Reported Earnings • May 22
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: ₹0.70 (up from ₹0.23 in FY 2025). Revenue: ₹100.6b (up 27% from FY 2025). Net income: ₹1.99b (up 202% from FY 2025). Profit margin: 2.0% (up from 0.8% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • May 13
FSN E-Commerce Ventures Limited to Report Q4, 2026 Results on May 21, 2026 FSN E-Commerce Ventures Limited announced that they will report Q4, 2026 results on May 21, 2026 Announcement • Apr 09
FSN E-Commerce Ventures Confirms Talks to Acquire Stake in 82°E FSN E-Commerce Ventures Limited (NSEI:NYKAA), which owns beauty and fashion retailer Nykaa, confirmed that it is in talks with Deepika Padukone's skincare brand 82°E (DPKA Universal Consumer Ventures Private Limited) to acquire stake in the latter, in a stock exchange filing late April 6, 2026. "The company evaluates various strategic opportunities for growth and expansion on an ongoing basis. it remains in discussions with concerned parties, including the one referred above," Nykaa said in the filing. "The company will make appropriate disclosures/announcements in compliance with applicable laws, as and when due," it added. ET had reported the development in its April 6 edition. Price Target Changed • Mar 06
Price target increased by 7.5% to ₹271 Up from ₹252, the current price target is an average from 25 analysts. New target price is 6.3% above last closing price of ₹255. Stock is up 55% over the past year. The company is forecast to post earnings per share of ₹0.76 for next year compared to ₹0.23 last year. Announcement • Feb 10
FSN E-Commerce Ventures Limited (NSEI:NYKAA) completed the acquisition of remaining 40% stake in Nudge Wellness Private Limited from Onesto Labs Private Limited. FSN E-Commerce Ventures Limited (NSEI:NYKAA) agreed to acquire remaining 40% stake in Nudge Wellness Private Limited from Onesto Labs Private Limited for INR 1.4 million on August 12, 2025. A cash consideration of INR 1.43 million will be paid by FSN E-Commerce Ventures Limited. As part of consideration, INR 1.43 million is paid towards common equity of Nudge Wellness Private Limited. Upon completion, FSN E-Commerce Ventures Limited will own 100% stake in Nudge Wellness Private Limited.
For the period ending March 31, 2025, Nudge Wellness Private Limited reported total revenue of INR 3.48 million.
The transaction is subject to approval of offer by FSN E-Commerce Ventures Limited board. The transaction is subject to execution of definitive transaction documents and any other applicable procedural and regulatory steps. The deal has been approved by FSN E-Commerce Ventures Limited board.
The expected completion of the transaction is September 30, 2025.
FSN E-Commerce Ventures Limited (NSEI:NYKAA) completed the acquisition of remaining 40% stake in Nudge Wellness Private Limited from Onesto Labs Private Limited on February 9, 2026. Reported Earnings • Feb 06
Third quarter 2026 earnings: EPS misses analyst expectations Third quarter 2026 results: EPS: ₹0.22 (up from ₹0.09 in 3Q 2025). Revenue: ₹28.7b (up 27% from 3Q 2025). Net income: ₹633.1m (up 142% from 3Q 2025). Profit margin: 2.2% (up from 1.2% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.7%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jan 26
Nykaa Appoints Chetan Sharma as Group Company Secretary, and Compliance Officer Nykaa has strengthened its boardroom bench with the appointment of Chetan Sharma as Vice President, Group Company Secretary, and Compliance Officer, based in Mumbai. In his new role, Sharma will work closely with FSN E-Commerce Ventures Ltd.'s boards, promoters and senior leadership, acting as a trusted hand on the tiller for enterprise governance, board effectiveness and regulatory compliance. From complex corporate actions to steady compliance stewardship, his mandate spans the full lifecycle of governance in a fast growing, listed digital business. Sharma brings with him more than a decade and a half of experience across pharmaceuticals, manufacturing and financial services. Most recently, he spent over six years at Emcure Pharmaceuticals, where he served as group company secretary and compliance officer, leading high-stakes assignments across mergers and acquisitions, valuations, listings and group-wide restructuring. His career also includes senior roles at Cadila Pharmaceuticals, Varroc, Zuventus Healthcare, ECS Corporation and Neesa Group, giving him deep exposure to corporate law, capital markets, IPOs and regulatory liaison. Early in his career, he worked closely on multiple public offerings and takeover assignments, building a strong foundation in transaction-led governance. Alongside his corporate responsibilities, Sharma serves as director of the corporate advisory board at Lovely Professional University, where he contributes to academic and industry engagement. Announcement • Jan 20
FSN E-Commerce Ventures Limited to Report Q3, 2026 Results on Feb 05, 2026 FSN E-Commerce Ventures Limited announced that they will report Q3, 2026 results on Feb 05, 2026 Price Target Changed • Nov 12
Price target increased by 7.0% to ₹234 Up from ₹219, the current price target is an average from 25 analysts. New target price is 8.7% below last closing price of ₹257. Stock is up 49% over the past year. The company is forecast to post earnings per share of ₹0.72 for next year compared to ₹0.23 last year. Reported Earnings • Nov 08
Second quarter 2026 earnings: Revenues and EPS in line with analyst expectations Second quarter 2026 results: EPS: ₹0.12 (up from ₹0.04 in 2Q 2025). Revenue: ₹23.5b (up 25% from 2Q 2025). Net income: ₹344.3m (up 243% from 2Q 2025). Profit margin: 1.5% (up from 0.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
FSN E-Commerce Ventures Limited to Report Q2, 2026 Results on Nov 07, 2025 FSN E-Commerce Ventures Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Major Estimate Revision • Aug 19
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from ₹0.897 to ₹0.785 per share. Revenue forecast steady at ₹100.0b. Net income forecast to grow 256% next year vs 36% growth forecast for Specialty Retail industry in India. Consensus price target up from ₹206 to ₹210. Share price rose 11% to ₹227 over the past week. Announcement • Aug 13
FSN E-Commerce Ventures Limited (NSEI:NYKAA) agreed to acquire remaining 40% stake in Nudge Wellness Private Limited from Onesto Labs Private Limited for INR 1.4 million. FSN E-Commerce Ventures Limited (NSEI:NYKAA) agreed to acquire remaining 40% stake in Nudge Wellness Private Limited from Onesto Labs Private Limited for INR 1.4 million on August 12, 2025. A cash consideration of INR 1.43 million will be paid by FSN E-Commerce Ventures Limited. As part of consideration, INR 1.43 million is paid towards common equity of Nudge Wellness Private Limited. Upon completion, FSN E-Commerce Ventures Limited will own 100% stake in Nudge Wellness Private Limited.
For the period ending March 31, 2025, Nudge Wellness Private Limited reported total revenue of INR 3.48 million.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. The expected completion of the transaction is September 30, 2025. Reported Earnings • Aug 03
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹0.23 (up from ₹0.11 in FY 2024). Revenue: ₹79.5b (up 25% from FY 2024). Net income: ₹660.8m (up 105% from FY 2024). Profit margin: 0.8% (up from 0.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 02
FSN E-Commerce Ventures Limited to Report Q1, 2026 Results on Aug 12, 2025 FSN E-Commerce Ventures Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Announcement • Jul 30
FSN E-Commerce Ventures Limited, Annual General Meeting, Aug 25, 2025 FSN E-Commerce Ventures Limited, Annual General Meeting, Aug 25, 2025, at 10:30 Indian Standard Time. Announcement • Jul 03
Early Nykaa Investor Reportedly to Offload $150 Million Stake Via Block Deal Harindarpal Singh Banga, founder of Hong Kong-based diversified conglomerate The Caravel Group Limited, and one of FSN E-Commerce Ventures Limited (Nykaa)'s early investors, is set to sell a 2%-2.5% stake in the beauty and fashion retailer in a $150 million (around INR 12,000 million to INR 13,000 million) block deal, people briefed on the matter told ET. Banga, who has been gradually reducing his holding, currently owns nearly 5% of Nykaa. The shares are being offered at a 4% discount to July 2, 2025 closing price of INR 211.80 on the BSE, one of the sources said, adding that the buyers are foreign institutional investors (FIIs). Reported Earnings • May 31
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹0.23 (up from ₹0.11 in FY 2024). Revenue: ₹79.8b (up 25% from FY 2024). Net income: ₹660.8m (up 105% from FY 2024). Profit margin: 0.8% (up from 0.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • May 19
FSN E-Commerce Ventures Limited to Report Q4, 2025 Results on May 30, 2025 FSN E-Commerce Ventures Limited announced that they will report Q4, 2025 results on May 30, 2025 Major Estimate Revision • Apr 15
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₹80.7b to ₹79.8b. EPS estimate also fell from ₹0.347 per share to ₹0.307 per share. Net income forecast to grow 320% next year vs 38% growth forecast for Specialty Retail industry in India. Consensus price target broadly unchanged at ₹192. Share price rose 5.0% to ₹180 over the past week. Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹0.459 to ₹0.346 per share. Revenue forecast steady at ₹80.0b. Net income forecast to grow 339% next year vs 37% growth forecast for Specialty Retail industry in India. Consensus price target broadly unchanged at ₹190. Share price rose 2.4% to ₹173 over the past week. Reported Earnings • Feb 11
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: ₹0.09 (up from ₹0.06 in 3Q 2024). Revenue: ₹22.7b (up 27% from 3Q 2024). Net income: ₹261.2m (up 61% from 3Q 2024). Profit margin: 1.2% (up from 0.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 63%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Jan 30
FSN E-Commerce Ventures Limited to Report Q3, 2025 Results on Feb 10, 2025 FSN E-Commerce Ventures Limited announced that they will report Q3, 2025 results on Feb 10, 2025 Major Estimate Revision • Nov 19
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹0.617 to ₹0.493 per share. Revenue forecast steady at ₹79.8b. Net income forecast to grow 432% next year vs 38% growth forecast for Specialty Retail industry in India. Consensus price target down from ₹203 to ₹196. Share price fell 4.2% to ₹170 over the past week. New Risk • Nov 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Announcement • Nov 13
Abhijeet Dabas Joins Nykaa as EVP and Business Head- Fashion Ecommerce Nykaa announces the appointment of Abhijeet Dabas as executive vice president and business head- fashion eCommerce. An alumnus of the Indian Institute of Management Calcutta, Abhijeet brings a wealth of experience which includes strategic roles at McKinsey and Company, followed by leadership positions at technology and e-commerce companies including Cars24, Swiggy, Myntra and Lazada. In his new role, Abhijeet will shape Nykaa Fashion’s online growth strategy, expand its global footprint, build strategic partnerships—including current alliances with leading fashion retailers like Foot Locker and REVOLVE—to strengthen Nykaa’s position in the fashion e-commerce space. Reported Earnings • Nov 13
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: ₹0.04 (up from ₹0.02 in 2Q 2024). Revenue: ₹18.8b (up 25% from 2Q 2024). Net income: ₹100.4m (up 72% from 2Q 2024). Profit margin: 0.5% (up from 0.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 60%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Specialty Retail industry in India. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Nov 04
FSN E-Commerce Ventures Limited to Report Q2, 2025 Results on Nov 12, 2024 FSN E-Commerce Ventures Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Announcement • Aug 21
FSN E-Commerce Ventures Limited, Annual General Meeting, Sep 18, 2024 FSN E-Commerce Ventures Limited, Annual General Meeting, Sep 18, 2024, at 15:30 Indian Standard Time. Major Estimate Revision • Aug 20
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ₹0.705 to ₹0.631 per share. Revenue forecast steady at ₹81.0b. Net income forecast to grow 487% next year vs 34% growth forecast for Specialty Retail industry in India. Consensus price target up from ₹193 to ₹197. Share price rose 2.9% to ₹193 over the past week. New Risk • Aug 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: ₹0.03 (up from ₹0.02 in 1Q 2024). Revenue: ₹17.5b (up 23% from 1Q 2024). Net income: ₹96.4m (up 192% from 1Q 2024). Profit margin: 0.5% (up from 0.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 64%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Specialty Retail industry in India. Announcement • Aug 06
FSN E-Commerce Ventures Limited to Report Q1, 2025 Results on Aug 13, 2024 FSN E-Commerce Ventures Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Milind Sarwate was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 29
Nykaa Appoints Santosh Desai as Independent Director FSN E-commerce Ventures, which operates omnichannel beauty and fashion retailer Nykaa, has appointed Santosh Desai as an independent director on its board, starting in July, for a period of three years, the company said on Monday.Desai previously served as the CEO of business consulting company Future Brands for nearly 17 years, and also as president of advertising firm McCann. He has played a key role in building significant brands for various local and multinational organisations.Desai currently serves on the boards of Think9 Consumer Technologies, Dainik Jagran Group, and Breakthrough. An IIM Ahmedabad graduate, he is also a member of the governing councils of Mudra Institute of Communication, Ahmedabad, and Praxis Business School, Kolkata. Reported Earnings • May 23
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹0.11 (up from ₹0.068 in FY 2023). Revenue: ₹63.9b (up 24% from FY 2023). Net income: ₹322.7m (up 68% from FY 2023). Profit margin: 0.5% (up from 0.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 31%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Specialty Retail industry in India. Announcement • May 12
FSN E-Commerce Ventures Limited to Report Q4, 2024 Results on May 22, 2024 FSN E-Commerce Ventures Limited announced that they will report Q4, 2024 results on May 22, 2024 Major Estimate Revision • Feb 13
Consensus EPS estimates fall by 34% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₹0.259 to ₹0.172 per share. Revenue forecast steady at ₹63.3b. Net income forecast to grow 512% next year vs 43% growth forecast for Specialty Retail industry in India. Consensus price target broadly unchanged at ₹180. Share price fell 7.8% to ₹148 over the past week. New Risk • Feb 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 07
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: ₹0.06 (up from ₹0.03 in 3Q 2023). Revenue: ₹18.0b (up 23% from 3Q 2023). Net income: ₹161.9m (up 98% from 3Q 2023). Profit margin: 0.9% (up from 0.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 54%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Specialty Retail industry in India. Announcement • Feb 06
FSN E-Commerce Ventures Limited Announces Management Changes FSN E-Commerce Ventures Limited at its board meeting held on February 6, 2024, approved the appointment of Mr. Neelabja Chakrabarty as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company (`KMP') with effect from February 8, 2024, in place of Mr. Sujeet Jain. Mr. Sujeet Jain will cease to be Company Secretary & Compliance Officer and KMP of the Company with effect from close of business hours on February 7, 2024, however, Mr. Sujeet Jain will continue to be the Chief Legal and Regulatory Officer of the Company. Neelabja Chakrabarty has more than 21 years of experience in Company Secretarial & Compliance Functions across various organizations such as Tata Consumer Products, TataSky, YES Bank, CRISIL and Indian Hotels. His last stint was with Tata Consumer Products Ltd. as Company Secretary and Compliance Officer. He has extensive experience of conducting and managing board and shareholder meetings of large, listed companies. He is well versed with SEBI regulation and has managed various corporate governance matters. He has also managed various corporate action such as preferential allotment, private placement of shares and debentures, QIP, rights and bonus issues, compliances for mergers and takeover, group restructuring exercises, voluntary open offer, buy back and ESOP plans. He also has experience of managing legal and finance related issues. He is a Company Secretary, Cost Accountant, and has LLB Degree. Announcement • Jan 25
FSN E-Commerce Ventures Limited to Report Q3, 2024 Results on Feb 06, 2024 FSN E-Commerce Ventures Limited announced that they will report Q3, 2024 results on Feb 06, 2024 Major Estimate Revision • Jan 12
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₹0.319 to ₹0.278 per share. Revenue forecast steady at ₹64.1b. Net income forecast to grow 748% next year vs 40% growth forecast for Specialty Retail industry in India. Consensus price target up from ₹175 to ₹180. Share price rose 8.2% to ₹188 over the past week. Reported Earnings • Nov 07
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: ₹0.02 (up from ₹0.015 in 2Q 2023). Revenue: ₹15.2b (up 23% from 2Q 2023). Net income: ₹58.5m (up 42% from 2Q 2023). Profit margin: 0.4% (up from 0.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 79%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Specialty Retail industry in India. Major Estimate Revision • Nov 07
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₹64.8b to ₹64.1b. EPS estimate also fell from ₹0.366 per share to ₹0.323 per share. Net income forecast to grow 672% next year vs 36% growth forecast for Specialty Retail industry in India. Consensus price target broadly unchanged at ₹170. Share price rose 7.1% to ₹149 over the past week. Announcement • Oct 28
FSN E-Commerce Ventures Limited to Report Q2, 2024 Results on Nov 06, 2023 FSN E-Commerce Ventures Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Recent Insider Transactions • Sep 27
Chief Executive Officer of Nykaa Man recently sold ₹19m worth of stock On the 22nd of September, Nihir Parikh sold around 130k shares on-market at roughly ₹143 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹81m. Insiders have been net sellers, collectively disposing of ₹1.8b more than they bought in the last 12 months. Recent Insider Transactions • Sep 06
Key Executive recently sold ₹20m worth of stock On the 30th of August, Manoj Jaiswal sold around 150k shares on-market at roughly ₹136 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹74m. Manoj has been a net seller over the last 12 months, reducing personal holdings by ₹124m. Announcement • Aug 25
FSN E-Commerce Ventures Limited, Annual General Meeting, Sep 18, 2023 FSN E-Commerce Ventures Limited, Annual General Meeting, Sep 18, 2023, at 10:30 Indian Standard Time. Agenda: To receive, consider and adopt the Standalone audited financial statements of the Company for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and Auditors thereon; to receive, consider and adopt the Consolidated audited financial statements of the Company for the financial year ended March 31, 2023 together with the Report of Auditors thereon; to appoint a Director in place of Mr. Milan Khakhar who retires by rotation and being eligible offers himself for re-appointment; and to appoint a Director in place of Ms. Adwaita Nayar who retires by rotation and being eligible offers herself for re-appointment. Recent Insider Transactions • Aug 21
Insider recently sold ₹13m worth of stock On the 16th of August, Pulkit Swarup sold around 95k shares on-market at roughly ₹133 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹74m. Insiders have been net sellers, collectively disposing of ₹2.0b more than they bought in the last 12 months. Reported Earnings • Aug 12
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ₹0.02. Revenue: ₹14.2b (up 24% from 1Q 2023). Net income: ₹33.0m (down 27% from 1Q 2023). Profit margin: 0.2% (down from 0.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 81%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Specialty Retail industry in India. Price Target Changed • Aug 09
Price target decreased by 7.3% to ₹178 Down from ₹192, the current price target is an average from 21 analysts. New target price is 21% above last closing price of ₹147. Stock is down 37% over the past year. The company is forecast to post earnings per share of ₹0.60 for next year compared to ₹0.07 last year. Announcement • Aug 03
FSN E-Commerce Ventures Limited to Report Q1, 2024 Results on Aug 11, 2023 FSN E-Commerce Ventures Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Announcement • Jul 07
FSN E-Commerce Ventures Limited Provides Consolidated Revenue Guidance for the First Quarter of 2024 FSN E-Commerce Ventures Limited provided consolidated revenue guidance for the first quarter of 2024. For the quarter, at a consolidated level, the company expects revenue to grow in the mid-twenties year over year. Recent Insider Transactions • Jun 30
Chief Executive Officer of Nykaa Man recently sold ₹74m worth of stock On the 27th of June, Nihir Parikh sold around 500k shares on-market at roughly ₹149 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹2.0b more than they bought in the last 12 months. Recent Insider Transactions • Jun 04
Key Executive recently sold ₹61m worth of stock On the 2nd of June, Manoj Jaiswal sold around 480k shares on-market at roughly ₹126 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Manoj has been a net seller over the last 12 months, reducing personal holdings by ₹310m. Reported Earnings • May 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹0.07 (down from ₹0.15 in FY 2022). Revenue: ₹51.7b (up 37% from FY 2022). Net income: ₹192.6m (down 53% from FY 2022). Profit margin: 0.4% (down from 1.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Specialty Retail industry in India. Announcement • May 13
FSN E-Commerce Ventures Limited to Report Q4, 2023 Results on May 24, 2023 FSN E-Commerce Ventures Limited announced that they will report Q4, 2023 results at 12:08 PM, Indian Standard Time on May 24, 2023 Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₹0.131 to ₹0.112 per share. Revenue forecast steady at ₹51.8b. Net income forecast to grow 390% next year vs 43% growth forecast for Specialty Retail industry in India. Consensus price target broadly unchanged at ₹211. Share price rose 5.6% to ₹131 over the past week. Recent Insider Transactions • Mar 28
Chief Executive Officer of Nykaa Man recently sold ₹33m worth of stock On the 24th of March, Nihir Parikh sold around 239k shares on-market at roughly ₹138 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹108m. Insiders have been net sellers, collectively disposing of ₹2.3b more than they bought in the last 12 months. Recent Insider Transactions • Mar 06
Insider recently sold ₹52m worth of stock On the 1st of March, Kingshuk Basu sold around 158k shares on-market at roughly ₹328 per share. This transaction amounted to 98% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹108m. Insiders have been net sellers, collectively disposing of ₹2.3b more than they bought in the last 12 months. Recent Insider Transactions • Feb 21
Insider recently sold ₹14m worth of stock On the 20th of February, Shuchi Pandya sold around 100k shares on-market at roughly ₹143 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹108m. Insiders have been net sellers, collectively disposing of ₹2.4b more than they bought in the last 12 months. Major Estimate Revision • Feb 20
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₹52.4b to ₹51.7b. EPS estimate also fell from ₹0.264 per share to ₹0.154 per share. Net income forecast to grow 437% next year vs 31% growth forecast for Online Retail industry in India. Consensus price target down from ₹250 to ₹218. Share price fell 9.9% to ₹139 over the past week. Price Target Changed • Feb 14
Price target decreased by 12% to ₹224 Down from ₹254, the current price target is an average from 17 analysts. New target price is 56% above last closing price of ₹143. Stock is down 43% over the past year. The company is forecast to post earnings per share of ₹0.21 for next year compared to ₹0.15 last year. Announcement • Feb 14
FSN E-Commerce Ventures Limited Announces Change of Company Secretary FSN E-Commerce Ventures Limited at its board meeting held on February 13, 2023, approved the appointment of Mr. Sujeet Jain, Chief Legal and Regulatory Officer of the Company as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company (KMP) w.e.f. February 14, 2023, in place of Mr. Rajendra Punde Mr. Rajendra Punde will cease to be Company Secretary & Compliance Officer and KMP of the Company w.e.f. close of business hours on February 13, 2023. Mr. Sujeet Jain is a seasoned General Counsel with more than 25 years of experience across diversified sectors such as Telecom, Media, Technology and Cement in leadership roles. He has led Legal, Compliance, IPR, Digital Laws, Competition Laws, M&A, Regulatory, Corporate Governance, and Company Secretarial functions across organizations. His last stint was with UltraTech Cement, part of the Aditya Birla Group, serving as the Chief Legal Officer, where he led legal and regulatory matters and managed cross border transactions across multiple jurisdictions. Prior to that, he worked with Viacom18 Media as a Group General Counsel and Company Secretary. Earlier, he worked with People Group and Hutch (now Vodafone India) where he set up pan India legal operations. Mr. Jain is passionate about building teams, systems, and processes to enable organization growth and has been part of various industry and regulatory bodies such as IAMAI, CII, IBF, CMA, BCCC and BARC. For his contribution to the legal fraternity, he has received numerous industry awards and has been featured in top general counsels listings including Business World and Legal500. He is a qualified lawyer, Company Secretary, Cost Accountant, and has an MBA from Warwick Business School, UK. Reported Earnings • Feb 14
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: ₹0.03 (down from ₹0.10 in 3Q 2022). Revenue: ₹14.7b (up 34% from 3Q 2022). Net income: ₹81.9m (down 71% from 3Q 2022). Profit margin: 0.6% (down from 2.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 68%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Online Retail industry in Asia. Announcement • Feb 07
FSN E-Commerce Ventures Limited to Report Q3, 2023 Results on Feb 13, 2023 FSN E-Commerce Ventures Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Announcement • Jan 24
FSN E-Commerce Ventures Limited Appoints P. Ganesh, as Chief Financial Officer, Effective February 03, 2023 FSN E-Commerce Ventures Limited announced that the Board of Directors of the Company, at its Meeting held on January 23, 2023, has appointed Mr. P. Ganesh, as Chief Financial Officer (`CFO') and Key Managerial Personnel (`KMP') of the Company effective February 03, 2023. Mr. P. Ganesh is a qualified Chartered Accountant, Cost and Management Accountant and Company Secretary and has over 27 years of rich industry experience in domestic and international markets. Ganesh has vast and varied experience spanning across Financial Reporting, Business Finance, Domestic and International Taxation, Investor Relations, Banking, Mergers and Acquisitions and Corporate Law. Currently, he is CFO at TAFE Group. Prior to TAFE, he has held leadership roles in India and overseas with the Godrej Group, Glenmark Pharma and Pidilite. 