Nykaa’s parent company, FSN E‑Commerce Ventures, has projected a strong 20–25% growth in consolidated net revenue and mid-20s growth in GMV for the first quarter of FY26, highlighting a resilient performance across its beauty and fashion verticals despite external headwinds
1. 🔍 Beauty Leads the Way
- Beauty remains the growth engine, with higher mid-20s% GMV increase and mid-20s% net revenue growth, driven by online, offline, B2B, and ‘House of Nykaa’ brands
2. 👗 Fashion Bounces Back
- Fashion GMV grew in the mid-20s%, while net revenue rose in the mid-teens, signaling a sequential recovery backed by improved assortment and customer acquisition
3. ⚠️ Sale Impact & Geopolitical Pressure
- A dip in consumer sentiment during flagship sales—linked to Indo-Pak tensions—slightly affected performance, but overall growth remained robust
4. 🌐 Omnichannel & Brand Strategy Fuel Growth
- Growth was consistent across the e-commerce platform, 237+ retail stores, B2B channels, and private labels. Nykaa continues expanding its international portfolio and Nykaa Now express delivery in major metros
5. 📈 Market Response
- Following Q1 guidance, Nykaa shares rose ~2.5%, reflecting investor optimism. Brokerages like Morgan Stanley maintain an “overweight” rating; Nomura sees modest upside ndtvprofit.com.
6. 🏦 Strong Financial Track Record
- In Q4 FY25, Nykaa reported 23.6% YoY revenue growth, net profit doubling to ₹19 cr, and EBITDA margin improving to 6.5%—building momentum into Q1.
✅ Summary
Nykaa is poised for a mid-20% consolidated revenue jump in Q1 FY26, led by continued strength in beauty and a resurgence in fashion. Its broad omnichannel strategy, expanding private-label and delivery network, and resilient fundamentals have all reassured investors.
