Nykaa Projects High-Twenties Net Revenue Growth In Q4 FY26

Nykaa, a leading beauty and personal care ecommerce platform, is poised to report significant growth in its net revenue for the quarter ended March 31, 2026 (Q4 FY26), according to an exchange filing. The company expects net revenue growth in the high twenties, marking the strongest increase in the past 12 quarters. This growth trajectory is expected to continue for the full FY26, with net revenue growth at the upper end of mid-twenties.

The announcement comes as shares of Nykaa surged during today's trading session on the BSE, reaching an intra-day high of 3.88%. At the close of trading, the stock ended at ₹252.65, up 2.72% from its previous close. The company's market capitalization stood at around ₹72,339 Cr (approximately $7.77 billion) at the end of the trading day.

In addition to net revenue growth, Nykaa's gross merchandise value (GMV) is expected to see late twenties growth in Q4 FY26. Meanwhile, net sales value (NSV) growth is projected to be in the early thirties. On a yearly basis, NSV growth is anticipated to reach the late twenties, an improvement from the mid-twenties growth reported over the past two years.

The company's strong performance in Q3 FY26, which saw a 27% year-on-year (YoY) revenue jump, set the stage for these positive expectations. During that quarter, Nykaa's consolidated GMV reached a record high, increasing 28% YoY to ₹5,795 Cr.

Looking ahead, Nykaa's fashion vertical is expected to maintain its steady growth in Q4 FY26. GMV growth for this segment is projected in the late twenties, with NSV growth expected to reach the early forties. Net revenue from the fashion vertical is anticipated to improve to the early thirties, driven by enhanced funnel efficiency, continued customer acquisition, and increased marketing income.

The company's recent partnership with Nike has also contributed to its growth, with Nykaa now handling the sportswear giant's complete ecommerce operations in India. This includes managing on-site experiences, digital marketing, fulfillment, and customer experience for Nike's website and app. Early traction from this partnership has been noted, further bolstering Nykaa's performance.

As Nykaa continues to expand its offerings and strengthen its partnerships, the company's growth prospects remain strong. With a focus on customer acquisition, marketing, and operational efficiency, Nykaa is well-positioned to deliver sustained revenue growth in the coming quarters. Investors are likely to view these positive developments favorably, as the company's stock has already shown a notable increase in value following the release of these earnings expectations.