Nykaa has reported robust financial performance for Q4 FY2026, with consolidated revenue growth reaching the late twenties, marking the company’s highest growth rate in the last 12 quarters. This acceleration was driven by strong momentum across both its Beauty and Fashion verticals. The company also achieved a record retail expansion, adding 26 new stores and integrating 11 Kiehl’s outlets during the quarter.
Financial Highlights
Nykaa has announced significant growth for the quarter ended March 31, 2026. The company expects consolidated GMV growth to be in the late twenties, while Net Sales Value (NSV) growth is anticipated to be even higher, in the early thirties. On a full-year basis for FY2026, consolidated NSV growth is projected to accelerate to the late twenties, reflecting a consistent upward trajectory compared to previous years.
Segment Performance
The Beauty vertical continues to perform strongly, delivering growth in the late twenties across GMV, NSV, and Net Revenue. Improvements in funnel conversion and the successful scaling of the House of Nykaa brands contributed significantly to this performance. Meanwhile, the Fashion vertical has seen a steady revival, with GMV growth of late twenties and NSV growth in the early forties. The Fashion segment’s net revenue growth accelerated to the late thirties, supported by successful events like the Pink Love Sale and the introduction of the Nike partnership.
Omnichannel Retail Expansion
Nykaa achieved a record-breaking quarter for its physical retail footprint. With 26 new store openings and the integration of 11 Kiehl’s stores, the total network count has reached 313 stores as of March 31, 2026. This expansion underscores the company’s commitment to an omnichannel strategy that complements its robust digital platform.
Geopolitical Outlook
Despite the evolving geopolitical landscape in West Asia, the company reports that there has been no material impact on operations this quarter. Business exposure in the Middle East remains in its early stages, currently accounting for below 1% of overall revenue.
Source: BSE
