Nykaa Projects 30% Revenue Growth in Q1 FY27 on Strong Fashion Sales

FSN E-Commerce Ventures, the parent company of Nykaa, projects nearly 30% year-on-year growth in consolidated net revenue for the first quarter of FY2026–27. This surge is largely attributed to the fashion segment, which is expected to see net sales value growth in the mid-fifties. The projection signals a significant acceleration for the company’s apparel business, driven by strategic marketing and an expanded brand portfolio.

FSN E-Commerce Ventures expects its consolidated Gross Merchandise Value (GMV) and Net Sales Value (NSV) to grow in the early thirties on a year-on-year basis for the quarter ended June 30, 2026. The company’s fashion vertical has started the new fiscal year on a particularly strong note, with projected NSV growth in the mid-fifties. This performance reflects a sharp acceleration from previous quarters and is supported by an improved GMV-to-NSV conversion rate resulting from lower operational leakages.

The growth in Nykaa’s core platform is attributed to a combination of an expanded brand portfolio and recent marketing investments designed to attract new customers. These initiatives build on the momentum from the March quarter of FY26, where the company saw a multifold rise in consolidated net profit to Rs 78.75 crore (US $8.26 million). During that same period, revenue from operations increased by approximately 28% to Rs 2,648.17 crore (US $277.65 million), driven by strong beauty sales and a reduction in losses within the fashion segment.

For the full fiscal year ended March 31, 2026, Nykaa's net profit nearly tripled to Rs 203.94 crore (US $21.38 million) from Rs 72.07 crore in the previous year. Annual revenue from operations grew 26% to reach Rs 10,022.35 crore (US $1,050.78 million). These financial results highlight the company's scaling capabilities and the increasing importance of the fashion sector in its overall revenue mix as it enters the first quarter of FY2027.