Nykaa Q1 FY27 Preview: Revenue Set to Jump 30% as Fashion Sales Accelerate

FSN E-Commerce Ventures, the parent company of India’s leading beauty and fashion e-tailer Nykaa, has projected a stellar consolidated net revenue growth of nearly 30% year-on-year for the first quarter of FY2026-27 (Q1 FY27).

According to the company’s recent regulatory filing for the quarter ended June 30, 2026, this growth is being heavily driven by a phenomenal turnaround and sharp acceleration in its fashion business.

Nykaa Fashion Steals the Spotlight

While Nykaa has historically been anchored by its beauty segment, the Fashion vertical has kicked off FY27 on an incredibly strong footing.

• NSV Growth: The Net Sales Value (NSV) for Nykaa Fashion is expected to grow in the mid-fifties percentage range, marking a significant acceleration compared to previous quarters.
• Consolidated Metrics: On a consolidated level, both Gross Merchandise Value (GMV) and NSV are projected to grow in the “early thirties” year-on-year.

The company highlighted that the fashion segment is seeing a much-improved conversion funnel from GMV to NSV, largely supported by a reduction in operational leakages.

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Beauty Segment and Retail Footprint Keep Pushing Ahead

Nykaa’s flagship Beauty and Personal Care (BPC) segment continues its steady upward trajectory, with projected growth in the “late twenties” for the June quarter.

The company attributes this robust platform growth to two main factors:

1. Expanded Brand Assortment: Offering a wider curation of domestic and international brands.
2. Strategic Marketing Investments: Aggressive marketing pushes that successfully translated into high new-customer acquisition rates.

Simultaneously, Nykaa is expanding its omnichannel presence, scaling its physical retail footprint to 324 stores across India by the end of June 2026.

Building on a Strong Financial Foundation

This optimistic Q1 projection follows a highly profitable fiscal year 2025-26. In the final quarter of FY26 (Q4 FY26), Nykaa reported a multi-fold jump in consolidated net profit to Rs 78.75 crore, driven by stellar beauty sales and a narrowing of losses in the fashion wing.

For the full fiscal year ended March 31, 2026, Nykaa’s financial performance showed massive scale:

• Net Profit: Surged nearly threefold to Rs 203.94 crore (up from Rs 72.07 crore in FY25).
• Annual Revenue: Grew 26% year-on-year to cross the milestone of Rs 10,022.35 crore.

With its fashion division firing on all cylinders and core beauty metrics remaining rock-solid, Nykaa looks well-positioned for a record-breaking FY27.