| Revenue growth | Net revenue +28% YoY to ₹3,006 Cr; no one-offs cited. |
|---|---|
| Margins | EBITDA margin 8.7%, +196 bps YoY; marketing efficiency driving gains. |
| Demand visibility | Festive quarter unquantified; October pre-festive described as strong. |
| Management confidence | Balanced to optimistic; evasive on Nika Now economics and festive trends. |
Growth
Broad-based: beauty NSV +28%, fashion NSV +47%. Fashion EBITDA turned positive at ₹1 Cr after a ₹12 Cr loss a year ago.
Outlook
Fashion EBITDA margin high single digits by FY30, 10%+ steady state. No revenue or PAT growth guidance given.
Risks
H1 operating cash flow negative on inventory build; festive results unknown; marketplace order-volume disclosure dropped.
Last quarter's promises, checked
Delivered
- Guided fashion 3–3.5x growth over 4–5 yrs → Fashion NSV +47% YoY (= BEAT)
- Guided fashion profitability sustained → Fashion EBITDA +₹1 Cr vs ₹-12 Cr a year ago (= BEAT)
Partly delivered
- Guided working capital days <30, sustained → H1 operating cash flow negative on inventory build; WC days not disclosed (= PARTIAL)
Missed
- Guided full funnel transparency every call → marketplace order-volume disclosure dropped (= MISS)
Earnings Call Transcript filed with NSE, NSE: NYKAA. Summary written with AI assistance from the document.
FSN E-Commerce Ventures Ltd: key numbers
- Share price
- ₹355.50
- Market cap
- ₹1,01,840 Cr
- Revenue (annual)
- ₹10,022 Cr
- Net profit (annual)
- ₹199.4 Cr
- P/E (TTM)
- 315.8×Sector 64.0×
- Promoter holding
- 52.07%-0.01% QoQ
- FII holding
- 15.65%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from FSN E-Commerce Ventures Ltd
All →FSN E-Commerce Ventures Acquisition Worth ₹33 Cr
FSN E-Commerce (Nykaa) will acquire 82% control of Simply Nam Beauty for up to Rs.33 Crore in cash. The acquisition will be done in tranches, with completion targeted by December 2026.
- Value
- ₹33.00 Cr
- Execution
- Completion by 31-12-2026, in tranches
FSN E-Commerce Ventures Acquisition
Nykaa reported Q2 FY27 revenue up 28% YoY to Rs. 3,006 Cr with PAT up 207%. It is acquiring an 82% majority stake in Simply Nam Beauty.
FSN E-Commerce Ventures Investor Presentation: Key Takeaways
Q2FY27: net revenue Rs 3,006 Cr (+28%), EBITDA Rs 263 Cr (8.7% margin), PAT Rs 101 Cr (3.4% margin). Beauty drives profit; Fashion near breakeven.
FSN E-Commerce Ventures Q2 FY27 Results: Net Profit ₹101.2 Cr, Up 206.7% YoY
FSN E-Commerce Ventures Ltd reported revenue from operations of ₹3,006 Cr (+28.1% YoY) and net profit of ₹101.2 Cr (+206.7% YoY) for Q2 FY27.
- Key figure
- Net profit ₹101.2 Cr · +206.7% YoY
FSN E-Commerce Ventures Board Meeting Date
FSN E-Commerce (Nykaa) will hold a board meeting on 4 November 2026 to consider unaudited standalone and consolidated half-yearly results for September 2026. The trading window closes from 24 September to 6 November 2026.
FSN E-Commerce Ventures Other Announcement
FSN E-Commerce Ventures Limited has received an ESG rating of 72 from NSE Sustainability Ratings and Analytics Limited for FY2026, prepared independently without company engagement.