Nykaa Projects Around 30% Revenue Growth In Q1 Fy27

FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, expects to report one of its strongest quarterly performances in recent years, with consolidated net revenue projected to grow close to 30% year-on-year in the quarter ended June 2026.

According to the company's quarterly business update, both Gross Merchandise Value (GMV) and Net Sales Value (NSV) are expected to grow in the early thirties, led by a sharp recovery in the fashion business and continued momentum in its core beauty segment.

According to the update, Nykaa's beauty vertical is expected to post NSV and net revenue growth in the late twenties. The company said its omnichannel beauty business continued the strong momentum seen in the previous quarter, aided by healthy store expansion and customer acquisition. 

Its offline network expanded to 324 stores as of June-end, while owned brands such as Kay Beauty, Nykaa Cosmetics and Dot & Key continued to witness rapid growth.

The fashion vertical is expected to record NSV growth in the mid-fifties, a sharp acceleration from previous quarters. The company attributed the improvement to lower leakages between GMV and NSV, wider brand assortment and sustained marketing investments that helped drive customer acquisition across women, men, kids and home categories. Its partnership with Nike also delivered encouraging early results, strengthening its premium brand portfolio.

The update indicates that Nykaa's fashion business is growing strongly again after slowing down over the past few quarters. Investors will now wait for the company's detailed quarterly results to see whether this growth has also helped improve margins and profits, and what the management expects for the rest of FY27. 

After the update, Nykaa’s share price is currently trading at Rs 317.35 (as of 10.07 AM) with a total market capitalization of Rs 90,883 crore.