Buy FSN E-Commerce Ventures, target price Rs 210: JM Financial

JM Financial has buy call on FSN E-Commerce Ventures with a target price of Rs 210. The current market price of FSN E-Commerce Ventures is Rs 146.9.

FSN E-Commerce Ventures, incorporated in the year 2012, is a Small Cap company (having a market cap of Rs 41702.77 Crore) operating in Services sector.

FSN E-Commerce Ventures key Products/Revenue Segments include E-Commerce for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1311.46 Crore, down -10.69 % from last quarter Total Income of Rs 1468.46 Crore and up 33.22 % from last year same quarter Total Income of Rs 984.46 Crore. Company has reported net profit after tax of Rs 4.28 Crore in latest quarter.

The company’s top management includes Mrs.Falguni Nayar, Mr.Seshashayee Sridhara, Mr.Pradeep Parameswaran, Ms.Alpana Parida, Ms.Anita Ramachandran, Mr.Milan Khakhar, Mr.Sanjay Nayar, Mr.Anchit Nayar, Ms.Adwaita Nayar, Mr.Milind Sarwate. Company has S R Batliboi & Asscoiates LLP as its auditors. As on 31-03-2023, the company has a total of 285 Crore shares outstanding.

Investment Rationale
The brokerage continuesto believe in Nykaa’s right to win in BPC (both B2C and eB2B) while expecting Fashion segment to focus on sustainable growth in premium fashion and hence reiterates its ‘BUY’ rating with Jun’24 TP of Rs 210.

Promoter/FII Holdings
Promoters held 52.28 per cent stake in the company as of 31-Mar-2023, while FIIs owned 12.26 per cent, DIIs 7.86 per cent.