Nykaa Shows Exceptional Growth in Q4 FY26

Nykaa, the leading online beauty and fashion platform, experienced remarkable growth in both top and bottom lines during the quarter concluding in March 2026 (Q4 FY26). The company, based in Mumbai, reported an impressive 28.4% year-on-year increase in operational revenue, while profit surged by 313.4% during this period.

Revenue Insights

The operational revenue rose to Rs 2,648 crore in Q4 FY26, up from Rs 2,062 crore in Q4 FY25, as per filings with the National Stock Exchange. Over the complete fiscal year (FY26), Nykaa’s operational revenue increased by 26.1%, reaching Rs 10,022 crore compared to Rs 7,950 crore in the previous year.

Sector Performance

The beauty segment remained the key player, comprising 91.01% of the Q4 revenue at Rs 2,409.4 crore. Meanwhile, the fashion division added 8.50% to the operating income for the quarter.

Cost Structure and Profitability

The cost of materials emerged as the largest expenditure, accounting for 56.98% of the overall spending, which amounted to Rs 1,445 crore in Q4 FY26. Additional expenses on employee benefits, finance, marketing, technology, and various overheads brought the total costs for the quarter to Rs 2,536 crore.

Profit Growth

Enhancing scale and operational effectiveness contributed to remarkable profitability, as Nykaa reported a 4.1X increase in quarterly profit after tax (PAT), climbing to Rs 78.8 crore in Q4 FY26 from Rs 19.1 crore in Q4 FY25. The profit also showed a sequential rise of 16.3%, compared to Rs 67.74 crore in Q3 FY26.

Strategic Acquisition

The Board of Nykaa has given the green light for acquiring an additional 24.17% stake in Earth Rhythm Private Limited (ERPL). The acquisition will involve up to 20,864 equity shares for a total cash consideration of up to Rs 9.4 crore. ERPL, known for its sustainable beauty and personal care products, anticipates completing this transaction by August 31, 2026.

Market Position

At the end of today’s trading, Nykaa’s shares were priced at Rs 274.50, which assigns the company a market valuation of approximately Rs 78,231 crore.