Nykaa's 14th AGM: Falguni Nayar highlights ₹10,000 Cr NSV, ₹20,000 Cr GMV in FY26, and FY30 vision
Nykaa's 14th AGM on August 25, 2026, saw Chairperson Falguni Nayar report FY26 NSV of ₹10,000 Cr and GMV of ₹20,000 Cr. The company projects scaling GMV 2.5-3x and EBITDA 4-5x by FY30. FY26 revenue grew 26% to ₹10,000 Cr, with EBITDA at ₹752 Cr. Key initiatives include AI integration and sustainability efforts.
The AGM speech provides a comprehensive update on the company's financial health, strategic direction, and future growth plans, which are crucial for investors and stakeholders.
The announcement details strong financial performance, significant growth across business verticals, ambitious future targets, and strategic investments in technology and sustainability, all presented positively by the Chairperson.
FSN E-Commerce Ventures Limited (Nykaa) held its 14th Annual General Meeting (AGM) on August 25, 2026. Chairperson Falguni Nayar delivered a speech detailing the company's performance and future outlook.
Nykaa has established itself as India's leading beauty and lifestyle destination with businesses encompassing its omnichannel beauty retail platform, Nykaa Fashion, the eB2B distribution platform Superstore by Nykaa, and the House of Nykaa portfolio of consumer brands. The company reported achieving ₹10,000 crores in Net Sales Value (NSV) and ₹20,000 crores in Gross Merchandise Value (GMV) in FY26, serving over 55 million cumulative customers.
The speech highlighted India's strong economic growth and the increasing discretionary consumption, with beauty and fashion categories expected to grow at over 12% annually. Nykaa is positioned to capitalize on trends like premiumization, digital adoption, and discovery-led commerce. The company's core target households are projected to nearly double to 110 million by FY36.
Financially, FY26 saw revenue grow by 26% to over ₹10,000 crore, with EBITDA growing 59% to ₹752 crore, expanding margins to 7.5%. Profit After Tax (PAT) nearly tripled to ₹204 crore. ROCE doubled to 21.2%. Looking ahead, Nykaa aims to scale overall GMV by 2.5 to 3 times by FY30 and grow EBITDA by 4 to 5 times, targeting margins in the early-to-mid teens. Revenue per employee has more than doubled to ₹2.5 crore in FY26.
Key business segments showed significant growth: Beauty NSV grew 4x to over ₹8,500 crore, Fashion NSV grew 6x to nearly ₹1,450 crore (achieving EBITDA breakeven in Q4 FY26), House of Nykaa scaled 8x in GMV to approximately ₹3,200 crore, and Superstore scaled nearly 4x in GMV to ₹1,200 crore in FY26.
Technological advancements were also discussed, including AI-driven tools like 'Ask Nykaa' for personalized recommendations, Virtual Closet for fashion try-ons, Skin Scan, and virtual make-up try-ons. AI is being embedded across all business functions to enhance efficiency and productivity.
Sustainability and ESG initiatives were emphasized, with 85% of orders using sustainable packaging, efforts to increase renewable energy usage, and recycling over 1100 metric tonnes of waste in FY26. The Nykaa Foundation focuses on women empowerment, having trained over 5,600 women and aiming to skill 50,000 by FY31. The company also highlighted its diverse workforce and inclusive culture, with women comprising nearly 45% of the team and ~30% of the Board being women.
A plain-language summary of a public exchange filing by FSN E-Commerce Ventures Limited. Read the original for the full detail.