Synopsis: The share of this company surged after Nykaa outlined a FY30 vision targeting revenue growth to Rs 43,000 crore, driven by strong Beauty, Fashion, and B2B expansion plans.
The share of this company, which is a leading Indian omnichannel e-commerce retailer offering beauty, wellness, and fashion products, gained focus after a robust growth outlook.
With a market capitalization of Rs 86,444 crore, FSN E-Commerce Ventures Ltd’s shares on Thursday made a day high of Rs 303.75 per share, up by 8.11 percent from its previous day’s close price of Rs 280.95 per share. The share of the company gave a return of 52 percent over the last year.
India is emerging as one of the world’s most attractive premium consumption markets, and Nykaa is well-positioned to capture this opportunity across Beauty, Fashion, Consumer Brands, Retail and B2B Distribution. The company currently addresses a lifestyle market exceeding USD 100 billion and serves 55 million consumers across beauty, fashion, wellness and related categories, supported by strong execution capabilities.
Nykaa has unveiled an ambitious FY30 vision, targeting a USD 5 billion+ beauty and lifestyle business, equivalent to around Rs 43,000 crore in annual sales value. Based on its FY26 revenue of Rs 10,022 crore, this implies a growth potential of nearly 329 percent over the next four years.
Over the last six years, Nykaa’s GMV has grown more than 7X, with Beauty scaling 6X, Fashion 27X and House of Nykaa 10X. Looking ahead to FY30, the company targets 2-3X revenue growth and 4-5X EBITDA growth with a low-to-mid-teens EBITDA margin, driven by disciplined execution, operating leverage and capital-efficient investments, while aiming for ROCE above 40%.
Business Growth Outlook
Beauty Business Doubles in Three Years: Nykaa Beauty reinforced its leadership position in India’s beauty market, ending FY26 with a sales value of around Rs 15,000 crore. The business has doubled both revenue and sales value over the last three years while maintaining profitability, serving 45 million consumers through its digital platforms and 313 stores across 99 cities.
The company aims to grow its beauty business by 2–3X by FY30 while maintaining healthy double-digit EBITDA margins. Nykaa plans to expand its consumer base to 100 million, triple its premium beauty shopper base, and increase its retail footprint to over 600 stores through omnichannel and AI-led initiatives.
Fashion Business Doubles Scale in Three Years: Nykaa Fashion has emerged as one of India’s leading premium fashion platforms, driven by strong brand partnerships and technology-led consumer experiences. The business reached a sales value of Rs 4,954 crore in FY26, while doubling both sales value and NSV over the last three years and expanding its customer base to 4.3 million.
The company aims to grow its fashion business by 3–3.5X by FY30 while improving profitability. Growth is expected to be driven by premium fashion offerings, AI-powered discovery and personalization, and expansion across lifestyle categories, with the business progressing towards 10 percent+ steady-state profitability.
House of Nykaa Grows Nearly 10X in Six Years: House of Nykaa has emerged as one of India’s largest beauty brand portfolios, with its business scale reaching Rs 2,788 crore in FY26. Over the last six years, the portfolio has grown nearly 10X, supported by innovation, consumer insights, and a distribution network spanning more than 150,000 retail touchpoints.
The company aims to surpass Rs 5,000 crore in NSV by FY30 by scaling existing brands and expanding into high-growth beauty and personal care categories. Backed by strong brands such as Dot & Key and Kay Beauty, House of Nykaa is focused on premiumisation and long-term brand building.
Superstore Targets Rs 3,500 Crore+ Business Scale by FY30: The company’s B2B distribution platform has grown nearly 4X over the last three years to reach a business scale of Rs 1,187 crore in FY26, while expanding its retailer network to 494,000. Looking ahead, the platform aims to surpass Rs 3,500 crore in business scale and serve over 1 million retailers by FY30, supported by AI-led merchandising, retailer engagement initiatives, and a path towards sustainable breakeven.
AI to Power Future Growth: Nykaa is expanding the use of AI across product discovery, personalization, merchandising, and operations. Leveraging its consumer data and AI-powered tools, the company aims to enhance customer experience, improve efficiency, and support long-term growth across its business segments.
Management highlighted that India’s lifestyle economy is expanding rapidly as the economy moves towards USD 8–10 trillion by FY36, driven by rising affluence, digital adoption and higher discretionary spending. Nykaa aims to serve 200 million cumulative consumers by FY36, with wellness emerging as a key growth driver alongside AI-led personalization and efficiency gains.
About the Company
Nykaa began in 2012 as a digital-first beauty platform to make beauty mainstream in India. Founded by Falguni Nayar, it disrupted the retail space and expanded into fashion, men’s grooming, and B2B via Nykaa Fashion, Nykaa Man, Nykaa Superstore, and entered the Middle East with ‘Nysaa’.
Financial Highlight: The revenue from operations grew by 28 percent to Rs 2,648 crore in Q4 FY26 from Rs 2,062 crore in Q4 FY25, and EBIDT grew by 67 percent to Rs 223 crore in Q4 FY26 from Rs 133 crore in Q4 FY25. This was accompanied by a net profit growth of 286 percent to Rs 78.8 crore in Q4 FY26 from Rs 19.0 crore in Q4 FY25, resulting in an EPS growth of 286 percent to Rs 0.27 per share in Q4 FY26 from Rs 0.07 per share in Q4 FY25.
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