Nykaa Q1 FY27 GMV & NSV Growth Expected in Early Thirties

FSN E-Commerce Ventures Ltd (Nykaa) anticipates a strong start to FY2027, with consolidated GMV and NSV growth projected in the early thirties for Q1 FY2027. Consolidated Net Revenue growth is expected to accelerate to near thirties, driven by robust performance in the Fashion vertical (NSV growth mid-fifties) and steady momentum in the Beauty vertical (NSV growth late twenties). The Beauty segment's omnichannel business shows accelerated growth, and its retail network expanded to 324 stores. The Fashion vertical's performance is boosted by expanding brand assortment, marketing investments, and an encouraging Nike partnership. This update is provisional and subject to limited review.