Home / Markets / Stock Markets /  Nykaa's bonus shares issue decision to be taken in board meet today. Details inside

Nykaa's board will meet on Monday, October 3, 2022 to consider and approve the issue of bonus equity shares of the company. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

“We wish to inform you that a meeting of the Board of Directors of the Company will be held on Monday, October 03, 2022, to, interalia, consider and approve the issuance of Bonus Shares to the equity shareholders of the Company in the ratio, as it may deem fit and seeking shareholders’ approval by way of postal ballot and such other approval(s), as the Board may deem appropriate," Nykaa's parent FSN E-Commerce Ventures Ltd had informed in an exchange filing last week.

FSN E-Commerce Ventures (Nykaa) registered an over 33% growth in its consolidated net profit to 4.5 crore during the first quarter ending June 30, 2022 (Q1 FY23) as compared to a profit of 3.4 crore in the same quarter last year. Its consolidated revenue rose by 40% to 1,148 crore from 817 crore year-on-year (YoY). 

Nykaa's EBITDA during the quarter was up 71% YoY to 46 crore, while the EBITDA margin improved to 4% vs 3.3%. The gross profit margin improved 380 bps YoY during the April-June period. Further, gross merchandise volume (GMV) increased 47% from the year ago quarter to 2,155.8 crore in the first quarter of FY23.

Founded in 2012 by former investment banker Falguni Nayar, the company has a diverse portfolio of beauty, personnel care and fashion products, including its owned manufactured brand products under its two business verticals -- Nykaa and Nykaa Fashion. 

The company's shares got listed on stock exchanges BSE and NSE in November last year. The initial public offering (IPO) of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, was subscribed 81.78 times on the last day of subscription that closed on November 1, 2022, mainly helped by huge interest from institutional investors. Nykaa shares are down more than 39% in 2022 (YTD) so far, whereas is has declined about 46% since listing.

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