Stockrabit · Analysts
Questions across 2 calls

Vijit Jain

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FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited CC-Feb26.pdf · 2026-02-05
Apologies for earlier. My first question is, Anchit, last time, I think you had mentioned that with the India-U.K. trade deal, there were going to be some moderate amount of benefits to the extent that you import from there. Now of course, India has done a lot of these free trade agreements, U.S, EU and you guys have a significant contribution of imports in your business. So just wanted to get you guys a sense on how these play into your business going forward in the next 1 to 2 years. That's my first question?
Got it. And just to be clear, Anchit, this would be, you should benefit from the EU deal as well, right? Because they would be a key source of import for you as well?
FSN E-Commerce Ventures Limited CC-Jun24.pdf · 2024-08-13
My first question is just for comparison, so just wondering in the Beauty business, what the contribution margins would have been like in the earlier reporting. I mean, there's a 20-bps odd Y-o-Y decline in EBITDA margins and contribution margins also down 150, I imagine most of it has to do with B2B, right, because B2B is obviously growing faster than B2C. That's my first question. Just for comparison's sake, what would it have been?
And my next question is just looking at the house of brands slide, right, on both beauty and fashion. So beauty is obviously growing very well on the house of brands side, 47% Y -o-Y, whereas fashion is down a little bit. So, a, my question is, is fashion down mainly because of the Indian wear the point you mentioned earlier on and the innerwear is doing relatively better. So we should read into it in that context. And within the beauty, the 47% Y -o-Y and the channel mix overall for the BPC business, just looking at the Y-o-Y chart looks a little interesting. So if you could explain what is happening there? I mean, I can see the Nykaa stores, for example, is down meaningfully in terms of channel mix for owned brands. and others is meaningfully up. So, I'm just trying to get a sense of really what is happening there for the owned brand part.