FSN E-Commerce Ventures Limited — PPTs, 07-11-2025: Investor Presentation

**1. Business Performance:** Nykaa's Q2FY26 was strong: Revenue up 25% YoY to Rs 2,346 Cr, GMV surged 30% to Rs 4,744 Cr. PAT jumped 154% to Rs 33 Cr, EBITDA grew 53% to Rs 159 Cr (6.8% margin). Beauty and Fashion segments saw robust growth.

**2. Growth Drivers & Strategy:** Growth fueled by brand expansion, customer acquisition, and premiumization. Priorities: omnichannel reach, personalized beauty tech, Gen Z focus, and enhanced rapid delivery.

**3. Recent Developments:** Exclusive international & Korean beauty brand launches. Owned brands Dot & Key (Rs 1,500 Cr+ GMV run rate) and Kay Beauty (successful UK debut) are scaling. Nykaa Fashion debuted H&M.

**4. Key Financial Metrics:** Margins improved: EBITDA at 6.8% (+125 bps YoY), PAT at 1.4% (+71 bps YoY). Capital efficiency strengthened; ROCE reached 14.1%, working capital optimized to 31 days.

**5. Management Commentary / Outlook:** Capex optimization continues, paired with strategic investments in retail, fulfillment, and technology to capitalize on India's significant beauty market opportunity.