Nykaa's Q1 update paints a pretty picture for long-term growth

FSN E-Commerce Ventures (Nykaa) hit a new 52-week high of ₹319.80 after its Q1FY27 business update signalled consolidated net revenue growth of around 30%, materially ahead of consensus estimates of 24%. The fashion vertical grew almost 50%, while the beauty vertical maintained high-20s growth momentum. The company's store footprint expanded to 324 in Q1FY27 from 313 in Q4FY26, with targets to reach 500 stores in 3-4 years and grow GMV 2.5x to $5 billion by FY30.