FSN E-Commerce Ventures Limited — Investor Meet, 14-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Nykaa's Q1 FY26 shows strong performance: GMV up 26% to 4,182 Cr, Net Revenue up 23% to 2,155 Cr, and PAT jumped 79% to 24 Cr. Beauty GMV grew 26% to 3,208 Cr with improving 9% EBITDA. Fashion GMV rose 25% to 964 Cr, significantly cutting EBITDA loss to -6.2%. Management is confident about continued market-beating growth and profitability, driven by customer acquisition and strategic omnichannel initiatives including 250+ stores. Owned brands like Dot & Key (1,500 Cr annualized GMV, high teen EBITDA) are excelling, with Kay Beauty going global. Fashion aims for breakeven this year.