Nykaa shares in focus as Q1 update signals nearly 30% revenue growth, GMV

Nykaa's Q1 FY27 business update signals consolidated GMV and net sales value growth in the early thirties year-on-year. The standout is the fashion segment, expected to deliver net sales value growth of around 55% and net revenue growth of nearly 50%, marking a multi-quarter high driven by stronger demand, a wider brand portfolio and the Nike partnership. Core beauty net sales value and revenue are projected to grow in the late twenties, with retail sales up about 15% and total store count rising to 324 from 313 at end-March 2026.