Beauty and fashion firm FSN E-Commerce Ventures, which operates Nykaa, on Wednesday recorded fiscal fourth quarter profit at Rs 9.07 crore, posting a jump of 297.8 per cent in comparison to Rs 2.28 crore during the same period last year. It posted revenue from operations at Rs 1667.98 crore, up 28.1 per cent as against Rs 1301.72 crore during the corresponding quarter of previous fiscal year. The company EBITDA stood at Rs 93.2 crore, up 32 per cent on-year.
During the quarter, Nykaa said that the consolidated GMV grew 32 per cent YoY to Rs 3217.20 crore, as all the businesses continue to deliver superior performance. Q4 FY2024 EBITDA stood at Rs 93.2 crore with EBITDA margin at 5.6 per cent. EBITDA margin adjusted for ESOP expenses, new business (GCC operations) and corporate restructuring expenses expanded to 6.7 per cent for the quarter vs 5.5 per cent a year ago. This adjusted EBITDA growth of 56 per cent YoY was driven by direct and indirect cost efficiencies with fulfilment expense and employee expenses witnessing improvement from the last few quarters.
The strong quarter, Nykaa said, enabled the full year FY2024 consolidated GMV to grow 28 per cent YoY, reaching Rs 12446.10 crore. FY2024 consolidated revenue grew 24 er cent YoY to Rs 6385.60 crore.
Nykaa’s Q4 performance across business verticals
Nykaa’s Beauty business crossed the milestone of US$1 billion (Rs 8340.90 crore) GMV in FY2024, up 25 per cent YoY. The consolidated BPC GMV growth for Q4 FY2024 was 30 per cent YoY, highest growth in the last 6 quarters, with accelerated customer acquisition driving superior order growth. This was a result of superior performance in core categories of colour cosmetics, skincare and haircare as well as strong offtake of emerging categories such as fragrances and bath & body care.
During the quarter, the company exclusively launched Fenty Beauty, founded by Rihanna via Global store. Nykaa’s physical retail footprint as of 31 March 2024 was 187 stores across 68 cities, an addition of 42 stores during the year.
The company’s Fashion business GMV witnessed growth of 27 per cent YoY in FY2024 and a growth of 27 per cent YoY in Q4 FY2024, on growth across core categories of women’s Indian wear and western wear as well as ramping up of emerging categories like lingerie and active wear. The annual unique transacting customer (AUTC) grew at 20 per cent YoY to 3.0 million, while order growth stood at 16 per cent YoY for the full year.
Nykaa’s owned brands in FY24 have crossed Rs 1500 crore – constituting a significantly scaled business across mature, mid-size and up and coming brands in Beauty and Fashion. Its owned brands in beauty have grown 39 per cent in FY2024. Dot & Key (acquired by Nykaa in September 2021) is now at ~Rs 600 crore GMV run rate (Q4 FY2024 annualised), scaling 10x since its acquisition. Its athleisure and lingerie brand ‘Nykd’ has grown 14x in 3 years of its launch with Q4FY24 annualised GMV run rate of ~Rs 170 crore.
Nykaa distribution business – Superstore by Nykaa serves over 1.95 lakh transacting retailers and has expanded to over 1,000 cities. Superstore witnessed strong GMV growth of 84 per cent YoY in FY2024. Q4 FY2024 GMV growth was 81 per cent.
During the quarter, the company launched an omnichannel beauty platform – Nysaa in the GCC region. Nykaa, through its subsidiary FSN International, is making an investment of up to US$1.9 million into Nysaa. This constitutes the planned investment into Nysaa for FY25.