Fsn E-commerce Ventures Ltd. · NSE:NYKAA
Fsn E-commerce Ventures — Q3 FY2025 Earnings Presentation
45 slides from Fsn E-commerce Ventures's earnings presentation, Feb 10, 2025
Slide 1: Regulation 30 Intimation: Investor Presentation
FSN E-Commerce Ventures Limited February 10, 2025 National Stock Exchange of India Limited BSE Limited Symbol: NYKAA Scrip Code: 543384 Dear Sirs, Subject: Investor Presentation We are enclosing the Investor Presentation for the quarter and nine months ended December 31, 2024, to be used by the Comp
Slide 2: Investor Presentation Quarter and Nine months ended December 31, 2024
Investor Presentation Quarter and Nine months ended December 31, 2024 FSN E-Commerce Ventures Limited 1
Slide 3: Table of Contents
Table of Contents 1 Performance Highlights 2 Beauty Multi Brand Retail 3 House of Nykaa 4 eB2B: Superstore by Nykaa 5 Fashion 6 Financial Performance 2
Slide 4: Performance Highlights
Performance Highlights NKAL
Slide 5: Q3FY25: Performance Snapshot
Q3FY25: Performance Snapshot Rs. 45,279 mn Rs. 22,672 mn GMV Revenue from Operations [25% YoY] [27% YoY] Gross Profit EBITDA PAT Rs. 9,911 mn Rs. 1,408 mn Rs. 264 mn +30% YoY +42% YoY +51% YoY 4
Slide 6: Q3FY25: Beauty growth accelerating, while Fashion remains resilient
Q3FY25: Beauty growth accelerating, while Fashion remains resilient Beauty Fashion 32% YoY 30% YoY 8% YoY 10% YoY 87,161 27,673 67,163 25,094 GMV 33,899 (Rs mn) 25,696 10,465 11,299 Q3FY24 Q3FY25 9MFY24 9MFY25 Q3FY24 Q3FY25 9MFY24 9MFY25 27% YoY 25% YoY 21% YoY 21% YoY 53,564 5,137 42,906 4,230 Reve
Slide 7: One Nykaa: Key Highlights for the quarter
One Nykaa: Key Highlights for the quarter Customers Beauty Stores Quicker Delivery Highest brands launched Content led education Launched 200+ beauty brands and 270+ Fashion brands ~40 mn 221 Cumulative Customer Stores 70% Base Largest beauty retail of Beauty orders delivered network in India within
Slide 8: Beauty Multi Brand Retail
Beauty Multi Brand Retail 7
Slide 9: Beauty accelerated growth momentum
Beauty accelerated growth momentum GMV (Rs mn) YoY Growth (%) 40,000 34% 35% 32% 29% 30% 35,000 33,899 27% 28% 25% 30,000 27,833 20% 25,696 25,429 25,000 23,390 15% 20,000 10% 15,000 5% 10,000 0% Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 8 * Q3FY25 Annualized GMV
Slide 10: Acceleration in customer acquisition and retention
Acceleration in customer acquisition and retention AUTC - Beauty (mn) 15.0 26% YoY 42% 14.8 14.0 22% YoY 37% 21% YoY 13.7 32% 13.0 19% YoY 13.1 27% 12.0 17% YoY 12.4 22% 11.7 11.0 17% 10.0 12% 9.0 7% Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 AUTC includes unique B2C customers across Nykaa, Retail, Nykaa Ma
Slide 11: Nykaa's Flagship Pink Friday Sale delivered 36% YoY
Nykaa’s Flagship Pink Friday Sale delivered 36% YoY On-Platform Initiatives Best price on PLPs Express checkout Personalized Widgets 36% YoY GMV Off Platform Content Growth OOH Front Page Spotify Zomato 86 Mn Visits New Customers 55% Over 10 days growth Strong Conversion 30 Mn Unique Visits at >4%
Slide 12: New Brand Launches – Expanding our offerings across categories
New Brand Launches – Expanding our offerings across categories 200 Most of brands below are in Top 100 on the platform [only on Nykaa] Brands launched in Q3FY25 [only on Nykaa] 13 *based on Jan’25 GMV
Slide 13: Nykaa Wali Shaadi: India's go to destination for all things wedding
Nykaa Wali Shaadi: India’s go to destination for all things wedding $130 bn 360o degree campaign to own every bridal beauty moment and make Nykaa synonymous with 250 mn Social reach Indian wedding market size in 2024 every beauty needs of brides, bridesmaids, families and friends [2nd largest market
Slide 14: © HT pA! | /
© HT pA! | /
Slide 15: — a f + oO S
— a f + oO S
Slide 16: Nykaa remains the largest specialized beauty omnichannel retailer
Nykaa remains the largest specialized beauty omnichannel retailer 221 Total stores 9% [added 47 stores in a Contribution to year] omnichannel [12 stores in Q3FY25] Beauty GMV* 2.1 lacs sq. ft 73 Total retail space cities [31% YoY] Destination for premium Financial beauty brands Performance 90 34% Yo
Slide 17: 12 new stores launched and 3 new cities in Q3FY25
12 new stores launched and 3 new cities in Q3FY25 – Agartala, Mohali and Belgaum Nykaa Luxe City Centre Raipur Nykaa Luxe Chandivali Nykaa Luxe Connaught Place Nykaa On Trend Elan Miracle Gurgaon Nykaa On Trend HLP Mohali Nykaa Luxe Hilite Thrissur
Slide 18: 6 flagship stores across India, and more to come
Elevating offline beauty experience with flagship store launches 6 flagship stores across India, and more to come [including store at Phoenix Palladium (Mumbai) and Linking Road (Mumbai) and Connaught Place (New Delhi) and more] 80+ Marquee Brands Shop-in-Shop for Brands Bouquet of Gifting and Skin
Slide 19: House of Nykaa
House of Nykaa FASHION 18
Slide 20: House of Nykaa - Beauty: Rs 19,000 mn annualized GMV run rate
House of Nykaa - Beauty: Rs 19,000 mn annualized GMV run rate GMV of House of Nykaa - Beauty GMV Channel Mix (Rs mn) 49% YoY1 19% 4,686 Rs Q3FY25 4,686 51% 17% mn 3,152 13% Nykaa Online 2,247 Nykaa Stores 1,746 GT/MT (including eB2B) 13% Other Platforms2 Rs Q3FY24 21% 3,152 mn 53% Q3FY22 Q3FY23 Q3FY
Slide 21: Bollywood's rising star Rasha Thadani - new face of Nykaa Cosmetics
Bollywood’s rising star Rasha Thadani - new face of Nykaa Cosmetics Rasha Thadani X Nykaa Cosmetics Among Top 5 colour cosmetic brands On Nykaa Strong Offline presence 221 11,600+ 200 Nykaa Stores Selective doors cities GMV (Rs mn) 2x 4,400+ 2,640 Q3FY22 Ann. Q3FY25 Ann. 20
Slide 22: Dot & Key: One of India's biggest D2C acquisition success stories
Dot & Key: One of India’s biggest D2C acquisition success stories Amongst the Rs 9,000 mn NSV Run Rate (Rs mn) top skincare brands Ann. GMV run rate in the country (Q3FY25) 5,100+ Strong growth across large categories Scaled 15x in 3 years Sunscreen Moisturizer Face Wash 351 Q3FY22 Ann. Q3FY25 Ann.
Slide 23: Kay Beauty: Celebrates its journey
Kay Beauty: Celebrates its 5 years journey India’s largest Celebrity Beauty Brand in partnership with Katrina Kaif Strong Offline presence 221 520+ 150+ Nykaa Stores Selective doors cities GMV (Rs mn) Launched in Oct-20 4x 3,300+ 957 Q3FY22 Ann. Q3FY25 Ann. 22
Slide 24: House of Nykaa - Fashion: Rs 4,800 mn annualized GMV run rate
House of Nykaa - Fashion: Rs 4,800 mn annualized GMV run rate GMV of House of Nykaa - Fashion GMV Channel Mix (Rs mn) 2% YoY 1,174 1,200 17% 902 Rs Q3FY25 14% 1,200 mn 4% 65% Nykaa Online 406 Nykaa Stores (Nykd EBOs) GT/MT Q3FY22 Q3FY23 Q3FY24 Q3FY25 18% Other Platforms2 3x growth Q3FY24 Rs in 3 yrs
Slide 25: House of Nykaa - Fashion: Key Collaborations
House of Nykaa - Fashion: Key Collaborations X X by Mohit Rai 24
Slide 26: eB2B: Superstore by Nykaa
eB2B: Superstore by Nykaa 23 25
Slide 27: Superstore – achieved Rs. 10,000 mn annualized run rate in 3 years
Superstore – achieved a milestone of Rs. 10,000 mn annualized run rate in 3 years GMV (Rs mn) Cumulative Transacting Retailers (‘000) 53% YoY 52% YoY 2,597 256 1,700 169 1,012 96 214 19 Q4FY22 Q3FY23 Q3FY24 Q3FY25 Q4FY22 Q3FY23 Q3FY24 Q3FY25 Cities 300+ 650+ 950+ ~1,100 12x growth 14x growth in 3 yr
Slide 28: Contribution Margin improvement of 509 bps YoY
Sales mix, scale and efficiencies leading to unit economics improvement Gross Margin* Fulfilment Cost* Selling & Distribution Cost* 244 bps 126 bps 141 bps Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 • Higher Ad-Income • Moving from 3P to owned warehouses • Improving BDE Productivity • Increasing shar
Slide 29: Fashion
Fashion FASHION 26
Slide 30: Fashion growth remains resilient in a tough macro environment
Fashion growth remains resilient in a tough macro environment GMV (Rs mn) Revenue (Rs mn) 8% YoY 21% YoY 11,299 10,465 1,990 1,640 7,694 1,339 5,102 900 Q3FY22 Q3FY23 Q3FY24 Q3FY25 Q3FY22 Q3FY23 Q3FY24 Q3FY25 2x+ growth 2x+ growth in 3 yrs in 3 yrs Revenue growth higher than GMV growth in Q3, driven
Slide 31: Curated assortment - Bringing best in global and local fashion
Curated assortment - Bringing best in global and local fashion Brand Count 1,400+ 2,700+ 4,000+ Brands onboarded Q3FY22 Q3FY25 Women Women Men Kids Home Indian Wear Western wear 530+ brands 780+ brands 280+ brands 190+ brands 240+ brands onboarded onboarded onboarded onboarded onboarded Preferred pl
Slide 32: Nykaa X LBB: LBB has scaled 9x in revenue since acquisition
Nykaa X LBB: LBB has scaled 9x in revenue since acquisition STAY STYLISH 29
Slide 33: Focus on improving profitability
Focus on improving profitability Q3FY25 Q3FY24 Fashion Vertical (as % of NSV) (as % of NSV) YoY Change Driving factors Marketing and services Gross Margin 51.3% 43.9% 737 bps related income Shift from air to land Fulfilment expenses 10.0% 11.0% 93 bps shipment, saving on packaging cost Marketing e
Slide 34: Financial Performance
Financial Performance NIA 33
Slide 35: Strong growth in topline and profitability
Strong growth in topline and profitability Revenue (Rs mn) EBITDA (Rs mn) 27% YoY 42% YoY 27% CAGR 22,672 27% CAGR 1,408 17,888 988 782 14,628 690 10,984 Q3FY22 Q3FY23 Q3FY24 Q3FY25 Q3FY22 Q3FY23 Q3FY24 Q3FY25 34
Slide 36: Profit and Loss Statement
Profit and Loss Statement All amounts in Rs mn, unless otherwise stated Particulars Q3FY25 Q3FY24 YoY 9MFY25 9MFY24 YoY Revenue from Operations 22,672 17,888 27% 58,881 47,176 25% Gross Profit 9,911 7,607 30% 25,681 20,290 27% Gross Margin 43.7% 42.5% 119 bps 43.6% 43.0% 61 bps Fulfilment expenses 2
Slide 37: Quarterly Vertical Performance: Business Wise
Quarterly Vertical Performance: Business Wise (All amounts in Rs mn, unless otherwise stated) Q3FY25 Q2FY25 Q3FY24 Particulars Beauty Fashion Total1 Beauty Fashion Total1 Beauty Fashion Total1 GMV 33,899 11,299 45,279 27,833 8,633 36,525 25,696 10,465 36,179 Growth 32% 8% 25% 29% 10% 24% 27% 36% 29%
Slide 38: EBITDA margin expansion of 69 bps YoY
EBITDA margin expansion of 69 bps YoY Q3FY25 43.7% 9.2% 13.3% 2.6% 12.3% Margin (as % of revenue) Q3FY24 42.5% 9.6% 12.2% 2.4% 12.9% 38 bps -115 bps 119 bps 51 bps 6.2% 5.5% -25 bps Q3FY24 EBITDA Margin Gross Profit Fulfilment expense Marketing expense S&D expense Other expenses* Q3FY25 EBITDA Margi
Slide 39: Focus on capital efficiency, resulting in consistent ROCE improvement
Focus on capital efficiency, resulting in consistent ROCE improvement Fixed Asset Turnover (x) Working Capital Days (#) ROCE (%) 9.4 44 10.5% 9.1 42 7.5% 7.0 6.6% 36 FY23 FY24 9MFY25 FY23 FY24 9MFY25 FY23 FY24 9MFY25 Working capital days is computed on Revenue from Operations ROCE is calculated by d
Slide 40: Thank you
Thank you 39
Slide 41: Glossary
Glossary Term Description Unique customers identified by their email-id or mobile number who have placed at least one Order on our websites, mobile applications or physical stores during the last 12 months ended as on measurement date. Annual Transacting Customers, with respect to beauty and persona
Slide 42: Disclaimer
Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by FSN E-Commerce Ventures Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of
Slide 43: Profit & Loss Statement
Profit & Loss Statement (All amounts in Rs mn, unless otherwise stated) Quarter Ended Nine months ended Particulars Dec-24 Dec-23 Sep-24 YoY Growth QoQ Growth Dec-24 Dec-23 YoY Growth Revenue from Operations 22,672 17,888 18,747 27% 21% 58,881 47,176 25% Cost of goods Sold 12,761 10,280 10,537 24% 2
Slide 44: 9M Vertical Performance: Business Wise
9M Vertical Performance: Business Wise (All amounts in Rs mn, unless otherwise stated) 9M FY25 9M FY24 Particulars Beauty Fashion Total4 Beauty Fashion Total4 GMV 87,161 27,673 1,15,014 67,163 25,094 92,289 Growth 30% 10% 25% 26% 26% 26% NSV 49,175 8,458 57,808 39,641 7,400 47,066 Growth 24% 14% 23%
Slide 45: Key Operational Metrics
Key Operational Metrics Particulars Unit Q3FY25 Q3FY24 YoY Visits Beauty mn 401 311 29% Fashion mn 169 157 7% Orders Beauty mn 15.0 11.6 30% Fashion mn 2.1 2.1 0% AOV Beauty Rs 2,127 2,121 0% Fashion Rs 4,901 4,681 5% AUTC Beauty mn 14.8 11.7 26% Fashion mn 3.1 2.9 4% 44
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