Nykaa guides to ~30% Q1 FY27 net revenue growth on strong fashion momentum
Nykaa expects near-30% net revenue growth in Q1 FY27, with fashion NSV up mid-fifties and beauty in the late twenties. Store count stood at 324 at June-end, en route to a 600+ store and 100M user target by FY2030. FY26 revenue rose 26% to Rs 10,022 crore; shares gained 3%.
What happened
Nykaa projects nearly 30% net revenue growth for Q1 FY27, led by fashion (NSV mid-fifties) and beauty (late twenties). Store count at 324, targeting 600+ stores
Key facts
- ~30% net revenue growth Q1 FY27
- GMV/NSV early thirties YoY
- fashion NSV mid-fifties
- beauty late twenties
- 324 stores at June-end
- Q4FY26 net profit Rs 78.75 crore
- Q4 revenue Rs 2,648.17 crore up 28%
- FY26 net profit Rs 203.94 crore
- FY26 revenue Rs 10,022.35 crore up 26%
- targets 600+ stores, 100M users by FY2030
- shares up 3%
Why this matters
The 600+ store and 100M user FY2030 ambition points to potential real-estate, tech, or brand acquisitions to accelerate omnichannel scale in both fashion and beauty verticals.
What to watch
- Q1 FY27 actual net revenue vs ~30% guide
- Fashion segment EBITDA margin movement
- Beauty growth holding above mid-twenties
- New store additions per quarter and city-tier mix
- AOV and repeat-user metrics toward 100M user goal
- Monitor quarterly NSV split between beauty and fashion to confirm fashion is scaling without eroding beauty core
- Track store roll-out pace and per-store economics against the 600+ FY2030 target
- Watch competitor beauty offensives (Tira, Reliance, Blinkit/quick-commerce beauty) for share erosion
- Assess fashion contribution margin trajectory toward breakeven