'Add' Nykaa Shares Maintains ICICI Securities — Here's Why

Nykaa Now (two-hour delivery), aimed at countering quick commerce, is now live across >40 stores in seven cities. Scale-up in this segment and its impact on profitability shall be keenly watched..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.On June 26, 2025, FSN E-Commerce Ventures Ltd. hosted an Analyst Day, outlining its strategy across segments. Management is targeting ~25% gross merchandise value compound annual growth rate in beauty and personal care over FY25–30, leveraging both penetration and premiumisation. Nykaa Now (two-hour delivery), aimed at countering quick commerce, is now live across >40 stores in seven cities. Scale-up in this segment and its impact on profitability shall be keenly watched. Nykaa aims to scale fashion GMV by 3–4x by FY30, with Ebitda breakeven by FY26 and reach mid-to-high single-digit Ebitda margin by FY28. Management plans to scale its House of Nykaa (beauty) portfolio to Rs 60 billion GMV by FY30, implying ~30% GMV CAGR. We maintain our Add rating on the stock with an unchanged target price of Rs 230..Click on the attachment to read the full report:.'Sell' Trent Shares Maintains HDFC Securities — Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

'Add' Nykaa Shares Maintains ICICI Securities — Here's Why

ICICI Securities maintains Add rating on the stock with an unchanged target price of Rs 230.

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