Nykaa's premium push lifts Q4 Ebitda margin to record 8.4%, profit quadruples
FSN E-Commerce posted Q4FY26 revenue of ₹2,648 cr (+28% YoY) with Ebitda up 67% to ₹223 cr. House of Nykaa labels like Dot & Key (₹1,790 cr GMV) drove gross margin to 45.4%. Fashion turned Ebitda-positive, but at 72x FY27 EV/Ebitda, valuations look stretched amid rising competition.
Nykaa Q4FY26: revenue up 28% to ₹2,648 cr, Ebitda margin record 8.4%, net profit quadrupled. Fashion turned Ebitda-positive; House of Nykaa brands like Dot & Key drove margin expansion, though stock at 72x FY27 EV/Ebitda signals stretched valuations.