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Nykaa’s latest revenue and sales figures
Nykaa is the consumer-facing brand of FSN E-Commerce Ventures Limited. Its latest full-year figures in the company’s investor materials cover FY2026, the year ended March 31, 2026. The latest quarter in the company’s investor-relations index is Q1 FY2027, ended June 30, 2026.
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| Period | Reported revenue | GMV |
|---|---|---|
| FY2026 | ₹10,022 crore, up 26% year over year | ₹19,963 crore, up 28% year over year |
| Q1 FY2027 | ₹2,782 crore revenue from operations, up 29% year over year | ₹5,590 crore consolidated GMV, up 34% year over year |
These are different measures. Revenue is the company’s reported revenue measure; gross merchandise value (GMV) measures merchandise transacted across its platform and is not revenue. Nykaa also reported FY2026 EBITDA of ₹752 crore and profit after tax (PAT) of ₹204 crore; neither figure should be mistaken for revenue.
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Nykaa’s Beauty vertical includes e-commerce, retail stores, eB2B distribution and House of Nykaa beauty. This is broader than a single online shop or a store network: it brings together several ways the company sells beauty products and serves customers.
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In Q1 FY2027, Beauty GMV was ₹4,105 crore, while net sales value (NSV) growth was 29% year over year. These figures describe different things: GMV is the value transacted, while the stated growth rate is for NSV. The company’s FY2026 presentation also identifies Nykaa Beauty, Nykaa Stores, House of Nykaa and Superstore by Nykaa among its key operating areas.
Fashion is growing quickly, from a smaller base
Fashion is a separate business from Beauty, comprising the fashion platform and fashion brands. In Q1 FY2027, Fashion GMV was ₹1,471 crore, up 53% year over year, and Fashion NSV was ₹451 crore, up 54% year over year.
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Growth is not the same as profitability. Fashion’s EBITDA margin was 0.1% of NSV in Q1 FY2027, compared with -6.2% in Q1 FY2026. The improvement shows why Fashion’s rapid growth should be read alongside its margin rather than treated as a measure of profit on its own.
How stores and online sales fit in
Nykaa operates online platforms and physical beauty retail, but the latest reviewed official figures do not establish a precise current share of total revenue from online sales versus physical stores. Treating either channel as a separately quantified revenue segment would go beyond those disclosures.
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As of June 30, 2026, Nykaa reported 324 offline beauty destinations and more than 60 million customers served through online platforms. The customer figure is a cumulative reach statement, not a count of active buyers during Q1 FY2027. The 324 figure refers to beauty destinations; it is not necessarily a total count across every Nykaa format.
Distribution to retailers is another part of the Beauty business. In its Q1 FY2027 disclosure, Nykaa reported Superstore by Nykaa GMV of ₹336 crore and a retailer network spanning more than 1,200 cities. This illustrates the role of eB2B distribution; it does not provide an online-versus-store revenue split.
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How to interpret Nykaa’s revenue drivers
- Scale: Compare revenue with revenue and GMV with GMV; they are not interchangeable.
- Growth: Keep the period attached to every growth rate. Q1 FY2027 figures are quarterly year-over-year comparisons, not full-year growth.
- Profitability: Revenue and GMV do not show whether a business line is profitable. Fashion’s reported EBITDA margin provides a separate profitability indicator.
- Business scope: Beauty includes online commerce, stores, owned beauty brands and B2B distribution. Online sales and stores are channels within this wider operation, not a disclosed revenue breakdown.
Nykaa’s CEO, Executive Chairperson and Founder Falguni Nayar said in the August 4, 2026 results release that the quarter marked continued acceleration in growth momentum and EBITDA margins, “both reaching their highest levels in the last 12 quarters.” This is management’s characterization of Q1 FY2027 performance.
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