Aug 2025	Q1 FY26	Q1 FY27:No specific update on Dot & Key's EBITDA margin provided for the second consecutive quarter. Call transcript, Q1 FY27 · 4 Aug 2026	Ghosted
Operations Superstore eB2B EBITDA Margin	Invest for a few more years before it gets to profitability Call transcript, Q4 FY25 · 30 May 2025	Q4 FY25	Q1 FY27:Superstore (eB2B) EBITDA margin improved by over 300 bps YoY. Call transcript, Q1 FY27 · 4 Aug 2026	On Track

Source: Inve Guidance Tracker for FSN E-Commerce Ventures Limited · to Q1 FY27

The full ledger

Open FSN E-Commerce Ventures Limited’s full ledger

A free account opens 5 company ledgers a month. All 12 tracked commitments, with each call’s wording and source.

Browse the register

Latest analysed call: Q1 FY27, 4 Aug 2026. 6 calls analysed.

Call summaries

Q1 FY27 — 4 Aug 2026

FSN E-Commerce Ventures Limited Q1 FY27

FSN E-Commerce Ventures Limited delivered a strong Q1 FY27, marked by robust growth across both Beauty and Fashion verticals and significant profitability expansion. GMV grew 34% year-on-year to INR 5,590 crores, with Net Revenue up 29% to INR 2,782 crores. EBITDA saw a 68% increase to INR 236 crores, and PAT soared 226% to INR 80 crores, reflecting improved margins and efficient capital allocation. The company continues to expand its customer base, brand partnerships, and physical store footprint while leveraging technology for enhanced customer experience and operational efficiency.

Read the full call

Q4 FY26 — 21 May 2026

FSN E-Commerce Q4 FY26

FSN E-Commerce reported a strong Q4 and full year FY26, with significant growth across all key financial metrics. Net Revenue for Q4 grew 28% YoY to INR 2,648 crores, and full year revenue surpassed INR 10,000 crores. Profitability saw substantial improvement, with Q4 EBITDA up 67% YoY to INR 223 crores and PAT up 313% YoY to INR 79 crores. The Fashion segment achieved positive EBITDA in Q4, marking a significant turnaround, while the Beauty and House of Nykaa segments continued their robust growth trajectory, despite management expressing caution regarding global macroeconomic headwinds for t

Read the full call

Q3 FY26 — 5 Feb 2026

FSN E-Commerce Q3 FY26

FSN E-Commerce delivered a strong Q3 FY26, reporting 28% YoY GMV growth to INR 5,795 crores and a record 8.0% EBITDA margin, up 180 bps YoY. The Beauty segment continued its robust performance with 27% GMV growth and 10.1% EBITDA margin, while the Fashion segment significantly improved its EBITDA margin from -5.4% to -2.0%. Key strategic partnerships with Nike, L'Oreal, and H&M, alongside strong growth in owned brands like Dot & Key and Kay Beauty, underpinned the quarter's success.

Read the full call

Summaries of each call, in Inve’s own words; the transcript is not reproduced. Not investment advice.

Every analysed call

FSN E-Commerce Ventures Limited earnings calls (NYKAA)

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).

Trailing twelve months
20.23% TTM to Jun 2026
Fiscal year
17.23% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
12.56% 6.81% 5.52% 6.89% 9.56% 17.23%

How it is calculated. Adjusted EBIT ÷ average capital employed, including minority equity and deposits.
Trailing twelve months
19.53% TTM to Jun 2026
Fiscal year
15.32% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
15.27% 4.48% 1.40% 2.50% 5.15% 15.32%

How it is calculated. Adjusted profit attributable to owners ÷ average owners’ equity.
Trailing twelve months
6.31% TTM to Jun 2026
Fiscal year
4.98% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5.11% 2.08% 0.75% 1.26% 1.95% 4.98%

How it is calculated. Total profit excluding exceptional items after tax ÷ average total assets.
Trailing twelve months
7.96% TTM to Jun 2026
Fiscal year
7.51% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6.47% 4.35% 5.00% 5.43% 5.97% 7.51%

How it is calculated. Operating profit ÷ revenue.
Trailing twelve months
2.54% TTM to Jun 2026
Fiscal year
2.14% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.54% 1.09% 0.41% 0.63% 0.91% 2.14%

How it is calculated. Total profit excluding exceptional items after tax ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3.73% -11.87% -6.77% -1.74% 4.28% 4.91%

How it is calculated. (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
214.52% — — 0.00% — 315.69%

How it is calculated. Operating cash flow ÷ reported total net profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.72% 2.49% 4.04% 1.74% 1.60% 1.54%

How it is calculated. Fixed-asset purchases ÷ revenue.
Trailing twelve months
27.40% TTM to Jun 2026
Fiscal year
26.06% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
38.07% 54.61% 36.30% 24.14% 24.49% 26.06%

How it is calculated. Revenue change against the same period one year earlier.
Trailing twelve months
238.50% TTM to Jun 2026
Fiscal year
217.88% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— -33.87% -53.66% 73.68% 100.00% 217.88%

How it is calculated. Adjusted profit attributable to owners vs the same period one year earlier.
Trailing twelve months
63.39% TTM to Jun 2026
Fiscal year
58.53% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
90.36% 3.80% 56.71% 35.02% 36.89% 58.53%

How it is calculated. Operating profit vs the same period one year earlier.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.68× 0.44× 0.58× 0.77× 1.02× 0.86×

How it is calculated. Borrowings ÷ owners’ equity.
Trailing twelve months
4.84× TTM to Jun 2026
Fiscal year
3.94× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3.06× 2.00× 1.50× 1.82× 2.18× 3.94×

How it is calculated. Adjusted EBIT ÷ interest expense.
Trailing twelve months
2.48× TTM to Jun 2026
Fiscal year
2.33× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.01× 1.91× 1.84× 2.01× 2.15× 2.33×

How it is calculated. Revenue ÷ average total assets.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
₹85.00 Cr ₹326.00 Cr ₹649.00 Cr ₹729.00 Cr ₹1,104.00 Cr ₹918.00 Cr

How it is calculated. Borrowings less cash equivalents.
Trailing twelve months
1.04× TTM to Jun 2026
Fiscal year
1.17× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.50× 1.72× 2.26× 1.93× 2.20× 1.17×

How it is calculated. (Borrowings − cash equivalents) ÷ adjusted EBITDA.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.48× 1.47× 2.03× 2.51× 2.84× 2.99×

How it is calculated. Average total assets ÷ closing owners’ equity.
Trailing twelve months
377.40× TTM to Jun 2026
Fiscal year
481.02× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Current market cap ÷ adjusted profit attributable to owners for the selected income period. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market cap ÷ owners’ equity from the balance sheet selected for the TTM inputs. Uses current market cap, not the share price at the period end.
Trailing twelve months
115.80× TTM to Jun 2026
Fiscal year
129.66× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. (Market cap + borrowings + deposits − cash equivalents) ÷ adjusted EBITDA. Uses current market cap, not the share price at the period end.
Trailing twelve months
0.54% TTM to Jun 2026
Fiscal year
0.46% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Adjusted EBIT ÷ enterprise value. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
11.00 days 9.00 days 12.00 days 14.00 days 11.00 days 11.00 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
122.00 days 150.00 days 128.00 days 119.00 days 116.00 days 109.00 days

How it is calculated. Reported inventory days, using material cost / cost of goods sold.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
77.00 days 62.00 days 34.00 days 39.00 days 52.00 days 49.00 days

How it is calculated. Reported payable days, using material cost / cost of goods sold.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
56.00 days 97.00 days 106.00 days 94.00 days 75.00 days 71.00 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3.00 days 67.00 days 40.00 days 10.00 days 14.00 days 4.00 days

How it is calculated. Reported net working capital days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
12.56%	6.81%	5.52%	6.89%	9.56%	17.23%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
15.27%	4.48%	1.40%	2.50%	5.15%	15.32%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
5.11%	2.08%	0.75%	1.26%	1.95%	4.98%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
6.47%	4.35%	5.00%	5.43%	5.97%	7.51%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.54%	1.09%	0.41%	0.63%	0.91%	2.14%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
3.73%	-11.87%	-6.77%	-1.74%	4.28%	4.91%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
214.52%	—	—	0.00%	—	315.69%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.72%	2.49%	4.04%	1.74%	1.60%	1.54%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
38.07%	54.61%	36.30%	24.14%	24.49%	26.06%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	-33.87%	-53.66%	73.68%	100.00%	217.88%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
90.36%	3.80%	56.71%	35.02%	36.89%	58.53%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.68×	0.44×	0.58×	0.77×	1.02×	0.86×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
3.06×	2.00×	1.50×	1.82×	2.18×	3.94×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.01×	1.91×	1.84×	2.01×	2.15×	2.33×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
₹85.00 Cr	₹326.00 Cr	₹649.00 Cr	₹729.00 Cr	₹1,104.00 Cr	₹918.00 Cr

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.50×	1.72×	2.26×	1.93×	2.20×	1.17×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.48×	1.47×	2.03×	2.51×	2.84×	2.99×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
11.00 days	9.00 days	12.00 days	14.00 days	11.00 days	11.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
122.00 days	150.00 days	128.00 days	119.00 days	116.00 days	109.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
77.00 days	62.00 days	34.00 days	39.00 days	52.00 days	49.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
56.00 days	97.00 days	106.00 days	94.00 days	75.00 days	71.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
3.00 days	67.00 days	40.00 days	10.00 days	14.00 days	4.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +233% (quarter to jun 2026 against jun 2025).

Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
1,875	2,267	2,062	2,155	2,346	2,873	2,648	2,782
1,771	2,126	1,928	2,014	2,187	2,644	2,425	2,546
104	141	133	141	159	230	223	236
6.0%	6.0%	6.0%	7.0%	7.0%	8.0%	8.0%	8.0%
5	6	9	9	7	-10	9	9
24	32	30	30	31	29	26	27
64	70	73	76	79	81	84	89
21	45	40	44	55	110	122	129
37.0%	39.0%	52.0%	44.0%	40.0%	38.0%	35.0%	38.0%
13	26	19	24	33	68	79	80
0.04	0.09	0.07	0.08	0.12	0.22	0.27	0.28

Source: Inve data · income statement, quarterly · to Jun 2026

Sales 3Y CAGR +24.9%

Operating profit 3Y CAGR +43.3%

Net profit 3Y CAGR +116.9%

Mar 2023	Mar 2024	Mar 2025	Mar 2026
5,144	6,386	7,950	10,022
4,888	6,039	7,475	9,270
256	346	474	753
30	31	27	15
74	83	107	116
173	225	267	320
39	69	128	331
20	39	72	204

Source: Inve data · income statement, annual · to Mar 2026

Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026
47	285	286	286	286	286
1,292	1,093	977	1,015	1,102	1,152
593	798	969	1,321	1,407	1,238
714	773	1,169	1,358	1,538	1,936
2,646	2,950	3,401	3,980	4,332	4,611
483	699	668	835	920	1,008
24	31	30	37	5	9
0	38	34	0	0	0
2,138	2,182	2,668	3,108	3,408	3,594
2,646	2,950	3,401	3,980	4,332	4,611

Source: Inve data · balance sheet · to Mar 2026

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
133	-354	-140	0	467	644
-130	-603	140	-10	-205	-159
-38	927	5	44	-212	-433
-34	-30	4	34	49	52
91	-448	-348	-110	339	493

Source: Inve data · cash flow · to Mar 2026

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
11	9	12	14	11	11
122	150	128	119	116	109
77	62	34	39	52	49
56	97	106	94	75	71
3	67	40	10	14	4
13.0%	7.0%	6.0%	7.0%	10.0%	17.0%
0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2026

Where revenue comes from

The businesses behind the company’s reported revenue.

Reporting basis Reporting period

Beauty contributes 90.5% of reported segment revenue.

Quarter ended 30 Jun 2026 · Consolidated

Beauty 90.5%

₹2,516.33 crore
Fashion 9.1%

₹252.63 crore
Others 0.5%

₹13.04 crore

Reported business segments for quarter ended 30 Jun 2026
Business segment	Revenue · ₹ crore	Share
Beauty	2,516.33	90.5%
Fashion	252.63	9.1%
Others	13.04	0.5%

Share = segment revenue ÷ total segment revenue, before intersegment adjustments.

How these numbers add up

Total segment revenue: ₹2,782.00 crore
Intersegment adjustment: Not reported
Net segment revenue: ₹2,782.00 crore

Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.

Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.

How the mix has moved

Each segment’s share of reported revenue, quarter by quarter.

NYKAA revenue by business segment, share of consolidated revenue by quarter
Segment	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026	YoY growth latest quarter
Beauty	91%	91%	91%	92%	92%	91%	91%	90%	+27.4%
Fashion	9%	9%	9%	8%	8%	8%	9%	9%	+47.9%
Others	<1%	<1%	<1%	<1%	<1%	1%	<1%	<1%	+49.2%

Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.

See how segments are shifting across companies → Segment Shift

Ownership

Who owns it

Promoters hold 52.07% as of Sept 2026; institutions added 0.19 pts since Jun 2026.

Promoters 0.00 pts 52.07%
Foreign institutions +1.92 pts 15.65%
Domestic institutions −1.73 pts 22.35%
Public −0.20 pts 9.92%

3,91,657 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who bought this quarter

since Jun 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Mutual fund newly disclosed 1.17% held

The same filing shows 8 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Sep 2026 filing

Every holder of FSN E-Commerce Ventures Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	21.02%	unchanged
	21.02%	unchanged
Mutual fund	4.22%	unchanged
	3.44%	unchanged
	3.44%	unchanged
	2.86%	unchanged
Insurer	2.36%	−0.35 pp
Mutual fund	1.87%	−0.42 pp
Mutual fund	1.70%	−0.17 pp
Mutual fund	1.58%	−1.06 pp
	1.55%	unchanged
	1.55%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in NYKAA

Filings to Sep 2026

1 new, 2 added, 11 trimmed, 0 sold out — net −19.68 L shares (−0.9%).

Held by funds: ₹7.1k Cr; 37 schemes
Biggest holder: HDFC Flexi Cap Fund; ₹778 Cr · 0.7% of that fund

Scheme	Holding	Last month	Held since
HDFC Flexi Cap Fund HDFC Mutual Fund	₹778 Cr	held	Dec '24
SBI Contra Fund SBI Mutual Fund	₹710 Cr	held	Jun '23
Nippon India Multi Cap Fund Nippon India Mutual Fund	₹640 Cr	held	Dec '24
HDFC Focused Fund HDFC Mutual Fund	₹592 Cr	held	Jan '25
SBI Large and Midcap Fund SBI Mutual Fund	₹576 Cr	held	Jan '23
SBI Midcap Fund SBI Mutual Fund	₹576 Cr	held	Jul '23
SBI ELSS Tax Saver Fund SBI Mutual Fund	₹576 Cr	held	Feb '24
Nippon India Growth Mid Cap Fund Nippon India Mutual Fund	₹538 Cr	held	Aug '24

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Sep 2026

2 added, 11 trimmed — net −19.68 L shares (−0.9%)

Funds are sitting on: +76%; vs est. average cost
Held by funds: ₹7.1k Cr; 37 schemes · ≈ 7.8% of the company
Biggest holder: HDFC Flexi Cap Fund; ₹778 Cr · 0.7% of that fund
Longest holder: SBI Retirement Benefit Fund - Aggressive Plan; 5y · since Oct '21

Shares held by these funds +198%

Oct '23 22.24 cr shares Sep '26

Your own record

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Quick Answers

Frequently asked questions on FSN E-Commerce Ventures Limited

Compiled directly from NYKAA's filed financial statements, earnings call transcripts, and ownership disclosures.

How did FSN E-Commerce Ventures Limited (NYKAA) perform in its latest reported quarter (Jun 2026)?

For the quarter ended Jun 2026, FSN E-Commerce Ventures Limited reported revenue of ₹2.8k Cr, net profit of ₹80 Cr, an operating margin of 8.0%. Diluted earnings per share stood at ₹0.28.

How is FSN E-Commerce Ventures Limited (NYKAA) valued today, and what growth does the stock price imply?

FSN E-Commerce Ventures Limited (NYKAA) trades at ₹353.65, with a market capitalization of ₹100.9k Cr.

Who owns FSN E-Commerce Ventures Limited (NYKAA) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 52.1%, FIIs hold 15.7%, DIIs hold 22.4%, Public shareholders hold 9.9%.

Learn to analyse FSN E-Commerce Ventures Limited

Guides on how to read this kind of business and the numbers that matter.