Beauty and fashion firm FSN E-Commerce, which operates Nykaa, recorded 313% jump in profit after tax (PAT) for the fiscal fourth quarter at Rs 79 crore as compared to Rs 19 crore in the same quarter previous fiscal.
Revenue from operations stood at Rs 2,648 crore, up 28% from Rs 2,062 crore in Q4FY25. Earnings before interest, taxation, depreciation and amortisation (Ebitda) came in at Rs 223 crore and was up 67% annually. Ebitda margin for the quarter was 8.4%, up 195 basis points, while PAT margin was up 205 basis points year-on-year at 3%.
Consolidated GMV (gross market value) for the quarter stood at Rs 5,241 crore, up 28% from Q4FY25 driven by 27% growth in beauty and personal care (BPC) segment and 29% growth in the fashion segment.
Nykaa’s cumulative customer base grew to 55 million at the end of the March quarter, on the back of strong customer acquisition and engagement across platforms, the company said.
For the full fiscal, revenue from operations grew 26% y-o-y to Rs 10,022 crore, crossing $1 billion revenue milestone, FSN said in its earnings release. Ebitda grew 59% annually to Rs 752 crore, while Ebitda margin expanded to 7.5% in FY26 versus 6% in FY25, registering its highest Ebitda margin ever.
Net profit for the fiscal was Rs 204 crore, up 183% annually with a PAT margin of 2%, up 113 basis points from 0.9% in FY25.
“Crossing the $1 billion revenue milestone along with track record for profitability and capital efficiency marks a defining moment in Nykaa’s 14-year journey and reflects the deep trust consumers place in us,” Falguni Nayar, executive chairperson, founder and CEO, Nykaa, said.
She added that the firm is building wellness as a future frontier, in addition to the existing beauty and fashion verticals.
Vertical Breakdown
Beauty segment GMV grew to Rs 3,892 crore in the fiscal fourth quarter, while fashion segment GMV to Rs 1,334 crore compared to Rs 1,037 crore in Q4FY25.
Revenue from BPC segment grew 27% to Rs 2,410 crore and fashion segment revenue grew 40% to Rs 225 crore in Q4FY26.
Annual unique transacting customers (AUTC) in beauty grew 25% (19.7 million in FY26 versus 15.8 million in FY25). The total number of orders for the full fiscal was up 21% on-year at 65.8 million.
“AI has now allowed us to also infer signals about new customers, where we do not have too much previous browse and purchase history data on them, but AI allows us to personalise the experience for them to an extent that was earlier not possible,” Anchit Nayar, executive director, chief executive officer (beauty e-commerce), FSN, said on the company’s strategy around using the new-age technology.
Physical Footprint Explosion
During the March quarter, the company added 37 new physical stores to expand its pan-India footprint to 313 stores across 99 cities. For the full fiscal, the company added 76 stores, highest ever in a 12-month window, and 20 cities to its physical footprint.
FSN added new retail formats including a fragrance store chain under Nykaa Perfumery, and Kay Kafe, which it describes as a lifestyle café blending beauty, coffee and community.
The company said that FSN’s rapid delivery service under Nykaa Now spans close to 75 or 80 rapid stores in the top seven metros that allow it to cover 80% to 90% of the relevant pin codes in those metros. The service comes with a delivery promise of about 30 minutes to two hours, which FSN leadership said was adequate for the beauty and personal care space. “We don’t think the 10-minute delivery is required for our categories,” the company said.
FSN shares were up 0.44% at Rs 274.4 at the end of day’s trading on Thursday on the BSE. The results were announced after market hours.