Sequentially, profit grew 16% sequentially from ₹67.7 Cr in Q3 FY26
Operating revenue for the quarter rose 28% to ₹2,648.2 Cr from ₹2,061.8 Cr in Q4 FY25
For the full FY26, Nykaa's profit grew 182% to ₹203.9 Cr from ₹72.1 Cr
BPC major Nykaa’s consolidated net profit surged 4X to ₹78.8 Cr in the fourth quarter of FY26 from ₹19.1 Cr in the year-ago quarter. Sequentially, profit grew 16% sequentially from ₹67.7 Cr.
Operating revenue for the quarter rose 28% to ₹2,648.2 Cr from ₹2,061.8 Cr — the highest YoY jump in top line over the past 12 quarters.
However, revenue declined 8% from ₹2,873.3 Cr in the previous quarter. Including other income of ₹9.2 Cr, the company’s total income for the quarter stood at ₹2,657.3 Cr.
In this, beauty vertical’s revenue grew 27% YoY to ₹2,409.9 Cr and fashion brought in ₹225.3 Cr, an uptick of 40% YoY.
EBITDA grew 67% YoY to ₹223 Cr in Q4, while margin expanded to 8.4% from 6.5% in Q4 FY25. Nykaa
also said that it recorded its highest EBITDA margin during the quarter.
Meanwhile, total expenses increased 25% YoY to ₹2,535.8 Cr. Purchase of traded goods, which is the company’s expenditure on the goods it sells on its platforms, accounted for a lion’s share of its total spends, growing 38% YoY to ₹1,572.8 Cr.
For the full FY26, Nykaa’s profit grew 182% to ₹203.9 Cr from ₹72.1 Cr. Operating revenue grew 26% YoY to ₹10,022.4 Cr.
The company’s gross merchandise value (GMV) surged 28% YoY to ₹5,241 Cr during the quarter, its 14th quarter of mis-20s growth.
“As we continue to build scalable and sustainable businesses across beauty and fashion, we are building wellness as a future frontier and remain confident in the long-term opportunity ahead. Simultaneously, we are seeing AI emerge as a powerful enabler for consumer businesses, enabling us to serve our customers with greater personalisation, efficiency, and scale,” Nykaa founder Falguni Nayar said.
Besides announcing its financials, Nykaa’s board also cleared acquisition of a 24.2% stake in skin care brand Earth Rhythm for ₹9.4 Cr. The transaction, which will make the brand a wholly owned subsidiary of Nykaa, will be completed by August 31.
Nykaa’s beauty business continued to remain its growth engine in Q4. The vertical’s GMV rose 27% YoY to ₹3,892 Cr, while NSV increased 29% to ₹2,269 Cr. EBITDA margin for the segment expanded to 10.3%.
The company said FY26 was its “best year ever” for beauty launches, with over 200 global brands added across luxury beauty, Korean skincare and dermacosmetics, including Chanel Beauty, Kylie Cosmetics and SK-II.
Nykaa also grew its offline business during the fiscal, adding a record 76 stores to end FY26 with 313 stores across 99 cities. The company launched newer experiential retail formats such as Nykaa Perfumery, Kay Kafe and House of Nykaa stores to deepen customer engagement.
Nykaa also highlighted its AI-led initiatives in beauty. It said its AI-powered ‘virtual skin analyser’ and personalised beauty profiles are helping drive consumer engagement and recommendations across categories.
Meanwhile, Nykaa Fashion posted a sharp improvement in Q4. GMV for the vertical grew 29% YoY to ₹1,334 Cr, while NSV jumped 42% YoY to ₹397 Cr. The segment turned EBITDA positive in the March quarter.
The company attributed the momentum to stronger brand partnerships and aggressive assortment expansion, having added more than 1,280 brands in FY26, including deeper partnerships with Nike and H&M.
Meanwhile, the company’s roll up arm, House of Nykaa, clocked an annualised GMV run rate of ₹3,176 Cr in FY26, up 49% YoY, while serving over 17 Mn customers across its owned beauty and fashion brands. Dot & Key emerged as the standout performer with GMV of ₹1,790 Cr, growing 13X over three years. Kay Beauty crossed ₹380 Cr GMV and expanded internationally through Space NK in the UK.
Nykaa’s B2B platform Superstore by Nykaa continued to deepen its retail reach. The business recorded GMV of ₹1,187 Cr in FY26, up 26% YoY, while its retailer network expanded to 4.93 Lakh onboarded retailers across more than 1,000 cities. The platform now offers products from over 220 brands, including partnerships with FMCG giants such as Colgate, Reckitt and L’Oréal.
Shares of Nykaa ended today’s trading session 0.44% higher at ₹274.4.
Source: Inc42 - Startups
