FSN E-Commerce Ventures Ltd — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Marketing efficiency and scale driving margin expansion; long-term Fashion EBITDA guidance high single digits by FY30
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%
Fashion business sustained profitability with 3rd consecutive profitable quarter; CAC down 30%
Management confident in sustaining growth, margin expansion, and capital efficiency improvements
House of Nykaa brands NSV grew 39% y-y to INR 535 Cr; 82% stake acquired in Simply Nam brand
Nykaa Global Store brands growing 60%+ y-y; 338 beauty stores with 73 added in last year