Nykaa Q4 profit quadruples to Rs 78 cr; Jefferies cheers, Citi & Macquarie stay bearish
Nykaa posted Q4 net profit of Rs 78.4 cr vs Rs 20.3 cr YoY on revenue of Rs 2,648 cr (+28.4%). EBITDA jumped 67% to Rs 223 cr with margin at 8.4%. Fashion turned EBITDA-positive with NSV +42%; beauty NSV +29%. Jefferies hiked TP to Rs 350; Citi (Rs 225) and Macquarie (Rs 210) flagged slowing beauty ad income.
Nykaa Q4 net profit nearly quadrupled to Rs 78.4 cr on 28% revenue growth, with fashion business turning EBITDA-positive. Jefferies raised TP to Rs 350 calling it flawless; Citi and Macquarie stayed bearish, flagging slowing beauty ad income.
Why this matters
Reinforces Nykaa's Q4 turnaround narrative, with FY26 revenue crossing Rs 10,000 cr and store count at 313. Brokerage views diverge on beauty ad income trajectory despite fashion segment breakeven.
Retail-company signals steady at 892 over 90 days, indicating stable sector reporting cadence.