FSN E-Commerce Ventures Limited

NSEI:NYKAA Stock Report

Market Cap: ₹470.7b

FSN E-Commerce Ventures Valuation

Is NYKAA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NYKAA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NYKAA (₹165.32) is trading above our estimate of fair value (₹51.16)

Significantly Below Fair Value: NYKAA is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NYKAA?

Key metric: As NYKAA is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for NYKAA. This is calculated by dividing NYKAA's market cap by their current revenue.
What is NYKAA's PS Ratio?
PS Ratio6.7x
Sales₹70.78b
Market Cap₹470.73b

Price to Sales Ratio vs Peers

How does NYKAA's PS Ratio compare to its peers?

The above table shows the PS ratio for NYKAA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4x
FIRSTCRY Brainbees Solutions
4.8x16.6%₹339.2b
PNGJL N Gadgil Jewellers
1.3x19.2%₹93.7b
THANGAMAYL Thangamayil Jewellery
1.3x23.5%₹56.0b
PCJEWELLER PC Jeweller
8.6xn/a₹85.9b
NYKAA FSN E-Commerce Ventures
6.7x19.9%₹472.6b

Price-To-Sales vs Peers: NYKAA is expensive based on its Price-To-Sales Ratio (6.7x) compared to the peer average (4x).

Price to Sales Ratio vs Industry

How does NYKAA's PS Ratio compare vs other companies in the IN Specialty Retail Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
SHANKARA Shankara Building Products
0.3xn/aUS$199.88m
PVSL Popular Vehicles and Services
0.2xn/aUS$131.71m
543746 Logica Infoway
0.4xn/aUS$43.90m
531041 Competent Automobiles
0.2xn/aUS$38.09m
NYKAA 6.7xIndustry Avg. 1.7xNo. of Companies13PS02.44.87.29.612+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: NYKAA is expensive based on its Price-To-Sales Ratio (6.7x) compared to the Indian Specialty Retail industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is NYKAA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NYKAA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.7x
Fair PS Ratio6.6x

Price-To-Sales vs Fair Ratio: NYKAA is expensive based on its Price-To-Sales Ratio (6.7x) compared to the estimated Fair Price-To-Sales Ratio (6.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NYKAA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹165.32
₹193.46
+17.0%
15.7%₹250.00₹140.00n/a24
Dec ’25₹172.06
₹192.96
+12.1%
15.7%₹250.00₹140.00n/a24
Nov ’25₹184.18
₹203.04
+10.2%
15.4%₹252.00₹140.00n/a24
Oct ’25₹197.34
₹201.50
+2.1%
15.4%₹252.00₹140.00n/a24
Sep ’25₹207.70
₹197.91
-4.7%
14.6%₹250.00₹140.00n/a23
Aug ’25₹192.36
₹192.87
+0.3%
15.4%₹250.00₹135.00n/a23
Jul ’25₹175.95
₹193.30
+9.9%
15.3%₹250.00₹135.00n/a23
Jun ’25₹164.20
₹187.09
+13.9%
15.6%₹250.00₹135.00n/a22
May ’25₹176.75
₹177.91
+0.7%
16.2%₹250.00₹135.00n/a22
Apr ’25₹164.55
₹177.00
+7.6%
15.9%₹240.00₹135.00n/a22
Mar ’25₹157.25
₹177.50
+12.9%
15.7%₹240.00₹135.00n/a22
Feb ’25₹163.20
₹181.50
+11.2%
17.0%₹250.00₹125.00n/a22
Jan ’25₹171.90
₹174.09
+1.3%
16.4%₹240.00₹125.00₹164.6822
Dec ’24₹176.65
₹171.91
-2.7%
16.4%₹240.00₹125.00₹172.0622
Nov ’24₹139.55
₹170.48
+22.2%
17.5%₹240.00₹106.00₹184.1821
Oct ’24₹153.20
₹169.29
+10.5%
17.7%₹240.00₹106.00₹197.3421
Sep ’24₹135.45
₹167.59
+23.7%
18.2%₹240.00₹106.00₹207.7022
Aug ’24₹147.80
₹191.87
+29.8%
36.9%₹458.33₹106.00₹192.3621
Jul ’24₹148.60
₹193.37
+30.1%
37.1%₹458.33₹106.00₹175.9520
Jun ’24₹126.15
₹193.07
+53.0%
37.1%₹458.33₹106.00₹164.2020
May ’24₹122.60
₹208.18
+69.8%
33.2%₹458.33₹115.00₹176.7519
Apr ’24₹124.25
₹211.07
+69.9%
34.1%₹458.33₹115.00₹164.5518
Mar ’24₹142.75
₹216.73
+51.8%
32.3%₹458.33₹130.00₹157.2517
Feb ’24₹137.15
₹254.24
+85.4%
28.8%₹458.33₹145.00₹163.2017
Jan ’24₹154.85
₹263.59
+70.2%
25.3%₹458.33₹166.67₹171.9017

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 12:48
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

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 .

Analyst Sources

FSN E-Commerce Ventures Limited is covered by 30 analysts. 23 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
Anand ShahAxis Capital Limited
Sachin SalgaonkarBofA Global Research