FSN E-Commerce Ventures Limited — Investor Meet, 09-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Nykaa (FSN E-Commerce) Q3FY26 performance shows strong growth and record profitability. Consolidated GMV rose 28% to 5,795 Cr, with Net Revenue up 27% to 2,873 Cr. EBITDA hit a new high of 230 Cr (+63% YoY), achieving an 8.0% margin. PAT surged 156% to 68 Cr. Beauty GMV grew 27%, Fashion GMV 31%, with Fashion's EBITDA improving to -2.0%. Own brands' annualized GMV reached 3,500 Cr (+48%). Nykaa deepened partnerships with L'Oreal (exclusive brands, Kiehl's operations) and Nike (full-stack D2C). Management maintains confidence in sustainable growth and improving efficiencies.