Nykaa Forecasts Fastest Revenue Growth in Three Years

The fashion and beauty retailer FSN E-COMMERCE VENTURES LTD announced on Monday that it expects net revenue to grow in the late-20% range for the fourth quarter of fiscal 2026. This performance marks the company's fastest growth rate in three years, driven by a significant rebound in fashion sales and consistent demand within its beauty category. Following the announcement, shares of the company based in India climbed as much as 3.9%, reaching their highest level in over three weeks. The retailer projected that its consolidated net sales value (NSV) for the fourth quarter will likely increase in the early-30% range. Meanwhile, the consolidated gross merchandise value (GMV), representing the total value of all goods and services sold through its platform, is forecast to rise in the late-20% range. The beauty business is expected to post growth in the late-20% range in the quarter, supported by improvement across categories. The fashion segment, which has seen a steady revival since the start of fiscal 2026, is expected to strengthen further in the fourth quarter. The company forecast late-20% GMV growth for the fashion vertical, with NSV growth tracking higher in the early-40% range. For the full fiscal year, the company expects net revenue to improve towards the upper end of the mid-20% range. The retailer's Middle East exposure stands at below 1% of overall revenue, and the company has not seen any material impact from the ongoing conflict.