FSN E-Commerce Ventures (Nykaa) announced strong Q2 FY26 results, demonstrating robust growth and improved profitability. GMV grew by 30% year-over-year, reaching INR 4,744 crores. Net revenue increased by 25% to INR 2,346 crores. EBITDA reached INR 159 crores with a margin of 6.8%, the highest since IPO. PAT came in at INR 33 crores, showcasing a 154% year-over-year increase.
Financial Highlights
FSN E-Commerce Ventures (Nykaa) reported a strong performance for Q2 FY26, marked by significant growth and improved profitability:
- GMV: Increased by 30% year-over-year to INR 4,744 crores, the highest in the last 6 quarters.
- Net Revenue: Grew by 25% year-over-year to INR 2,346 crores.
- Gross Profit: Reached INR 1,054 crores, representing a 44.9% margin and a 28% increase year-over-year.
- EBITDA: Stood at INR 159 crores, with a margin of 6.8%, a 53% year-over-year increase and the highest since IPO.
- PAT: Reached INR 33 crores, a 154% year-over-year increase.
Beauty Business Performance
The beauty segment continued its robust growth:
- NSV: Reached INR 1,981 crores for the quarter, a 27% year-over-year increase.
- EBITDA Margin: Improved to 9.0%, up from 8.6% a year ago.
Fashion Business Performance
The fashion segment showed a strong revival:
- GMV: Reached INR 1,180 crores, a 37% year-over-year increase.
- NSV: Grew by 27% year-over-year to INR 346 crores.
- EBITDA: Improved to minus 3.5%, compared to minus 9.0% a year ago.
Key Business Updates
- Customer Base: Reached 49 million, a 32% year-over-year increase.
- Retail Expansion: Added 19 stores, bringing the total to 265 stores across 90 cities.
- Nykaa Now: Expanded to 53 stores across 7 cities, enabling hyperlocal delivery.
- Brand Partnerships: Launched new international brands and continued focus on Korean Beauty.
House of Nykaa Brands
- Annualized GMV run rate of INR 2,900 crores, growing at 54% year-on-year.
- Beauty brands contributed over 75% of the INR 2,900 crores GMV.
- Key brands like Dot & Key, Nykaa Cosmetics, and Kay Beauty showed strong performance.
Superstore Business (eB2B)
- Transacting retailers increased by 41%.
- Orders grew 42% year-on-year.
- EBITDA margin improved by 422 bps.
Fashion Initiatives
- Addition of marquee brands like H&M, GAP, and GUESS.
- Focus on trend-based shopping through Nykaa Fashion Edit.
Source: BSE
