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Nykaa Q2 FY27 GMV growth seen near 30%, fashion NSV up late-40s; broker lifts target to ₹405

Nykaa's Q2-FY27 pre-quarter update points to consolidated GMV growth of around 30 per cent and NSV growth in the early 30s. Fashion NSV is expected to grow in the late-40s and beauty NSV in the late-20s. The broker raised its target price to ₹405.

Newer report , , CNBC-TV18 : Elara's Karan Taurani backs Nykaa, Trent and United Spirits as GST cuts lift discretionary demand

Read next

  1. Morgan Stanley expects Nykaa's Q2 FY27 revenue to grow in the high 20s; shares jump 6%, , Business Today
  2. Goyal presses Estée Lauder to expand India manufacturing and sourcing, and urges Blackstone to deepen its investment, , Moneycontrol

Why it matters to operators and investors

Fashion NSV tracking late-40s against beauty in the late-20s, with like-for-like store sales in the early 20s, suggests Nykaa's growth is shifting toward fashion while its stores stay productive, so rivals should benchmark fashion assortment depth and store-level productivity against these pacing figures.

What to watch next

  • Reported Q2 FY27 consolidated GMV growth versus the ~30% in the update
  • Fashion NSV growth holding in the late 40s, and beauty staying near the late-20s pace
  • Gap between NSV growth (early 30s) and net revenue growth (late 20s) in the filing
  • Like-for-like store sales growth staying in the early 20s
  • Target-price revisions from other brokers relative to the ₹405 level

The source

Source Read the source at The Hindu BusinessLine

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