Nykaa Projects High-Twenties Net Revenue Growth In Q4 FY26

Nykaa, a leading beauty and personal care ecommerce platform, has announced high-twenties net revenue growth in the quarter ended March 31, 2026 (Q4 FY26), marking the highest increase in the past 12 quarters. The company's shares closed at ₹252.65 today, up 2.72% from their previous close, reflecting investor optimism. Nykaa's market capitalization stood at around ₹72,339 Cr (approximately $7.77 billion) at the end of today's trading session.

The net revenue growth for the full FY26 is expected to be at the upper end of mid-twenties, indicating a strong financial performance. In an exchange filing, Nykaa revealed that its consolidated gross merchandise value (GMV) growth in Q4 is projected to be in the late twenties, while net sales value (NSV) growth is expected to be in the early thirties. This represents a significant improvement over the past two years, when NSV growth was reported to be in the mid-twenties.

Today's announcement followed a 27% year-on-year (YoY) revenue jump in Q3 of FY26, after 12 consecutive quarters of mid-twenties growth. During this period, Nykaa's consolidated GMV reached a record high, increasing 28% YoY to ₹5,795 Cr. The company's fashion vertical has been a key driver of growth, with GMV growth projected in the late twenties and NSV growth in the early forties for Q4. Net revenue from this vertical is expected to improve to the early thirties, fueled by funnel improvement, continued customer acquisition, and an uptick in marketing income.

Nykaa's recent partnership with Nike has also contributed to its strong performance. The Falguni Nayar-led company now handles the sportswear major's complete ecommerce operations in India, including managing on-site experience, digital marketing, fulfillment, and customer experience for Nike's website and app. Early traction from this partnership has further boosted Nykaa's growth trajectory.

Intraday trading on the BSE saw Nykaa's shares rise as much as 3.88%, with the stock trading 2.79% higher at ₹252.80 by 11:14 IST. This positive response underscores investor confidence in the company's ability to deliver sustained growth.

Nykaa's Q4 FY26 results highlight its resilience and adaptability in the competitive ecommerce landscape. The company's strategic partnerships, focus on customer acquisition, and continuous improvement in marketing and operational efficiencies have positioned it well to achieve its growth targets. As the company looks ahead to the full FY26, its upper mid-twenties net revenue growth projection signals a promising outlook for the future.