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FSN E-Commerce Ventures (NYKAA) investor relations material
FSN E-Commerce Ventures Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 26% year-over-year GMV growth to ₹4,180–4,182 crore and 23% net revenue growth to ₹2,155 crore in Q1 FY26.
Gross profit rose 27% year-over-year to ₹962 crore; EBITDA up 46% year-over-year to ₹141 crore; PAT grew 79% year-over-year to ₹24 crore.
Customer base reached 45 million, up 30% year-over-year; 250 beauty stores now operate across 82 cities.
House of Nykaa brands delivered 57% year-over-year GMV growth, achieving a ₹2,700 crore run rate.
Unaudited consolidated results for the quarter ended June 30, 2025, were approved by the Board and reviewed by independent auditors.
Financial highlights
Revenue from operations grew 23% year-over-year to ₹2,155 crore; gross margin expanded by 132 bps to 44.6%.
EBITDA margin improved to 6.5% (up over 100 bps year-over-year); PAT margin at 1.1%.
Working capital days improved to 32; ROCE increased to 12.7% at the consolidated level.
Contribution margin rose to 19.9% (up 41 bps year-over-year); fulfillment and employee expenses as % of revenue declined.
Basic and diluted EPS for the quarter were ₹0.08 (consolidated) and ₹0.05 (standalone).
Outlook and guidance
Confident in sustaining market-beating growth despite macro uncertainties and competition.
On track to achieve EBITDA break-even in fashion segment during the year.
Continued focus on premiumization, expanding brand portfolio, and omnichannel reach.
House of Nykaa brands expected to drive further growth, with Kay Beauty set for global expansion.
Superstore eB2B platform scaling with improved profitability and wider reach.
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