Sell FSN E-Commerce Ventures, target price Rs 125: HDFC Securities

HDFC Securities has sell call on FSN E-Commerce Ventures with a target price of Rs 125.The current market price of FSN E-Commerce Ventures is Rs 142.45.

FSN E-Commerce Ventures, incorporated in the year 2012, is a Small Cap company (having a market cap of Rs 40774.52 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 31-12-2022, the company has reported a Consolidated Total Income of Rs 1468.46 Crore, up 18.68 % from last quarter Total Income of Rs 1237.30 Crore and up 32.98 % from last year same quarter Total Income of Rs 1104.27 Crore. Company has reported net profit after tax of Rs 9.20 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 V C Shah & Co. as its auditors. As on 31-12-2022, the company has a total of 285 Crore shares outstanding.

Investment Rationale
The brokerage has slashed its FY24/25 EBITDA estimates by 8% each to account for higher gestation in fashion/B2B biz.

Promoter/FII Holdings
Promoters held 52.34 per cent stake in the company as of 31-Dec-2022, while FIIs owned 11.06 per cent, DIIs 6.35 per cent.