Nykaa reported Q2 FY27 NSV growth of 30.2%, eclipsing the 33% rise seen in the June quarter, while consolidated net revenue rose 27.8% YoY to ₹4,210 crore, 3.4% above the consensus of ₹4,120 crore. — CEO Shobhit Lakhia told the BSE filing.
The beauty vertical delivered NSV growth of 28.4% and net revenue growth of 27.9%, with 338 physical stores and a 22% like‑for‑like sales lift, the highest in six quarters, the filing noted.
Fashion segment surged to 47.6% NSV growth and 41.2% net revenue growth, adding more than 250 brands and securing early traction from its Nike partnership, the filing added.
Goldman Sachs kept a neutral stance, raising the target to ₹290 from ₹280, citing a 32% NSV forecast. Of 28 analysts, 16 hold a buy, six hold, six sell, projecting a 3% upside from current levels.
With the festive window shifting to Q3, analysts expect a 32% NSV jump next quarter. The retailer will monitor margin pressure as it expands its store network, but the 5.4% share rally indicates confidence in continued growth.