Nykaa crosses $1 billion revenue mark in FY26 as profit jumps 183%

Nykaa has crossed the $1 billion revenue milestone in FY26, driven by strong growth in its beauty and fashion businesses, expansion of its offline retail network, and rising contribution from owned brands. The company reported a 26% year-on-year rise in revenue from operations to ₹10,022 crore in FY26, while net profit surged 183% to ₹204 crore.

EBITDA rose 59% to ₹752 crore, with EBITDA margin expanding to 7.5% from 6% a year earlier, according to the company.

Gross merchandise value, or GMV, grew 28% to ₹19,963 crore during the year. In the March quarter alone, revenue from operations rose 28% year-on-year to ₹2,648 crore, while quarterly net profit jumped 313% to ₹79 crore. EBITDA for the quarter rose 67% to ₹223 crore, with margins improving to 8.4% from 6.5% a year ago.

“Crossing the $1 billion revenue milestone along with track record for profitability and capital efficiency marks a defining moment in Nykaa’s 14-year journey and reflects the deep trust consumers place in us,” said  Falguni Nayar , executive chairperson, founder and CEO of Nykaa.

Nayar said the company’s beauty and fashion businesses have doubled their GMV over the last three years, while newer businesses such as Superstore and House of Nykaa have grown fourfold during the same period.

Beauty business anchors growth

The beauty business remained the largest contributor to growth. The vertical posted a 27% rise in GMV to ₹14,954 crore in FY26. FY26 was the company's strongest year for new launches, with more than 200 global beauty brands introduced on the platform across luxury, Korean beauty and dermo-cosmetics categories.

Brands including Chanel Beauty and Fragrance, Armani Beauty, SK-II, Kylie Cosmetics and Paula’s Choice were launched during the year.

Nykaa also accelerated its offline retail push. The company added 76 stores during FY26, taking its network to 313 stores across 99 cities. It said the additions marked a record pace of expansion while maintaining double-digit same-store sales growth.

The retailer has increasingly focused on experiential formats, including fragrance-led stores under Nykaa Perfumery and community-driven formats such as Kay Kafe.

Nykaa said it now serves more than 55 million consumers across its online and offline platforms.

Alongside beauty retail, Nykaa’s owned brands business emerged as another major growth engine. House of Nykaa Beauty and Fashion recorded an annualised GMV run-rate of ₹3,176 crore, up 49% year-on-year. The portfolio now serves over 17 million customers across 12 owned beauty and fashion brands.

The company also expanded distribution for its owned brands to over 150,000 retail outlets and entered international markets including the UK and GCC region.

Fashion and B2B businesses scale up

Its B2B platform, Superstore by Nykaa, also scaled sharply. The business grew from ₹325 crore GMV in FY23 to ₹1,187 crore in FY26, while its retailer network expanded to 493,000 registered retailers. The platform now works with more than 220 brands, including partnerships with companies such as L'Oréal, Reckitt and Johnson & Johnson.

Nykaa’s fashion business posted GMV growth of 30% to ₹4,954 crore in FY26, helped by over 1,280 new brand launches and stronger partnerships with brands such as Nike and H&M. Men’s wear grew 60% year-on-year, while kidswear and home categories rose 50% and 40%, respectively.

The company also highlighted growing use of artificial intelligence across beauty and fashion. Nykaa said AI-powered tools such as its Virtual Skin Analyzer and virtual try-on feature Nykaa Muse are helping improve customer engagement and personalisation.

Separately, Nykaa completed the acquisition of clean beauty brand Earth Rhythm in FY26 after acquiring the remaining 24% stake in the company.

Nykaa added that its GCC operations were impacted by the ongoing geopolitical situation in West Asia, though the impact on the overall business remained insignificant because of the region’s relatively small contribution to the company.