NYKAA

Nykaa reported 24% YoY revenue growth in Q1 FY26, driven by beauty and fashion segments. Strong traction from Tier-2 cities and exclusive brand launches boosted margins to 7%. Nykaa Fashion continues to gain traction with improved profitability. With its omni-channel strategy and loyal customer base, Nykaa is positioned well in India’s growing beauty market. At ~85x FY26 EPS, valuations are steep, but growth potential justifies long-term optimism.