Shares of FSN E-Commerce Ventures, the parent of fashion and beauty retailer Nykaa, will be in focus on Monday, January 5, after the company reported another strong quarterly update, with consolidated GMV and NSV growth expected to be in the late twenties in Q3 FY26.The company said this performance reflects a revival in its Fashion vertical since the start of the financial year, alongside continued strong momentum in the Beauty business.
With this, Nykaa expects consolidated net revenue growth to come in at the upper end of the mid-twenties, marking a slight acceleration from the mid-twenties growth sustained over the past several quarters.
The Beauty vertical is expected to deliver accelerated NSV growth in the late twenties, the highest seen over the past six quarters. This comes in a seasonally strong period, making it the largest quarter to date in terms of absolute scale. Growth was broad-based across Nykaa’s beauty businesses.The company attributed the strong performance to the outperformance of House of Nykaa brands, the success of the Pink Friday sale and robust new customer acquisition. As a result, net revenue growth for the Beauty vertical is expected to be at the upper end of the mid-twenties.
With this, Nykaa expects consolidated net revenue growth to come in at the upper end of the mid-twenties, marking a slight acceleration from the mid-twenties growth sustained over the past several quarters.
The Beauty vertical is expected to deliver accelerated NSV growth in the late twenties, the highest seen over the past six quarters. This comes in a seasonally strong period, making it the largest quarter to date in terms of absolute scale. Growth was broad-based across Nykaa’s beauty businesses.The company attributed the strong performance to the outperformance of House of Nykaa brands, the success of the Pink Friday sale and robust new customer acquisition. As a result, net revenue growth for the Beauty vertical is expected to be at the upper end of the mid-twenties.
Meanwhile, the Fashion vertical is expected to continue its recovery, with NSV growth in the mid-twenties in Q3 FY26. This was driven by strong performance of the core platform, new brand additions and healthy customer acquisition.
However, net revenue growth for the Fashion vertical is expected to be in the late teens, lower than NSV growth due to subdued content and marketing income and ongoing channel optimisation of fashion-owned brands.
Shares of Nykaa ended 0.53% lower on Friday at ₹264.35. The stock has gained 54% over the past one year.
