Q2 2025 Fsn E-Commerce Ventures Ltd Earnings Call Transcript
Key Points
- FSN E-Commerce Ventures Ltd (BOM:543384) reported a strong GMV growth of 24% year on year, with revenue from operations reaching INR1,875 crores.
- The company achieved a gross profit margin of 43.8%, marking a 70 basis point improvement year on year.
- EBITDA grew by 29% year on year, exceeding INR100 crores for the quarter.
- The beauty segment experienced a robust 29% year on year growth in GMV, driven by new customer acquisition and expansion in the premium fragrance market.
- FSN E-Commerce Ventures Ltd expanded its physical retail footprint to 210 stores across 70-plus cities, making it the largest beauty specialty retailer offline in India.
- The fashion segment showed slower growth, with only a 10% year on year increase in GMV, attributed to subdued demand in the first half of the year.
- There is ongoing pressure from elevated retailer-funded discounting in the beauty category, particularly from horizontal platforms.
- The cost of customer acquisition has increased, impacting marketing expenses.
- Despite improvements, the eB2B business remains EBITDA negative, affecting overall profitability.
- The company faces challenges in reviving growth in visits and conversions in the fashion segment, partly due to increased customer acquisition costs.
Hello, and good evening, everyone. This is Michelle from Chorus Call. Welcome to FSN E-Commerce Ventures Limited Q2 FY25 earnings call. From the management at Nykaa, we have Ms. Falguni Nayar, Executive Chairperson, MD and CEO; Mr. Anchit Nayar, Executive Director and CEO, Nykaa Beauty; Ms. Adwaita Nayar, Executive Director and CEO, Nykaa Fashion; Mr. Nihir Parikh, CEO, Nykafashion.com and Nykaa Man; Mr. Vishal Gupta, CEO, Nykaa Distribution; Mr. P. Ganesh, Chief Financial Officer.
Before we start, we would like to point out that some of the statements made in today's call may be forward-looking in nature, and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. Kindly note that this call is meant for investors and analysts only. By participating in this event, you consent to such recording, distribution, and publication. (Operator Instructions)
With that, over to you, Falguni ma'am, for opening remarks. Thank you.
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