Nykaa reported strong Q2 business update with robust revenue growth across beauty and fashion segments, stock trading near 4.5-year highs

Mon 5 Oct 2026

Net revenue growth

late 20s percent

GMV growth

around 30s percent

New stores added

14 new stores

Like-for-like sales growth

early 20s percent

FY30 GMV target

5 billion dollar plus

Heard on business television between 14:38:37 - 14:41:37 IST.

• Net revenue growth seen in late 20s percent range on consolidated basis, with GMV expected to close around 30s percent growth.
• Beauty vertical net sales value and net revenue growth expected in later half of 20s percent; fashion vertical NSV and net revenue growth expected in 40s percent range.
• Omni-channel strategy driving growth with 14 new net store additions in the quarter; like-for-like sales growth in early 20s percent, highest in six quarters.
• Management guided ambition to reach 5 billion dollar plus GMV by FY30 (2.5-3x current scale), with EBITDA margin targeted in early-to-mid teens percent and Nykaa Fashion NSV scaling 3-3.5x by FY30.
• Stock seen trading near 4.5-year highs on the back of this update, with festive season expected to boost sales further.

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