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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543384 | NSE: NYKAA

FSN E-Commerce Ventures Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 8:35 pm

Market Cap 48,445 Cr.
Current Price 169
High / Low230/140
Stock P/E1,132
Book Value 4.57
Dividend Yield0.00 %
ROCE6.87 %
ROE2.44 %
Face Value 1.00
PEG Ratio-20.69

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for FSN E-Commerce Ventures Ltd

Competitors of FSN E-Commerce Ventures Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
FSN E-Commerce Ventures Ltd 48,445 Cr. 169230/1401,132 4.570.00 %6.87 %2.44 % 1.00
Fone4 Communications (India) Ltd 12.5 Cr. 7.328.03/3.70 3.340.00 %48.6 %62.7 % 10.0
Cartrade Tech Ltd 6,056 Cr. 1,2811,336/62265.2 4500.00 %4.20 %0.42 % 10.0
Zomato Ltd 2,33,509 Cr. 264298/113315 24.10.00 %1.14 %1.12 % 1.00
Add-Shop E-Retail Ltd 43.2 Cr. 15.334.5/13.2 39.60.00 %6.15 %2.91 % 10.0
Industry Average72,059.00 Cr242.99260.4089.710.00%10.79%9.98%7.75

All Competitor Stocks of FSN E-Commerce Ventures Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales8178851,0989731,1481,2311,4631,3021,4221,5071,7891,6681,746
Expenses7908561,0299351,1021,1701,3851,2311,3481,4261,6901,5751,650
Operating Profit27296939466178717381999396
OPM %3%3%6%4%4%5%5%5%5%5%6%6%6%
Other Income556118661079877
Interest9111313152020191921222121
Depreciation20212530313851535255586060
Profit before tax31376891391013262022
Tax %-12%15%22%-30%32%35%27%51%34%30%31%50%36%
Net Profit4129855825817914
EPS in Rs0.370.000.100.030.020.010.030.010.010.020.060.020.03

Last Updated: October 7, 2024, 8:02 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:26 pm

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales5741,1111,7682,4413,7745,1446,3866,710
Expenses6011,0911,6852,2833,6104,8876,0396,341
Operating Profit-272183158164257347369
OPM %-5%2%5%6%4%5%5%6%
Other Income45101227303031
Interest727463247768486
Depreciation731607296173224232
Profit before tax-37-32-126647386981
Tax %-25%-23%31%7%13%35%37%
Net Profit-28-25-166241214048
EPS in Rs-3.47-2.87-1.906.820.140.070.110.13
Dividend Payout %0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)10.71%36.00%487.50%-33.87%-48.78%90.48%
Change in YoY Net Profit Growth (%)0.00%25.29%451.50%-521.37%-14.91%139.26%

FSN E-Commerce Ventures Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:42%
3 Years:38%
TTM:24%
Compounded Profit Growth
10 Years:%
5 Years:27%
3 Years:-19%
TTM:118%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-25%
1 Year:-1%
Return on Equity
10 Years:%
5 Years:3%
3 Years:3%
Last Year:2%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 3:34 pm

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital1414151547285286286
Reserves1082163074751,2921,0939771,019
Borrowings833104133335937989691,306
Other Liabilities1482353904797147731,1691,112
Total Liabilities3537761,1241,3022,6462,9503,4013,723
Fixed Assets34140227231483699668714
CWIP00222431302
Investments10138410383433
Other Assets3084978921,0672,1382,1822,6682,974
Total Assets3537761,1241,3022,6462,9503,4013,723

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-79-1006133-354-1400
Cash from Investing Activity +31-16215-130-603140-10
Cash from Financing Activity +8223669-38927544
Net Cash Flow33-2690-34-30434

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-110.00-289.00-330.00-175.00-429.00-541.00-622.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days4519201191214
Inventory Days114135160122150128119
Days Payable12310011377623439
Cash Conversion Cycle355468569710694
Working Capital Days536153371058156
ROCE %-1%5%13%7%6%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters52.56%52.43%52.41%52.38%52.34%52.28%52.28%52.26%52.24%52.22%52.20%
FIIs5.73%5.98%6.54%6.57%11.06%12.26%10.04%9.84%10.65%10.32%10.48%
DIIs3.42%3.12%2.95%3.01%6.35%7.86%11.58%14.31%15.25%17.16%18.29%
Public38.29%38.47%38.10%38.03%30.24%27.62%26.10%23.60%21.87%20.31%19.02%
No. of Shareholders2,53,6663,24,1643,12,2043,21,1215,66,2825,77,9535,85,6985,65,1915,08,9365,20,7884,79,394

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mirae Asset Large Cap Fund31,535,6161.39556.4116,400,0002024-11-2392.29%
Mirae Asset Large & Midcap Fund29,720,3821.39524.3916,400,0002024-11-2381.22%
Mirae Asset ELSS Tax Saver Fund23,019,6321.67406.1616,400,0002024-11-2340.36%
SBI Contra Fund21,800,0001.12384.6416,400,0002024-11-2332.93%
Mirae Asset Midcap Fund19,000,8532.01335.2516,400,0002024-11-2315.86%
Mirae Asset Focused Fund18,237,7543.9321.7916,400,0002024-11-2311.21%
SBI Large & Midcap Fund16,400,0001.13289.3616,400,0002024-11-230%
Nippon India Focused Equity Fund14,657,0433.01258.6116,400,0002024-11-23-10.63%
Invesco India Contra Fund13,626,3551.49240.4216,400,0002024-11-23-16.91%
SBI Long Term Equity Fund12,000,0000.82211.7316,400,0002024-11-23-26.83%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.0010.0010.00
Basic EPS (Rs.)0.110.070.881.39-0.39
Diluted EPS (Rs.)0.110.070.871.39-0.39
Cash EPS (Rs.)0.930.692.9085.7229.67
Book Value[Excl.RevalReserv]/Share (Rs.)4.424.8828.38325.92221.90
Book Value[Incl.RevalReserv]/Share (Rs.)4.424.8828.38325.92221.90
Revenue From Operations / Share (Rs.)22.3618.0379.601621.001214.80
PBDIT / Share (Rs.)1.321.004.01115.0062.80
PBIT / Share (Rs.)0.530.391.9870.4221.90
PBT / Share (Rs.)0.240.130.9950.03-8.54
Net Profit / Share (Rs.)0.150.080.8741.14-11.23
NP After MI And SOA / Share (Rs.)0.110.060.8641.07-11.41
PBDIT Margin (%)5.885.565.047.095.16
PBIT Margin (%)2.372.192.484.341.80
PBT Margin (%)1.080.741.253.08-0.70
Net Profit Margin (%)0.680.481.092.53-0.92
NP After MI And SOA Margin (%)0.500.371.082.53-0.93
Return on Networth / Equity (%)2.551.393.0612.62-5.15
Return on Capital Employeed (%)9.976.445.5817.466.94
Return On Assets (%)0.940.651.554.75-1.47
Total Debt / Equity (X)0.530.330.240.380.83
Asset Turnover Ratio (%)2.010.090.120.160.29
Current Ratio (X)1.221.592.001.391.22
Quick Ratio (X)0.580.751.090.660.55
Inventory Turnover Ratio (X)0.050.120.250.110.05
Interest Coverage Ratio (X)4.543.844.095.642.06
Interest Coverage Ratio (Post Tax) (X)1.531.331.893.020.63
Enterprise Value (Cr.)46697.8335439.4380141.670.000.00
EV / Net Operating Revenue (X)7.316.8921.240.000.00
EV / EBITDA (X)124.17123.80421.290.000.00
MarketCap / Net Operating Revenue (X)7.246.8321.220.000.00
Price / BV (X)36.6525.4859.760.000.00
Price / Net Operating Revenue (X)7.246.8321.220.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of FSN E-Commerce Ventures Ltd as of November 24, 2024 is: 128.75

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, FSN E-Commerce Ventures Ltd is Overvalued by 23.82% compared to the current share price 169.00

Intrinsic Value of FSN E-Commerce Ventures Ltd as of November 24, 2024 is: 58.31

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, FSN E-Commerce Ventures Ltd is Overvalued by 65.50% compared to the current share price 169.00

Last 5 Year EPS CAGR: -54.71%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (685.88 cr) compared to borrowings (600.63 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (74.75 cr) and profit (27.50 cr) over the years.
  1. The stock has a low average ROCE of 5.29%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 63.71, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 72.86, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in FSN E-Commerce Ventures Ltd:
    1. Net Profit Margin: 0.68%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 9.97% (Industry Average ROCE: 10.79%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 2.55% (Industry Average ROE: 9.98%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.53
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.58
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 1 (Industry average Stock P/E: 260.4)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.53
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

FSN E-Commerce Ventures Ltd. is a Public Limited Listed company incorporated on 24/04/2012 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L52600MH2012PLC230136 and registration number is 230136. Currently company belongs to the Industry of E-Commerce - Electronics/Food/Others. Company’s Total Operating Revenue is Rs. 187.70 Cr. and Equity Capital is Rs. 47.41 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
E-Commerce - Electronics/Food/Others104, Vasan Udyog Bhavan, Sun Mill Compound, Mumbai Maharashtra 400013companysecretary@nykaa.com
https://www.nykaa.com
Management
NamePosition Held
Mrs. Falguni NayarExecutive Chairperson, MD & CEO
Ms. Adwaita NayarExecutive Director
Mr. Anchit NayarExecutive Director
Ms. Santosh DesaiIndependent Director
Mr. Pradeep ParameswaranIndependent Director
Mr. Seshashayee SridharaIndependent Director
Mr. Milind SarwateIndependent Director
Mr. Sanjay NayarNon Exe.Non Ind.Director
Mr. Milan KhakharNon Exe.Non Ind.Director
Ms. Anita RamachandranIndependent Director

FAQ

What is the latest intrinsic value of FSN E-Commerce Ventures Ltd?

The latest intrinsic value of FSN E-Commerce Ventures Ltd as on 24 November 2024 is ₹128.75, which is 23.82% lower than the current market price of ₹169.00.

What is the Market Cap of FSN E-Commerce Ventures Ltd?

The Market Cap of FSN E-Commerce Ventures Ltd is 48,445 Cr..

What is the current Stock Price of FSN E-Commerce Ventures Ltd as on 24 November 2024?

The current stock price of FSN E-Commerce Ventures Ltd as on 24 November 2024 is 169.

What is the High / Low of FSN E-Commerce Ventures Ltd stocks in FY 2024?

In FY 2024, the High / Low of FSN E-Commerce Ventures Ltd stocks is 230/140.

What is the Stock P/E of FSN E-Commerce Ventures Ltd?

The Stock P/E of FSN E-Commerce Ventures Ltd is 1,132.

What is the Book Value of FSN E-Commerce Ventures Ltd?

The Book Value of FSN E-Commerce Ventures Ltd is 4.57.

What is the Dividend Yield of FSN E-Commerce Ventures Ltd?

The Dividend Yield of FSN E-Commerce Ventures Ltd is 0.00 %.

What is the ROCE of FSN E-Commerce Ventures Ltd?

The ROCE of FSN E-Commerce Ventures Ltd is 6.87 %.

What is the ROE of FSN E-Commerce Ventures Ltd?

The ROE of FSN E-Commerce Ventures Ltd is 2.44 %.

What is the Face Value of FSN E-Commerce Ventures Ltd?

The Face Value of FSN E-Commerce Ventures Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in FSN E-Commerce Ventures Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE