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

AI summary - Q2 FY27 GMV grew 30% y-y to INR 6,151 Cr; net revenue up 28% y-y to INR 3,006 Cr - EBITDA rose 65% y-y to INR 263 Cr with margin expansion to 8.7%; PAT surged 207% y-y to INR 101 Cr - Beauty vertical NSV grew 28% y-y; Fashion NSV up 47% y-y with Fashion EBITDA breakeven at 0.2% - House of Nykaa brands annualized NSV INR 2,300 Cr, 36% y-y growth; 82% stake acquired in Simply Nam - Nykaa Global Store partners growing 60%+ y-y; 338 beauty stores with 73 added last year - Superstore scaled 30%, onboarding 27% more retailers; 370 bps EBITDA margin improvement - Fashion business sustained profitability with 3 quarters EBITDA positive; CAC down 30% - Capex steady at ~1% of revenue; ROCE improved to 27.3% in H1 FY27 - Management confident in long-term growth, margin expansion, and premiumization trends