Shares of beauty and personal care (BPC) major Nykaa surged over 3% to hit a fresh 52-week high of ₹319.95 on the BSE today after it projected around 30% YoY growth in consolidated revenue for the first quarter of FY27.
The shares later pared some of the gains amid profit booking and were trading at ₹312.25 (0.79 % higher) at 12:50 PM IST. The company’s market capitalisation stood at ₹89,437.2 Cr (about $9.3 Bn).
Over the past month, the stock has surged more than 21%. The latest rally comes a day after Nykaa forecast one of its strongest quarterly performances for Q1 FY27. The company projects its consolidated gross merchandise value (GMV), net sales value (NSV) and net revenue to grow in the early 30% range in the June quarter.
The company said the strong outlook is being driven by a sharp recovery in its fashion business and continued growth for its beauty vertical.
Nykaa expects its beauty business to deliver NSV and net revenue growth in the high-20% range in Q1 FY27. Net revenue is likely to grow slightly slower than NSV because of the higher contribution from House of Nykaa, which does not generate marketing income. However, overall marketing income continued to grow strongly.
The company’s beauty business also maintained its momentum from the previous quarter, supported by mid-teen like-for-like retail growth and store expansion. In the June quarter, Nykaa expanded its store count to 324 stores from 313 at the end of FY26.
Meanwhile, the fashion business, which has historically been a laggard in performance for Nykaa, is expected to be the standout performer in the quarter.
The vertical is projected to witness a mid-50% range growth in its NSV in the quarter, its fastest pace in multiple quarters. Nykaa attributed the acceleration to lower leakages in the GMV-to-NSV funnel, an expanded brand portfolio and higher marketing investments that drove customer acquisition.
Growth was broad-based across women’s, men’s, kids’ and home categories, while its partnership with Nike delivered an encouraging start. As a result, net revenue growth in the fashion vertical is expected to accelerate to nearly 50%, marking a multi-quarter high.
Last month, Nykaa outlined its FY30 roadmap, targeting a beauty and lifestyle business with more than $5 Bn in GMV.
It expects revenue to grow 2-3X and EBITDA to increase 4-5X by FY30, while expanding its beauty retail network to over 600 stores, reaching 10 Cr beauty consumers, growing fashion GMV by 3-3.5X and scaling its House of Nykaa portfolio to more than ₹5,000 Cr in NSV.
Nykaa’s beauty business ended FY26 with a GMV of about ₹15,000 Cr, having doubled both GMV and revenue over the past three years while remaining profitable.
JM Financial reiterated its “Buy” rating on Nykaa with a 12-month target price of ₹360, citing expectations of around 30% revenue growth in Q1 FY27, supported by strong momentum in both the beauty and fashion businesses.
On the financial front, Nykaa had reported a more than fourfold jump in consolidated net profit to ₹78.8 Cr in Q4 FY26 from ₹19.1 Cr a year earlier, while operating revenue rose 28% YoY to ₹2,648.2 Cr, marking its highest annual revenue growth in the past 12 quarters.
For FY26, consolidated net profit climbed 182% to ₹203.9 Cr from ₹72.1 Cr in the previous fiscal, while operating revenue rose 26% YoY to ₹10,022.4 Cr.
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