Results · Commerce & Consumer Brands

Nykaa Q4 net profit quadruples, revenue up 28%

What they do

Nykaa is an online beauty and fashion platform based in Mumbai

Q4 FY26 net profit jumped 4X to ₹78.8 Cr, revenue rose 28% to ₹2,648.2 Cr

Fashion vertical turned EBITDA-positive for the first time in Q4

Nykaa reported Q4 FY26 net profit of ₹78.8 Cr, up 4X from ₹19.1 Cr a year ago.
Operating revenue for the quarter grew 28% YoY to ₹2,648.2 Cr.
EBITDA rose 67% to ₹223 Cr, with margin at 8.4% – the highest ever.
Gross profit increased 32% to ₹1,203 Cr.
GMV (gross merchandise value, total value of goods sold) reached ₹5,241 Cr, up 28%.
For the full FY26, revenue crossed ₹10,022 Cr (up 26%), and net profit hit ₹203.9 Cr (up 182%).
The board approved acquiring an additional 24.17% stake in Earth Rhythm for ₹9.4 Cr, making it a wholly owned subsidiary.

Nykaa delivered its 14th consecutive quarter of mid-20s revenue growth.
The fashion vertical turned EBITDA-positive for the first time, at ₹1 Cr, versus a loss of ₹29 Cr last year.
Net debt improved 47% to ₹329 Cr, and cash from operations rose to ₹644.3 Cr.
The company added 76 new stores in FY26, reaching 313 stores across 99 cities.
Brokerages like Morgan Stanley, Jefferies, and HSBC gave positive ratings, with Jefferies targeting ₹350.

Nykaa is an online beauty and fashion platform headquartered in Mumbai.
It sells cosmetics, beauty products, and fashion items online in India.
The beauty vertical contributed 91% of Q4 revenue, with FY26 GMV of ₹14,954 Cr (up 27%).
The fashion vertical FY26 GMV was ₹4,954 Cr (up 30%), and revenue was ₹832 Cr.
Nykaa launched over 200 global beauty brands in FY26, including Chanel, Armani, and Kylie Cosmetics.
It operates 313 stores across 99 cities and serves over 55 million consumers.
The Superstore by Nykaa B2B (business-to-business) platform has 3.8 lakh transacting retailers across 1,000+ cities.
House of Nykaa owned brands achieved an annualised GMV run-rate of ₹3,176 Cr, serving 17 million+ customers.

Nykaa is building wellness as a future frontier.
The company plans to complete the acquisition of Earth Rhythm by August 31, 2026.