Nykaa gains as Q2 business update signals strong growth across verticals
GMV refers to gross merchandise value before returns and cancellations. NSV refers to net sales value after returns, taxes, discounts and cancellations.
The Beauty vertical is expected to report NSV and net revenue growth in the late-twenties range. The company's omnichannel business continued to perform well, supported by new customer additions and repeat customer engagement. Nykaa added 14 net new stores during the quarter, taking its total store count to 338 as of 30 September 2026.
Like-for-like (LFL) store sales growth was in the early-twenties range, the highest in the last six quarters. LFL store sales measure growth at comparable existing stores and exclude the impact of newly opened outlets.
The House of Nykaa portfolio continued to grow faster than the overall Beauty vertical, supported by performance across core and emerging brands.
The Fashion vertical continued to scale, with NSV growth expected to be in the late-forties range and net revenue growth in the early-forties range. New customer acquisition remained a key growth driver, while more than 250 brands were added across categories during the quarter.
Nykaa said its partnership with Nike continued to gain traction, supported by exclusive product drops. The company noted that a larger portion of the festive season falls in Q3 this year, resulting in some festive-led growth shifting from Q2 to Q3.
The company said it remained confident about its underlying growth drivers and long-term growth objectives.
Nykaa journey began in 2012 as a digital-first, consumer tech beauty company. It has expanded its offerings to include fashion and B2B, launching platforms such as Nykaa Fashion, Nykaa Man, and Nykaa Superstore.
On a consolidated basis, the company's net profit surged 243.10% to Rs 80.01 crore while net sales rose 29.10% to Rs 2782 crore in Q1 June 2026 over Q1 June 2025.
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