E-Commerce/App based Aggregator · NYKAA
New age - Platform - E-Retail
from 340 today
FSN E-Commerce Ventures is entering a period where earnings should grow much faster than GMV and revenue as Beauty is already profitable and Fashion reported EBITDA breakeven. We initiate coverage with a BUY rating and an SOTP-based TP of Rs 390.
FSN E-commerce Ventures reported a 1QFY27 net revenue of INR27.8b, up 29% YoY. Valuations remain a key deterrent, and we await a better risk-reward profile to turn constructive on the stock, reiterating our Neutral rating with a target price of INR370.
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