NYKAA Results Analysis

Operating Revenue for Q2FY26 is Rs. 2,346 Crs., 25.14% growth YoY, Total Income is Rs. 2,354 Crs., 25.2% growth YoY, EBITDA is Rs. 159 Crs., 53.34% growth YoY, EBITDA Margin is 6.78% improved by 125 Basis points YoY, PBT Rs. 55 Crs., 160.5% growth YoY, PAT Rs. 33 Crs. 154% growth YoY. GMV: INR 4,744 cr (+30% YoY; highest YoY growth in six quarters) One Nykaa cumulative customers: 49 mn (+32% YoY) On QoQ basis Op. Revenue is up by 8.9%, Total Income is up by 8.8%, EBITDA is up by 13%, EBITDA Margin also improved by 25 basis points, PBT is up by 26.7% and PAT is also up by 34.8%. Strongest quarterly growth in six quarters with simultaneous peak profitability since IPO. Net working capital 1 month; ROCE 14.1% (nearly doubled over 3 years).