E-Commerce Stocks and Companies in India

The largest E-Commerce stocks in India by market value are Lenskart Solutions (₹1.26 lakh crore), Meesho (₹1.08 lakh crore) and Nykaa (₹1.01 lakh crore), at prices of 6 Nov 2026.

• Lenskart Solutions: ₹724.75 | market value ₹1.26 lakh crore | P/E 160.4
• Meesho: ₹233.48 | market value ₹1.08 lakh crore
• Nykaa: ₹353 | market value ₹1.01 lakh crore | P/E 305.3
• Honasa Consumer: ₹466.40 | market value ₹15,217 crore | P/E 60.3
• GNG Electronics: ₹584.35 | market value ₹6,662 crore | P/E 40.1
• Brainbees Solutions: ₹159.61 | market value ₹8,333 crore

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 6 listed Indian New age - Platform - E-Retail companies are named here, largest first. This is the set of companies people mean when they search for a Nifty New age - Platform - E-Retail index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one.

1. Lenskart Solutions Ltd₹1.2 lakh cr
2. Meesho Ltd₹1.1 lakh cr
3. FSN E-Commerce Ventures Ltd₹1 lakh cr
4. Honasa Consumer Ltd₹15,700 cr
5. GNG Electronics Ltd₹8,320 cr
6. Brainbees Solutions Ltd₹8,240 cr

6 E-Commerce companies in the New age - Platform - E-Retail industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 6 are listed below, largest first. The largest is Lenskart Solutions (₹1.25 lakh crore) and the smallest with a market value is Brainbees Solutions.

Download all 6 E-Commerce companies (CSV)

The line below covers up to 5 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 29% ahead of NIFTY 500. Earnings across its companies grew 129% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 40 weeks running.

Price and the fundamentals both up. 5 of 6 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 40 weeks running; 5 of the 6 companies in the industry index above their 200-day average (no change from four weeks earlier); 5 of those 6 pass the momentum test (1 more than four weeks earlier); earnings rising at 5 of the 6 that report earnings.

Ahead of NIFTY 500 for 40 weeks running and +52.0% over a year, with 4 → 5 of 6 stocks participating. Earnings confirming, 5 of 6 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 6 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

New age - Platform - E-Retail has done better than the NIFTY 500 by 44.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 16.1%. GNG Electronics Ltd is the strongest against the sector itself at +24.4%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 21.2 as of 30 October 2026 (consolidation, falling).

New age - Platform - E-Retail has done better than the NIFTY 500 by 44.2% over 52 weeks and by 16.1% over 13 weeks. 3 of 6 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (2 have no relative-strength reading yet), and 3 of the 4 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

GNG Electronics Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 80% evidence confidence.

GNG Electronics Ltd has the strongest one-year price move in New age - Platform - E-Retail at +96.9%. It also leads on relative strength against the NIFTY, at +50.4%. 3 of 6 companies we track are ahead of the index on that measure (2 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against New age - Platform - E-Retail itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

A breakout already several months old, supported by improving operations but limited by short and inconsistent industry history. In the week of 5 October 2026, 75% of 6 New age - Platform - E-Retail companies were beating the Nifty 500, against 66.7% on 25 May 2026.

New age - Platform - E-Retail is one of the Top 25 sectors in our latest review.

From our industry review of 10 October 2026.

Nykaa and Lenskart describe lasting efficiency gains; FirstCry faces margin pressure, while Meesho intends to give future savings to customers rather than keep all of them as profit.

From our industry review of 10 October 2026.

2 of 7 New age - Platform - E-Retail companies held a results call for July to September 2026. Meesho guided: FY27 contribution margin substantially better than FY26, restoring lost logistics spread to about FY25 level.

From the results calls for July to September 2026.

Big funds, foreign and Indian, raised their stake by 6.3 points over the last two quarters. Founders and promoters cut theirs by 0.9 points.

• Spending on new plants and equipment was ₹3,128 crore in the last 12 months, 33% less than a year before.
• Projects still being built shrank 7% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 6 New age - Platform - E-Retail companies, in percentage points.

Ownership and spending as of 10 October 2026.

2 chains of cause and effect link New age - Platform - E-Retail to other industries right now. Gold duty gains can hide weaker recurring retail profits. For New age - Platform - E-Retail: Nykaa's own-brand improvement offers a separate recurring-profit comparison, without proven spending transfers from jewellery.

From our cross-industry review of 10 October 2026.

The next things that show whether the New age - Platform - E-Retail story is on course. First: Nykaa's next report: whether Fashion remains profitable and faster delivery expands without margin dilution.

• FirstCry's third-quarter FY27 report: whether promised raw-material cost recovery reaches margins.
• Meesho's combined second- and third-quarter growth and delivery-cost performance as festive timing changes.
• GNG's next report: whether debt and inventory stabilize and margin disclosures reconcile.

What would change the story

A next full-quarter combined loss alongside an operating margin below the June 2025 level of 3.48%, despite revenue remaining above that quarter's ₹9,323 crore, would break the call: growth would again be failing to cover costs rather than sustaining the profit turn.

From our industry review of 10 October 2026.

Meesho Ltd has the highest Revenue among the 6 New age - Platform - E-Retail companies compared here, at ₹14,894 crore. FSN E-Commerce Ventures Ltd is next at ₹11,309 crore. Lenskart Solutions Ltd has the highest Revenue growth at 40.6%, so level and change sit with different companies. Its Revenue series carries 10 reported observations across the 20-quarter window.

What the numbers say: Meesho Ltd is the largest at ₹14,894 crore, 31.7% ahead of FSN E-Commerce Ventures Ltd. Lenskart Solutions Ltd's growth is 40.6% from a ₹10,383 crore base, with 10 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Meesho Ltd is the size to compare against; Lenskart Solutions Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Meesho Ltd's growth falls below Lenskart Solutions Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Lenskart Solutions Ltd has the highest OPM among the 6 New age - Platform - E-Retail companies compared here, at 22%. GNG Electronics Ltd is next at 15%. Meesho Ltd has the highest Margin change at +9 percentage points, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Lenskart Solutions Ltd leads opm at 22%; Meesho Ltd leads margin change at +9 percentage points.

What this means: Lenskart Solutions Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Lenskart Solutions Ltd has the highest Net profit among the 6 New age - Platform - E-Retail companies compared here, at ₹797 crore. FSN E-Commerce Ventures Ltd is next at ₹328 crore. Honasa Consumer Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Lenskart Solutions Ltd earns the most, ₹797 crore of profit over the last 12 months, 143% above FSN E-Commerce Ventures Ltd. Honasa Consumer Ltd shows at least 100% on the scoring scale (239.7% in full) growth from a profit base of ₹248 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Lenskart Solutions Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

GNG Electronics Ltd has the highest ROCE among the 6 New age - Platform - E-Retail companies compared here, at 20.2%. Honasa Consumer Ltd is next at 19.2%. Meesho Ltd has the highest ROCE change at +85.1 percentage points, so level and change sit with different companies. 6 of 6 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: GNG Electronics Ltd leads ROCE at 20.2%, 1 percentage points above Honasa Consumer Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: GNG Electronics Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: FSN E-Commerce Ventures Ltd (NYKAA): its two data sources disagree by up to 28% on reported income across 16 comparable periods, so its derived ratios are withheld; Brainbees Solutions Ltd (FIRSTCRY): its two data sources disagree by up to 48% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Honasa Consumer Ltd has the lowest PEG among the 6 New age - Platform - E-Retail companies compared here, at 2.33×. Lenskart Solutions Ltd is next at 3.17×. GNG Electronics Ltd has the lowest P/E at 50.1×, so level and change sit with different companies. 2 of 6 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Honasa Consumer Ltd has the lowest comparable PEG at 2.33×, 26.5% below Lenskart Solutions Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

Withheld from this chart: Brainbees Solutions Ltd (FIRSTCRY): its two data sources disagree by up to 48% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

New age - Platform - E-Retail companies show up on 5 of our India lists. The most are on the momentum stocks list (5 companies).

This New age - Platform - E-Retail comparison names 6 specific ways its own evidence can mislead, all listed below. All 6 companies here report on comparable dates, so no rank carries a stale marker. 2 have second-source figures left out because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 2 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 6 New age - Platform - E-Retail companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

2 of 6 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: FSN E-Commerce Ventures Ltd (NYKAA): its two data sources disagree by up to 28% on reported income across 16 comparable periods, so its derived ratios are withheld; Brainbees Solutions Ltd (FIRSTCRY): its two data sources disagree by up to 48% on reported income across 13 comparable periods, so its derived ratios are withheld.

These 23 answers restate the New age - Platform - E-Retail comparison above in question form. Every one is computed from the same 6 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.