Nykaa Starts FY26 with Consolidated Net Revenue Growth in Lower End of Mid-Twenties

Nykaa (FSN E-Commerce Ventures Limited along with its subsidiaries) started FY26 on a positive note, with Q1FY26’s Consolidated Net Revenue growth expected to be at the lower end of mid-twenties. GMV growth is expected to be higher, crossing mid-twenties, indicating consistent momentum over several quarters. The Beauty vertical is expected to deliver GMV growth in higher mid-twenties, while the Fashion vertical is expected to deliver GMV growth of mid-twenties. House of Nykaa brands continued its accelerated growth trajectory with strong performance of home-grown as well as acquired brands.