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FSN E-Commerce Ventures (NYKAA) had a P/E of 315.2× on 6 Nov 2026, above the industry P/E of 16.3×. Its ROCE of 24% is the highest among the 7 largest Internet Retail peers, and sales and net profit grew 25% and 118% a year over 3 years. Debt is 0.89× equity. It is a large-cap company with a market cap of ₹1.0 lakh crore, ranked 3rd of 13 Internet Retail companies by market cap; the shares rose 40% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹348.00
Day high
₹353.30
Day low
₹344.55
Prev. close
₹350.30
Volume
43 L

Health check

2 good · 2 fair · 2 to check
  • ReturnsAhead

    +39.7% over a year, better than 7 of 7 peers.

  • Price tagPricier

    P/E 315.2 vs industry 16.3.

  • GrowthSteady

    Sales +24.7%, profit +117.9% a year over 3 years.

  • ProfitabilityStrong

    ROCE 24.0% vs peer median -11.6%.

  • Balance sheetFair

    Debt 0.89× equity, interest covered 3.9×, Piotroski 7 of 9.

  • Red flags1 to check

    P/E of 315.2 against an industry P/E of 16.3.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Internet Retail

12 listed peers. Screen the industry

Large cap

₹1.0L Cr, #3 of 13 in its industry by size.

Defensive

Beta 0.30 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹11,309 Cr · profit ₹323 Cr
Market cap
₹1.0L Cr
Large cap
P/E
315.2
Industry 16.3
Price to book
61.43
Peers 4.02
Dividend yield
0.00%
ROE
20.8%
Peers −17.1%
ROCE
24.0%
Peers −11.6%
Debt to equity
0.89
Debt ₹1,533 Cr
EPS (TTM)
₹1.12
Face value ₹1
OPM (TTM)
8.4%
Net margin 2.9%
Sales growth
+28.1%
Latest quarter vs a year ago
Profit growth
+192.8%
Latest quarter vs a year ago
Price to sales
8.94
EV/EBITDA 141.3

Strengths and risks

Strengths

  • Return on equity of 20.8%.
  • Return on capital employed of 24.0%.
  • Quarterly profit up 192.8% on a year ago.
  • Quarterly sales up 28.1% on a year ago.

Risks to check

  • P/E of 315.2 against an industry P/E of 16.3.

Derived automatically from reported figures. Not a recommendation.

About FSN E-Commerce Ventures

FSN E-Commerce Ventures Limited, through its subsidiaries, manufactures, sells, and distributes beauty and lifestyle products in India and internationally. It operates through three segments: Beauty, Fashion, and Others. The company offers makeup for face, eyes, lips, and nails, as well as makeup palettes and tools and brushes; body, eye lip, sun, and hands and feet care products, as well as moisturizers, serums, cleansers, masks, toners, skin tools and…

Headquarters
Mumbai
Employees
2,028
Sector
Consumer Cyclical
ISIN
INE388Y01029
Website
nykaa.com

Price range

52 weeks

₹232.00₹363.40

Today

₹344.55₹353.30
Avg volume (3M)
50.1 L
1-year return
plus 39.7%
From 52-week high
minus 2.9%

Analyst consensus

26 analysts
BuyMean target ₹355.88 plus 0.8%

Target range, with today’s price

Low ₹220.00High ₹427.00

Next results expected around 4 Feb 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Internet Retail

Compare with peersScreen the whole industry
Company
ETERNALEternal363.15plus 1.35%3,34,562685.210.372.9%1.6%2.8%97.7%–0.00%plus 14.3%
MEESHOMeesho233.48minus 0.02%1,08,125–26.26−27.0%−36.5%−8.4%30.1%–0.00%plus 37.3%
NYKAAFSN E-Commerce Ventures353.00plus 0.77%1,01,158315.261.4324.0%20.8%8.4%24.7%117.9%0.00%plus 39.7%
SWIGGYSwiggy191.17plus 0.88%50,141–3.01−19.4%−26.7%−10.8%41.0%–0.00%minus 54.2%
INDIAMARTIndiamart Intermesh1,547.10minus 1.85%9,30418.64.0220.0%22.5%32.0%16.8%18.7%1.94%minus 36.1%
FIRSTCRYBrainbees Solutions159.61minus 2.40%7,754–1.59−0.2%−2.9%3.3%16.4%–0.00%minus 53.1%
RTNINDIARattanIndia Enterprises25.12minus 1.87%3,469–4.46−11.6%−31.3%−0.5%22.1%–0.00%minus 50.5%
ACEVECTORAceVector18.81minus 5.10%1,024–2.74−12.0%−17.1%−9.9%−23.7%–0.00%minus 27.9%
Median of 7 peers–−1.85%9,304351.94.02−11.6%−17.1%−0.5%22.1%18.7%0.00%−36.1%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
2,3462,8732,6482,7823,006
2,1872,6442,4252,5462,743
159230223236263
6.8%8.0%8.4%8.5%8.7%
86.39.29.39.5
31.529.226.326.730.5
79.180.984.289.593.1
−1−16.4–––
55.4110122129149
40.4%38.2%35.2%38.2%31.9%
34.463.378.480101
0.120.220.270.280.35

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+24.7%
Profit CAGR 3Y
+117.9%
EPS CAGR 3Y
+115.4%
ROE
20.8%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5,1176,3407,8859,929
–+23.9%+24.4%+25.9%
4,8605,9937,4069,169
257347478761
5.0%5.5%6.1%7.7%
25.624.520.427.1
7280.8105114
173224266320
12.80.3−23.8
38.469127330
35.4%36.7%42.2%38.2%
19.332.366.1199
–+67.5%+104.8%+201.8%
0.070.110.230.70

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
285286286286
1,0939771,0151,152
7989691,3211,238
7731,1691,3581,936
2,9503,4013,9804,611
559507607774
15.910.55.612.2
25.246.40.2
299259278408
2,0732,6193,0423,417
2,9503,4013,9804,611

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
−1400.3467644
140−10.1−205−159
4.944.3−212−433
4.234.449.252.3
−208−111−127−154
−348−110339490

Shareholding pattern

Source: NSE filings
52.1%
promoters
  • Promoters52.07%
  • Public47.93%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202652.07%47.93%minus 0.01
30 Jun 202652.08%47.92%minus 0.01
31 Mar 202652.09%47.91%minus 0.01
31 Dec 202552.10%47.90%minus 0.02
30 Sep 202552.12%47.88%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you