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Nykaa’s Q1 FY26 net profit surged 79% YoY to Rs 24 crore, driven by beauty and fashion. Revenue rose 23% YoY to Rs 2,155 crore.
Shares of FSN E-Commerce Ventures Ltd, the parent company of Nykaa, are in focus today.
Nykaa Share Price: FSN E-Commerce Ventures Limited (Nykaa) shares are in focus today, August 13, following robust earnings in the first quarter of the financial year 2025-26. Nykaa’s net profit jumped 79 percent year-over-year to Rs 24 crore in Q1 FY26, driven by its beauty and fashion segments.
Revenue from operations rose 23% YoY to Rs. 2,155 Cr, indicating consistent growth momentum over several quarters.
EBITDA growth was even higher at 46% YoY, with EBITDA margin expanding to 6.5% from 5.5% in Q1 FY25. Net Profit growth was also strong at 79% YoY. The company continues to channel its strategic focus towards sustainable and profitable growth.
EBITDA margins expanded to 6.5% vs 5.5% in Q1 FY25
Nykaa’s Beauty vertical showed robust growth in Q1 FY26, with GMV increasing 26% YoY to Rs. 3,208 Cr. This was supported by a strong all-around performance across e-commerce, retail stores, eB2B distribution and House of Nykaa portfolio.
Platform growth was fueled by consistent focus on deepening penetration and premiumization, as is evident in strong new customer acquisition and improving AOV, respectively, as said in the filing.
Nykaa’s offline retail network continues to remain a key growth and premiumization driver, achieving a milestone of 250 beauty stores across 82 cities as of July 2025. Total retail space grew 36% YoY in Q1FY26 to 2.5 lakh+ sq. ft., supported by the rollout of larger-format experiential flagship stores.
Nykaa Fashion posted a robust performance in Q1 FY26, signaling a strong rebound in growth alongside notable profitability improvements. GMV grew 25% YoY to Rs. 964 Cr. EBITDA margin (as a percentage of NSV) improved significantly, narrowing from -9.2% in Q1 FY25 to -6.2% in Q1 FY26.
The core fashion platform saw a strong recovery, backed by enhanced customer engagement with 165 mn visits (30% YoY growth), an 8.5 mn-strong customer base (up 32% YoY), and over 2 mn orders (19% YoY growth).
The Board of Directors of FSN E-Commerce Ventures Limited (“Company”), at its meeting held on Tuesday, August 12, 2025 has approved acquisition of the balance 40% stake in Nudge Wellness Private Limited (“Nudge”) from the Promoter / Existing Shareholder viz., Onesto Labs Private Limited (“Onesto“), based on the pre-agreed terms in the Shareholders’ agreement dated 22 April 2022.
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Nuvama Institutional Equities said, “Nykaa sustained a strong momentum in its BPC segment while Fashion registered a pickup in growth this quarter. Management expects competitive intensity to ease up, supporting sustainable GMV growth.” The brokerage retained its ‘buy’ rating, with a price target of Rs 235 per share.
Nomura maintained its Neutral rating on Nykaa, raising the target price to Rs 223 from Rs 216, citing strong growth but margins lagging estimates. Annual unique transacting customers rose 26 percent year-on-year, while average order value grew 4 percent, driven by premiumisation, though demand trends remain mixed.
On the flip side, HDFC Securities maintained its ‘reduce’ call, with a price target of Rs 180, as the brokerage noted that valuations remained lofty.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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