FSN E-Commerce Ventures Ltd (NYKAA) Q3FY26 Concall Summary - Dec-2025 Qtr
Performance Overview
- The company delivered a strong performance in a seasonally robust quarter, achieving a 28% year-on-year (YoY) GMV growth to INR 5,795 crores and a 27% YoY revenue growth to INR 2,873 crores, continuing its trend of mid-20s growth for over 13 consecutive quarters.
- Profitability saw a significant improvement, with the company reporting its highest-ever EBITDA margin at 8.0% (INR 230 crores), a 63% YoY growth. Profit After Tax (PAT) grew by 156% YoY to INR 68 crores.
- Both core business verticals demonstrated strong momentum; the Beauty business grew its GMV by 27% YoY with an improved EBITDA margin of 10.1%, while the Fashion business accelerated its GMV growth to 31% YoY and sharply reduced its EBITDA losses to -2.0% from -5.4% a year ago.
- The company successfully expanded its strategic partnerships, strengthening its decade-long relationship with L'Oreal by launching new brands, onboarding H&M, and entering a deep strategic partnership with Nike to manage its D2C digital commerce platforms in India.
- Customer acquisition remained a key focus and success area, with the Annual Unique Transacting Customers base growing by 26% YoY to 18.7 million, indicating a strong expansion of the user base without compromising the average order value (AOV).
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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