NSE: NYKAA | BSE: 543384

Expensive Star

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237.47 -4.02 (-1.66%)

New 52W High in past week

3.0M NSE+BSE Volume

NSE 10 Sep, 2025 1:47 PM (IST)

67,944.7

Market Cap

Below industry Median

0.6

Beta 1Year

Very Low volatility

FSN E-Commerce Ventures Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NYKAA, BSE:543384 FSN E-Commerce Ventures Ltd.

FSN E-Commerce Ventures Ltd.

20 Jan 2023

237.47

-1.66%

Valuation turning palatable; upgrade to ADD

Accumulate: FSN E-Commerce Ventures Ltd.

ICICI Securities Limited

We had always liked Nykaa's business model. That said, post its listing on the Indian bourses, we've been staying on the sidelines due to valuations beyond our ability to comprehend (at peak stock price, revenue CAGR requirement over the next 20 years was 23%). Post ~70% correction from peak, in SoTP, BPC (beauty & personal care) business now accounts for ~77% of current price, assuming it's a defensible and high growth business in medium term.

FSN E-Commerce Ventures Ltd. is trading above all available SMAs

FSN E-Commerce Ventures Ltd.

02 Nov 2022

237.47

-1.66%

BPC > Fashion, Others (optimism, facts, reality etal. )

Hold: FSN E-Commerce Ventures Ltd.

Target

ICICI Securities Limited

Nykaa had a mixed quarter. Overall GMV grew by 9% QoQ (39% YoY) while Fashion business GMV grew by just 3% QoQ (flattish MAUV for last 5 quarters) despite a) some benefits of festive season in 2QFY23 and b) small size in a larger market (compared to BPC).

FSN E-Commerce Ventures Ltd. has gained 44.10% in the last 6 Months

FSN E-Commerce Ventures Ltd.

08 Aug 2022

237.47

-1.66%

Going beyond (just) specialised retail

Hold: FSN E-Commerce Ventures Ltd.

Target

ICICI Securities Limited

Nykaa’s 1Q revenue print was above expectation. It continues to (1) invest in growing new businesses along with (2) have resilient unit economics of BPC and fashion vertical driven by focus towards driving higher conversion and quality traffic.

FSN E-Commerce Ventu.. has an average target of 229.00 from 1 broker.

FSN E-Commerce Ventures Ltd.

29 May 2022

237.47

-1.66%

Chasing growth with some pangs

Hold: FSN E-Commerce Ventures Ltd.

ICICI Securities Limited

Nykaa’s Q4FY22 revenue performance was in line with our estimate. We like the higher investments in growing new businesses with resilient BPC margins. Regionalisation of warehousing to drive better consumer experience (reduce delivery time) was much required given that horizontal players are already providing better consumer experience.

FSN E-Commerce Ventu.. has an average target of 229.00 from 1 broker.

FSN E-Commerce Ventures Ltd.

29 Oct 2021

237.47

-1.66%

Tapping into the female demographic: Nykaa is profitable, cheaper than peers

IPO Note: FSN E-Commerce Ventures Ltd.

Trendlyne Analysis

As the festive season kicks off, a wave of internet startups are hitting the markets. Following the success of Zomato, FSN E-Commerce Ventures, the company behind the cosmetics e-commerce retailer Nykaa is set to launch its initial public offering (IPO) on October 28.

Number of FII/FPI investors increased from 243 to 471 in Jun 2025 qtr.

FSN E-Commerce Ventures Ltd.

29 Oct 2021

237.47

-1.66%

Unique e-com player with untapped growth potential

IPO Note: FSN E-Commerce Ventures Ltd.

ICICI Securities Limited

Incorporated in 2012, FSN E-Commerce Ventures, more commonly known as Nykaa, is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers through its diverse portfolio of beauty, personal care & fashion products including their own brand products.

FSN E-Commerce Ventures Ltd. is trading above all available SMAs

FSN E-Commerce Ventures Ltd.

28 Oct 2021

237.47

-1.66%

FSN E-Commerce Ventures Limited (Nykaa IPO)

IPO Note: FSN E-Commerce Ventures Ltd.

Angel Broking

Nykaa is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care, and fashion products, including their own brand products manufactured by them. The company has an Omnichannel experience, online and offline with an endeavor to cater to the consumers' preferences and convenience.

Number of FII/FPI investors increased from 243 to 471 in Jun 2025 qtr.

FSN E-Commerce Ventures Ltd.

27 Oct 2021

237.47

-1.66%