Nykaa Touches Fresh 52-Week High After Strong Q4 Performance
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Shares of Nykaa parent FSN E-Commerce Ventures rose over 4% to touch a 52-week high of ₹285.65 during intraday trading on the BSE today, a day after the company reported its fourth quarter performance.
However, shares of Nykaa shed some gains to stand at ₹275.30 apiece (up 0.33%), as of 13:26 IST. Market capitalisation stood at ₹78,259.67 Cr ($8.15 Bn).
In Q4 FY26, the BPC major consolidated net profit surged 4X to ₹78.8 Cr, from ₹19.1 Cr in the year-ago quarter. The bottomline growth is credited to its increasing revenue, where operating revenue for the quarter rose 28% to ₹2,648.2 Cr from ₹2,061.8 Cr, remarkably the highest YoY jump in top line over the past 12 quarters.
Aligning with its strong topline performance, its expenses also surged 25% YoY to ₹2,535.8 Cr.
For the full fiscal yearFY26, Nykaa’s profit grew 182% to ₹203.9 Cr from ₹72.1 Cr, while operating revenue grew 26% YoY to ₹10,022.4 Cr.
In the reported year, Nykaa’s same store sales saw a double digit growth, while it added 76 new stores, driving its overall store count to 313 outlets, and it entered into 20 new cities in FY26.
Betting on Nykaa’s strong beat in topline and margins, brokerages like Morgan Stanley, HSBC, Citi and CLSA shared largely positive outlooks towards the stock.
Morgan Stanley maintained its rating on the stock as “overweight” and its target price to ₹286 per share, and said that it is seeing improving marketing efficiency in Nykaa’s fashion business. Further, Jefferies raised its target price on the stock to ₹350, while maintaining the rating as “Buy”.
Meanwhile, Motilal Oswal maintained a “Neutral” stance on Nykaa, assigning a price target of ₹300 to the stock. The brokerage attributed strong share performance over the past year as the reason for its outlook.
“We believe much of the growth is now reflected in valuations, and following the strong share price performance over the past year, the near-term risk-reward appears balanced,” the brokerage said.
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