Stockrabit · Analysts
Questions across 2 calls

Nihal Mahesh Jham

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FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited CC-May26.pdf · 2026-05-21
Yes, good evening. This is Nihal Jham from HSBC. Congratulations on the strong performance. I have 3 questions. The first was that what has driven the improvement in the fashion growth in '26? We've seen that the 15 has sort of jumped to more than 30 in this year. And this w e've managed while reducing marketing also. So if you could just give a landscape of both these elements?
Sure. Has competitive intensity also from certain platforms who are sort of similarly positioned abated this year in any way?
FSN E-Commerce Ventures Limited CC-Feb26.pdf · 2026-02-05
I just had one question, which was on the BPC margins. Historically, we've guided that given the investments we have been trying to make into this business that while giving a clear guidance sort of maintain that the margins will sort of remain at the 9% ballpark which we did in FY25 for the overall BPC? Given the kind of strong performance we've seen for the 9 months where we've already seen like 100 bps expansion in the gross margin and the advertising levers that Anchit mentioned about, is there a case that this can sort of structurally keep improving y ear-on-year? Just the thoughts on that?
Got it, Anchit. Just one follow -up that when you are highlighting the mix impact on gross margin, you basically mean within categories sold on beauty.com, which are accretive to gross margin, just to clarify?