Nykaa shares rally 8% to hit 52-week high as firm expects 2-3x revenue growth by FY30

Nykaa parent firm FSN E-Commerce Ventures shares surged as much as 7.7% to touch their 52-week high of ₹302.8 apiece on Thursday, June 18, after the company announced its outlook till FY30.

In its annual report, the company outlined its ambition to build a beauty and lifestyle business exceeding $5 billion. Looking ahead to FY30, Nykaa expects a significant growth runway and targets 2–3x revenue growth, translating into 4–5x EBITDA growth, with EBITDA margins in the low- to mid-teens range.

The growth is expected to be driven by disciplined execution, operating leverage, and capital-efficient investments, Nykaa said, enabling sustained margin expansion and a ROCE of over 40% while continuing to create long-term value for shareholders.

Backed by a strong track record of execution, Nykaa at present addresses a lifestyle market exceeding $100 billion and serves 55 million consumers across beauty, fashion, wellness, and adjacent categories. Over the last six years, the company's GMV has grown more than 7X, with Beauty scaling 6X, Fashion 27X, and House of Nykaa 10X.

The omnichannel beauty and lifestyle company ended FY26 at ~₹15,000 crore GMV; The business has doubled both gross merchandise value (GMV) and revenue over the last three years while maintaining profitability.

With a GMV of ₹4,954 crore in FY26, Nykaa Fashion has, over the past three years, doubled both its GMV and NSV, while expanding its annual transacting customer base from 2.5 million to 4.3 million. By FY30, it aims to grow GMV by 3-3.5X with potential high single-digit EBITDA margins and progressing towards 10%+ steady-state profitability.

House of Nykaa Beauty has emerged as one of India’s largest beauty brand portfolios. The company stated that over the past decade, it has built and scaled differentiated brands through profound consumer insights, innovation, and omnichannel distribution, with GMV reaching ₹2,788 crore in FY26—nearly 10x growth over the last six years.

“As India’s beauty and personal care market expands, House of Nykaa is well positioned to capture the next wave of growth. With an ambition to surpass ₹5,000 crore NSV by FY30, the business will focus on building multiple scaled brands through organic and inorganic initiatives, expanding into high-growth categories, and driving premiumization,” Nykaa said.

Further, Superstore by Nykaa segment aims to surpass ₹3,500 crore GMV by FY30 and reach over 1 million retailers across India.

Here’ what management said

Commenting on Nykaa’s vision, Falguni Nayar, Executive Chairperson, Founder, and CEO of Nykaa, said, "Over the years, we have systematically expanded our addressable market, moving into adjacent categories and capturing a larger share of consumer spend. Wellness is the next major opportunity, and one we believe is a natural extension of our journey.”

Nayar further said that as consumers increasingly adopt a more holistic approach to self-care, the convergence of beauty, wellness, and longevity is creating a significant growth opportunity. He added that technology is expected to play a key role in the company’s next phase of growth by enhancing discovery and personalization, while improving speed, productivity, and decision-making across the organization.

“The next decade will be a defining one for India’s lifestyle economy. As India progresses towards an $8–10 trillion economy by FY36, rising affluence, digital adoption, and evolving aspirations will drive higher discretionary spending across beauty, fashion, and lifestyle. This expanding opportunity positions us well to serve 200 million cumulative consumers by FY36,” said Nayar.

Nykaa share price trends

At 12:05 PM, Nykaa shares were trading at ₹302.30 apiece on the National Stock Exchange, soaring 7.6%.

Over the past five trading sessions, shares of the company have gained 15%, while they have rallied 11% in a month. In the last six months, the stock has jumped 24%. From the beginning of the year, Nykaa shares have soared 14%.

Nykaa has a total market capitalisation of ₹86,716.59 crore, according to NSE data.