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Elara lifts Nykaa target to Rs 475, flags 43% upside on beauty growth outlook
Elara Capital retained Buy on Nykaa and raised its target price to Rs 475, citing premiumisation, curated assortments and higher AOVs. It forecasts 25% BPC GMV CAGR through FY30 and online BPC share rising to 32%.
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Reported figures
From the report. Source details below
| Elara Capital target price raised to Rs 475 from | Rs 400 |
|---|---|
| 43.07% upside from Tuesday closing price of | Rs 332 |
| BPC valuation reduced to 75x PE from | 80x |
| Fashion business valuation retained at | 4x PS |
| Technical support at Rs 325; resistance Rs 336; near-term target | Rs 348 |
Also in the report
- Online BPC market share projected at about 32% in FY30 versus 27% in FY26
The source
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