Nykaa shares registered a 52-week high on Tuesday, continuing to rise for the fourth session in a row. In a quarterly business update on Sunday, the company said it saw strong growth across its verticals in the October-December period.
Nykaa shares 52-week high: Nykaa shares clocked a 52-week high on Tuesday, extending gains to a fourth straight session, after the cosmetics-to-fashion retailer gave a strong quarterly business update this week. The stock of Nykaa parent FSN E-Commerce Ventures gained by as much as Rs 14.6, or 8.3 per cent, to Rs 191.5 apiece on BSE, surpassing an earlier 52-week high of Rs 183.3 touched on December 18.
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In a business update, released on Sunday, the company said it saw strong growth across verticals in the October-December period. “Long-term macro indicators continue to improve with strong GDP growth, stable interest rates, and growing GST collections, reflecting India’s strong consumption growth story. However, there has been some impact on discretionary consumption due to short-term pressures,” the company said.
Nykaa said growth in its beauty and personal care business (BPC) is ahead of the industry. “We believe current industry growth is below long-term trajectory and should revert to the median in the near to mid-term, given the strong macroeconomic and demographic outlook,” it added.
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The company said that on a consolidated level, it expects its net sales value (NSV) to grow in the mid-twenties and revenue to expand in low-twenties for the December quarter on a year-on-year basis, and the gross merchandise value (GMV) of its fashion unit to grow around 40 per cent.
“The difference in GMV and NSV growth is primarily due to brand-led pricing and discounting, mainly in mass and masstige categories. The underlying order volume growth is healthy and consistent, reflecting strong customer demand,” Nykaa said, adding that it expects the combined net sales value of all the BPC operations to grow at low-to-mid-twenties.
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Nykaa shares: Past performance
FSN E-Commerce Ventures shares have delivered a return of 21.3 per cent in the past year, in line with a 20 per cent rise in the headline Nifty50 index.
