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Nykaa's Q2 Revenue Soars, Retail Network Expands to 338 Stores
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Storyboard•04-10-2026, 23:00
Nykaa's Q2 Revenue Soars, Retail Network Expands to 338 Stores
- •Nykaa anticipates strong Q2 FY2027 growth with consolidated net revenue expected to rise in the late twenties and GMV in the high twenties.
- •The company's Beauty vertical maintained steady growth, with NSV and net revenue projected to increase in the late twenties year-on-year.
- •Nykaa's Fashion business emerged as a faster-growing vertical, with NSV growth expected in the late forties and net revenue in the early forties.
- •Nykaa expanded its omnichannel presence by adding 14 new stores, bringing its total retail network to 338 stores as of September 30, 2026.
- •The shift of a larger portion of the festive season into Q3 FY27 is expected to impact Q2 growth, but Nykaa remains confident in its long-term ambitions.
Key Questions Answered
Nykaa added 14 net new stores during the second quarter, bringing its total physical retail network to 338 stores as of September 30, 2026.
During Q2 FY2027, the Beauty vertical maintained steady growth with net revenue and net sales value expected to rise in the late twenties. Meanwhile, the Fashion business scaled faster, with net sales value growth expected in the late forties and net revenue growth in the early forties.
A larger portion of the festive season fell into Q3 FY27, causing some festive-led growth to shift from the September quarter into the December quarter. Despite this timing impact, Nykaa remains confident in its long-term ambitions and underlying growth drivers.
