FSN E-Commerce Ventures Limited

NSEI:NYKAA Stock Report

Market Cap: ₹888.3b

FSN E-Commerce Ventures Future Growth

Future criteria checks 5/6

FSN E-Commerce Ventures is forecast to grow earnings and revenue by 48.2% and 17.6% per annum respectively. EPS is expected to grow by 48.1% per annum. Return on equity is forecast to be 34.9% in 3 years.

Key information

48.2%

Earnings growth rate

48.12%

EPS growth rate

Specialty Retail earnings growth28.1%
Revenue growth rate17.6%
Future return on equity34.92%
Analyst coverage

Good

Last updated06 Jul 2026

Recent future growth updates

Analysis Article • Nov 10

Analyst Estimates: Here's What Brokers Think Of FSN E-Commerce Ventures Limited (NSE:NYKAA) After Its Second-Quarter Report

As you might know, FSN E-Commerce Ventures Limited ( NSE:NYKAA ) recently reported its quarterly numbers. Results were...
Analysis Article • Aug 15

FSN E-Commerce Ventures Limited Just Missed Earnings - But Analysts Have Updated Their Models

NSEI:NYKAA 1 Year Share Price vs Fair Value Explore FSN E-Commerce Ventures's Fair Values from the Community and select...

Recent updates

Narrative Update • Jun 26

NYKAA: Planned 82E Stake And Board Moves Will Struggle To Justify Valuation

Analysts have lifted their 12 month price target for FSN E-Commerce Ventures from about ₹162 to around ₹213, citing updated assumptions that include a slightly lower discount rate, a modest tweak to revenue growth expectations, a higher projected profit margin and a somewhat lower future P/E multiple. What’s in the News for FSN E-Commerce Ventures FSN E-Commerce Ventures has scheduled a board meeting on May 15, 2026, to consider reappointing Adwaita Nayar and Anchit Nayar as whole time executive directors for 5 year terms and to consider reappointing Anita Ramachandran as a non executive independent director for a second 5 year term.
Analysis Article • May 29

FSN E-Commerce Ventures' (NSE:NYKAA) Performance Is Even Better Than Its Earnings Suggest

The subdued stock price reaction suggests that FSN E-Commerce Ventures Limited's ( NSE:NYKAA ) strong earnings didn't...
Analysis Article • May 19

Here's Why FSN E-Commerce Ventures (NSE:NYKAA) Has Caught The Eye Of Investors

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
New Narrative • Jan 23

Physical Store Expansion And Owned Brands Will Support A Balanced Long Term Outlook

Catalysts About FSN E-Commerce Ventures FSN E-Commerce Ventures operates Nykaa, an online and offline platform for beauty, personal care, fashion and owned brands across India. What are the underlying business or industry changes driving this perspective?
Analysis Article • Jan 13

Here's Why We Think FSN E-Commerce Ventures (NSE:NYKAA) Might Deserve Your Attention Today

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Dec 23

FSN E-Commerce Ventures Limited's (NSE:NYKAA) Share Price Matching Investor Opinion

When close to half the companies in the Specialty Retail industry in India have price-to-sales ratios (or "P/S") below...
Analysis Article • Dec 02

Does FSN E-Commerce Ventures (NSE:NYKAA) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Nov 10

Analyst Estimates: Here's What Brokers Think Of FSN E-Commerce Ventures Limited (NSE:NYKAA) After Its Second-Quarter Report

As you might know, FSN E-Commerce Ventures Limited ( NSE:NYKAA ) recently reported its quarterly numbers. Results were...
Analysis Article • Sep 30

FSN E-Commerce Ventures (NSE:NYKAA) Is Looking To Continue Growing Its Returns On Capital

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Analysis Article • Sep 09

FSN E-Commerce Ventures Limited's (NSE:NYKAA) P/S Still Appears To Be Reasonable

FSN E-Commerce Ventures Limited's ( NSE:NYKAA ) price-to-sales (or "P/S") ratio of 8.5x may look like a poor investment...
Analysis Article • Aug 15

FSN E-Commerce Ventures Limited Just Missed Earnings - But Analysts Have Updated Their Models

NSEI:NYKAA 1 Year Share Price vs Fair Value Explore FSN E-Commerce Ventures's Fair Values from the Community and select...
Analysis Article • Jul 19

We Think FSN E-Commerce Ventures (NSE:NYKAA) Can Stay On Top Of Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...

Earnings and Revenue Growth Forecasts

NSEI:NYKAA - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/2029194,62611,54012,15313,06017
3/31/2028158,2007,6507,9609,32224
3/31/2027126,6024,5854,4735,40624
3/31/2026100,2241,9944,9046,443N/A
12/31/202594,3591,414N/AN/AN/A
9/30/202588,2991,0423,5765,149N/A
6/30/202583,587798N/AN/AN/A
3/31/202579,4986613,3944,666N/A
12/31/202475,560527N/AN/AN/A
9/30/202470,7764286461,706N/A
6/30/202467,099386N/AN/AN/A
3/31/202463,856323-1,1053N/A
12/31/202360,194277N/AN/AN/A
9/30/202356,934198-3581,041N/A
6/30/202354,172180N/AN/AN/A
3/31/202351,438193-3,484-1,402N/A
12/31/202248,154254N/AN/AN/A
9/30/202244,509451-6,638-4,861N/A
6/30/202241,054422N/AN/AN/A
3/31/202237,739411-4,479-3,540N/A
12/31/202135,411497N/AN/AN/A
9/30/202132,507907-1,195-565N/A
6/30/202128,117771N/AN/AN/A
3/31/202124,4096169111,332N/A
3/31/202017,675-166-39662N/A
3/31/201911,114-245N/A-997N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NYKAA's forecast earnings growth (48.2% per year) is above the savings rate (6.9%).

Earnings vs Market: NYKAA's earnings (48.2% per year) are forecast to grow faster than the Indian market (16.3% per year).

High Growth Earnings: NYKAA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NYKAA's revenue (17.6% per year) is forecast to grow faster than the Indian market (11% per year).

High Growth Revenue: NYKAA's revenue (17.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NYKAA's Return on Equity is forecast to be high in 3 years time (34.9%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 13:11
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

FSN E-Commerce Ventures Limited is covered by 37 analysts. 24 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Videesha ShethAmbit Capital
Ashwin MehtaAmbit Capital
Nitin BhasinAmbit Capital