Date: August 25, 2026

Financial Results (Standalone & Consolidated)

FY26 Financial Performance:

  • Revenue crossed ₹10,000 crore milestone, growing 26% year-over-year
  • EBITDA grew 59% to ₹752 crore, with margins expanding from 6% to 7.5%
  • PAT nearly tripled to ₹204 crore, with PAT margin doubling to 2%
  • Fixed asset turnover improved to 9.9 times
  • Working capital days reduced from 34 to 28 days
  • ROCE doubled from 11.3% to 21.2% in one year
  • Net debt reduced by 47%

Five-Year Financial Performance (FY21-FY26):

  • Overall revenue grew 4 times to over ₹10,000 crore
  • EBITDA grew 5 times to ₹752 crore
  • Cumulative customer base grew nearly 5 times to 55 million
  • Revenue per employee more than doubled from ₹1.2 crore to ₹2.5 crore

Business Segment Performance

Beauty Vertical:

  • NSV grew 4 times to over ₹8,500 crore over five years
  • GMV reached approximately ₹15,000 crore
  • Cumulative base of 45 million customers
  • Offers more than 4,500 brands
  • Partner with every major global beauty group including L'Oréal, Estée Lauder, Unilever, LVMH, P&G, Puig and Beiersdorf
  • Launched more than 200 new brands in FY26

Fashion Vertical:

  • NSV grew 6 times to nearly ₹1,450 crore over five years
  • GMV reached approximately ₹5,000 crore in FY26
  • EBITDA margins improved from negative 11.3% to negative 2.6% over five years
  • Achieved EBITDA breakeven in Q4 FY26
  • Serves 11 million customers with assortment of over 5,500 brands
  • Launched 1,280 new brands in FY26 including H&M, Nike, GUESS, Lacoste and GAP Kids
  • Now manages Nike's official digital commerce platforms in India (Nike.in and Nike App)

House of Nykaa:

  • Portfolio of 12 consumer brands across beauty and fashion
  • GMV scaled 8 times to approximately ₹3,200 crore over five years
  • NSV grew 7 times to nearly ₹1,900 crore
  • Established brands include Nykaa Cosmetics, Kay Beauty, and Dot & Key
  • Emerging brands include Nykaa Wanderlust, Maison de Moi, and Earth Rhythm
  • New launches contributed around 25% of FY26 GMV for Nykaa Cosmetics and Kay Beauty
  • Dot & Key introduced 20 new products during FY26

Superstore by Nykaa (eB2B):

  • GMV grew nearly 4 times in three years to ₹1,200 crore in FY26
  • EBITDA margins improved by 3,500 basis points over last three years
  • Serves nearly 5 lakh retailers across approximately 1,200 cities
  • Works with over 220 leading brands, with 50 new brands added in FY26

Nysaa (GCC Business):

  • Operates in $25 billion GCC BPC market
  • Established six stores and B2C online platform
  • Online contributes approximately 25% of GMV
  • Currently contributes less than 1% of Nykaa's overall revenue

Operational Highlights

Physical Expansion:

  • Beauty store network expanded to 313 stores across 99 cities (from just over 100 stores four years ago)
  • Warehouse network scaled to 44 warehouses
  • New retail formats launched in FY26: Nykaa Perfumery, exclusive brand outlets (Kiehl's, Charlotte Tilbury), Kay Kafe, House of Nykaa store

Digital Initiatives:

  • Nykaa Now rapid delivery service offers over 1,000 brands with delivery in 30-60 minutes
  • Expanded to top 13 cities, planned expansion to over 25 cities by year-end
  • Ambition for 90% of orders across 19,000 pin codes to be delivered same day or next day by FY30

Technology & AI:

  • Ask Nykaa: Digital beauty advisor through natural conversations
  • Virtual Closet: Virtual avatars and try-on for fashion
  • Skin Scan tool: Personalized skincare recommendations
  • Virtual make-up try-ons and Foundation Finder for shade matching
  • AI embedded across all functions including creative, catalogue management, marketing, supply chain, customer service, HR and legal

Market Context:

  • India GDP doubled from $2 trillion in FY16 to $4 trillion in FY26, projected to reach $10 trillion by FY36
  • Discretionary spend now 53% of India's retail market (up from 35% a decade ago), expected to reach 60-62% by FY36
  • Beauty and Fashion expected to grow at 12% plus over next decade
  • Core target households expected to nearly double from 60 million to 110 million over next decade
  • India BPC market projected to reach $42 billion by FY31 (4th largest globally)
  • India Fashion market set to grow to $160 billion by FY31 (3rd largest globally)
  • Online premium fashion market expected to grow at 26-28% CAGR from $3 billion to $9 billion by FY31

FY30 Vision and Guidance

  • Scale overall GMV by 2.5 to 3 times by FY30 from FY26 levels
  • Grow EBITDA by 4 to 5 times by FY30 from ₹752 crore in FY26
  • Target EBITDA margins in early-to-mid teens (from 7.5% in FY26)
  • Target ROCE of 40%+
  • Growth drivers: Core Beauty platform, expanding store network, Superstore, Nykaa Fashion, and House of Nykaa

ESG Initiatives

Employment & Ecosystem:

  • Direct employment for over 15,000 people
  • Supports extended ecosystem including D2C brand owners, beauty creators, independent beauty professionals, vendors, suppliers, retailers

Sustainability:

  • 85% of orders shipped using sustainable packaging
  • Increasing use of renewable energy across operations
  • Recycled 1100+ metric tonnes of waste in FY26
  • Completely paperless order processing
  • Superstore reuses packaging materials
  • House of Nykaa warehouses use 100% reused corrugated boxes
  • Nykaa Recycle and Reward Programme for customers

Diversity & Inclusion:

  • Women make up nearly 45% of workforce
  • Women comprise over 60% in Beauty & Fashion Category Management, Marketing, and HR
  • Ranked among India's Top 15 Best Workplaces in Retail by Great Place to Work in 2026
  • Board composition: 55% independent directors, ~30% women

CSR & Social Impact:

  • Nykaa Foundation focuses on women empowerment initiatives
  • Working with 15 NGO partners across country
  • Impacted nearly 2.0 lakh lives with more than 60% women beneficiaries
  • Trained over 5,600 women through beauty and wellness skilling programmes
  • 90% of CSR spend directed towards women empowerment initiatives
  • Target to skill 50,000 women by FY31
  • Partnerships include Indian Deaf Cricket Association and NCAER for India Women's Empowerment Index

Corporate Governance

  • Highly accomplished and diverse Board with expertise across consumer businesses, finance, technology, entrepreneurship and governance
  • Commitment to highest standards of governance