Please find enclosed herewith the Transcript of Analyst / Investor Meet held on August 04, 2026.

AI summary - Q1 FY27 GMV grew 34% y-y to INR 5,590 Cr; net revenue up 29% y-y at INR 2,782 Cr - EBITDA rose 68% y-y to INR 236 Cr with 8.5% margin; PAT surged 226% y-y to INR 80 Cr - Beauty vertical NSV grew 29% y-y to INR 2,371 Cr with 10.3% EBITDA margin; Fashion NSV up 54% y-y to INR 451 Cr, near breakeven EBITDA margin - House of Nykaa brands grew 36% y-y; acquired premium dermocosmetic brand Aminu with 51% stake - Nykaa Now expanded to 13 cities with 60-min delivery; expected in 25 cities by FY27 end - Marketing efficiency improved with 534 bps reduction in S&D expenses; CAC down 30% in Fashion - Virtual Closet AI feature launched, driving 2x conversion; 60 million total consumers, 33% y-y growth - Multiple analyst queries on Nykaa Now's EBITDA impact and Nike partnership details; management expects accretive contribution and retailer-like commission model