Nykaa anticipates strong Q3 FY2026 results, with consolidated GMV and NSV growth expected in the late twenties. Beauty vertical growth accelerates to the late twenties, the highest in six quarters, driven by strong seasonal demand and new customer acquisition. The Fashion vertical is expected to continue its growth, achieving NSV growth in the mid-twenties. Overall, Nykaa expects consolidated net revenue growth in the upper end of mid-twenties.
Q3 FY2026 Revenue Update
Nykaa anticipates robust growth in Q3 FY2026, fueled by strong performance in both its Beauty and Fashion verticals. Consolidated GMV and NSV growth are projected to be in the late twenties. Net Revenue growth for the quarter is expected to be in the upper end of mid-twenties, reflecting a slight acceleration from previous quarters.
Beauty Vertical Performance
The Beauty vertical is expected to deliver accelerated NSV growth in the late twenties, marking its strongest performance in the last six quarters. This growth is attributed to a seasonally strong quarter, making it the largest quarter to date in terms of absolute scale, along with the success of the Pink Friday sale and robust customer acquisition.
Beauty vertical’s Net Revenue growth is expected to be in the upper end of mid-twenties.
Fashion Vertical Performance
The Fashion vertical is expected to continue its revived growth trajectory, with NSV growth in the mid-twenties for Q3 FY2026. This growth is supported by core platform performance, new brand additions, and customer acquisition.
Net revenue growth for the Fashion vertical is expected to be in the late teens in Q3 FY2026, primarily due to subdued content and marketing income, as well as ongoing channel optimization of fashion owned brands.
Source: BSE
