# FSN E-Commerce Ventures (NYKAA) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/nykaa

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹353
- Change: +0.77%
- As of: 2026-11-06
- 1D return: +0.77%
- 5D return: +1.04%
- 1M return: +6.23%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

As of 2026-11-06, NYKAA trades at ₹353.00, positioned near the upper end of its recent ranges (+80% in the last 20 and 50 days; +92.1% over 252 days). The stock maintains a structural uptrend across daily, weekly, and monthly horizons, with price holding above all key moving averages and the Supertrend indicator. However, trend conviction is mixed: while the monthly ADX indicates strong momentum (82.81) and the weekly setup is established (ADX 36.42), the daily trend is weak (ADX 19.06). This divergence suggests that while the broader trajectory remains bullish, short-term directional force has diminished.

Participation signals are cautious. A significant volume-price anomaly on 2026-11-05 showed a 5.7% range expansion with a -1.5% return and high severity, coinciding with inactive 'Bearish Engulfing' and 'Doji' patterns from early November. These formations highlight seller presence despite the prevailing upward structure. Immediate support rests at the pivot level of ₹352.23 (-0.22%), with deeper levels at ₹341.07 (-3.38%) and ₹331.83 (-6.0%). Resistance is nearby at ₹361.47 (+2.4%) and ₹372.63 (+5.56%). Annualized volatility stands at 28.3%, with a current drawdown of just -0.7% from highs.

The technical thesis is one of consolidation within a long-term uptrend. The weak daily ADX and recent negative volume anomalies suggest a potential pause or pullback before any further upside. Confirmation of continued strength would require a decisive break above ₹361.47 with rising volume. Conversely, a close below the ₹352.23 pivot could signal a shift toward testing the ₹341.07 low.

- Trend Divergence: Monthly and weekly trends show strong to established momentum (ADX 36), but daily trend strength is weak (ADX 19.06), indicating short-term indecision.
- Price Positioning: Trading at ₹353.00, near multi-month highs (+92.1% in 252-day range); immediate support at ₹352.23, resistance at ₹361.47.
- Participation Signals: Recent extreme volume anomaly on 2026-11-05 (-1.5% return, 6.11x volume ratio) and inactive bearish reversal patterns suggest seller pressure despite the uptrend.
- Risk Profile: Current drawdown is minimal (-0.7%), but annualized volatility is elevated at 28.3%; downside risk increases if price breaks below the ₹352.23 pivot.

- Bearish Engulfing Reversal
- Doji
- Hammer
- Outside Bar

### News Context

FSN E-Commerce Ventures (Nykaa) reported strong Q2 FY27 results, with revenue growing 28% year-on-year and net profit surging 207% to ₹101 crore. The stock hit a 52-week high at the open on November 5 before retreating due to profit-taking, reflecting divergent investor views on valuation given a trailing P/E of 311. On the operational front, Nykaa announced plans to acquire an 82% stake in Simply Nam for up to ₹33 crore, integrating the brand into its House of Nykaa portfolio to drive growth and margins beyond its core marketplace business. International brokerages Nomura and Jefferies raised their target prices to ₹427 and ₹409 respectively, citing operating leverage and margin expansion, while CLSA also raised its target to ₹409 with an 'Outperform' rating. Conversely, Motilal Oswal retained a Neutral call, highlighting premium pricing risks.

- Q2 FY27 Financials: Revenue grew 28% YoY; net profit surged 207% to ₹101 crore; EBITDA jumped 65%.
- M&A Activity: Announced acquisition of 82% stake in Simply Nam for up to ₹33 crore to expand House of Nykaa portfolio.
- Brokerage Revisions: Nomura raised target to ₹427; Jefferies and CLSA raised targets to ₹409; Motilal Oswal retained Neutral due to valuation concerns.
- Market Reaction: Shares hit 52-week high on November 5 but retreated as profit-taking offset strong earnings, with trailing P/E noted at 311.

- [ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)
- [CLSA raises Nykaa target price after Q2 results; retains Outperform rating, stock reacts](https://www.businesstoday.in/markets/stocks/story/clsa-raises-nykaa-target-price-after-q2-results-retains-outperform-rating-stock-reacts-565856-2026-11-05)
- [Nykaa hits 52-week high at open, then retreats as profit-taking kicks in](https://www.thehindubusinessline.com/markets/stock-markets/nykaa-hits-52-week-high-at-open-then-retreats-as-profit-taking-kicks-in/article71668778.ece)
- [Nykaa: Nomura raises target price to Rs 427, sees 20% upside on growth and margin expansion](https://www.moneycontrol.com/news/business/stocks/nykaa-nomura-raises-target-price-to-rs-427-sees-20-upside-on-growth-and-margin-expansion-14071131.html)
- [Nykaa shares gain 3% as Nomura, Jefferies hike target prices after strong Q2. Should you buy despite valuation concerns?](https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-in-focus-as-nomura-jefferies-hike-target-prices-after-strong-q2-earnings-should-you-buy-despite-valuation-concerns/articleshow/135557974.cms)

### What Changed

On 2026-11-06, FSN E-Commerce Ventures (Nykaa) advanced its strategy to diversify beyond its core marketplace model through a significant corporate action. The company announced plans to acquire an 82% stake in Simply Nam for up to ₹33 crore, integrating the brand into its 'House of Nykaa' portfolio. This acquisition is positioned as a strategic move to drive growth and improve margins by tapping into new consumer segments outside the traditional beauty and fashion verticals.

Market pricing reflects this development with the stock trading at ₹353.0 on the observation date, a marginal increase from the previous recorded price of ₹350.3. While the acquisition signals a shift toward owned-brand expansion, the immediate financial impact remains to be realized as the integration proceeds. Investors should monitor how the integration of Simply Nam influences overall margin profiles and whether the 'House of Nykaa' strategy successfully offsets competitive pressures in the broader e-commerce landscape.

- Strategic Expansion: Nykaa announced plans to acquire an 82% stake in Simply Nam for up to ₹33 crore, integrating the brand into its House of Nykaa portfolio to drive growth and margins.
- Price Movement: The stock traded at ₹353.0 on 2026-11-06, up slightly from the previous level of ₹350.3.
- Unchanged Context: The company continues to operate as a listed entity on the NSE under the common name FSN E-Commerce Ventures.

- [ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)

### Official Filings

FSN E-Commerce Ventures Limited (Nykaa) disclosed Q2 FY27 financial results and strategic developments on November 4, 2026. The company reported Net Revenue of ₹6,151 crore and Profit After Tax (PAT) growth exceeding 200% for the quarter ended September 30, 2026. These unaudited results received limited review assurance from Walker Chandiok & Co LLP, which reported no material misstatements or omitted disclosures.

Strategically, the Board approved the acquisition of an 82% stake in Simply Nam Beauty Private Limited for cash consideration up to ₹33 crore. This transaction targets the premium makeup segment through celebrity founder Namrata Soni’s brand and is expected to close by December 31, 2026, subject to closing conditions. Operational metrics highlighted include a cumulative customer base of approximately 65 million and a retail footprint of 265 Beauty Stores.

On November 5, 2026, the company informed the exchange that SES ESG Research assigned Nykaa an adjusted ESG score of 66.8 for FY26, an increase from 65.9. This rating was generated independently using publicly available information without engagement by the company.

- Q2 FY27 Net Revenue reached ₹6,151 crore with PAT growth over 200%; results reviewed by auditors with no material qualifications noted.
- Board approved acquisition of 82% stake in Simply Nam Beauty for up to ₹33 crore, targeting closure by December 31, 2026.
- Cumulative customers stand at ~65 million with 265 active Beauty Store outlets across verticals.
- Voluntary ESG score improved to 66.8 for FY26 from 65.9, assessed independently by SES ESG Research.

- [FSN E Commerce Ventures Limited has informed the Exchange about ESG Rating. |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/NYKAA_05112026122426_SES_ESG_Intimation.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NYKAA_05112026123921_FinalIntimation.pdf)
- [FSN E Commerce Ventures Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026 and details of acquisition. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160123_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160435_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160901_Initmation_final_Inv_Presentation.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752759_04112026053602_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752762_04112026053637_WEB.xml)
- [FSN E COMMERCE VENTURES LIMITED has informed the Exchange regarding Acquisition (including agreement to acquire) |SUBJECT: Acquisition (including agreement to acquire)-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_19825_WebXMLFile_20261104_173755944.xml)
- [FSN E Commerce Ventures Limited has informed the Exchange about Link of Audio and Video Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/NYKAA_04112026223727_Final.pdf)
- [FSN E COMMERCE VENTURES LIMITED has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19825_WebXMLFile_20261104_224906253.xml)

### Fundamentals

FSN E-Commerce Ventures (Nykaa) demonstrates a clear acceleration in profitability and cash generation, supported by improving operational efficiency. For the trailing twelve months (TTM), sales grew 27% to ₹10,649 crore, while net profit surged 234% to ₹259 crore. This earnings quality is validated by Cash Flow from Operations rising to ₹644 crore in FY2026, with CFO/EBITDA conversion strengthening to 103%. The balance sheet reflects this scaling: Fixed Assets increased to ₹1,008 crore as Capital Work in Progress (CWIP) dropped sharply to ₹9 crore, indicating assets are becoming productive. Working Capital Days compressed significantly to 4 days in Mar 2026, up from 10 days in Mar 2024, though Inventory Days remain high at 109 days. Shareholding shows FIIs increasing their stake to 15.65% by Sep 2026, signaling institutional confidence. However, borrowings rose to ₹1,238 crore in Mar 2026, and interest costs ticked up to ₹118 crore for FY2026. Recent quarterly results show sequential growth, with Q2 FY2026-27 net profit reaching ₹101 crore on revenues of ₹3,016 crore.

The most critical checkpoint is whether the company can sustain its margin expansion while managing the higher debt load and inventory holding periods, particularly as it transitions from capital expenditure to revenue-generating operations.

- Profitability Surge: TTM Net Profit jumped 234% to ₹259 crore on 27% sales growth (₹10,649 crore), driven by operating leverage.
- Cash & Efficiency: CFO reached ₹644 crore (FY2026) with 103% conversion; Working Capital Days fell to 4 days, though Inventory Days remain elevated at 109 days.
- Balance Sheet Shift: CWIP collapsed to ₹9 crore while Fixed Assets grew to ₹1,008 crore; Borrowings increased to ₹1,238 crore, raising interest costs to ₹118 crore.
- Ownership Trend: FII holding rose to 15.65% by Sep 2026, contrasting with stable promoter stakes around 52%.

### Bull Case

FSN E-Commerce Ventures (Nykaa) presents a conditional upside case anchored by robust operational leverage and margin expansion, despite valuation concerns. In Q2 FY27, the company delivered 28% year-on-year revenue growth alongside a 65% surge in EBITDA and a 207% jump in net profit to ₹101 crore. This profitability inflection is supported by strategic initiatives, including the acquisition of an 82% stake in Simply Nam for up to ₹33 crore to expand its House of Nykaa portfolio. International brokerages Nomura and Jefferies have raised target prices to ₹427 and ₹409 respectively, citing these fundamental drivers. Technically, the stock maintains bullish momentum across daily, weekly, and monthly timeframes with Supertrend signals aligned positively, having gained +43.4% over the past year. The constructive case holds as long as the company sustains this margin trajectory and execution pace.

- Q2 FY27 financials showed 28% YoY revenue growth, 65% EBITDA expansion, and net profit rising 207% to ₹101 crore, highlighting strong operating leverage.
- Strategic growth includes acquiring an 82% stake in Simply Nam for up to ₹33 crore to diversify into new consumer segments via the House of Nykaa portfolio.
- Global brokerages Nomura and Jefferies raised target prices to ₹427 and ₹409 respectively, maintaining positive ratings based on growth and margin expectations.
- Technical structure remains bullish across daily, weekly, and monthly charts, with the stock up +43.4% over the last year and currently trading near a 52-week high.

- [ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)
- [CLSA raises Nykaa target price after Q2 results; retains Outperform rating, stock reacts](https://www.businesstoday.in/markets/stocks/story/clsa-raises-nykaa-target-price-after-q2-results-retains-outperform-rating-stock-reacts-565856-2026-11-05)
- [Nykaa hits 52-week high at open, then retreats as profit-taking kicks in](https://www.thehindubusinessline.com/markets/stock-markets/nykaa-hits-52-week-high-at-open-then-retreats-as-profit-taking-kicks-in/article71668778.ece)
- [Nykaa: Nomura raises target price to Rs 427, sees 20% upside on growth and margin expansion](https://www.moneycontrol.com/news/business/stocks/nykaa-nomura-raises-target-price-to-rs-427-sees-20-upside-on-growth-and-margin-expansion-14071131.html)
- [Nykaa shares gain 3% as Nomura, Jefferies hike target prices after strong Q2. Should you buy despite valuation concerns?](https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-in-focus-as-nomura-jefferies-hike-target-prices-after-strong-q2-earnings-should-you-buy-despite-valuation-concerns/articleshow/135557974.cms)
- [FSN E Commerce Ventures Limited has informed the Exchange about ESG Rating. |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/NYKAA_05112026122426_SES_ESG_Intimation.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NYKAA_05112026123921_FinalIntimation.pdf)
- [FSN E Commerce Ventures Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026 and details of acquisition. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160123_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160435_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160901_Initmation_final_Inv_Presentation.pdf)

### Bear Case

FSN E-Commerce Ventures (Nykaa) faces significant valuation headwinds despite strong operational growth. Following a 207% surge in Q2 FY27 net profit to ₹101 crore, the stock’s trailing P/E ratio stands at 311, prompting Motilal Oswal to retain a Neutral rating due to premium pricing risks. This high multiple has already triggered market correction; shares hit a 52-week high before retreating as profit-taking offset positive results. Technical indicators reflect this volatility, with the stock experiencing a maximum drawdown of -16.4% and an annualized volatility of +28.3%. While near-term support exists at ₹352.23, resistance levels at ₹361.47 and ₹372.63 suggest limited immediate upside without further fundamental catalysts.

- Valuation Risk: Trailing P/E of 311 is cited as a premium pricing risk, leading to a Neutral rating from Motilal Oswal despite consensus Outperform/Buy views from other brokerages.
- Profit-Taking Pressure: Stock retreated after hitting a 52-week high, indicating that recent gains are being sold off even amid strong Q2 FY27 revenue growth of 28%.
- High Volatility: Annualized volatility of +28.3% and a maximum drawdown of -16.4% highlight significant price instability for investors.
- Technical Resistance: Immediate resistance is noted at ₹361.47 (+2.4%) and ₹372.63 (+5.56%), while current price sits near pivot support at ₹352.23.

- [ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)
- [CLSA raises Nykaa target price after Q2 results; retains Outperform rating, stock reacts](https://www.businesstoday.in/markets/stocks/story/clsa-raises-nykaa-target-price-after-q2-results-retains-outperform-rating-stock-reacts-565856-2026-11-05)
- [Nykaa hits 52-week high at open, then retreats as profit-taking kicks in](https://www.thehindubusinessline.com/markets/stock-markets/nykaa-hits-52-week-high-at-open-then-retreats-as-profit-taking-kicks-in/article71668778.ece)
- [Nykaa: Nomura raises target price to Rs 427, sees 20% upside on growth and margin expansion](https://www.moneycontrol.com/news/business/stocks/nykaa-nomura-raises-target-price-to-rs-427-sees-20-upside-on-growth-and-margin-expansion-14071131.html)
- [Nykaa shares gain 3% as Nomura, Jefferies hike target prices after strong Q2. Should you buy despite valuation concerns?](https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-in-focus-as-nomura-jefferies-hike-target-prices-after-strong-q2-earnings-should-you-buy-despite-valuation-concerns/articleshow/135557974.cms)
- [FSN E Commerce Ventures Limited has informed the Exchange about ESG Rating. |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/NYKAA_05112026122426_SES_ESG_Intimation.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NYKAA_05112026123921_FinalIntimation.pdf)
- [FSN E Commerce Ventures Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026 and details of acquisition. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160123_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160435_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160901_Initmation_final_Inv_Presentation.pdf)

### FAQs

**What were the key financial results for Nykaa in Q2 FY27?**

For the quarter ended September 30, 2026, FSN E-Commerce Ventures reported net revenue of ₹6,151 crore, representing 28% year-on-year growth. Net profit surged 207% to ₹101 crore, driven by expanded EBITDA margins across beauty and fashion segments.

**Is Nykaa acquiring any new brands, and what is the timeline?**

Yes. The board approved the acquisition of an 82% stake in Simply Nam Beauty Private Limited for up to ₹33 crore. The transaction is expected to close by December 31, 2026, subject to regulatory approvals and closing conditions.

**How have analysts reacted to these results, and are there valuation concerns?**

Brokerages Nomura and CLSA raised target prices to ₹427 and ₹409 respectively, citing margin expansion. However, views diverge on valuation; Motilal Oswal retained a Neutral rating due to premium pricing risks, noting a trailing P/E of 311.

**What is the current technical trend and price action for the stock?**

As of November 6, 2026, the daily supertrend is bullish with a close at ₹353.0. The stock hit a 52-week high earlier but retreated due to profit-taking. Key resistance levels are noted at ₹361.47 and ₹372.63.

- [ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)
- [CLSA raises Nykaa target price after Q2 results; retains Outperform rating, stock reacts](https://www.businesstoday.in/markets/stocks/story/clsa-raises-nykaa-target-price-after-q2-results-retains-outperform-rating-stock-reacts-565856-2026-11-05)
- [Nykaa hits 52-week high at open, then retreats as profit-taking kicks in](https://www.thehindubusinessline.com/markets/stock-markets/nykaa-hits-52-week-high-at-open-then-retreats-as-profit-taking-kicks-in/article71668778.ece)
- [Nykaa: Nomura raises target price to Rs 427, sees 20% upside on growth and margin expansion](https://www.moneycontrol.com/news/business/stocks/nykaa-nomura-raises-target-price-to-rs-427-sees-20-upside-on-growth-and-margin-expansion-14071131.html)
- [Nykaa shares gain 3% as Nomura, Jefferies hike target prices after strong Q2. Should you buy despite valuation concerns?](https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-in-focus-as-nomura-jefferies-hike-target-prices-after-strong-q2-earnings-should-you-buy-despite-valuation-concerns/articleshow/135557974.cms)
- [FSN E Commerce Ventures Limited has informed the Exchange about ESG Rating. |SUBJECT: Credit Rating- Others](https://nsearchives.nseindia.com/corporate/NYKAA_05112026122426_SES_ESG_Intimation.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NYKAA_05112026123921_FinalIntimation.pdf)
- [FSN E Commerce Ventures Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026 and details of acquisition. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160123_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Acquisition |SUBJECT: Acquisition](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160435_outcome.pdf)
- [FSN E Commerce Ventures Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160901_Initmation_final_Inv_Presentation.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Uptrend
- Weekly trend: Moderate Uptrend
- Pivot point: ₹352.23
- Risk regime: Price Risk Currently Contained

### Support levels
- 321.359375
- 313.7
- 300.15

### Resistance levels
- 361.4666666666667
- 372.6333333333333
- 381.8666666666667

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.77% |
| return_10 | +10.55% |
| return_1m | +4.38% |
| return_1y | +43.41% |
| return_20 | +6.23% |
| return_3m | +6.34% |
| return_5 | +1.04% |
| return_6m | +29.61% |
| return_since_start | +114.36% |
| return_ytd | +32.83% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -16.37% |
| annualized_volatility | +28.28% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# FSN E Commerce Ventures Limited Q2 FY2026-27: Revenue and profit rise sequentially

Revenue from operations rose 8.1% quarter on quarter to ₹3,006 crore in Q2 FY2026-27, while profit for the period increased 26.9% to ₹101 crore. Expenses grew more slowly than revenue, but operating cash flow was negative ₹28.56 crore and free cash flow was negative ₹92.01 crore.

## Revenue and profitability

Revenue from operations increased ₹224 crore from ₹2,782 crore in Q1 FY2026-27. Expenses rose ₹205 crore to ₹2,867 crore. Profit before tax increased 15.0% to ₹148.51 crore from ₹129.16 crore in Q1, while profit for the period rose to ₹101.19 crore from ₹79.76 crore.

Revenue also increased year on year, up 28.1% from ₹2,345.98 crore in Q2 FY2025-26. The recent quarterly trend was uneven: revenue rose from ₹2,873.26 crore in Q3 FY2025-26 to ₹2,648.17 crore in Q4, then increased in each of the next two quarters.

Diluted EPS was ₹0.35, compared with ₹0.28 in Q1 FY2026-27. Trailing 12-month EPS was ₹1.12. Tax expense declined to ₹47.32 crore from ₹49.40 crore sequentially.

## Expenses and finance costs

Purchases of stock in trade were ₹1,925.28 crore. The change in inventories of finished goods, work in progress and stock in trade was a negative ₹306.81 crore. Employee benefit expense was ₹220.05 crore, and depreciation, depletion and amortisation expense was ₹93.05 crore.

Finance costs increased 14.1% quarter on quarter to ₹30.52 crore from ₹26.74 crore in Q1 FY2026-27. They were 3.0% lower than the ₹31.47 crore reported in Q2 FY2025-26.

## Inventory and working capital

Inventories stood at ₹2,209.66 crore at 30 September 2026, up from ₹1,642.16 crore at 31 March 2026 and ₹1,572.92 crore at 30 September 2025. Trade receivables were ₹270.72 crore, down from ₹289.38 crore at 31 March 2026. Trade payables increased to ₹951.30 crore from ₹732.50 crore over the same six-month period.

Current assets rose to ₹3,875.91 crore from ₹3,188.94 crore at 31 March 2026, while current liabilities increased to ₹3,228.30 crore from ₹2,758.25 crore. Current financial liabilities were ₹3,077.65 crore at quarter-end.

## Cash flow and balance sheet

Operating cash flow was negative ₹28.56 crore and investing cash flow was negative ₹63.45 crore; free cash flow was negative ₹92.01 crore. Financing activities provided ₹94.51 crore. Cash and cash equivalents stood at ₹179.70 crore at 30 September 2026, compared with ₹177.20 crore at 31 March 2026 and ₹112.57 crore at 30 September 2025.

Current borrowings were ₹972.50 crore, up from ₹728.88 crore at 31 March 2026. Total assets increased to ₹5,342.26 crore from ₹4,611.38 crore at that date. Equity was ₹1,713.86 crore, including ₹1,654.92 crore attributable to owners of the parent.

## Key Takeaway

Nykaa delivered sequential growth in revenue and profit, with expenses rising more slowly than revenue. The increase in inventory and negative operating and free cash flow are important counterpoints, keeping cash generation and working-capital investment in focus alongside improved reported earnings.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +52.08%
- FII holding: +13.73%
- DII holding: +24.08%
- Mutual fund holding: +18.91%
- Retail holding: +2.38%
- Promoter pledged: +0.00%

### Major reported shareholders

- Sanjay Nayar Family Trust (Sanjay Nayar and Falguni Nayar) — +21.02% (Trusts)
- Falguni Nayar Family Trust (Falguni Nayar and Sanjay Nayar) — +21.02% (Trusts)
- Sbi Contra Fund — +4.22%
- Anchit Nayar Family Trust (Anchit Nayar, Sanjay Nayar and Falguni Nayar) — +3.44% (Trusts)
- Adwaita Nayar Family Trust (Adwaita Nayar, Sanjay Nayar and Falguni Nayar) — +3.44% (Trusts)
- Harindarpal Singh Banga — +2.86%
- Icici Prudential Life Insurance Company Limited — +2.71%
- Mirae Asset Large & Midcap Fund — +2.64%
- Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund — +2.29%
- Hdfc Trustee Company Limited-Hdfc Flexi Cap Fund — +1.87%

## Official filings

- 2026-11-07 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_19825_WebXMLFile_20261107_214749891.xml)
- 2026-11-07 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_07112026215438_NykaaIntimation.pdf)
- 2026-11-06 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_06112026222127_TranscriptQ2FY27.pdf)
- 2026-11-06 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19825_WebXMLFile_20261106_223106322.xml)
- 2026-11-05 — Credit Rating Update: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_05112026122426_SES_ESG_Intimation.pdf)
- 2026-11-05 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_05112026123921_FinalIntimation.pdf)
- 2026-11-04 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160123_outcome.pdf)
- 2026-11-04 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160435_outcome.pdf)
- 2026-11-04 — Earnings Presentation: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_04112026160901_Initmation_final_Inv_Presentation.pdf)
- 2026-11-04 — Financial Results Filing: FSN E Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752759_04112026053602_WEB.xml)
- 2026-11-04 — Financial Results Filing: FSN E Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1752762_04112026053637_WEB.xml)
- 2026-11-04 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_19825_WebXMLFile_20261104_173755944.xml)
- 2026-11-04 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_04112026223727_Final.pdf)
- 2026-11-04 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19825_WebXMLFile_20261104_224906253.xml)
- 2026-10-27 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19825_WebXMLFile_20261027_173928325.xml)
- 2026-10-27 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_27102026173730_ConferenceIntimationNov2026.pdf)
- 2026-10-26 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19825_WebXMLFile_20261026_195016215.xml)
- 2026-10-26 — Board Meeting Notice: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_26102026194740_BM_Intimation.pdf)
- 2026-10-26 — Board Meeting Notice: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_19825_WebXMLFile_20261026_195016215.xml)
- 2026-10-26 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_26102026200545_Earningscall.pdf)
- 2026-10-26 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19825_WebXMLFile_20261026_201913593.xml)
- 2026-10-20 — Shareholding Disclosure: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742358_20102026064551_WEB.xml)
- 2026-10-15 — Credit Rating Update: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_15102026192236_NSE_ESG_Rating_Intimation.pdf)
- 2026-10-14 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NYKAA_14102026154841_finalintimationreg74.pdf)
- 2026-10-09 — Generic Announcement: FSN E-Commerce Ventures Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_19825_WebXMLFile_20261009_154809075.xml)

## News and market events

- 2026-11-05 — Economic Times: **ETtech Explainer: How House of Nykaa is emerging as a growth and margin driver - The Economic Times** — Nykaa announced plans to acquire an 82% stake in Simply Nam for up to Rs 33 crore, integrating the brand into its House of Nykaa portfolio. This move reflects the company's broader strategy to drive growth and margins by expanding beyond its core marketplace business to tap into new consumer segments. — [Source](https://economictimes.indiatimes.com/tech/startups/ettech-explainer-how-house-of-nykaa-is-emerging-as-a-growth-and-margin-driver/articleshow/135573693.cms)
- 2026-11-05 — BUSINESSTODAY: **CLSA raises Nykaa target price after Q2 results; retains Outperform rating, stock reacts** — Global brokerage CLSA raised its target price for FSN E-Commerce Ventures Ltd (Nykaa) to Rs 409 from Rs 376, maintaining an 'Outperform' rating following the company's strong second-quarter FY27 results. The revision reflects improved profitability driven by operating leverage and better margins, with Nykaa reporting 28% year-on-year revenue growth and expanded EBITDA margins in both its beauty and fashion segments. — [Source](https://www.businesstoday.in/markets/stocks/story/clsa-raises-nykaa-target-price-after-q2-results-retains-outperform-rating-stock-reacts-565856-2026-11-05)
- 2026-11-05 — The Hindu: **Nykaa hits 52-week high at open, then retreats as profit-taking kicks in** — Shares of Nykaa parent FSN E-Commerce Ventures hit a 52-week high at the open before retreating as profit-taking offset strong Q2FY27 results, which showed revenue growth of 28 per cent and a 65 per cent jump in EBITDA. While analysts were largely positive on the company's execution and margin expansion, views diverged sharply on valuation, with some firms citing premium pricing risks against the stock's trailing P/E of 311. — [Source](https://www.thehindubusinessline.com/markets/stock-markets/nykaa-hits-52-week-high-at-open-then-retreats-as-profit-taking-kicks-in/article71668778.ece)
- 2026-11-05 — MONEYCONTROL: **Nykaa: Nomura raises target price to Rs 427, sees 20% upside on growth and margin expansion** — Nomura has raised its target price for Nykaa to Rs 427, citing expectations of growth and margin expansion. The brokerage sees a 20% upside potential based on these fundamental drivers. — [Source](https://www.moneycontrol.com/news/business/stocks/nykaa-nomura-raises-target-price-to-rs-427-sees-20-upside-on-growth-and-margin-expansion-14071131.html)
- 2026-11-05 — Economic Times: **Nykaa shares gain 3% as Nomura, Jefferies hike target prices after strong Q2. Should you buy despite valuation concerns?** — FSN E-Commerce Ventures, parent of Nykaa, reported a 207% year-on-year surge in Q2 FY27 net profit to Rs 101 crore, driven by 28% revenue growth and expanded EBITDA margins. International brokerages Nomura and Jefferies raised their target prices and maintained Buy ratings, citing strong momentum and margin expansion, while Motilal Oswal retained a Neutral call due to valuation concerns. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nykaa-shares-in-focus-as-nomura-jefferies-hike-target-prices-after-strong-q2-earnings-should-you-buy-despite-valuation-concerns/articleshow/135557974.cms)
- 2026-11-05 — The Hindu: **Nykaa Q2 profit grows over three-fold to ₹101 crore** — FSN E-Commerce Ventures, operating under the Nykaa brand, reported a more than three-fold increase in consolidated net profit to ₹101 crore for the quarter ended September 30, 2026, driven by a 28% rise in revenue to ₹3,006 crore. The company attributed this growth to strong performance in its Beauty and Fashion verticals, with consolidated GMV increasing 30% year-on-year to ₹6,151 crore, alongside operational efficiency improvements highlighted by CEO Falguni Nayar. — [Source](https://www.thehindubusinessline.com/companies/nykaa-q2-grows-over-three-fold-to-101-crore/article71668471.ece)
- 2026-11-05 — BUSINESSTODAY: **GIFT Nifty up 313 pts; Adani Power, BSE, Lenskart, Nykaa, Auro Pharma among stop stocks in focus** — Adani Power has entered into a 25-year Power Supply Agreement with Uttarakhand Power Corporation Limited to supply 1,234 MW of thermal power. The agreement is backed by an installed capacity of 1,320 MW, securing a long-term revenue stream for the utility provider. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/gift-nifty-up-313-pts-adani-power-bse-lenskart-nykaa-auro-pharma-among-stop-stocks-in-focus-565785-2026-11-05)
- 2026-11-05 — Economic Times: **Stocks in news: BSE, Lenskart, Nykaa, Bharti Airtel, LIC, Aurobindo Pharma and Nalco** — Indian equity benchmarks extended their winning streak to a fifth consecutive session, with the Nifty 50 closing at 23,961 amid broad-based buying and optimism for a breakout above 24,000. Several companies, including BSE, Lenskart, Nykaa, Bharti Airtel, LIC, Aurobindo Pharma, and NALCO, are in focus as investors track their September-quarter earnings, sales data, and operational updates. Experts advise monitoring support levels around 23,750–23,700 as the bullish trend persists. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-bse-lenskart-nykaa-bharti-airtel-lic-aurobindo-pharma-and-nalco/articleshow/135548122.cms)
- 2026-11-05 — Economic Times: **GPU bidding norms eased; Lenskart CEO on profitability** — The Indian government has relaxed entry barriers for GPU bidders under the IndiaAI Mission by lowering capacity requirements, though industry executives remain concerned about pricing sustainability and usage guarantees. In corporate developments, Lenskart reported a 125% rise in net profit to Rs 232 crore while emphasizing growth and supply chain investments, whereas Nykaa saw its net profit triple to Rs 101.19 crore following a 28% revenue increase. — [Source](https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/gpu-bidding-norms-eased-lenskart-ceo-on-profitability/articleshow/135555615.cms)
- 2026-11-04 — Economic Times: **Nykaa Q2 profit more than triples, operating revenue grows 28% - The Economic Times** — FSN E-Commerce Ventures, the parent company of Nykaa, reported a 28% year-on-year increase in second-quarter operating revenue to Rs 3,006 crore and more than tripled its net profit to Rs 101 crore. The growth was driven by a 30% rise in gross merchandise value, with the fashion segment expanding 42% and the beauty and personal care business growing 25%, alongside increased contributions from the House of Nykaa private label and marketing income. — [Source](https://economictimes.indiatimes.com/tech/startups/nykaa-q2-profit-more-than-triples-operating-revenue-grows-28/articleshow/135544803.cms)
- 2026-11-04 — MONEYCONTROL: **Nykaa bets on premium brands, lower marketing costs to boost fashion margins** — Nykaa is focusing on premium brands and reducing marketing costs to improve its fashion margins. This strategic shift aims to enhance profitability within the company's fashion segment. — [Source](https://www.moneycontrol.com/news/business/companies/nykaa-bets-on-premium-brands-lower-marketing-costs-to-boost-fashion-margins-14070277.html)
- 2026-11-04 — Economic Times: **Lenskart, Nykaa, PhysicsWallah see Q2 profits surge** — New-age companies Lenskart, Nykaa, and PhysicsWallah reported strong financial results for the September quarter, with Lenskart’s net profit more than doubling to Rs 232 crore, Nykaa’s tripling to Rs 101.19 crore, and PhysicsWallah’s doubling to Rs 143.63 crore. In other developments, ShareChat operator Mohalla Tech saw revenue rise 40% but widen its net loss to Rs 1,978 crore, while the government considers a 2% transaction levy on aggregators to fund social security for gig workers. — [Source](https://economictimes.indiatimes.com/tech/newsletters/tech-top-5/nykaa-lenskart-physicswallah-see-q2-profits-surge/articleshow/135540651.cms)
- 2026-11-04 — CNBC-TV18: **Stocks to Watch for Nov 5: Dabur, BSE, Nykaa, Lenskart, Torrent Power and more** — Multiple companies including Dabur, Nykaa, Torrent Power, Apollo Hospitals, and BSE reported their Q2 results on November 4, with most posting double-digit profit growth. While entities like Apollo Tyres and RITES saw earnings declines or margin contractions, others such as PhysicsWallah and Chalet Hotels demonstrated significant improvements in profitability metrics despite varying revenue trends. — [Source](https://www.cnbctv18.com/photos/market/stocks/stocks-to-watch-for-nov-5-dabur-nykaa-lenskart-torrent-power-rites-and-more-20027129.htm)
- 2026-11-04 — MONEYCONTROL: **India's Nykaa quarterly profit nearly triples on beauty demand, margin gains** — India's Nykaa reported that its quarterly profit nearly tripled, driven by strong demand in the beauty segment and improvements in margins. The company attributed this financial performance to these specific operational factors. — [Source](https://www.moneycontrol.com/news/business/earnings/india-s-nykaa-quarterly-profit-nearly-triples-on-beauty-demand-margin-gains-14069746.html)
- 2026-11-04 — BUSINESSTODAY: **Nykaa Q2 earnings: Net profit rises 207%, revenue crosses Rs 3,000-crore mark** — FSN E-Commerce Ventures Ltd, listed as Nykaa, reported a 207% year-on-year rise in net profit to Rs 101.19 crore and revenue crossing the Rs 3,000-crore mark at Rs 3,006 crore for Q2 FY2027. The company also announced the acquisition of an 82% stake in Simply Nam for up to Rs 33 crore, aiming to expand its premium makeup portfolio. Following the after-market earnings announcement, the stock rose 0.31% to close at Rs 355.10. — [Source](https://www.businesstoday.in/markets/stocks/story/nykaa-q2-earnings-net-profit-rises-revenue-crosses-rs-3000-crore-565721-2026-11-04)
- 2026-10-29 — Mint: **Top 3 stocks to buy tomorrow: Kotak Mahindra Bank, Nykaa, Eternal by market expert; check stop-loss, target price** — Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services, issued buy recommendations for Kotak Mahindra Bank, Nykaa, and Eternal, specifying target prices and stop-loss levels for each stock. — [Source](https://www.livemint.com/market/stock-market-news/top-3-stocks-to-buy-tomorrow-kotak-mahindra-bank-nykaa-eternal-by-market-expert-check-stop-loss-target-price-11793275019681.html)
- 2026-10-27 — The Hindu: **Broker’s call: Nykaa (Buy)** — Jefferies — [Source](https://www.thehindubusinessline.com/markets/brokers-call-nykaa-buy/article71631806.ece)
- 2026-10-25 — Mint: **Katrina Kaif’s Kay Beauty hits ₹350 cr valuation, completing one year in UK's retail market with luxury chain Space NK | Company Business News** — Katrina Kaif’s Kay Beauty has crossed ₹350 crore in gross merchandise value as it expands internationally through British luxury beauty retailer Space NK. The brand, launched with Nykaa in 2019, is growing its presence beyond India. — [Source](https://www.livemint.com/companies/people/katrina-kaif-s-kay-beauty-hits-350-cr-valuation-completing-one-year-in-uks-retail-market-with-luxury-chain-space-nk-11792954648251.html)
- 2026-10-25 — Economic Times: **L'Oreal bets on quick commerce, local products to accelerate India growth** — L'Oreal is seeing substantial growth in its Indian market, supported by enhanced team capabilities and localization strategies. The company's consumer products division reported double-digit growth, particularly in haircare and skincare. L'Oreal is expanding its skincare brands CeraVe and La Roche-Posay into new cities to meet rising consumer demand. Additionally, L'Oreal has acquired a majority stake in Innovist to boost its digital-first marketing approach in India. — [Source](https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/loreal-bets-on-quick-commerce-local-products-to-accelerate-india-growth/articleshow/135184135.cms)
- 2026-10-20 — Mint: **Nykaa shares: Anand Rathi initiates coverage on e-commerce stock with 'buy' rating | Check target price, rating** — Stock to buy: The brokerage firm further added that Nykaa saw a significant turnaround in FY26 with a record $1 billion revenue. — [Source](https://www.livemint.com/market/stock-market-news/nykaa-shares-anand-rathi-initiates-coverage-on-e-commerce-stock-with-buy-rating-check-target-price-rating-11792473585712.html)
- 2026-10-19 — Economic Times: **Nifty rally faces crucial test at key resistance levels: Analysts** — Nifty gained 3% last week, forming a higher-top and higher-bottom structure, indicating bullish sentiment. Analysts suggest it must breach key resistance levels for more substantial gains ahead. Meanwhile, Bank Nifty is approaching significant resistance, which may hinder further upside potential shortly. Key stocks like Coforge, Kotak Bank, and Indian Hotels present buying opportunities based on technical analysis. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nifty-gains-3-as-analysts-predict-recovery-key-resistance-levels-ahead/articleshow/135037107.cms)
- 2026-10-17 — The Hindu: **Movers & Shakers: Stocks that will see action this week** — Stock picks for the week: Axis Bank, Indegene, and FSN E-Commerce Ventures poised for potential breakouts and actionable trading levels. — [Source](https://www.thehindubusinessline.com/portfolio/technical-analysis/movers-amp-shakers-stocks-that-will-see-action-this-week/article71593492.ece)
- 2026-10-05 — CNBC-TV18: **Nykaa shares jump over 5% as Q2 NSV growth tops 30%; Goldman Sachs raises price target** — Goldman Sachs said investors had been somewhat concerned about a potential growth deceleration in the September quarter due to the shift in festive timing. Based on its recent conversations with investors, the brokerage said Nykaa's results were ahead of investor expectations, although broadly in line with its own estimates. — [Source](https://www.cnbctv18.com/market/nykaa-share-price-q2-business-growth-strong-goldman-sachs-raises-target-price-beauty-fashion-20004622.htm)
- 2026-10-05 — The Hindu: **Sensex today | Stock Market Live: Sensex, Nifty trade flat at noon as crude, bond yields cap gains** — Sensex, Nifty, Stock Price Live: Indian equity markets traded largely flat at noon after opening higher, with the Sensex up 0.07 per cent and Nifty 0.04 per cent. Improved global cues supported sentiment, while elevated crude prices and bond yields capped gains and pressured foreign flows. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-5th-october-2026/article71544056.ece)
- 2026-10-05 — BUSINESS: **Nykaa Q2 update: JM sees 'excellent trends' in BPC & Fashion; stock up 5%** — Nykaa said that the Beauty vertical maintained its healthy performance in Q2 with net sales value (NSV) and Net Revenue growth expected to be in late 30s. — [Source](https://www.business-standard.com/markets/news/nykaa-q2-update-jm-sees-excellent-trends-in-bpc-fashion-stock-up-5-126100500310_1.html)

## Business profile

**Strategic vision:** Digitally native consumer technology platform for beauty and lifestyle.

### Business segments
- **Beauty and Personal Care:** Offers a wide range of cosmetics, skincare, haircare, and wellness products through its online platform.
- **Fashion:** Provides designer clothes, accessories, and lifestyle products.
- **Men's Grooming and Wellness:** Offers grooming, hair care, skin care, and wellness products specifically for men.
- **Wellness and Lifestyle:** Strategically expanded into broader wellness and lifestyle categories.

### Competitive strengths
- Enhanced quality assurance and product authenticity through direct purchasing and inventory management.
- Superior customer experience via efficient delivery and return processes.
- Curated product assortments tailored to the Indian consumer market.
- Seamless integration of online and offline retail channels.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/nykaa
Markdown representation: https://faxioms.com/stocks/nykaa?render=md