Nykaa Share Price: FSN E-Commerce Ventures, the owner of the Nykaa brand, has reported its Q4 results on May 21. The company posted a multifold jump in consolidated net profit to Rs 78.75 crore for the March quarter, mainly driven by sales in the beauty segment and narrowing of losses in the fashion vertical, according to a company filing.
The company had posted a net profit of Rs 19.05 crore a year ago. The beauty segment of Nykaa registered a 52 per cent increase in profit (before exceptional items and tax) of Rs 157 crore, while losses of the fashion segment narrowed to Rs 8.26 crore from Rs 36.44 crore on a year-over-year basis.
The brokerage, Morgan Stanley, has maintained an overweight rating with a target price of Rs 286. Here’s why:
Nykaa Share Price: Elara Capital on Nykaa – Check latest TP
The brokerage firm, Elara Capital, maintains an accumulate rating and also raises the target price to Rs 300 from Rs 270. Reasons being:
Motilal Oswal on FSN E-commerce Ventures (NYKAA):
For the year ended March 31, 2026, Nykaa’s net profit surged multifold to Rs 203.94 crore from Rs 72.07 crore in fiscal year (FY) 2025.
“Crossing the USD 1 billion revenue milestone, along with a track record for profitability and capital efficiency, marks a defining moment in Nykaa’s 14-year journey.
“Over the past three years, Nykaa has evolved into a multi-engine growth platform, with our Beauty and Fashion businesses doubling their GMV, while our newer businesses like Superstore and House of Nykaa have grown 4x during the same period,” Nykaa Executive Chairperson, founder and CEO Falguni Nayar said.
The company’s annual revenue from operations grew 26 per cent to Rs 10,022.35 crore during the reported fiscal year from Rs 7,949.82 crore in FY25.
The beauty segment surged 26 per cent in revenue from operations to Rs 9,139.49 crore in FY26 from Rs 7,251.17 crore in FY25.
Nykaa said that its consolidated gross merchandise value grew 28 per cent to Rs 19,963 crore. The company said that Nykaa’s Beauty vertical’s GMV (gross merchandise value) climbed 27 per cent to Rs 14,954 crore.
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