Nykaa targets $5B GMV by FY30 at investor day, plans to double beauty customer base to 100 million. Stock hits new 52-week high of ₹301, up 7%.
Alpha Score of 61 reflects moderate overall profile with strong momentum, strong value, weak quality, moderate sentiment.
Nykaa parent FSN E-Commerce Ventures Ltd laid out a five-year growth plan at its investor day Wednesday, targeting gross merchandise value of more than $5 billion by FY30. The stock rose 7% Thursday to a new 52-week high of ₹301 on the National Stock Exchange.
The company expects overall business to grow 2.5 to 3 times current levels by FY30, driven by its core beauty platform, fashion business, retail stores and owned brands. Beauty GMV stood at roughly ₹15,000 crore in FY26, about double the level from three years earlier.
Nykaa plans to more than double its beauty customer base to 100 million by FY30 from about 45 million in FY26. The company said it will target deeper penetration in tier-II and tier-III cities, greater engagement with Gen Z and Gen Alpha consumers, vernacular content, creator-led discovery and expansion of its physical store footprint.
The fashion business, while smaller than beauty, is expected to be one of the fastest-growing segments alongside the B2B platform Superstore and the portfolio of in-house brands. Mint reported earlier this week on how Nykaa Fashion's turnaround is taking shape.
Nykaa ended FY26 with 313 stores across 99 cities, after adding 76 stores during the year. The retail network is expected to grow substantially by FY30, the company said.
India's beauty and personal care and fashion categories are forecast to grow at more than 12% CAGR between FY26 and FY31, with combined spending expected to nearly double to about $200 billion by FY31 from $110 billion in FY26, Nykaa highlighted.
The projections follow a year where Nykaa reported 28% GMV growth and 26% revenue growth, with Ebitda margin reaching 7.5% and profit after tax rising to ₹204 crore. The beauty business benefited from growing demand for premium, luxury and Korean beauty products. The company launched more than 200 brands during FY26 and said Korean beauty and dermacosmetics were among the fastest-growing segments on its platform.
The stock has gained about 50% over the past year, with investors rewarding the company's improving profitability and sustained growth in its core beauty business after a prolonged period of post-listing underperformance.
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