Nykaa’s beauty vertical is expected to deliver accelerated NSV growth of late twenties, highest in the past 6 quarters. This stellar growth comes in a seasonally strong quarter, making it the largest quarter till date in terms of absolute scale.

The outperformance of House of Nykaa brands, the success of Pink Friday sale as well as robust new customer acquisition contributed to the superior performance. As a result, beauty vertical’s net revenue growth is expected to be in the upper end of mid-twenties.

The fashion vertical is expected to continue its revived growth trajectory with NSV growth of mid-twenties in Q3 FY2026. Net revenue growth for the fashion vertical is expected to be in late teens in Q3 FY2026, lower than NSV growth primarily due to subdued content and marketing income and ongoing channel optimization of fashion owned brands.

FSN E-Commerce Ventures (Nykaa) journey began in 2012 as a digital-first, consumer tech beauty company. It has expanded its offerings to include fashion and B2B, launching platforms such as Nykaa Fashion, Nykaa Man, and Nykaa Superstore.

The company’s consolidated net profit soared 242.9% to Rs 34.43 crore on 25.1% increase in net sales to Rs 2,345.98 crore in Q2 FY26 over Q2 FY25.