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Last Updated: April 2, 2026, 4:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543384 | NSE: NYKAA

FSN E-Commerce Ventures Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹92.71Overvalued by 61.37%vs CMP ₹240.00

P/E (454.0) × ROE (5.2%) × BV (₹4.85) × DY (2.00%)

₹39.12Overvalued by 83.70%vs CMP ₹240.00
MoS: -513.5% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹119.1126%Over (-50.4%)
Graham NumberEarnings₹7.3119%Over (-97%)
DCFCash Flow₹7.4312%Over (-96.9%)
Net Asset ValueAssets₹4.858%Over (-98%)
EV/EBITDAEnterprise₹20.9710%Over (-91.3%)
Earnings YieldEarnings₹4.908%Over (-98%)
ROCE CapitalReturns₹14.2110%Over (-94.1%)
Revenue MultipleRevenue₹27.776%Over (-88.4%)
Consensus (8 models)₹39.12100%Overvalued
Key Drivers: EPS CAGR 28.5% lifts DCF — verify sustainability. | P/E of 454 makes PE-ROE unreliable — asset/earnings models are better benchmarks.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 28.5%

*Investments are subject to market risks

Investment Snapshot

59
FSN E-Commerce Ventures Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 9.6% AverageROE 5.2% WeakD/E 0.38 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money70/100 · Strong
FII holding up 3.32% (6mo) AccumulatingPromoter holding at 52.1% Stable
Earnings Quality50/100 · Moderate
OPM stable around 6% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +25% YoY AcceleratingProfit (4Q): +132% YoY Strong
Industry Rank40/100 · Moderate
P/E 454.0 vs industry 194.9 Premium to peersROCE 9.6% vs industry 9.7% AverageROE 5.2% vs industry 11.0% Below peers3Y sales CAGR: 28% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:38 am

Market Cap 68,709 Cr.
Current Price 240
Intrinsic Value₹39.12
High / Low 286/160
Stock P/E454
Book Value 4.85
Dividend Yield0.00 %
ROCE9.59 %
ROE5.16 %
Face Value 1.00
PEG Ratio15.94

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

View Share Price Target for FSN E-Commerce Ventures Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
FSN E-Commerce Ventures Ltd 68,709 Cr. 240 286/160454 4.850.00 %9.59 %5.16 % 1.00
Cartrade Tech Ltd 8,408 Cr. 1,756 3,291/1,36241.0 4870.00 %7.59 %6.24 % 10.0
Zomato Ltd 2,28,250 Cr. 237 368/190988 31.90.00 %2.66 %1.71 % 1.00
Nandani Creation Ltd 52.4 Cr. 27.4 51.0/24.431.9 33.50.00 %11.2 %7.85 % 10.0
Add-Shop E-Retail Ltd 17.6 Cr. 6.21 12.0/5.5716.6 40.00.00 %4.26 %3.03 % 10.0
Industry Average101,789.00 Cr268.67194.9092.790.00%9.70%10.97%8.00

All Competitor Stocks of FSN E-Commerce Ventures Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,4631,3021,4221,5071,7891,6681,7461,8752,2672,0622,1552,3462,873
Expenses 1,3851,2311,3481,4261,6901,5751,6501,7712,1261,9282,0142,1872,644
Operating Profit 78717381999396104141133141159230
OPM % 5%5%5%5%6%6%6%6%6%6%7%7%8%
Other Income 6107987756997-10
Interest 20191921222121243230303129
Depreciation 51535255586060647073767981
Profit before tax 13910132620222145404455110
Tax % 27%51%34%30%31%50%36%37%39%52%44%40%38%
Net Profit 825817914132619243368
EPS in Rs 0.030.010.010.020.060.020.030.040.090.070.080.120.22

Last Updated: March 3, 2026, 9:48 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:25 am

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5741,1111,7682,4413,7745,1446,3867,9509,436
Expenses 6011,0911,6852,2833,6104,8876,0397,4758,773
Operating Profit -272183158164257347475663
OPM % -5%2%5%6%4%5%5%6%7%
Other Income 4510122730302715
Interest 7274632477684108121
Depreciation 731607296173224266309
Profit before tax -37-32-1266473869127248
Tax % -25%-23%31%7%13%35%37%42%
Net Profit -28-25-166241214072144
EPS in Rs -3.47-2.87-1.906.820.140.070.110.230.49
Dividend Payout % 0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)10.71%36.00%487.50%-33.87%-48.78%90.48%80.00%
Change in YoY Net Profit Growth (%)0.00%25.29%451.50%-521.37%-14.91%139.26%-10.48%

FSN E-Commerce Ventures Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:35%
3 Years:28%
TTM:25%
Compounded Profit Growth
10 Years:%
5 Years:43%
3 Years:17%
TTM:107%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:2%
1 Year:11%
Return on Equity
10 Years:%
5 Years:4%
3 Years:3%
Last Year:5%

Last Updated: September 5, 2025, 3:30 pm

Balance Sheet

Last Updated: March 3, 2026, 2:59 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 1414151547285286286286
Reserves 1082163074751,2921,0939771,0151,102
Borrowings 833104133335937989691,3211,407
Other Liabilities 1482353904797147731,1691,3581,538
Total Liabilities 3537761,1241,3022,6462,9503,4013,9804,332
Fixed Assets 34140227231483699668835920
CWIP 0022243130375
Investments 1013841-0383400
Other Assets 3084978921,0672,1382,1822,6683,1083,408
Total Assets 3537761,1241,3022,6462,9503,4013,9804,332

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -79-1006133-354-1400467
Cash from Investing Activity + 31-16215-130-603140-10-205
Cash from Financing Activity + 8223669-38927544-212
Net Cash Flow 33-2690-34-3043449
Free Cash Flow -106-135-4091-448-348-110339
CFO/OP 298%-478%13%92%-172%-18%38%111%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-110.00-289.00-330.00-175.00-429.00-541.00-622.00474.00

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 2024Mar 2025
Debtor Days 451920119121411
Inventory Days 114135160122150128119116
Days Payable 1231001137762343952
Cash Conversion Cycle 35546856971069475
Working Capital Days 0-16-5367401014
ROCE %-1%5%13%7%6%7%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 52.28%52.28%52.26%52.24%52.22%52.20%52.18%52.16%52.16%52.14%52.12%52.10%
FIIs 12.26%10.04%9.84%10.65%10.32%10.48%10.13%9.05%8.83%11.63%12.54%12.15%
DIIs 7.86%11.58%14.31%15.25%17.16%18.29%21.83%23.56%25.20%23.64%24.99%25.36%
Public 27.62%26.10%23.60%21.87%20.31%19.02%15.86%15.23%13.81%12.58%10.36%10.41%
No. of Shareholders 5,77,9535,85,6985,65,1915,08,9365,20,7884,79,3944,73,2134,84,2564,72,4624,36,3594,15,7234,16,760

Shareholding Pattern Chart

No. of Shareholders

FSN E-Commerce Ventures Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Multi Asset Allocation Fund 7,858 0.48 33000N/AN/AN/A
ICICI Prudential Large & Mid Cap Fund 34,385,217 3.2 912.8636,479,5532026-03-23 03:58:05-5.74%
HDFC Flexi Cap Fund 31,000,000 0.82 822.9935,000,0002026-01-25 06:56:33-11.43%
Nippon India Multi Cap Fund 30,012,869 1.57 796.7828,512,8692026-02-22 02:39:465.26%
HSBC Midcap Fund 24,497,300 5.22 650.3517,668,2002025-12-15 05:10:2838.65%
SBI Midcap Fund 22,205,929 2.55 589.5222,336,6242025-12-15 05:10:28-0.59%
SBI Contra Fund 22,188,917 1.2 589.0721,800,0002025-11-03 20:35:591.78%
SBI ELSS Tax Saver Fund 22,000,000 1.82 584.06N/AN/AN/A
HDFC Focused Fund 20,000,000 1.96 530.96N/AN/AN/A
Mirae Asset Large & Midcap Fund 18,851,468 1.17 500.4729,720,3822025-10-30 03:31:46-36.57%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.0010.00
Basic EPS (Rs.) 0.230.110.070.881.39
Diluted EPS (Rs.) 0.230.110.070.871.39
Cash EPS (Rs.) 1.190.930.692.9085.72
Book Value[Excl.RevalReserv]/Share (Rs.) 4.554.424.8828.38325.92
Book Value[Incl.RevalReserv]/Share (Rs.) 4.554.424.8828.38325.92
Revenue From Operations / Share (Rs.) 27.8022.3618.0379.601621.00
PBDIT / Share (Rs.) 1.751.321.004.01115.00
PBIT / Share (Rs.) 0.820.530.391.9870.42
PBT / Share (Rs.) 0.440.240.130.9950.03
Net Profit / Share (Rs.) 0.250.150.080.8741.14
NP After MI And SOA / Share (Rs.) 0.230.110.060.8641.07
PBDIT Margin (%) 6.305.885.565.047.09
PBIT Margin (%) 2.952.372.192.484.34
PBT Margin (%) 1.601.080.741.253.08
Net Profit Margin (%) 0.920.680.481.092.53
NP After MI And SOA Margin (%) 0.830.500.371.082.53
Return on Networth / Equity (%) 5.072.551.393.0612.62
Return on Capital Employeed (%) 12.909.976.445.5817.46
Return On Assets (%) 1.660.940.651.554.75
Long Term Debt / Equity (X) 0.080.000.000.000.00
Total Debt / Equity (X) 0.730.530.330.240.38
Asset Turnover Ratio (%) 2.152.010.090.120.16
Current Ratio (X) 1.241.221.592.001.39
Quick Ratio (X) 0.580.580.751.090.66
Inventory Turnover Ratio (X) 6.090.050.120.250.11
Interest Coverage Ratio (X) 4.674.543.844.095.64
Interest Coverage Ratio (Post Tax) (X) 1.691.531.331.893.02
Enterprise Value (Cr.) 51981.3646697.8335439.4380141.670.00
EV / Net Operating Revenue (X) 6.547.316.8921.240.00
EV / EBITDA (X) 103.72124.17123.80421.290.00
MarketCap / Net Operating Revenue (X) 6.447.246.8321.220.00
Price / BV (X) 39.3536.6525.4859.760.00
Price / Net Operating Revenue (X) 6.447.246.8321.220.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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/E-Retail. Company's Total Operating Revenue is Rs. 419.95 Cr. and Equity Capital is Rs. 285.93 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
E-Commerce - Electronics/Food/Others104, Vasan Udyog Bhavan, Mumbai Maharashtra 400013Contact not found
Management
NamePosition Held
Mrs. Falguni NayarExe.Chairman & Mng.Director
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 Executive Director
Mr. Milan KhakharNon Executive Director
Ms. Anita RamachandranIndependent Director

FAQ

What is the intrinsic value of FSN E-Commerce Ventures Ltd and is it undervalued?

As of 17 April 2026, FSN E-Commerce Ventures Ltd's intrinsic value is ₹39.12, which is 83.70% lower than the current market price of ₹240.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.16 %), book value (₹4.85), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of FSN E-Commerce Ventures Ltd?

FSN E-Commerce Ventures Ltd is trading at ₹240.00 as of 17 April 2026, with a FY2026-2027 high of ₹286 and low of ₹160. The stock is currently in the middle of its 52-week range. Market cap stands at ₹68,709 Cr..

How does FSN E-Commerce Ventures Ltd's P/E ratio compare to its industry?

FSN E-Commerce Ventures Ltd has a P/E ratio of 454, which is above the industry average of 194.90. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is FSN E-Commerce Ventures Ltd financially healthy?

Key indicators for FSN E-Commerce Ventures Ltd: ROCE of 9.59 % is on the lower side compared to the industry average of 9.70%; ROE of 5.16 % is below ideal levels (industry average: 10.97%). Dividend yield is 0.00 %.

Is FSN E-Commerce Ventures Ltd profitable and how is the profit trend?

FSN E-Commerce Ventures Ltd reported a net profit of ₹72 Cr in Mar 2025 on revenue of ₹7,950 Cr. Compared to ₹41 Cr in Mar 2022, the net profit shows an improving trend.

Does FSN E-Commerce Ventures Ltd pay dividends?

FSN E-Commerce Ventures Ltd has a dividend yield of 0.00 % at the current price of ₹240.00. The company is currently not paying meaningful dividends.

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
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