Nuvama maintained its Purchase ranking on Nykaa with a goal value of Rs 235, implying a 15% upside from the inventory’s final traded value. The brokerage stated market share good points stay a strategic precedence, with robust momentum within the Magnificence & Private Care phase and enhancing progress in Style.
It expects round 20% GMV progress and margin enlargement, supported by narrowing losses within the Style and eB2B companies. Nevertheless, Nuvama trimmed earnings estimates for FY26 and FY27 by 10% and 12%, respectively, attributable to greater tax assumptions.
JM Monetary reiterated its Purchase name and raised its goal value to Rs 260 from Rs 250, implying a possible upside of 27.5% from the final traded value.
The brokerage famous that Nykaa delivered sturdy progress regardless of a tepid demand surroundings, with the Magnificence & Private Care vertical posting 26% GMV progress and offline retail rising 33% year-on-year.
JM Monetary expects an accelerated enchancment in consolidated EBITDA margins, pushed by greater profitability in core magnificence operations and declining losses in Style and eB2B.
Q1 efficiency helps outlook
Nykaa reported a 79% year-on-year soar in consolidated web revenue to Rs 24 crore for the quarter ended June 30, 2025, on a 23% improve in income from operations to Rs 2,155 crore.
GMV grew 26% to Rs 4,182 crore, with the Magnificence vertical contributing Rs 3,208 crore. EBITDA rose 46% from a yr earlier, with margins increasing to six.5% from 5.5%.
The Home of Nykaa Magnificence enterprise now accounts for 18% of the corporate’s general magnificence GMV, stated Falguni Nayar, founder and CEO of Nykaa.
“Since our IPO, we’ve got persistently delivered mid-20s progress at a consolidated stage. Our cumulative buyer base now stands at 45 million, reflecting the rising belief and adoption of our platform,” Nayar added.
Additionally learn | Nykaa Q1 Outcomes: Cons PAT soars 79% YoY to Rs 24 crore, income jumps 23%
(Disclaimer: Suggestions, strategies, views, and opinions given by the consultants are their very own. These don’t symbolize the views of The Financial Occasions)
