Nykaa shares surge 9% in 2 days to hit new 52-week high after strong Q2FY26 update

Shares of Nykaa (FSN E-Commerce Ventures Ltd) rose for the second consecutive session on Tuesday, gaining 8.8% over two days to touch a new 52-week high of Rs 239.85 on the BSE. The stock advanced after the company released its Q2 FY2026 business update, indicating continued momentum across both its beauty and fashion verticals.

In its quarterly update, Nykaa said that its consolidated gross merchandise value (GMV) growth is expected to be close to the thirties in Q2 FY2026, compared with growth in the mid-twenties seen over the last few quarters.

The company attributed the performance to renewed growth in the fashion segment and sustained strength in the beauty vertical.

Nykaa’s beauty vertical is expected to deliver net sales value (NSV) and net revenue growth in the mid-twenties, marking more than ten consecutive quarters of sustained growth. The company said that the continued momentum was supported by strong performance from both acquired and homegrown brands, including Dot & Key, Kay Beauty, and Nykaa Cosmetics.

In the fashion vertical, Nykaa expects NSV growth in the higher mid-twenties, supported by strong traction in its core platform business. The company said this was led by an expanding brand assortment and improved customer acquisition. The net revenue growth for the fashion segment is expected to improve to the low twenties, from the low to mid-teens recorded in recent quarters.

Nykaa also noted that net revenue growth was slightly lower than NSV growth due to a lag in advertising and marketing income.For the consolidated business, Nykaa said it has delivered another quarter of healthy performance, with consolidated net revenue growth expected to be in the mid-twenties during Q2 FY2026. The company said that an early start to the festive season contributed to the quarterly performance.Nykaa also referred to the recent GST reforms announced by the Government, stating that they were a welcome move toward stimulating demand. The company noted that these measures are expected to support higher disposable income levels and contribute to long-term growth across several consumer and discretionary categories.

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