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NYKAA Investor Presentation Q1FY27 FSN E - Commerce Ventures Limited NYKAA
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One Nykaa Highlights Beauty Omnichannel Retail Fashion House of Nykaa Superstore by Nykaa Financial Performance 01 02 03 04 05 06 Table of Contents
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Performance Snapshot – Q1FY27 GMV Net Revenue Gross Profit EBITDA PAT Rs 5,590 Cr Rs 2,782 Cr Rs 1,276 Cr Rs 236 Cr Rs 80 Cr 34% YoY Growth 29% YoY Growth 33% YoY Growth 45.9% margin* 68% YoY Growth 8.5% margin* 226% YoY Growth 2.9% margin* * of Net Revenue 3
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1,212 1,470 1,834 2,371 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Both the verticals saw meaningful acceleration in growth and profitability * % of NSV Beauty Fashion NSV (Rs Cr) EBITDA (Rs Cr) NSV YoY 27% 21% 25% 29% 19% 17% 20% 54% EBITDA YoY 38% 19% 32% 48% 27% 21% 25% 29% EBITDA margin* 8.7% 8.5% 9.0% 10.3% -14.1% -9.2% -6.2% 0.1% 105 125 165 244 Q1FY24 Q1FY25 Q1FY26 Q1FY27 209 245 294 451 Q1FY24 Q1FY25 Q1FY26 Q1FY27 -30 -23 -18 0.4 Q1FY24 Q1FY25 Q1FY26 Q1FY27 4
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Key strategic highlights of Q1FY27 GROWTH • Beauty (29% YoY NSV growth) : Driven by strong performance across e-commerce, retail and House of Nykaa • Fashion (54% YoY NSV growth) : Driven by strong customer growth, an enriched brand portfolio, and an encouraging response to the Nike partnership BRAND PARTNERS • 10,000+ Brands across Beauty and Lifestyle • 160+ new brands launched in Q1 CONSUMERS • Consumer base: 60 mn [33% YoY] • 20+ consumer immersive events in Q1 Nykaa X L’Oreal Paris Cannes Takeover, Beauty Bars, Flagship sales, Makeup Masterclasses, Experiential pop ups, Rare Beauty launch event, House of Nykaa new launch events RETAIL • 324 stores across 100+ cities (+11 stores this quarter) • Opened the largest-ever ultra-luxe Nykaa store in Vasant Kunj store • Strategic expansion into Exclusive Brand Outlets for global beauty brands - creating iconic brand destinations for Charlotte Tilbury and Kiehl's HOUSE OF NYKAA • 13 Consumer Brands growing at 43% YoY • Kay Beauty and Nykaa Cosmetics earned industry recognition for innovation, with awards from leading platforms such as Femina, ET and CEW UK AI initiatives Multiple high impact AI initiatives launched during the quarter: • Virtual closet is converting browsers into buyers • Nynaa, our AI voice assistant, is resolving nearly half of customer calls at human quality • Ask Nykaa has emerged as a trusted beauty advisor 5
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Scale, profitability and capital efficiency have all compounded strongly over the last 4 years 1,422 1,746 2,155 2,782 600 1,100 1,600 2,100 2,600 3,100 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Rev (Rs Cr) ROCE % 5.4% 8.3% 12.7% 26.8% Rev. YoY % 24% 23% 23% 29% 5.2% 5.5% 6.5% 8.5% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% EBITDA margin (%) PAT margin (%) 0.4% 0.8% 1.1% 2.9% 0.2% 0.7% 1.2% 1.7% 2.2% 2.7% 3.2% Capital Employed (Rs Cr) 1,658 1,791 2,073 2,211 Capital employed = Net Worth + Net Debt 6
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4,992 6,683 9,067 10,275 Q1FY24 Q1FY25 Q1FY26 Q1FY27 $2.4bn GMV, powered by a demand – assortment – distribution flywheel $2.4 bn Annualized GMV* across all platforms [~3x vs Q1FY24] 161 198 246 324 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Store Count (#) Demand engine Assortment engine Distribution engine 26 35 45 60 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Customer base (mn) Beauty + Fashion brands (#) 19,000+ pincodes covered by online ~5,300 Brands onboarded in three years Deep partnerships with full stack offering 170k+ Creator network 19 mn+ social media community Consumer engagement initiatives 13 cities covered by Nykaa Now Cities → 60 66 82 105 169 282 403 523 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Registered Retailers on Superstore (in 000s) Cities → 650+ 1,100+ 1,100+ 1,200+ 2.3mn Content pieces annually Social engine 7*Q1FY27 GMV converted at USD 1= INR 95
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BEAUTY OMNICHANNEL RETAIL
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Beauty remains on a strong growth trajectory with double digit EBITDA margin GMV (Rs Cr) NSV (Rs Cr) EBITDA (Rs Cr) 1,991 2,543 3,208 4,105 Q1FY24 Q1FY25 Q1FY26 Q1FY27 YoY 28% 28% 26% 28% 1,212 1,470 1,834 2,371 Q1FY24 Q1FY25 Q1FY26 Q1FY27 105 125 165 244 Q1FY24 Q1FY25 Q1FY26 Q1FY27 27% 21% 25% 29% 38% 19% 32% 48% Margin % * 8.7% 8.5% 9.0% 10.3% * % of NSV • Growth accelerated on the back of strong platform performance, a successful Pink Summer Sale, and robust customer acquisition . • Retail performance strengthened on account of network expansion along with double digit SSSG growth. • Gross margin expansion and operating leverage led to profitability improvement. 9
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Focus on penetration and premiumization is driving growth Rs 3,208 Cr GMV Rs 4,105 Cr GMV Q1FY26 Q1FY27 411 500 Q1FY26 Q1FY27 22% YoY 16.5 20.8 Q1FY26 Q1FY27 2,009 2,102 Q1FY26 Q1FY27 25% YoY 5% YoYVisits (mn) AUTC (mn) AOV (Rs) 28% YoY 10
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Nykaa partners with Selena Gomez’s Rare Beauty for India Launch Scott Friedman, CEO of Rare Beauty added, “India is a very important market for Rare Beauty, and we’re thrilled to partner with Nykaa to bring the brand to more people across the country. Nykaa has built a powerful beauty community in India, and together, we’re excited to make Rare Beauty more accessible while continuing to foster authentic connection, self- acceptance, and belonging” Top 5 Premium brands on Nykaa Launched in Jun’26 Rare beauty, one of the world’s largest and most trending celebrity beauty brands is now on Nykaa 11
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Bringing the best global brands to Indian consumers Trending Chinese makeup brand Trending Haircare brand from the Unilever Prestige portfolio Exclusive Japanese high efficacy skincare brand from P&G Exclusive Gen Z focused licensed range from Anua Korean Derma skincare brand EXCLUSIVE TO NYKAA 12
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Strong performance of marquee sale events in Q1 FY27 13 Nykaa Pink Summer Sale Nykaa Birthday Sale For Deck - Image Gifs (75).gif 35 mn+ Unique Visitors 100 mn+ Visits ~40% YoY GMV 20 mn+ Unique visitors
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Strengthening omnichannel presence with 11 new stores in Q1FY27 324 stores Store Count 105 citiesCoverage ~3.3 L sq. ftRetail space Double digit growthSSSG Nykaa has a well diversified store network across tiers, regions and servicing different customer need states Multi brand specialty Stores Exclusive House of Nykaa Outlets Exclusive brand experiential formats Experience led stores with brands, SIS, skin consultation tools and beauty services Destination for trending, D2C/home grown & international brands A fragrance-first concept redefining discovery through luxury brands and personalized experiences. K I O S K C A R T Exclusive House of Nykaa outlets in high footfall retail zones Brand carts in key consumer hotspots K A F E A first of its kind lifestyle café blending beauty, coffee and community +11 new stores in Q1 +6 new cities in Q1 +29% YoY 50% in Tier 2 & beyond Geographic Penetration Strategic expansion into exclusive brand outlets, unlocking a new growth vector through partnerships with leading global brands 14 Pioneering innovative retail formats that are redefining retail experience in India and many more to come
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Launch of our newest and largest flagship store: Nykaa Luxe, Ambience Mall, Vasant Kunj Largest Nykaa store at 5,000+ sq. ft. [4x of avg. luxe store size] Experiential services in collaboration with the best of beauty brands 12+ Shop in shops for elevated brand representation 100+ premium Global and Indian beauty brands 15 Makeovers & Brow Services Skin Consultation & Diagnostic Services Fragrance Discovery & Layering Hair consultation & styling
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Rapid store expansion + Expansive store network for hyperlocal fulfilment Nykaa Now expands to 13 cities 324 stores in 105 cities Rapid stores in 13 cities 1,000+ Marquee Brands [Luxe, FMCG, and D2C brands] Largest beauty & personal care assortment 3 cities 13 cities Q1FY26 Q1FY27 25+ cities By end of FY27 Expansion 16
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India’s largest and most trusted creator, social and content ecosytem $1 Trillion India’s creator economy by FY31E 3 in 4 Indian consumers rely on influencer recommendations for discovery and decisions 76% Content consumed is creator content Influencer marketing and content plays a crucial role in the evolving lifestyle consumption in India Nykaa play brings content and shopping together 300K+ subscribers Expertise integration Tutorials and influencer recommended stores embedded in the app Expertise Content App Integration Largest Beauty Content Creator Network Nykaa Affiliate Program and creator network • 170k+ creators • 2.3mn+ content pieces generated annually Largest Social Community A highly engaged social community across platforms • 19 mn+ social media followers • Differentiated content formats & collaborations to drive engagement 17
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HOUSE OF
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HOUSE OF Rs 3,760 Cr Annualized GMV [39% YoY] Building India’s leading new age consumer brands portfolio House of Nykaa continues to scale rapidly, crosses Rs 2,200 Cr+ annualized NSV Rs 2,200+ Cr Annualized NSV [36% YoY] Rs 100 Cr+ Ann. NSV 18 mn+ Customers served till date [35%+ YoY] 13 Consumer Brands portfolio Beauty Fashion Strong topline growth Customer Love Wide Distribution reach + 300+ Nykaa stores Nykaa Online + 180K+ B2B Retailer network + International (Space NK, Nysaa)D2C website + 3P Other marketplaces+ 19
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House of Nykaa – Beauty continues its strong growth trajectory, delivers 40% YoY NSV growth NSV (Rs Cr) NSV mix by channel - Q1FY27 363 508 Q1FY26 Q1FY27 40% YoY 33% 10% 19% 37% Nykaa Online Nykaa Stores Nykaa B2B Exports Other 3P Channels Strong growth across both Nykaa and other channels, reflecting a powerful brand presence and strong buyer trust 1% 20
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Our core brands are leading in skincare and colour cosmetics All new Lip Grip Designed to meet the rising GenZ demand for transfer-proof, comfortable, low-effort beauty. * Lauches post Q2FY26 Meltie Lip Balm chocolate-scented treatment featuring SPF 50+ PA+++ sun protection Dragon Fruit Bounce Sunscreen broad-spectrum gel sunscreen featuring new-age UV filters Cashmere Lip Blur High performance hybrid formula combining long- wear color payoff with functional skincare benefits A playful approach to actives led skincare – amongst India’s top D2C skincare brands India's largest celebrity beauty brand with inclusivity at its core India’s trendiest makeup brand built for youthful beauty consumers ~Rs 1,300 Cr Ann. NSV (Q1FY27) ~Rs 300 Cr Ann. NSV (Q1FY27) ~Rs 270 Cr Ann. NSV (Q1FY27) ~40% New launches sales contribution* ~22% New launches sales contribution* ~25% New launches sales contribution* New Launches 21
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House of Nykaa is scaling brand equity through strategic collaborations Saba Azad x Cashmere Lip Blur marks House of Nykaa’s next high-impact collaboration, following Bridgerton and FSP, and builds on a strong track record of driving buzz and virality
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A Quarter of Wins and Recognition for House of Nykaa Kay Beauty achieved a major international milestone, winning “Best New Brand” at the prestigious CEW UK Awards within a year of its UK debut at Space NK. • Best in blush category • Best social media campaign • Best in undereye category Breakthrough Brand Growth (Kay Beauty Hydra Cloud Cushion Foundation) Best Beauty Product Range (Nykaa Cosmetics X Bridgerton Collection) 23
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Nykaa acquires 51% stake in Aminu House of Nykaa expands into premium skincare with Aminu India’s leading beauty and lifestyle platform Premium Dermocosmetic skincare brand 24
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A premium, founder-led dermocosmetic skincare brand ₹19 Cr FY26 net revenue 8x Revenue growth in 3 yrs 30+ SKUs across skincare – serum, sunscreen, cleansers and more W H Y I T S T A N D S O U T Bootstrapped and scaled profitability since inception Premium positioning and strong repeat rate Strong innovation supported by in-house R&D ; trusted by premium salons and clinics 30+ Proprietary Formulations • Aminu brings ‘Skin-Intelligence’ lab and proprietary formulation into the House of Nykaa — a capability Nykaa can leverage in addition to filling the premium skincare space in its portfolio • Wide product portfolio with a strong presence across salons, clinics, and D2C retail 150+ High performing ingredients Present across premium salons Strong in-house R&D capabilities Aminu – Premium dermocosmetic brand with strong R&D capabilities 25
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How does Aminu fit within House of Nykaa? Current portfolio Expansion opportunity SPECIALISED LUXURY PREMIUM CORE MAKEUP SKINCARE HAIRCARE BATH & BODY FRAGRANCE WELLNESS Professional MUA Derma led skincare Premium Skincare Premium Fragrance Mid-Premium Nutraceuticals clean beauty clinical body care A playful fruit meets actives approach to skincare Clean, Kind & Effective Skincare Premium dermocosmetic skincare with clinical, yet gentle ingredients 26
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Top SKUs are showing strong momentum Top SKUs are attracting consumer love Strong early traction in serum category Rejuvenate Eye Serum Among best sellers on Nykaa in eye- serum category Skin Longevity One of India’s first copper- peptide serums Nourishing Sleep Oil Overnight barrier-repair face oil Aminu operates in a sizeable high growth segment. It is among the top premium skincare brands on Nykaa.com in the Rs 1,000-1,900 price range Gaining industry recognition 27
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Key terms of the transaction • Nykaa to acquire 51% stake for a consideration of Rs 32 Crores • The remaining 49% stake will be acquired over the next few years, as per terms set out in the transaction documents • The Aminu team, led by Prachi Bhandari and Aman Mohunta, will continue to run the business • Nykaa’s scale, reach and omnichannel ecosystem, combined with Aminu’s innovation and R&D depth, will unlock synergies for future growth • The transaction is expected to close in Q2FY27, subject to regulatory approvals and closing conditions 28
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SUPERSTORE
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Superstore continues to expand its scale and deepen its reach GMV (Rs Cr) 288 336 Q1FY26 Q1FY27 17% YoY 523K+ 30% YoY growth Fast growing retailer network Registered retailers 1,200+ cities 100+ cities added in last 1 year Coverage 11% YOY Driven by increasing retailer network expansion Orders 5% YOY Bigger baskets driving growth AOVA part of the portfolio was impacted by GST-led MRP reductions, which is expected to normalise over the coming quarters 28% YoY NSV growth 30
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Q1FY26 Q1FY27 Sales mix, scale and efficiencies lead to unit economics improvement % of NSV Fulfilment expense S&D expense Overhead expense* 10 bps Q1FY26 Q1FY27 Q1FY26 Q1FY27 232 bps 174 bps Q1FY26 Q1FY27 +332 bps YoY EBITDA margin (as % of NSV) • Scale led efficiency improvement• On account of improving BDE productivity • Efficiency gains offset by impact of new labour code on warehouse off- roll employees * Employee and other expenses 31
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Expanding our brand assortment with 18 new launches German dermatological skincare renowned for its soap-free, pH 5.5 formulations for sensitive skin. Science-backed wellness portfolio spanning electrolytes, probiotics and daily nutritional supplements. New-age skincare brand built on science- backed formulations, active ingredients and ingredient transparency. Skincare Wellness New age trend-driven, "glow-first" modern beauty brand specializing in expressive makeup Clean-label nutrition brand offering protein- rich snacks and functional foods. MakeupWellness Skincare Portfolio of 240 leading brands across categories Skincare High-performance skincare brand rooted in scientific research, known for transparent, science-backed formulations. 32
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Reinventing the ordering experience for retailers with technology Gamified in-app experiences encourage repeat visits, strengthen habitual app usage and improve discovery of new brands and offers. Extending personalised selling to WhatsApp Automated WhatsApp nudges, triggered by a retailer’s ordering history and preferences, replicate relevant BDE guidance and bring timely offers closer to the retailer. Driving engagement through gamification Leveraging technology to build a smarter and more productive ordering ecosystem 33
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Tech initiatives to increase BDE productivity and conversions Gives new BDEs an instant, 360-degree view of the retailer by combining purchase history, app behaviour, brand preferences and past interactions—helping them prepare faster and engage more effectively from the first visit. Smart recommendations enable BDEs to target high-intent retailers based on signals such as active carts, offers on previously purchased brands, available promotions and wallet balance expiry—helping expand reach and improve productivity. Retailer Passport surfaces: Retailer Order Trends Past BDE visit trends Favourite Brands & SKUs Supercash availability Loyalty Schemes Exclusive Offers Retailer’s organic intent Retailer’s Active Cart Offers on Favourite Brands Supercash Expiry Engine Price Drop Retailer passport : Instant context for every visit Smart lead prioritisation and next-best actions for BDEs Leveraging technology to build a smarter and more productive ordering ecosystem 34
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FASHION
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Fashion growth accelerates sharply with strong growth and positive EBITDA GMV (Rs Cr) NSV (Rs Cr) EBITDA Margin (% of NSV) 676 774 964 1,471 Q1FY24 Q1FY25 Q1FY26 Q1FY27 -14.1% -9.2% -6.2% 0.1% Q1FY24 Q1FY25 Q1FY26 Q1FY27 YoY 13% 15% 25% 53% 19% 17% 20% 54% 209 245 294 451 Q1FY24 Q1FY25 Q1FY26 Q1FY27 • Richer brand assortment across all categories, solid customer acquisition, and encouraging results from Nike partnership accelerated Fashion growth to a multi-quarter high while delivering positive EBITDA 36
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Strong customer funnel is resulting in improving order metrics 211 mn Visits | 28% YoY 24 mn+ MAUV | 22% YoY ~5 mn AUTC | 38% YoY 3 mn Orders | 48% YoY Accelerated customer acquisition with 44% New customers YoY Cumulative customer base of 12 mn Improved unique visitor to order conversion to 4.0% [+70 bps YoY] ~30% reduction in CAC in last 2 years 37
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Core categories remain strong, while emerging categories continue to accelerate Women Core Category Emerging Category Men Kids * GMV growth on NykaaFashion.com Elevating customer choice with 130+ new brands launched across categories in Q1 Footwear Active wear 80%+ GMV YoY 65%+ GMV YoY 85%+ GMV YoY 85%+ GMV YoY Apparel Footwear 65%+ GMV YoY Apparel 40% YoY 83% YoY 57% YoY 38
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Nykaa x Nike: A partnership compounding across channels Global leader in athletic footwear, apparel, equipment and sportswear X India’s #1 destination for premium and curated fashion Nykaa Fashion operates Nike.in and Nike App in India 1.5 mn+ App installs within 6 months of launch Deepening the partnership across Nykaa and Nike ecosystem Live across Nykaa Fashion and Nykaa Man Among Top 3 Brands on Nykaa Differentiation through exclusivity Exclusive categories - Football Boots Exclusive collections - Nike X Lego Collection Exclusive styles - Air Max 90 series 39
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Virtual Closet: Moving trial room inside the app First-of-its-kind AI-powered virtual try-on experience, transforming how consumers discover and shop for fashion online Launched in May’26 200K+ Virtual Avatars created 2X Higher Conversion 40
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Fashion profitability has improved structurally % of NSV * Employee and other expenses 41 Marketing and S&D expense 28.2% 22.9% Q1FY26 Q1FY27 534 bps • Efficiencies in performance marketing and scale leverage, while we continue to invest in customer acquisition (44% YoY new customer acquisition) Overhead expense* 14.2% 11.3% Q1FY26 Q1FY27 292 bps • Scale efficiencies in employee expenses and other overheads -6.2% 0.1% Q1FY26 Q1FY27 EBITDA margin 627 bps
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FINANCIAL PERFORMANCE
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Revenue growth accelerates to 29%, PAT growth of 220%+ Net Revenue (Rs Cr) EBITDA (Rs Cr) PAT (Rs Cr) 1,422 1,746 2,155 2,782 Q1FY24 Q1FY25 Q1FY26 Q1FY27 YoY 24% 23% 23% 29% 73 96 141 236 Q1FY24 Q1FY25 Q1FY26 Q1FY27 5 14 24 80 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Highest growth in last 13 quarters 60% 31% 46% 68% Margin % * 8% 152% 79% 226% 5.2% 5.5% 6.5% 8.5% 0.4% 0.8% 1.1% 2.9% *% of revenue 43
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Both business verticals delivered strong performance One Nykaa Beauty Fashion 2,137 2,835 Q1FY26 Q1FY27 NSV (Rs Cr) EBITDA margin* %| YoY YoY 1,834 2,371 Q1FY26 Q1FY27 24% 33% 25% 29% 294 451 Q1FY26 Q1FY27 20% 54% 8.3% | +174 bps 10.3% | +128 bps 0.1% | +627 bps * % of NSV 44
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Profit and Loss Statement Particulars (Rs Cr) Q1FY27 Q1FY26 YoY Revenue from Operations 2,782 2,155 29% Gross Profit 1,276 962 33% Gross Margin 45.9% 44.6% 123 bps Fulfilment expense 274 203 35% As % of revenue from operations 9.9% 9.4% 42 bps Marketing and S&D expense 412 328 26% As % of revenue from operations 14.8% 15.2% -42 bps Contribution Profit 589 430 37% Contribution Margin 21.3% 19.9% 123 bps Employee and Other Expense 353 289 22% As % of revenue from operations 12.7% 13.4% -72 bps EBITDA 236 141 68% EBITDA Margin 8.5% 6.5% 196 bps PBT 129 44 195% PBT Margin 4.6% 2.0% 261 bps PAT 80 24 226% PAT Margin 2.9% 1.1% 173 bps Supported by rising share of House of Nykaa along with uptick in marketing income We continue to invest in our infrastructure which is leading to efficiencies in our order to delivery days Efficiencies in performance marketing spends on Beauty and Fashion platforms along with improved BDE productivity Scale efficiency and productivity gains across the organizations 45
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Vertical Reporting – Q1FY27 1. Includes GCC business and international business 2. Branding Media & Production Cost is part of Other expenses (All amounts in Rs Cr, unless otherwise stated) Particulars Q1FY27 Q4FY26 Q1FY26 Beauty Fashion Total1 Beauty Fashion Total1 Beauty Fashion Total1 GMV 4,105 1,471 5,590 3,892 1,334 5,241 3,208 964 4,182 Growth 28% 53% 34% 27% 29% 28% 26% 25% 26% NSV 2,371 451 2,835 2,269 397 2,678 1,834 294 2,137 Growth 29% 54% 33% 29% 42% 31% 25% 20% 24% Revenue from Operations 2,516 253 2,782 2,410 225 2,648 1,975 171 2,155 Growth 27% 48% 29% 27% 40% 28% 24% 15% 23% Gross Profit 1,068 202 1,276 1,013 184 1,203 819 139 962 Fulfilment expense 227 47 274 215 45 260 170 33 203 Marketing and S&D expense2 300 103 405 278 91 374 234 83 318 Contribution Profit 542 51 597 520 48 570 415 24 440 Other expense (Including Employee and G&A expenses) 298 51 361 287 47 347 250 42 299 EBITDA 244 0.4 236 233 1 223 165 -18 141 Key Ratios as a % to NSV Gross Profit Margin % 45.1% 44.7% 45.0% 44.7% 46.4% 44.9% 44.6% 47.3% 45.0% Fulfilment expense % 9.6% 10.5% 9.7% 9.5% 11.3% 9.7% 9.3% 11.1% 9.5% Marketing and S&D expense % 12.6% 22.9% 14.3% 12.3% 23.0% 14.0% 12.8% 28.2% 14.9% Contribution Margin % 22.9% 11.4% 21.0% 22.9% 12.1% 21.3% 22.6% 8.0% 20.6% Other expense% 12.6% 11.3% 12.7% 12.7% 11.8% 12.9% 13.6% 14.2% 14.0% EBITDA Margin % 10.3% 0.1% 8.3% 10.3% 0.3% 8.3% 9.0% -6.2% 6.6% 46
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Capital efficiency evident in strong ROCE trend Fixed Asset Turnover* (x) Working Capital Days (#) ROCE* (%) 9.1 9.1 9.9 10.7 FY24 FY25 FY26 Q1FY27 42 34 28 29 FY24 FY25 FY26 Q1FY27 7.5% 11.3% 21.2% 26.8% FY24 FY25 FY26 Q1FY27 Rising salience of asset light business such as Fashion and House of Nykaa Sustained working capital efficiency Improvement in profitability coupled with capital efficiency driving strong ROCE trends *Annualised for Q1FY27 47
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THANK YOU
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Glossary Term Description Annual Unique Transacting Customers (AUTC) Unique customers identified by their email-id or mobile number who have placed at least one Order on our websites, mobile applic ations or physical stores during the last 12 months ended as on measurement date. Annual Transacting Customers, with respect to beauty and personal care, denotes Annual Transacting customers on the Nykaa websites and mobile ap plications and physical stores. Annual Transacting customers, with respect to Fashion, denotes Annual Transacting customers on the Nykaa Fashion website and the mobile application, with respect to Others, denotes Annual Transac ting customers on the Nykaa Man website and the mobile application, “Superstore by Nykaa” website and mobile application Average Order Value (AOV) GMV generated across our websites, mobile applications and physical stores divided by Orders considered for such GMV. Contribution Profit Contribution Profit is a non-GAAP financial measure. Contribution Profit refers to Gross profit for the period, after the adjust ment of Fulfillment Expenses, Marketing Expenses (Other than branding), Selling & Distribution Expenses. Cost of Goods Sold Cost of Goods Sold is a non-GAAP financial measure. cost of goods sold refers to cost of material consumed, purchase of traded g oods, changes in finished goods and stock-in-trade. EBITDA EBITDA is a non-GAAP financial measure. EBITDA refers to our profit/(loss) before Tax for the period, as adjusted to exclude (i) Other Income, (ii) Depreciation and Amortization Expenses, (iii) Finance Costs. EBITDA Margin refers to the percentage margin derived by dividing EBITDA by Revenue from Operations Gross Profit Gross Profit is a non-GAAP financial measure. Gross Profit refers to Revenue from Operations less COGS. Gross Profit Margin refe rs to the percentage margin derived by dividing Gross Profit by Revenue from Operations. Gross Merchandise Value (GMV) Monetary value of Orders inclusive of taxes and gross of discounts, if any, across our websites, mobile applications and physical stores prior to product returns or order cancellations and including sales to and through third party channels. GMV, with respect to BPC, denotes GMV of BPC vertical. GMV, with respect to Fashion, denotes GMV of Fashion vertical. GMV, with re spect to Others, denotes GMV of Other Verticals Monthly Average Unique Visitors (MAUV) Number of unique devices (laptops, mobile phones, etc.) which recorded at least one Visit to our websites or mobile applicati ons during the month. Monthly Average Unique Visitors, with respect to BPC, denotes Monthly Average Unique Visitors on the Nykaa websites and mobile applications. Monthly Average Unique Visitors, with respect to Fashion, denotes Mon thly Average Unique Visitors on the Nykaa Fashion website and the mobile application. Monthly Average Unique Visitors, with respect to Others, denotes Monthly Average Unique Visitors on the Nykaa Man website and the mobile appl ication, “Superstore by Nykaa” website and mobile application Revenue from operations Revenue from operations includes sale of products, marketing support revenue, income from marketplace and logistics services Net Sales Value (NSV) NSV refer to Net Sales Value and calculated basis GMV minus Discounts, Cancellation & Returns, and Taxes. Orders All orders placed on our websites, mobile applications and physical stores prior to any cancellations and returns. Orders, wi th respect to BPC Vertical, includes all Orders that placed on Nykaa websites & mobile applications and Physical Store, having at least one BPC product. Orders, with respect to Fashion Vertical, includes all Orders that placed on Nykaa we bsite & mobile application, and Fashion.com website & mobile application having at least one fashion product . Orders, with respect to Others includes all Orders that placed on Nykaa Man website & application, and “Superstore by Nykaa” website & mobile application. Visits Number of visits to our websites and mobile applications. A visit is considered ended when no new request has been recorded i n more than 30 minutes from the same device to the website or the mobile application. Visits, with respect to beauty and personal care, denotes Visits to the Nykaa websites and mobile applications. Visits, with respect to Fashion, deno tes Visits to the Nykaa Fashion website and the mobile application. Visits with respect to Others, denotes Visits to Nykaa Man website and mobile application, “Superstore by Nykaa” website and mobile application Existing Customers Existing Customers, identified by their email-id or mobile number, are Customers who placed at least one Order in any prior Fina ncial Year on our websites or mobile applications. New Customers New Customers, identified by their email-id or mobile number, are Customers who placed at least one Order in any current Financi al Year on our websites or mobile applications. Verticals Beauty includes BPC online, BPC physical Stores, Beauty owned brands, Superstore by Nykaa and Nykaa Man Grooming, Fashion includes Nykaa Fashion, LBB, and Nykaa Man Lifestyle 49
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Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by FSN E-Commerce Ventures Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any particular person and is not and nothing in it shall be construed as an invitation, offer, solicitation, recommendation or advertisement in respect of the purchase or sale of any securities of the Company or any affiliates in any jurisdiction or as an inducement to enter into investment activity and no part of it shall form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever. This Presentation does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. This Presentation and its contents are confidential and proprietary to the Company and/or its affiliates and no part of it or its subject matter be used, reproduced, copied, distributed, shared, or disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose, in any manner whatsoever. The information contained in this Presentation is a general background information of the Company. We don’t assume responsibility to publicly amend, modify or revise any information contained in this Presentation on the basis of any subsequent development, information or events, or otherwise. This Presentation should not be considered as a recommendation to any investor to subscribe to any security. This Presentation includes certain statements that are, or may be deemed to be, “forward-looking statements” and relate to the Company and its financial position, business strategy, events and courses of action. Forward-looking statements and financial projections are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and financial projections. Forward-looking statements and financial projections include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs, our estimates regarding our capital requirements, our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts in the Presentation, if any, are correct or that any objectives specified herein will be achieved. We, or any of our affiliates, shareholders, directors, employees, or advisors, as such, make no representations or warranties, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein and accept no liability whatsoever for any loss, howsoever, arising from any use or reliance on this Presentation or its contents or otherwise arising in connection therewith. The information contained herein is subject to change without any obligation to notify any person of such revisions or change and past performance is not indicative of future results. It is clarified that this Presentation is not intended to be a document or advertisement offering for subscription or sale of any securities or inviting offers or invitations to offer or solicitation to offer from the public (including any section thereof) or any class of investors. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. No rights or obligations of any nature are created or shall be deemed to be created by the contents of this Presentation. 50
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Profit and Loss Statement (All amounts in Rs Cr, unless otherwise stated) Particulars Q1FY27 Q1FY26 Q4FY26 YoY Growth QoQ Growth FY26 FY25 YoY Growth Revenue from Operations 2,782 2,155 2,648 29% 5% 10,022 7,950 26% Cost of goods Sold 1,506 1,193 1,445 26% 4% 5,506 4,473 23% Gross Profit 1,276 962 1,203 33% 6% 4,516 3,477 30% Gross Profit Margin % 45.9% 44.6% 45.4% 123 bps 41 bps 45.1% 43.7% 132 bps Fulfilment expense 274 203 260 35% 5% 959 742 29% Fulfilment cost % of Revenue 9.9% 9.4% 9.8% 42 bps 4 bps 9.6% 9.3% 23 bps Marketing and S&D expense 412 328 380 26% 8% 1,537 1,211 27% Marketing and S&D expense % of Revenue 14.8% 15.2% 14.4% -42 bps 46 bps 15.3% 15.2% 10 bps Contribution Profit 589 430 563 37% 5% 2,020 1,524 33% Contribution Profit % 21.2% 19.9% 21.3% 123 bps -9 bps 20.2% 19.2% 99 bps Employee and Other expense 353 289 340 22% 4% 1,268 1,050 21% Employee and other expenses % of Revenue 12.7% 13.4% 12.8% -72 bps -15 bps 12.7% 13.2% 56 bps EBITDA 236 141 223 68% 3% 752 474 59% EBITDA Margin % of Revenue 8.5% 6.5% 8.4% 196 bps 7 bps 7.5% 6.0% 155 bps Depreciation & Amortisation* 89 76 84 17% 6% 320 266 20% Depreciation & Amortisation % of Revenue 3.2% 3.5% 3.2% -32 bps 4 bps 3.2% 3.4% -15 bps Finance Cost (Net of other income)** 17 21 17 -16% 1% 84 80 5% Profit before Tax and exceptional items 129 44 122 195% 6% 347 127 173% PBT Margin % 4.6% 2.0% 4.6% 261 bps 5 bps 3.3% 1.6% 187 bps Exceptional items 17 0 Profit before Tax 129 44 122 195% 6% 330 127 159% Total tax expense 49 19 43 126 54 Profit after tax 80 24 79 227% 1% 204 74 177% Share of (loss) of associate 2 Net Profit for the period 80 24 79 226% 1% 204 72 183% PAT Margin % 2.9% 1.1% 3.0% 173 bps -11 bps 2.0% 0.9% 113 bps * Amortization includes the depreciation on RoU (Right of Use Assets) **Finance cost includes the interest cost on lease liabilities (Net of Interest Income on Security Deposit & Gain on cancellation of lease) 51
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Key Performance Metrics Particulars Unit Q1FY27 Q1FY26 YoY Visits Beauty mn 500 411 22% Fashion mn 211 165 28% MAUV Beauty mn 48.4 38.8 25% Fashion mn 24.8 20.4 22% Orders Beauty mn 17.3 14.5 19% Fashion mn 3.0 2.0 48% AOV Beauty Rs 2,102 2,009 5% Fashion Rs 4,414 4,504 -2% AUTC Beauty mn 20.8 16.5 25% Fashion mn 4.7 3.4 38% 52