Summary:
Nykaa shares rallied more than 7% after the company outlined an ambitious FY30 growth strategy at its Investor Day 2026 event. The beauty and fashion retailer expects revenue to grow 2-3 times and EBITDA to expand 4-5 times over the next four years. The company's beauty business remains its primary growth driver, while fashion, House of Nykaa, and Superstore are expected to contribute significantly to future expansion. Strong industry tailwinds and improving profitability have further boosted investor confidence.
FSN E-Commerce Ventures Ltd., the parent company behind Nykaa, saw its stocks rise over 7% on June 18, touching a new 52-week high of ₹301 following the announcement of a comprehensive long-term growth strategy by the beauty and fashion retailer in its Annual Investor Day 2026 event.
Around 11:40 AM, the Nykaa share price was reported at ₹300.65 as investors expressed their optimism about the future prospects of the firm. It is worth noting that the stock has risen close to 50% in the last one year, underpinned by improving profitability and strong performance in the company's beauty business.
Nykaa Targets 2-3X Revenue Growth by FY30
Nykaa projects itself to grow its top-line revenues at 2x to 3x levels during the upcoming four years, leading to 4x to 5x EBITDA levels of growth. As per their guidance, they have planned for an EBITDA margin in the range of low-teen to mid-teen percentages by FY30, considering 7.5% in FY26 as base.
As stated by Nykaa, this growth will be fueled by sound execution, operating leverage, and capital-light investments. They plan to keep ROCE above 40% while creating shareholder value sustainably.
Beauty Business to Remain Key Growth Engine
GMV of close to ₹15,000 crore was recorded for Nykaa’s beauty vertical, which is its biggest business vertical, in FY26. Now, the company wants to see 2x to 3x growth in the beauty GMV numbers through FY30, along with healthy EBITDA margins of double digits.
The firm intends to almost double its number of consumers for the beauty vertical from the current level of 45 million as of FY26 to 100 million for FY30. Growth would happen on account of greater reach in Tier-II and Tier-III cities, better engagement with Gen Z and Gen Alpha consumers, creation of more vernacular content, creation of products from creators, and expanding its physical retail presence.
Nykaa already has 313 beauty stores operating in 99 cities after adding 76 stores last year in FY26. For FY30, it expects its store count to go up to more than 600 across the country.
Fashion, House of Nykaa and Superstore Expansion Plans
The fashion segment of Nykaa's business, which clocked GMV of ₹4,954 crore in FY26, is poised for 3x-3.5x growth in the period till FY30. High-single digit EBITDA margin is the target for this segment in the interim period, with over 10% steady state profitability planned for the longer term. Growth would be fueled by premium products like Hidden Gems, Global Store and Luxe along with AI-powered discovery and personalization.
House of Nykaa, Nykaa's owned brands segment, plans to register net sales value worth more than ₹5,000 crore in FY30 from its current estimate of ₹3,176 crore in FY26.
Superstore, the B2B segment of Nykaa, partnered with over 200 brands and servicing over 494,000 retailers registered GMV of ₹1,187 crore in FY26. In the FY26-FY30 period, Nykaa plans to take its GMV past ₹3,500 crore mark from partnering with over 1 million retailers.
Strong Industry Tailwinds Support Outlook
Nykaa anticipates the Indian beauty, personal care, and fashion industries to enter a high growth phase. The projections made by Nykaa indicate a doubling of spendings by the beauty and fashion industry in India, growing from USD 110 billion in FY26 to approximately USD 200 billion by FY31 at a growth rate exceeding 12% CAGR.
The positive projection comes on the heels of a successful performance in FY26 where Nykaa grew its GMV by 28%, its revenue by 26%, and achieved a profit after tax of ₹204 crore. The beauty segment was positively driven by increased demand in premium, luxury, Korean beauty, and dermacosmetic products. Over 200 brands were added within this year alone.
