Date: October 4, 2026

Operational Performance Update

Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) reported continued growth momentum for Q2 FY2027 (quarter ended September 30, 2026).

Consolidated Performance:

  • Gross Merchandise Value (GMV) expected to be "close to thirties" percentage growth YoY
  • Net Sales Value (NSV) growth expected to be "higher in early thirties" percentage YoY
  • Net Revenue growth expected to be "in late twenties" percentage YoY

Beauty Vertical Performance:

  • NSV growth expected to be "in late twenties" percentage YoY
  • Net Revenue growth expected to be "in late twenties" percentage YoY
  • Omnichannel business performed well with strong platform growth driven by new customer acquisition and repeat customer engagement
  • Retail network expanded with 14 net new store additions during the quarter
  • Total store count reached 338 as of September 30, 2026
  • Like-for-like store sales growth was "in the early twenties" percentage, reported as the highest in the last six quarters
  • House of Nykaa (owned brands) continued to grow ahead of the overall Beauty vertical

Fashion Vertical Performance:

  • NSV growth expected to be "in late forties" percentage YoY
  • Net Revenue growth expected to be "in early forties" percentage YoY
  • New customer acquisition remained strong during the quarter
  • More than 250 brands were added across categories during the quarter
  • Nike partnership showed "encouraging early traction, supported by exclusive drops"

Business Context:

The company noted that with a larger part of the festive season falling in Q3 FY2027, some festive-led growth has shifted from Q2 to Q3. Despite this, management remains "confident in the underlying growth drivers of the business and in delivering our long-term ambitions."

Disclaimer and Notes

  • This Revenue Update for the quarter ended September 30, 2026 is provisional
  • Financial results will be subject to limited review by the Statutory Auditors
  • This update is voluntary and does not constitute financial results or earnings guidance
  • All growth numbers are on Year-over-Year (YoY) basis in percentage terms
  • GMV refers to gross merchandise value before returns and cancellations
  • NSV refers to net sales value after returns, taxes, discounts and cancellations