Nykaa Performance Update - Q1 FY2024

Macro indicators of the Indian economy reflect a healthy trend which augers well for the long-term health of the industry. GST collections continue to be robust, and inflation has started to moderate. Interest rates are also showing signs of stabilizing.

Despite overall discretionary spend slowdown, consumption in the Beauty and Personal Care (BPC) categories continue to remain strong, in line with longer term trajectory. Nykaa was witness to this with the success of this quarter flagship sale event 'Pink Summer Sale' during the quarter. Our BPC business NSV for the quarter is expected to grow in the early twenties YoY. This is supported by strong urban demand in the category.

Apparel industry has been impacted due to discretionary slowdown during the quarter, especially in small towns. We expect discretionary spending to improve with the revival of seasonal demand. Despite the larger category trend, our Fashion business has witnessed relative resilience through gradual improvement in order volume with sustained AOV YoY. Nykaa Fashion NSV for the quarter is expected to grow in low to mid-teens on YoY basis.

For Q1 FY24, at a consolidated level, we expect revenue to grow in the mid-twenties YoY.

This update seeks to provide an overall summary of the operating performance and demand trends witnessed during the quarter ended 30th June, 2023. A detailed performance update will follow once the Board approves the financial results for Q1 FY24.

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 143.95 as compared to the previous close of Rs. 143.35. The total number of shares traded during the day was 409523 in over 4390 trades.

The stock hit an intraday high of Rs. 144.75 and intraday low of 142.65. The net turnover during the day was Rs. 58855282.00.

Source : Equity Bulls

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Nykaa FSNECommerceVentures PerformanceUpdate Q1FY2024