FSN E-Commerce Ventures Limited (Nykaa) announced its FY26 financial results, marking a historic milestone as the company crossed Rs 10,000 crore in revenue. The organization achieved robust growth across all verticals, with GMV rising by 28% to Rs 19,963 crore. Profitability saw a significant boost, with PAT growing 183% annually. The company’s expansion strategy, including the addition of 76 new stores, continues to drive market leadership in the beauty and fashion sectors.
Record Financial Milestones
For the fiscal year ended March 31, 2026, Nykaa achieved a landmark revenue of Rs 10,022 crore, representing a 26% year-on-year increase. The company’s overall GMV reached Rs 19,963 crore, maintaining a steady 28% growth trajectory. Profitability reached new heights with the highest ever EBITDA margin of 7.5% and a PAT of Rs 204 crore, reflecting a massive 183% improvement over the previous year.
Q4 Performance Acceleration
The fourth quarter (Jan-Mar 2026) demonstrated strong momentum, with a net revenue of Rs 2,648 crore and a 28% YoY growth. Profitability metrics surged, with PAT climbing to Rs 79 crore, a 313% increase compared to the same period in the previous year. This performance was underpinned by operational efficiencies, with the company achieving its highest-ever EBITDA margin of 8.4% for the quarter.
Strategic Retail and Brand Expansion
Nykaa continued its aggressive retail expansion, opening 76 new stores in FY26, bringing the total footprint to 313 stores across 99 cities. The ‘House of Nykaa’ portfolio remains a core growth driver, generating Rs 3,176 crore in GMV, a 49% jump YoY. Key brands such as Dot & Key and Kay Beauty have seen massive scale, with the latter successfully entering international markets via Space NK in the UK.
Operational Efficiency and Future Outlook
The company continues to prioritize capital efficiency, reflected in its ROCE, which improved to 21.2% in FY26. Furthermore, the eB2B division, Superstore by Nykaa, saw substantial scale-up, adding 1.3 lakh retailers in a single year to reach a total of 493,000 onboarded retailers. Through strategic investments in fulfillment capabilities and technology, Nykaa remains focused on scaling high-growth verticals while maintaining sustainable long-term profitability.
Source: BSE
