Fsn E-Commerce Ventures Ltd - Public Comps and Valuation Multiples

Fsn E-Commerce Ventures Ltd Overview

About Fsn E-Commerce Ventures Ltd

FSN E-Commerce Ventures Ltd is engaged in the business of manufacturing, selling and distributing beauty, wellness, fitness, personal care, health care, skin care, hair care products, fashion garments, fashion accessories and equipments on the online portals or websites such as e-commerce, m-commerce, internet, intranet as well as through physical stores, stalls, general trade and modern trade etc. In addition, it also provides marketing support services. The group operates in the following segments: Beauty, Fashion, and Others. The majority of its revenue is generated from the Beauty segment, which comprises online beauty platform, beauty-owned brands, physical retail stores, eB2B distribution business, and Nykaa Man BPC business. Geographically, the group derives key revenue from India.

Founded

2012

HQ

Employees

491

Website

nykaa.com

Sectors

Consumer E-commerce

Financials

LTM Revenue $1.0B

LTM EBITDA $69.6M

EV

$8.4B

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Fsn E-Commerce Ventures Ltd Financials

As of September 2025, Fsn E-Commerce Ventures Ltd reported last 12-month revenue of $1.0B and EBITDA of $69.6M.

In the same period, Fsn E-Commerce Ventures Ltd generated $448M in LTM gross profit and $18.0M in net income.

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Fsn E-Commerce Ventures Ltd P&L

In the most recent fiscal year, Fsn E-Commerce Ventures Ltd reported revenue of $889M and EBITDA of $56.2M.

Fsn E-Commerce Ventures Ltd expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Fsn E-Commerce Ventures Ltd valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.0B	XXX	$889M	XXX	XXX	XXX
Gross Profit	$448M	XXX	$376M	XXX	XXX	XXX
Gross Margin	44%	XXX	42%	XXX	XXX	XXX
EBITDA	$69.6M	XXX	$56.2M	XXX	XXX	XXX
EBITDA Margin	7%	XXX	6%	XXX	XXX	XXX
EBIT	$37.0M	XXX	$23.9M	XXX	XXX	XXX
EBIT Margin	4%	XXX	3%	XXX	XXX	XXX
Net Profit	$18.0M	XXX	$7.4M	XXX	XXX	XXX
Net Margin	2%	XXX	1%	XXX	XXX	XXX
Net Debt	XXX	XXX	$94.3M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Fsn E-Commerce Ventures Ltd including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.0B. EBITDA for the last twelve months was $69.6M. In the most recent fiscal year, Fsn E-Commerce Ventures Ltd achieved $889M in revenue and $56.2M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.0B	Analyst estimates available to subscribers	$889M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$448M	Analyst estimates available to subscribers	$376M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	44.1% gross margin	Analyst estimates available to subscribers	42.3% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$69.6M	Analyst estimates available to subscribers	$56.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.8% EBITDA margin	Analyst estimates available to subscribers	6.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$37.0M	Analyst estimates available to subscribers	$23.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	3.6% EBIT margin	Analyst estimates available to subscribers	2.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$18.0M	Analyst estimates available to subscribers	$7.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	1.8% net profit margin	Analyst estimates available to subscribers	0.8% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$94.3M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Fsn E-Commerce Ventures Ltd

This financial data table provides comprehensive performance metrics for Fsn E-Commerce Ventures Ltd, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Fsn E-Commerce Ventures Ltd generated $1.0B in revenue over the last twelve months.
The company achieved $69.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $448M.
Net income over the last twelve months reached $18.0M.

Fiscal Year Performance

In the most recent fiscal year, Fsn E-Commerce Ventures Ltd reported $889M in total revenue.
Fiscal year EBITDA was $56.2M.
The company maintained a gross profit margin of 42.3% in the most recent fiscal year.
EBITDA margin for the fiscal year was 6.3%.
Net profit margin reached 0.8% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Fsn E-Commerce Ventures Ltd. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Fsn E-Commerce Ventures Ltd Stock Performance

Fsn E-Commerce Ventures Ltd has current market cap of INR 731B (or $8.2B), and EV of INR 741B (or $8.4B).

Market Cap Evolution

Fsn E-Commerce Ventures Ltd Stock Data

As of October 7, 2025, Fsn E-Commerce Ventures Ltd's stock price is INR 256 (or $3).

See Fsn E-Commerce Ventures Ltd trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$8.4B	$8.2B	XXX	XXX	XXX	XXX	$0.01

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Fsn E-Commerce Ventures Ltd Valuation Multiples

Fsn E-Commerce Ventures Ltd's trades at 9.9x EV/Revenue multiple, and 158.5x EV/EBITDA.

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Fsn E-Commerce Ventures Ltd Financial Valuation Multiples

As of October 7, 2025, Fsn E-Commerce Ventures Ltd has market cap of $8.2B and EV of $8.4B.

Equity research analysts estimate Fsn E-Commerce Ventures Ltd's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Fsn E-Commerce Ventures Ltd has a P/E ratio of 457.0x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$8.2B	XXX	$8.2B	XXX	XXX	XXX
EV (current)	$8.4B	XXX	$8.4B	XXX	XXX	XXX
EV/Revenue	8.2x	XXX	9.9x	XXX	XXX	XXX
EV/EBITDA	120.0x	XXX	158.5x	XXX	XXX	XXX
EV/EBIT	225.7x	XXX	391.0x	XXX	XXX	XXX
EV/Gross Profit	18.6x	XXX	n/a	XXX	XXX	XXX
P/E	457.0x	XXX	1268.4x	XXX	XXX	XXX
EV/FCF	335.3x	XXX	326.7x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Fsn E-Commerce Ventures Ltd Margins & Growth Rates

Fsn E-Commerce Ventures Ltd's last 12 month revenue growth is 25%

Fsn E-Commerce Ventures Ltd's revenue per employee in the last FY averaged $1.8M, while opex per employee averaged $0.7M for the same period.

Fsn E-Commerce Ventures Ltd's rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Fsn E-Commerce Ventures Ltd's rule of X is 69% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Fsn E-Commerce Ventures Ltd Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	25%	XXX	26%	XXX	XXX	XXX
EBITDA Margin	7%	XXX	6%	XXX	XXX	XXX
EBITDA Growth	49%	XXX	46%	XXX	XXX	XXX
Rule of 40	31%	XXX	31%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	69%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.8M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	20%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	40%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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