Nykaa Quarterly Revenue Update - Q2 FY2026

Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) has seen an accelerated growth momentum in Q2 FY2026, with Consolidated GMV growth expected to be close to thirties, compared to mid twenties in the last few quarters. This superior performance is driven by renewed growth in the Fashion vertical and healthy performance of Beauty vertical.

Nykaa's Beauty vertical is expected to deliver NSV and Net Revenue growth of mid-twenties, marking 10+ consecutive quarters of sustained growth momentum. House of Nykaa brands continue to witness rapid growth driven by robust performance of acquired brands like Dot & Key, as well as homegrown brands like Kay Beauty and Nykaa Cosmetics.

Nykaa's Fashion vertical is expected to deliver NSV growth of higher mid twenties, on the back of strong traction in core platform business, which was led by expanding brand assortment and robust customer acquisition. The vertical's Net Revenue growth is expected to improve to low twenties from low to midteens in the last few quarters. Net Revenue growth for the vertical is lower than NSV growth due to lag in advertising and marketing income.

As a result, Nykaa has delivered yet another quarter of healthy performance with Consolidated Net Revenue growth expected to be mid-twentiesin Q2 FY2026, aided by an early start to the festive season.

The recent GST reforms announced by the Government are a welcome step toward stimulating demand. These reforms are expected to increase disposable income and drive long-term growth across several consumer and discretionary categories.

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 239.85 as compared to the previous close of Rs. 241.20. The total number of shares traded during the day was 56001 in over 1229 trades.

The stock hit an intraday high of Rs. 241.95 and intraday low of 237.35. The net turnover during the day was Rs. 13386963.00.

Source : Equity Bulls

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FSNECommerceVentures Nykaa Q2FY26 Q2FY2026 QuarterlyUpdate