FSN E-Commerce Ventures Ltd (NYKAA) Q2FY26 Concall Summary - Sep-2025 Qtr
Performance Overview
- The company reported its highest year-on-year GMV growth in the last 6 quarters, reaching INR 4,744 crores, a 30% increase, indicating a strong growth momentum.
- Profitability saw significant improvement, with the company achieving its highest EBITDA margin (6.8%) and highest PAT margin (1.4%) since its IPO, driven by efficiency improvements across the business.
- The Beauty segment demonstrated robust and consistent growth, while the Fashion vertical showed a significant revival in growth and a substantial reduction in losses, contributing positively to the overall performance.
- The company continued its aggressive customer acquisition strategy, growing its cumulative customer base by 32% YoY to 49 million, supported by investments in marketing and brand-building initiatives.
- Strategic expansion of the physical retail footprint continued, with 19 new beauty stores opened in the quarter, bringing the total to 265 stores across 90 cities, enhancing its omnichannel presence and customer experience.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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