FSN E-Commerce Ventures Ltd.
NYKAAConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 1 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220603 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220816 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221107 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230217 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230531 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230817 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231110 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240213 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240527 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240821 | 2024-06-30 | yes | |
| COVER_LETTER | 20241115 | 2024-09-30 | no | |
| TRANSCRIPT | 20250213 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250604 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250814 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251112 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260209 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260526 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260807 | 2026-06-30 | yes |
NYKAA
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 335.30 |
| 52-week range | 230.62 – 349.55 |
| Return 1M | 0.39% |
| Return 3M | 11.27% |
| Return 1Y | 41.45% |
| Return 3Y | 135.22% |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,782.00 |
| Other income | 9.00 |
| Total income | 2,791.00 |
| Cost of materials consumed | 4.00 |
| Purchases of stock-in-trade | 1,758.00 |
| Changes in inventories | -256.00 |
| Employee benefit expense | 225.00 |
| Finance costs | 27.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.52 | -0.00 |
| institutions foreign | 0.14 | 0.01 |
| institutions domestic | 0.24 | -0.01 |
| mutual funds | 0.19 | -0.01 |
| public | 0.48 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2024-09-30 | 1 |
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,231.00 | 1,463.00 | 1,302.00 | 1,422.00 | 1,507.00 | 1,789.00 | 1,668.00 | 1,746.00 | 1,875.00 | 2,267.00 | 2,062.00 | 2,155.00 | 2,346.00 | 2,873.00 | 2,648.00 | 2,782.00 |
| Other income | 6.00 | 6.00 | 10.00 | 7.00 | 9.00 | 8.00 | 7.00 | 7.00 | 5.00 | 6.00 | 9.00 | 9.00 | 8.00 | 6.00 | 9.00 | 9.00 |
| Total income | 1,237.00 | 1,468.00 | 1,311.00 | 1,429.00 | 1,516.00 | 1,796.00 | 1,675.00 | 1,753.00 | 1,880.00 | 2,273.00 | 2,071.00 | 2,164.00 | 2,354.00 | 2,880.00 | 2,657.00 | 2,791.00 |
| Cost of materials consumed | 22.00 | 17.00 | 97.00 | 19.00 | 16.00 | 24.00 | 7.00 | 3.00 | 1.00 | 3.00 | 1.00 | 3.00 | 0.00 | 2.00 | 9.00 | 4.00 |
| Purchases of stock-in-trade | 586.00 | 919.00 | 602.00 | 978.00 | 553.00 | 1,232.00 | 1,018.00 | 1,172.00 | 1,086.00 | 1,285.00 | 1,140.00 | 1,444.00 | 1,197.00 | 1,505.00 | 1,573.00 | 1,758.00 |
| Changes in inventories | 65.00 | -107.00 | 27.00 | -194.00 | 289.00 | -228.00 | -68.00 | -184.00 | -34.00 | -12.00 | 11.00 | -254.00 | 96.00 | 69.00 | -137.00 | -256.00 |
| Employee benefit expense | 122.00 | 128.00 | 127.00 | 139.00 | 136.00 | 148.00 | 142.00 | 156.00 | 161.00 | 175.00 | 174.00 | 182.00 | 183.00 | 203.00 | 204.00 | 225.00 |
| Finance costs | 20.00 | 20.00 | 19.00 | 19.00 | 21.00 | 22.00 | 21.00 | 21.00 | 24.00 | 32.00 | 30.00 | 30.00 | 31.00 | 29.00 | 26.00 | 27.00 |
| Depreciation and amortisation | 39.00 | 51.00 | 53.00 | 52.00 | 55.00 | 58.00 | 60.00 | 60.00 | 64.00 | 70.00 | 73.00 | 76.00 | 79.00 | 81.00 | 84.00 | 89.00 |
| Other expenses | 375.00 | 429.00 | 378.00 | 407.00 | 433.00 | 514.00 | 475.00 | 504.00 | 556.00 | 676.00 | 602.00 | 639.00 | 712.00 | 865.00 | 777.00 | 815.00 |
| Total expenses | 1,229.00 | 1,456.00 | 1,303.00 | 1,419.00 | 1,502.00 | 1,770.00 | 1,655.00 | 1,731.00 | 1,859.00 | 2,228.00 | 2,031.00 | 2,121.00 | 2,298.00 | 2,754.00 | 2,536.00 | 2,662.00 |
| Profit before exceptional items and tax | 9.00 | 13.00 | 9.00 | 10.00 | 13.00 | 26.00 | 20.00 | 22.00 | 21.00 | 45.00 | 40.00 | 44.00 | 56.00 | 126.00 | 122.00 | 129.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1.00 | -16.00 | 0.00 | 0.00 |
| Profit before tax | 9.00 | 13.00 | 9.00 | 10.00 | 13.00 | 26.00 | 20.00 | 22.00 | 21.00 | 45.00 | 40.00 | 44.00 | 55.00 | 110.00 | 122.00 | 129.00 |
| Current tax | 22.00 | 27.00 | 26.00 | 24.00 | 22.00 | 31.00 | 31.00 | 42.00 | 21.00 | 32.00 | -54.00 | 18.00 | 21.00 | 28.00 | 71.00 | 54.00 |
| Deferred tax | -18.00 | -24.00 | -22.00 | -20.00 | -18.00 | -23.00 | -21.00 | -34.00 | -13.00 | -14.00 | 74.00 | 2.00 | 1.00 | 14.00 | -28.00 | -4.00 |
| Tax expense | 3.00 | 3.00 | 4.00 | 3.00 | 4.00 | 8.00 | 10.00 | 8.00 | 8.00 | 18.00 | 20.00 | 19.00 | 22.00 | 42.00 | 43.00 | 49.00 |
| Profit for the period | 5.00 | 8.00 | 2.00 | 5.00 | 8.00 | 17.00 | 9.00 | 14.00 | 13.00 | 26.00 | 19.00 | 24.00 | 33.00 | 68.00 | 79.00 | 80.00 |
| Profit attributable to owners | 4.00 | 8.00 | 2.00 | 3.00 | 6.00 | 16.00 | 7.00 | 10.00 | 10.00 | 26.00 | 20.00 | 23.00 | 34.00 | 63.00 | 78.00 | 80.00 |
| Profit attributable to non-controlling interests | 1.00 | 0.00 | -0.00 | 2.00 | 2.00 | 1.00 | 2.00 | 4.00 | 3.00 | 0.00 | -1.00 | 1.00 | -1.00 | 4.00 | 0.00 | -0.00 |
| Other comprehensive income | 1.00 | 0.00 | -0.00 | 0.00 | -1.00 | -0.00 | 1.00 | 0.00 | -2.00 | -0.00 | -2.00 | 0.00 | 2.00 | 0.00 | 2.00 | 0.00 |
| Total comprehensive income | 6.00 | 9.00 | 2.00 | 6.00 | 7.00 | 17.00 | 10.00 | 14.00 | 11.00 | 26.00 | 17.00 | 25.00 | 35.00 | 68.00 | 81.00 | 80.00 |
| Earnings per share, basic | 0.09 | 0.03 | 0.01 | 0.02 | 0.02 | 0.06 | 0.02 | 0.03 | 0.04 | 0.09 | 0.07 | 0.08 | 0.12 | 0.22 | 0.27 | 0.28 |
| Earnings per share, diluted | 0.09 | 0.03 | 0.01 | 0.02 | 0.02 | 0.06 | 0.02 | 0.03 | 0.04 | 0.09 | 0.07 | 0.08 | 0.12 | 0.22 | 0.27 | 0.28 |
Annual results, as filed
| Line | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 3,774.00 | 5,144.00 | 6,386.00 | 7,950.00 | 10,022.00 |
| Other income | 27.00 | 30.00 | 30.00 | 27.00 | 33.00 |
| Total income | 3,801.00 | 5,174.00 | 6,416.00 | 7,977.00 | 10,055.00 |
| Cost of materials consumed | 84.00 | 159.00 | 65.00 | 8.00 | 15.00 |
| Purchases of stock-in-trade | 2,408.00 | 2,848.00 | 3,782.00 | 4,683.00 | 5,719.00 |
| Changes in inventories | -362.00 | -142.00 | -200.00 | -219.00 | -227.00 |
| Employee benefit expense | 326.00 | 492.00 | 565.00 | 666.00 | 772.00 |
| Finance costs | 47.00 | 75.00 | 83.00 | 107.00 | 117.00 |
| Depreciation and amortisation | 96.00 | 173.00 | 224.00 | 266.00 | 320.00 |
| Other expenses | 1,155.00 | 1,530.00 | 1,828.00 | 2,337.00 | 2,992.00 |
| Total expenses | 3,754.00 | 5,136.00 | 6,347.00 | 7,850.00 | 9,707.00 |
| Profit before exceptional items and tax | 47.00 | 38.00 | 69.00 | 127.00 | 348.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | -17.00 |
| Profit before tax | 47.00 | 38.00 | 69.00 | 127.00 | 330.00 |
| Current tax | 45.00 | 86.00 | 107.00 | 42.00 | 137.00 |
| Deferred tax | -39.00 | -73.00 | -81.00 | 12.00 | -11.00 |
| Tax expense | 6.00 | 14.00 | 25.00 | 54.00 | 126.00 |
| Profit for the period | 41.00 | 21.00 | 40.00 | 72.00 | 204.00 |
| Profit attributable to owners | 41.00 | 19.00 | 32.00 | 66.00 | 199.00 |
| Profit attributable to non-controlling interests | 0.00 | 2.00 | 7.00 | 6.00 | 4.00 |
| Other comprehensive income | 1.00 | 0.00 | 0.00 | -4.00 | 5.00 |
| Total comprehensive income | 42.00 | 21.00 | 40.00 | 68.00 | 209.00 |
| Earnings per share, basic | 0.88 | 0.07 | 0.11 | 0.23 | 0.70 |
| Earnings per share, diluted | 0.87 | 0.07 | 0.11 | 0.23 | 0.70 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 2,886.00 | 2,950.00 | 3,136.00 | 3,401.00 | 3,723.00 | 3,980.00 | 4,332.00 | 4,611.00 |
| Non-current assets | 1,073.00 | 1,044.00 | 1,054.00 | 1,108.00 | 1,193.00 | 1,302.00 | 1,329.00 | 1,422.00 |
| Current assets | 1,813.00 | 1,906.00 | 2,082.00 | 2,293.00 | 2,531.00 | 2,677.00 | 3,004.00 | 3,189.00 |
| Property, plant and equipment | 578.00 | 543.00 | 508.00 | 497.00 | 514.00 | 602.00 | 658.00 | 300.00 |
| Capital work-in-progress | 11.00 | 2.00 | 1.00 | 6.00 | 2.00 | 3.00 | 5.00 | 9.00 |
| Goodwill | 79.00 | 61.00 | 61.00 | 61.00 | 61.00 | 98.00 | 98.00 | 98.00 |
| Other intangible assets | 66.00 | 94.00 | 101.00 | 110.00 | 106.00 | 136.00 | 124.00 | 149.00 |
| Inventories | 933.00 | 1,005.00 | 1,094.00 | 1,192.00 | 1,411.00 | 1,418.00 | 1,573.00 | 1,642.00 |
| Trade receivables | 126.00 | 164.00 | 176.00 | 242.00 | 255.00 | 247.00 | 259.00 | 289.00 |
| Cash and cash equivalents | 26.00 | 41.00 | 26.00 | 76.00 | 84.00 | 125.00 | 113.00 | 177.00 |
| Total equity and liabilities | 2,886.00 | 2,950.00 | 3,136.00 | 3,401.00 | 3,723.00 | 3,980.00 | 4,332.00 | 4,611.00 |
| Equity | 1,371.00 | 1,392.00 | 1,410.00 | 1,281.00 | 1,334.00 | 1,343.00 | 1,439.00 | 1,502.00 |
| Equity share capital | 47.00 | 285.00 | 285.00 | 286.00 | 286.00 | 286.00 | 286.00 | 286.00 |
| Other equity | 1,314.00 | 1,093.00 | 1,106.00 | 977.00 | 1,019.00 | 1,015.00 | 1,102.00 | 1,152.00 |
| Total liabilities | 1,516.00 | 1,558.00 | 1,726.00 | 2,120.00 | 2,390.00 | 2,637.00 | 2,893.00 | 3,109.00 |
| Non-current liabilities | 473.00 | 360.00 | 188.00 | 241.00 | 244.00 | 476.00 | 308.00 | 351.00 |
| Current liabilities | 1,043.00 | 1,198.00 | 1,539.00 | 1,879.00 | 2,146.00 | 2,161.00 | 2,585.00 | 2,758.00 |
| Borrowings, non-current | 1.00 | 0.00 | 0.00 | 0.00 | 62.00 | 110.00 | 33.00 | 18.00 |
| Borrowings, current | 486.00 | 460.00 | 660.00 | 680.00 | 939.00 | 851.00 | 957.00 | 729.00 |
| Trade payables | 179.00 | 265.00 | 288.00 | 387.00 | 546.00 | 635.00 | 691.00 | 732.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | -334.00 | -140.00 | -89.00 | 0.00 | 81.00 | 467.00 | 129.00 | 644.00 |
| Net cash from investing activities | 226.00 | 140.00 | -33.00 | -10.00 | -312.00 | -205.00 | -60.00 | -159.00 |
| Net cash from financing activities | 96.00 | 5.00 | 107.00 | 44.00 | 239.00 | -212.00 | -81.00 | -433.00 |
| Purchase of property, plant and equipment | 120.00 | 208.00 | 52.00 | 111.00 | 47.00 | 127.00 | 77.00 | 154.00 |
| Net increase in cash | -11.00 | 4.00 | -15.00 | 34.00 | 8.00 | 49.00 | -12.00 | 52.00 |
| con:CFO.BEFORE_TAX | -302.00 | -45.00 | -19.00 | 131.00 | 101.00 | 526.00 | 188.00 | 779.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | -11.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 32.00 | 95.00 | 59.00 | 131.00 | 20.00 | 60.00 | 59.00 | 135.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 42.00 | 0.00 | 0.00 | 0.00 | 29.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.00 | 2.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 33.00 | 29.00 | 0.00 | 0.00 | 265.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 52.28 | 52.28 | 52.26 | 52.24 | 52.22 | 52.20 | 52.18 | 52.16 | 52.16 | 52.14 | 0.52 | 0.52 | 0.52 | 0.52 |
| Domestic institutions | 7.85 | 11.59 | 14.31 | 15.25 | 17.16 | 18.29 | 21.84 | 23.56 | 25.20 | 23.65 | 0.25 | 0.25 | 0.25 | 0.24 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 18.26 | 0.19 | 0.20 | 0.20 | 0.19 |
| Insurance companies | 2.42 | 2.75 | 3.28 | 4.10 | 4.56 | 4.75 | 4.56 | 5.05 | 5.22 | 4.90 | 0.05 | 0.05 | 0.05 | 0.05 |
| Foreign institutions | 12.26 | 10.04 | 9.84 | 10.65 | 10.32 | 10.48 | 10.13 | 9.04 | 8.83 | 11.64 | 0.13 | 0.12 | 0.12 | 0.14 |
| Government | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | — | 0.00 |
| Public | 47.72 | 47.72 | 47.74 | 47.76 | 47.78 | 47.80 | 47.82 | 47.84 | 47.84 | 47.86 | 0.48 | 0.48 | 0.48 | 0.48 |
| Non-institutional | 27.61 | 26.09 | 23.60 | 21.86 | 20.30 | 19.02 | 15.84 | 15.23 | 13.80 | 12.58 | 0.10 | 0.10 | 0.10 | 0.10 |
| Shares outstanding | 2852446720 | 2852845606 | 2853733174 | 2854959880 | 2855985609 | 2856832397 | 2857937833 | 2859003883 | 2859252483 | 2860219992 | 2861279076 | 2862523756 | 2863227356 | 2863824106 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| FSN Brands Marketing Private Limited | Subsidiary Company | Any other transaction, Interest received, Loan, Purc | 7,381,000,000.00 | 21 |
| Dot and Key Wellness Private Limited | Fellow Subsidiary Company | Any other transaction, Investment, Purchase of goods | 3,438,700,000.00 | 12 |
| Nykaa Fashion Limited | Subsidiary Company | Any other transaction, Interest received, Loan, Sale | 3,167,300,000.00 | 17 |
| FSN Distribution Limited | Subsidiary Company | Any other transaction, Interest received, Loan, Purc | 2,142,100,000.00 | 21 |
| Nykaa E-Retail Limited | Subsidiary Company | Any other transaction, Interest received, Loan, Sale | 1,667,400,000.00 | 9 |
| Illuminar Media Limited | Fellow Subsidiary Company | Any other transaction, Interest received, Investment | 968,200,000.00 | 6 |
| Nykaa-KK Beauty Private Limited | Subsidiary Company | Any other transaction, Interest received, Loan, Purc | 594,500,000.00 | 11 |
| FSN International Limited | Subsidiary Company | Any other transaction, Interest received, Investment | 240,300,000.00 | 14 |
| FSN INTERNATIONAL LIMITED | Subsidiary Company | Any other transaction, Investment | 179,800,000.00 | 2 |
| Nessa International Holdings Limited | Subsidiary Company | Any other transaction, Investment | 176,500,000.00 | 2 |
| Nysaa beauty LLC | Subsidiary Company | Any other transaction, Loan | 162,900,000.00 | 2 |
| Nessa International Holding Limited | Subsidiary Company | Any other transaction | 162,900,000.00 | 2 |
| APPAREL FZCO | Subsidiary Company | Investment | 129,700,000.00 | 1 |
| Nihir Parikh | Director | Any other transaction | 90,600,000.00 | 1 |
| Apparel LLC | Fellow Subsidiary Company | Any other transaction | 78,500,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-07 | Q1FY27 | (NYKAA), NYKAA FASHION, VENTURES LIMITED (NYKAA) | Read the call |
| 2026-05-26 | Q4FY26 | (NYKAA), VENTURES LIMITED (NYKAA) | Read the call |
| 2026-02-09 | Q3FY26 | CHIEF EXECUTIVE OFFICER, BEAUTY | Read the call |
| 2025-11-12 | Q2FY26 | (NYKAA), VENTURES LIMITED (NYKAA) | Read the call |
| 2025-08-14 | Q1FY26 | NYKAA DISTRIBUTION | Read the call |
| 2025-06-04 | FYFY25 | (NYKAA), COMMERCE VENTURES LIMITED (NYKAA), E-COMMERCE VENTURES LIMITED (NYKAA), VENTURES | Read the call |
| 2025-02-13 | Q3FY25 | Read the call | |
| 2024-08-21 | Q1FY25 | E-COMMERCE VENTURES LIMITED (NYKAA), VENTURES LIMITED (NYKAA) | Read the call |
| 2024-05-27 | Q4FY24 | Read the call | |
| 2024-02-13 | Q3FY24 | Read the call | |
| 2023-02-17 | Q3FY23 | FSN E-COMMERCE VENTURES LIMITED | Read the call |
| 2022-11-07 | Q2FY23 | NYKAA INTERNATIONAL | Read the call |
| 2022-08-16 | Q1FY23 | Read the call | |
| 2022-06-03 | Q4FY22 | Adwaita Nayar, Anchit Nayar, Arvind Agarwal, Falguni Nayar | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY24 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | Moving ahead, we continue to invest in beauty stores rollout, fulfilment capabilities and tech while driving efficiencies in our capex utilization, wh… | As we can see, depreciation increased Y-o- Y on account of incremental CAPEX in retail stores, warehouses as well as office space. | — | — | And this is also something that is, I would say, it can be quickly expanded given its low CapEx and low fixed cost model. | — | Earnings Conference Call done which again you will see in the next slide where we can see that overall Capex is significantly lower in FY24 versus wha… | Our capex utilization here, as we can see, has become more efficient, and it currently stands at about 1% of revenue. |
| Capital allocation | So we are continuing to accelerate our customer acquisition. | So, assortment, retention of customers and new customer acquisition and finally, product features that can drive discovery and conversion rate. | — | A lot of the growth has been driven by a big investment which we've made over the past several quarters, something which we've discussed with the comm… | This I want to point out that this quarter saw marquee brand wins like H&M, and also robust customer acquisition and strong festive sales, which all l… | One is accelerated customer acquisition, leading to higher marketing costs. | — | And from Nykaa Fashion perspective, we are a number one destination for trend first style forward consumers, now serving almost 11 million customers w… |
| Costs | — | — | — | — | — | — | — | A relative question out here is, how should we look at the inference cost, adding some pressures to the margins? |
| Debt and cash | Our working capital efficiencies have continued to pan out, and now it's close to 1 month in terms of net working capital days. | Interest on borrowings during the quarter increased on account of incremental borrowing, which was obtained to fulfil working capital requirement quar… | — | Working capital days have been consistently reducing and have come down to 36 days. | FSN E-Commerce Ventures Limited (Nykaa) February 05, 2026 Our working capital days have been consistently improving over time, and this is now at 30 d… | But that's more deleverage because of lower scale of revenue. | To sum up the financials, we have a summary of the balance sheet and cash flow. | Working capital days, as you can see, has improved further from an already healthy 34 days to even better at 28 days now, driven by both inventory as … |
| Demand | FSN E-Commerce Ventures Limited (Nykaa) November 07, 2025 And in fashion, some adversity at high end, but some benefit at the low end on demand pickup… | Both dot com and the retail businesses saw good consumer demand and some of the consumer rebalancing of demand has happened from online to offline, bu… | — | The number of brands supplying that demand is also very wide. | I'm happy to say that Nykaa Now has stabilized quite nicely, and it has picked up in terms of the demand and the awareness for the Nykaa Now offering. | Similarly, in January, again, there were COVID fears for Omicron and a lot of celebratory weddings and many other things were canceled, leading to, ag… | — | — |
| Guidance | Can we expect the same trajectory this time as well? | And hence, we are guiding everyone to look at it on a 9-month basis. | — | Ganesh, do we expect that this reduction in working capital days is representative of full year? | So, this store format is definitely playing out the way we expected, which is to have a much wider appeal than just our target female audiences. | I don't know how to guide you on that, but because it's not just performance and brand, there are also support and fixed costs of managing the market … | If you could just help us understand whether these items that we are talking about; the ESOP expenses, and GCC business or other ex-corporate restruct… | The second big trend we're seeing in the beauty space over the past several years and which we expect to continue going forward is the trend of dermac… |
| Margin | Again, similarly, the highest gross margin over the last 12 quarters. | We can get into the details of the gross margin as well as the composition of the EBITDA growth and PBT as we go through this presentation. | On the EBITDA basis, our EBITDA came out at Rs 988 million, a 26% year-on-year growth. | And the EBITDA has also come out at a pretty healthy level of INR140.8 crores, which is a 42% year-on-year growth. | On the EBITDA, too, we are happy to say that the EBITDA is at about INR 230 crores for the quarter, which is 8.0% of net revenue and a 63% year-on-yea… | And our gross margins have come out at 43.6%, which is a very healthy gross margin for the consolidated firm. | What is very interesting is also below that line, EBITDA at Rs 93.3 crores for the quarter is a 32% year on year growth and the margins are at 5.6% an… | One of the highest gross margin ever in the last 14 quarters. |
| People | So just wanted to get your sense on whether it's been really driven by the significant expansion in onboarding new brand partners, which is the key dr… | — | — | Yes, here, as you can see, Nykaa continues to focus on prudent capital utilization. | — | — | — | — |
| Pricing | Why do we believe that Korean brands are going to spearhead the adoption of skin care and makeup in the coming years in India is because of the afford… | We reflect their catalog availability and pricing on our side with minimal manual effort. | — | — | So, I think there is probably a benefit to, not only to us, but to our international to our global brand partners in terms of the kind of additional v… | — | — | But yes, some of it is a result of the weightage of each of the respective businesses within the vertical and on inflation and procurement cost, it is… |
| Revenue growth | So, we have invested behind customer acquisition, and that reflects in the Marketing and S&D expenses as a percent of NSV being at about 13.1% this qu… | So, here, I wanted to show the 9-month period where our GMV has seen a healthy growth of 42% year-on-year and stands at Rs. | — | So, the Beauty growth has come out at 32% year-on-year growth at INR3,389 crores. | And we are happy to say that the GMV growth has come out at around 28% year-on-year growth at INR 5,795 crores. | So with that, I'll start with the fact that we do believe that it's been a strong performance through the year, with our GMV growth at 71% which has t… | This has resulted in a healthy growth of gross profit to Rs 710 crores for the quarter and the margins have come out at 42.6%. | Again, the GMV growth was 28%, net revenue at 26% and we touched INR 10,000 crores net revenue for the first time ever, a $1 billion revenue mark. |