FSN E-Commerce Ventures Limited (NYKAA.BO) stock analysis

In our weekly check, FSN E-Commerce Ventures Limited is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 4, red flags: 4.

About FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited is a Consumer Cyclical company (Specialty Retail) based in India, listed on BSE as NYKAA.BO.

What our checks show for NYKAA.BO

Red flags

• The gross margin fell by 4.3 points, to 40%: costs are rising faster than prices.
• The net margin is only 2.4%: little room if costs rise.
• The stock has fallen as much as 72% from a peak. Would you have held through that?
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.

Warning signs

• Free cash flow is only 4.1% of revenue.
• The price is 393 times earnings (P/E): the market already pays for a lot of future growth.
• The stock is still below its previous peak.
• Thinly traded (about 334 thousand shares a day): buying and selling can move the price.

Strengths

• Debt is low: 0x equity.
• The net margin rose by 2 points over 5 years, to 2.4%.
• Operating cash flow is 2.3x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 78.5% a year over the next years.
• Analysts expect revenue to grow about 25.7% a year over the next years.
• Analysts expect the net margin to improve by 3.9 points from today's 2.4%.

Next earnings report: 2026-11-04

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Questions

What grade does FSN E-Commerce Ventures Limited (NYKAA.BO) have?

In our weekly check, FSN E-Commerce Ventures Limited is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 4, red flags: 4. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of NYKAA.BO stock?

This week's biggest flags for FSN E-Commerce Ventures Limited: Gross margin falling, Thin margins, Deep past fall. In total 8 of 24 checks show a warning or a red flag.

What does FSN E-Commerce Ventures Limited do?

FSN E-Commerce Ventures Limited is a Consumer Cyclical company (Specialty Retail) based in India, listed on BSE as NYKAA.BO.

When does FSN E-Commerce Ventures Limited report earnings next?

The next earnings report is expected on 2026-11-04. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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