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Nykaa is set to deliver a robust start to FY27, with parent company FSN E-Commerce Ventures projecting consolidated net revenue growth of around 30% year-on-year for the quarter ended June 2026, marking one of its strongest quarterly performances in recent years.
In its quarterly business update, the company said both Gross Merchandise Value (GMV) and Net Sales Value (NSV) are expected to register growth in the early thirties, driven by a sharp revival in the fashion business alongside sustained momentum in its core beauty segment.
The beauty vertical is projected to report NSV and net revenue growth in the late twenties. Nykaa attributed the performance to continued strength in its omnichannel beauty business, supported by healthy store expansion and steady customer acquisition. Its offline retail network expanded to 324 stores by the end of June, while owned brands such as Kay Beauty, Nykaa Cosmetics, and Dot & Key continued to deliver strong growth.
Meanwhile, the fashion business is expected to post NSV growth in the mid-fifties, reflecting a significant acceleration from previous quarters. The company credited the improvement to lower leakages between GMV and NSV, an expanded brand portfolio, and sustained marketing investments that boosted customer acquisition across women's, men's, kids', and home categories. Nykaa also noted that its partnership with Nike has delivered encouraging early traction, further strengthening its premium brand portfolio.
The latest business update signals a strong rebound in Nykaa's fashion business after a period of slower growth. Investors will now look to the company's detailed quarterly earnings for insights into margin expansion, profitability, and management's outlook for the remainder of FY27.
Following the update, Nykaa's shares were trading at ₹317.35 at 10:07 AM, valuing the company at a market capitalisation of ₹90,883 crore.
