Nykaa guides to ~30% Q1 net revenue growth on mid-fifties fashion surge
FSN E-Commerce Ventures projects nearly 30% net revenue growth in Q1 FY27, driven by fashion NSV up in the mid-fifties and beauty in the late twenties. Store count stands at 324, with a target of 600+ stores and 100M users by FY2030. Shares rose 3% on the outlook.
What happened
Nykaa projects nearly 30% net revenue growth in Q1 FY27, led by fashion NSV growth in mid-fifties and beauty in late twenties. Store count at 324, targeting
Key facts
- ~30% net revenue growth Q1 FY27
- GMV/NSV early thirties YoY
- fashion NSV mid-fifties growth
- beauty late twenties growth
- 324 stores end June
- Q4 FY26 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 FY2030 roadmap of 600+ stores and 100M users points to aggressive offline and customer-base expansion, opening room for store network, tech, or brand acquisitions to hit those targets.
What to watch
- Q1 FY27 results release and management commentary on margins
- Monthly/quarterly active user growth toward 100M FY30 goal
- Competitive moves from Myntra, Tira, Reliance in beauty/fashion
- Ad-income and monetization mix trends
- Working capital and inventory levels tied to fashion expansion
- Monitor actual Q1 FY27 print vs ~30% guide for beat/miss and margin trajectory
- Track store rollout cadence toward 600+ target and unit economics per new store
- Watch fashion GMV-to-NSV conversion and return-rate disclosures
- Assess beauty vertical's contribution margin as growth mix shifts toward fashion