Street View: Strong beauty, fashion momentum boost growth for India's Nykaa

FSN E-Commerce Ventures

05/08/2026 07:10

Aug 5 (Reuters) - ** Nykaa parent FSN E-Commerce Ventures FSNE.NS posted a more than three-fold jump in Q1 profit on strong beauty business and a sharp acceleration in fashion sales
** Shares rose to a four-year high of 348 rupees before paring gains to trade 2.6% lower

BEAUTY SPARKLES, FASHION ACCELERATES
** J.P. Morgan ("neutral," PT: 315 rupees) says strong growth trajectory for beauty, backed by expanding transacting user base, is encouraging
** Jefferies ("buy," PT: 400 rupees) says Q1 was a "beautiful quarter" for FSNE, adding co had a strong beat across metrics
** Raises EBITDA estimates by 4%-8% and says while valuations are "punchy," they underpin strong growth expectations
** Dolat Capital ("reduce," PT: 330 rupees) says Q1 performance was robust and shows co is on track to achieve its FY30 outlook but says execution remains key
** Ambit Capital ("buy," PT: 379 rupees) says it likes Nykaa for its beauty and personal care business's execution and market share gains along with acceleration in fashion business and its inflection to profitability
     

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com; 8800437922))