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As of 18 Sept 2026, 03:30 pm
For the fiscal year ended March 31, 2026, FSN E-Commerce Ventures Limited reported revenue crossing ₹10,000 crore, a 26% year-on-year increase. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 59% to ₹752 crore, resulting in a margin of 7.5%. Profit After Tax (PAT) nearly tripled to ₹204 crore, with a margin of 2%. The company has outlined a vision for fiscal year 2030 to scale Gross Merchandise Value (GMV) by 2.5 to 3 times and EBITDA by 4 to 5 times, targeting a Return on Capital Employed (ROCE) of over 40%.
On September 10, 2026, Crisil ESG Ratings & Analytics Limited assigned FSN E-Commerce Ventures Limited an ESG Rating of 64 for the fiscal year 2026. This represents an upgrade from the previous rating of 57, moving the company's classification from 'Adequate' to 'Strong'. This rating was generated based on FY2026 data and publicly available information, and the company did not engage Crisil for this assessment.
On September 5, 2026, FSN E-Commerce Ventures Limited completed the acquisition of an additional 24.2% equity stake in its subsidiary, Earth Rhythm Private Limited. Also on September 5, 2026, the company's Nomination and Remuneration Committee allotted 180,870 equity shares to employees who exercised vested stock options under the company's Employee Stock Option Schemes. This allotment increased the company's issued and paid-up share capital.
As of September 18, 2026, the daily trend for FSN E-Commerce Ventures Limited indicates a bullish Supertrend at 319.58. The 14-day Average Directional Index (ADX) is 23.02, suggesting a moderate trend strength. Key price levels to monitor include support at ₹331.52 (0.19% below the current close of ₹332.15) and resistance at ₹347.46 (4.61% above the current close).
As of 18 Sept 2026, 03:30 pm
Recent drawdown and price variability remain within the producer's contained-risk thresholds.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Upward price movement of 2.75 standard deviations recorded on 2026-08-31.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹2,782 crore | ₹2,648.17 crore | PEAK₹2,873.26 crore | ₹2,345.98 crore | ₹2,154.94 crore |
| Profit Before Exceptional Items And Tax | PEAK₹129.16 crore | ₹121.52 crore | ₹125.98 crore | ₹56.42 crore | ₹43.71 crore |
| Profit Before Tax | PEAK₹129.16 crore | ₹121.52 crore | ₹109.62 crore | ₹55.38 crore | ₹43.71 crore |
| Profit Loss For Period | PEAK₹79.76 crore | ₹78.75 crore | ₹67.74 crore | ₹32.98 crore | ₹24.47 crore |
| Comprehensive Income For The Period | ₹79.84 crore | PEAK₹81.10 crore | ₹68.22 crore | ₹35.23 crore | ₹24.59 crore |
| Finance Costs | ₹26.74 crore | ₹26.33 crore | ₹29.16 crore | PEAK₹31.47 crore | ₹30.16 crore |
Revenue from operations of ₹2,782 crore in Q1 FY2026-27 represents a 5.1% increase from ₹2,648.17 crore in the preceding quarter (Q4 FY2025-26) and a 29.1% increase from ₹2,154.94 crore in the year-ago period. The sequential growth indicates the business sustained its revenue momentum following the previous quarter.
Basic and diluted earnings per share from continuing operations both stood at ₹0.28. This is up from ₹0.27 in the preceding quarter (a 3.7% increase) and from ₹0.08 in Q1 FY2025-26 (a 250% increase). Net profit rose 225.9% over the same year-on-year period, while paid-up equity share capital increased marginally by 0.16%.
Nykaa delivered solid revenue growth and a far sharper improvement in profitability, with net profit more than tripling and margins expanding meaningfully compared to the same quarter last year. The combination of rising revenue and lower relative costs contributed to the profit surge, resulting in a stronger bottom line.
Exchange disclosures and regulatory announcements for FSN E-Commerce Ventures.
On September 10, 2026, Crisil ESG Ratings & Analytics Limited independently assigned FSN E-Commerce Ventures Limited an ESG Rating of 64 for FY2026, increasing from 57 and upgrading the company's classification from 'Adequate' to 'Strong'. The Company did not engage Crisil for this rating, which was generated based on FY2026 data and other publicly available information. This disclosure was submitted to stock exchanges on September 11, 2026, pursuant to SEBI Listing Regulations.
FSN E-Commerce Ventures Limited completed the acquisition of an additional 24.2% equity stake in its subsidiary Earth Rhythm Private Limited on September 5, 2026, with the shares credited to its demat account, following board approval on May 21, 2026.
On September 05, 2026, the Nomination and Remuneration Committee of FSN E-Commerce Ventures Limited allotted 180,870 equity shares to employees pursuant to vested stock options under the company's Employee Stock Option Schemes. This allotment resulted in an increase in the company's issued and paid-up share capital, with the new shares ranking pari-passu with existing equity shares.
FSN E-Commerce Ventures Limited (NYKAA) held its 14th Annual General Meeting on August 25, 2026, where shareholders approved the adoption of standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. The meeting also resulted in the re-appointment of directors Mr. Sanjay Nayar and Mr. Milan Khakhar by rotation, as well as the appointment of M/s. Walker Chandiok & Co. LLP as statutory auditors with remuneration to be fixed. Voting results indicated overwhelming approval for all resolutions, with the auditor appointment receiving 99.81% support from total votes cast.
FSN E-Commerce Ventures Limited (Nykaa) held its 14th Annual General Meeting on August 25, 2026, where Chairperson Falguni Nayar and CFO P. Ganesh reported FY26 financial results. Revenue crossed ₹10,000 crore, growing 26% year-on-year, while EBITDA grew 59% to ₹752 crore (margin 7.5%), and PAT nearly tripled to ₹204 crore (margin 2%). Key operational metrics included a cumulative customer base of 55 million, 313 beauty stores, and GMV of ₹20,000 crore for the year. The company outlined an FY30 vision to scale GMV by 2.5-3 times and EBITDA by 4-5 times, with a target ROCE of over 40%.
FSN E-Commerce Ventures Limited submitted a presentation to the National Stock Exchange and BSE on August 25, 2026, following its 14th Annual General Meeting held that day. The filing discloses that the company crossed Rs 10,000 Cr in revenue for FY26 with an EBITDA of Rs 752 Cr (7.5% margin) and Net Profit of Rs 752 Cr, while Fashion achieved EBITDA breakeven in Q4FY26. Key operational metrics reported include a cumulative customer base of 55 million, GMV of approximately Rs 20,000 Cr, and a store network expansion to 237 locations across 99 cities.
FSN E-Commerce Ventures Limited held its 14th Annual General Meeting on August 25, 2026, via video conferencing. The meeting adopted the standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026, and re-appointed directors Sanjay Nayar and Milan Khakhar. Shareholders also approved the appointment of M/s. Walker Chandiok & Co. LLP as the company's new statutory auditors.
On August 12, 2026, FSN E-Commerce Ventures Limited announced that its wholly owned subsidiary, Nykaa E-Retail Limited, completed the full redemption of its issued Unlisted, Unsecured, Unrated, Redeemable, Non-Convertible Debentures, in accordance with pre-agreed terms.
Recent market and company developments associated with FSN E-Commerce Ventures.
NSEs Rs 22,561.57 crore IPO ranks as Indias second-largest, behind Hyundai Motor India. The exchange attracted 189 anchor investors and raised Rs 6,746.18 crore before opening for public subscription, making it the second-highest in the historical anchor investor comparison.
Indias new-age internet companies may be sitting on a profit engine that investors are still not fully pricing in: advertising.
With Tira, Purplle, Amazon and quick-commerce platforms expanding in beauty, Nykaa and BookMyShow Live are using its festival franchise to bring brands directly to consumers and create another channel for discovery beyond its online storefront.
The company confirmed it has raised its stake in Earth Rhythm by about 25%. The new shares have now been officially transferred to the company.
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Elara Capital's Harendra Kumar expects the Nifty to rise 17-20% over the next 18 months as the rupee stabilises and earnings improve. He favours mid-caps, autos, power and fintech platforms like Nykaa and PB Fintech over private banks, citing a structural shift in profit pools across India's financial sector.
Crude oil prices remain in focus as uncertainty over an Iran-Oman deal to partially reopen the Strait of Hormuz persists, while US markets traded largely flat overnight. Indian investors will also track the US labour market after initial jobless claims remained below 200,000 for a third straight week. Back home, the June quarter earnings of State Bank of India (SBI), along with results from Trent, FSN E-Commerce Ventures (Nykaa), Titan Company, Bharti Airtel, Voltas, Bharat Forge, Mahanagar Gas, Tata Chemicals and Aditya Birla Capital, will be key market triggers.
Comprehensive Section Breakdown for FSN E-Commerce Ventures
Strategic Vision: Digitally native consumer technology platform for beauty and lifestyle.
• Enhanced quality assurance and product authenticity through direct purchasing and inventory management.
• Superior customer experience via efficient delivery and return processes.
• Curated product assortments tailored to the Indian consumer market.
• Seamless integration of online and offline retail channels.
Nykaa reported strong top-line growth in the first quarter of FY2026-27, accompanied by a much sharper increase in profitability. Revenue from operations reached ₹2,782 crore, up 29.1% from the same quarter a year ago. Pre-tax profit nearly tripled to ₹129.16 crore, while net profit rose to ₹79.76 crore, more than tripling from ₹24.47 crore in the year-ago period. The gap between revenue and profit growth led to a notable expansion in profit margins.
Pre-tax profit (PBT) of ₹129.16 crore compares with ₹121.52 crore in Q4 FY2025-26 (up 6.3%) and ₹43.71 crore in Q1 FY2025-26 (up 195.5%). Net profit for the period was ₹79.76 crore, up 1.3% sequentially and 225.9% year on year.
Profit growth far outpaced revenue growth in the year-on-year comparison. The PBT margin (PBT/revenue) rose from 2.03% in Q1 FY2025-26 to 4.64% in the current quarter. The net profit margin expanded from 1.14% to 2.87% over the same period. On a sequential basis, the PBT margin increased modestly from 4.59% in Q4 FY2025-26.
Tax expense increased to ₹49.40 crore from ₹42.77 crore in the previous quarter and from ₹19.24 crore a year ago. The effective tax rate (tax expense as a percentage of PBT) was 38.2%, down from 44.0% in the year-ago quarter and up from 35.2% in the previous quarter. The rise in the tax amount reflects the larger profit base.
Finance costs were ₹26.74 crore, relatively unchanged from ₹26.33 crore in Q4 and 11.3% lower than ₹30.16 crore in the year-ago quarter.
Category: Consumer Tech
Offers a wide range of cosmetics, skincare, haircare, and wellness products through its online platform.
Key Products & Services: Nykaa
Category: Consumer Tech
Provides designer clothes, accessories, and lifestyle products.
Key Products & Services: Nykaa Fashion
Category: Consumer Tech
Offers grooming, hair care, skin care, and wellness products specifically for men.
Key Products & Services: Nykaa Man
Category: Consumer Tech
Strategically expanded into broader wellness and lifestyle categories.
Key Products & Services: Nudge Wellness
Core Thesis: Integrates online platforms and physical stores to offer a seamless shopping experience across beauty, fashion, and wellness categories.
• Hybrid Business Model: Employs both inventory-led and marketplace approaches to offer a diverse product range and maintain quality control. • Omnichannel Integration: Combines digital innovation with a network of physical stores to reach a broader audience and provide personalized experiences. • Brand Curation and Relationships: Cultivates direct relationships with brands to curate product assortments tailored to the Indian consumer market. • Content-Driven Engagement: Leverages content to engage customers and build a strong brand presence in the beauty and fashion sectors.