Nykaa Reports Strong Q4 FY2026 Performance with Consolidated Net Revenue Growth in Late Twenties

Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) delivered a robust performance in Q4 FY2026. The Consolidated GMV growth is expected to be in late twenties, while Consolidated NSV growth is expected to be higher in early thirties. Consolidated Net Revenue growth is expected to be in late twenties, marking the highest growth in the last 12 quarters. This growth was driven by the acceleration in the Fashion vertical and the sustained strong performance of the Beauty vertical. Nykaa’s Beauty vertical is expected to deliver GMV, NSV and Net Revenue growth of late twenties. The Fashion vertical demonstrated steady growth revival since the start of FY2026 and is expected to strengthen further in Q4 FY2026 with GMV growth of late twenties and NSV growth tracking ahead at early forties. The retail network saw strong expansion with a record number of store additions - 26 new store openings and 11 Kiehl’s store integrations in Q4 FY2026.