In Thursday’s trading session, the shares of India’s Largest Omnichannel Beauty Company surged by 2.8 percent on BSE to Rs. 179.8, despite a significant block deal where a foreign investor offloaded a partial stake worth over Rs. 256 crore.
As of 10:54 a.m., the shares of FSN E-Commerce Ventures Limited (Nykaa) continued to trade positively at Rs. 176.7, marking a 1.06 percent increase from its previous closing price of Rs. 174.85. The company’s market capitalisation stood at Rs. 50,480.2 crore.
What’s the News:
In the latest block deal data from the NSE on July 10th, it was reported that the foreign investor Canada Pension Plan Investment Board (CPPIB) divested nearly 1.47 crore equity shares, representing a 0.52 percent stake, in FSN E-Commerce Ventures.
The transaction, valued at approximately Rs. 256.4 crore, was executed at an average price of Rs. 174.04 per share.
As of March 2024, CPPIB held around 4.2 crore shares in the company, representing a 1.47 percent stake.
Subsequently, ICICI Prudential Mutual Fund purchased the entire stake that CPPIB sold in this transaction.
Financials:
In terms of financials, the revenue from operations stood at Rs. 1,678 crore in Q4 FY23-24, rising by nearly 29 percent YoY from Rs. 1,301.72 crore in Q4 FY22-23. Similarly, the profit after tax (PAT) grew by 126 percent to Rs. 9.7 crore from Rs. 4.3 crore, during the same period.
Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA grew 32 percent on a year-on-year basis to Rs. 93.3 crore in Q4 FY23-24, while the EBITDA margin stood at 5.6 percent in Q4 FY23-24 compared to 5.4 percent in Q4 FY22-23.
Stock Performance
The stock has delivered nearly positive returns of nearly 20.4 percent in one year, but around 8.7 percent of negative returns in the last six months. So far in 2024, the shares of Nykaa have given positive returns of about 3 percent.
Shareholding Pattern:
As per the shareholding pattern of March 2024, the Promoters hold a 52.22 percent stake in the company, Foreign Institutional Investors (FII) hold a 10.32 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 20.3 percent and 17.16 percent stake in Nykaa, respectively.
About the company:
FSN E-Commerce Ventures Limited, India’s largest beauty retailer, is engaged in the business of manufacturing, selling & distributing beauty, wellness, fitness, personal care, health care, skincare, and hair care products on online platforms or websites such as e-commerce, m-commerce, internet, intranet as well as through physical stores, stalls, general trade and modern trade etc.
Written by Shivani Singh
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