Arthneeti
Latest: FSN E-Commerce Q1 FY27 results →All Q2 FY26 results →
FE

FSN E-Commerce

Q2 FY26

FSN E-Commerce Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹345
Market cap₹98.8K Cr
P/E371.2
Updated16 Oct 2026
Read3 min read

The short version

Nykaa expects significant upside and growth potential in the fashion business, which is still in early stages compared to beauty. Nykaa Fashion is in early stages of tech sophistication and brand engagement, indicating significant upside potential and growth opportunities in coming quarters.

From FSN E-Commerce's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Nykaa expects significant upside and growth potential in the fashion business, which is still in early stages compared to beauty.
  • Fashion is witnessing strong new customer acquisition across segments (women, kids, men, home) growing at 70-80% YoY.
  • The company foresees continued momentum in fashion sales, with no major AOV (Average Order Value) dilution expected despite onboarding new brands like H&M.
  • Beauty vertical remains robust with 27-28% NSV growth and ongoing investments to drive penetration in India’s low beauty market.
  • Nykaa plans to expand its House of Brands internationally, starting measured growth in overseas markets like the UK.

2 more points from FSN E-Commerce's call on revenue

Create a free account to keep reading this call

Profitability & Margins

See what FSN E-Commerce said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Nykaa has invested INR 58 crores in capex during H1 FY '26, primarily towards:
  • Expansion of the beauty store network
  • Enhancements in tech capabilities
  • Current capex utilization has improved, now at 1% of revenue during H1 FY '26
  • Continued investment in:
  • Beauty stores rollout
  • Fulfilment capabilities

2 more points from FSN E-Commerce's call on capex

Create a free account to keep reading this call

Fundraising & Capital Structure

See what FSN E-Commerce said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The discussion primarily focuses on: - Quarterly financial performance, including GMV, net revenue, and EBITDA. - Growth and performance in the Beauty and Fashion verticals. - Brand additions and partnerships, including new brands like H&M. - Customer acquisition trends and marketing strategy.

2 more points from FSN E-Commerce's call on order book

Create a free account to keep reading this call

FSN E-Commerce — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.6K Cr, net profit ₹79 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

Continue your research

What FSN E-Commerce Ventures Ltd's management said in earlier quarters

Others in Retailing this season

  • Entero Healthcare Solutions Ltd (Q2 FY26)

    Growth driven by three factors: organic growth (13.4% in Q2), full-year impact of past acquisitions, and new acquisitions closing primarily in H2. Key concall…

  • Matrimony.com Ltd (Q2 FY26)

    The company is investing a few crores each quarter experimenting with new initiatives, including AI-based astrology services and adjacent businesses like…

  • Intrasoft Technologies Ltd (Q2 FY26)

    Revenue from Operations for the quarter ended September 25, 2025: ₹13,251.45 lakhs . Key investor presentation takeaways from Intrasoft Technologies's Q2 FY26 i

  • RattanIndia Enterprises Ltd (Q2 FY26)

    2,072 crore, up 18% from Rs. Key investor presentation takeaways from RattanIndia Enterprises Ltd's Q2 FY26 investor presentation — and how it ranks against sec

Compare:vs Eternalvs Avenue Super.vs Trent Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Arthneeti Pro · Annual

FSN E-Commerce and 15K+ more earnings calls,
for less than your morning chai

a day

Every earnings call, ranking and concall Q&A across all four results seasons.

Secure Razorpay payment · instant access

Frequently Asked Questions

What were FSN E-Commerce Q2 FY26 results?

Nykaa expects significant upside and growth potential in the fashion business, which is still in early stages compared to beauty. Nykaa Fashion is in early stages of tech sophistication and brand engagement, indicating significant upside potential and growth opportunities in coming quarters.

What is FSN E-Commerce share price analysis?

FSN E-Commerce currently shows a neutral. The stock trades at a P/E of 371.2 with a market cap of ₹98,818 Cr. Investors should review the full earnings analysis for detailed insights.

Is FSN E-Commerce planning capital expenditure?

Nykaa has invested INR 58 crores in capex during H1 FY '26, primarily towards: - Expansion of the beauty store network - Enhancements in tech capabilities - Current capex utilization has improved,

Keep FSN E-Commerce on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.