FSN E-Commerce Ventures Limited — Earnings Release 2024

Oct 6, 2023

FSN E - Commerce Ventures Limited

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October 06, 2023

National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G Block, Bandra – Kurla Complex, Bandra (E), Mumbai – 400 051

BSE Limited Corporate Relationship Department, 2[nd] Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001

Symbol: NYKAA

Scrip Code: 543384

ISIN: INE388Y01029

Dear Sirs,

Sub: Nykaa Performance Update – Q2 FY2024

Please find enclosed herewith a communication which is self-explanatory.

Thanking you,

Yours faithfully, For FSN E-Commerce Ventures Limited SUJEET ROOPCHAND JAIN Digitally signed by SUJEET ROOPCHAND JAIN DN: c=IN, o=PERSONAL, pseudonym=1e9b0900aeb64142986b3922b9f6dd5f, 2.5.4.20=d643dd2043b8b22f5bc634b9e32bc96586efc6b6758eec36ce90a71d7bbe6447, postalCode=400063, st=MAHARASHTRA, serialNumber=190bb047727d62c6bc7d2227562500030509611c603b17dc041f2859a7e39dd8, cn=SUJEET ROOPCHAND JAIN Date: 2023.10.06 07:47:02 +05'30'

___________________ Sujeet Jain Chief Legal and Regulatory Officer, Company Secretary and Compliance Officer Mem. No.: F6144

Encl: a/a

Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – companysecretary@nykaa.com CIN: L52600MH2012PLC230136

FSN E - Commerce Ventures Limited

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Nykaa Performance Update – Q2 FY2024

This update seeks to provide an overall summary of the operating performance of the company and demand trends witnessed during the quarter ended 30th September, 2023. A detailed performance update will follow once the Board approves the financial results for Q2 FY24.

Macro indicators of the Indian economy continue to remain stable with strong GDP growth, robust GST collections, and stable interest rates. However, the industry estimates indicate slightly subdued discretionary consumption, primarily on account of a delayed festive season.

In contrast, Nykaa has witnessed a strong quarter across all verticals.

Consumption in the Beauty and Personal Care (BPC) categories remain healthy. The beauty vertical continues to expand through the ecommerce business, physical store expansion and growth of our owned brands. The growth was supported by the success of our flagship event ‘Hot Pink Sale’ in July. Our BPC business NSV for the quarter is expected to grow around twenty percent on YoY basis. The festive season is a big driver for lifestyle categories and has witnessed a delay this year, moving into October versus commencing in September last year. This shift has a base impact on the Q2 FY24 growth to some extent.

Nykaa Fashion has witnessed strong momentum in Q2 FY24. This stands in contrast to the overall apparel industry which continued to see sluggish demand this quarter, especially in the small towns. However, the industry is expected to see improving trends in the festive season. Within the quarter, Nykaa Fashion has optimized the core category mix along with improvement in order volumes. Fashion NSV for the quarter is expected to grow in early thirties on YoY basis.

For Q2 FY24, at a consolidated level, we expect our NSV to grow in the mid-twenties and revenue to grow in the early twenties on YoY basis, both at levels similar to Q1 FY24. Overall, the H1 FY24 performance sets up Nykaa well for the year with second half historically witnessing superior consumer demand.

Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – companysecretary@nykaa.com CIN: L52600MH2012PLC230136

FSN E - Commerce Ventures Limited

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About Nykaa :

Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing inspiration and joy to people, everywhere, every single day. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one of India’s leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive Omnichannel e-commerce experience, Nykaa offers over 6,000+ brands through its website and mobile applications. The Nykaa Guarantee ensures that products available at Nykaa are 100% authentic and sourced directly from the brand or authorized retailers. Through engaging and educational content, digital marketing, social media influence, robust CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts. Over the years, Nykaa has received many accolades for disrupting the beauty market. At the 17th India Business Leader Award in 2022, Nykaa was awarded as the Disruptor of the Year and Kantar’s Brandz List features Nykaa as one of most valuable brands in India. For more details visit www.nykaa.com

Disclaimer:

The information disclosed in the performance update above may differ from the reported financials to reflect the real business financial performance. Some of the statements in this release may be forward looking within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include changes in the industry structure, changes in regulatory, and economic environment, tax laws, import duties, litigation, and labour relations.

Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – companysecretary@nykaa.com CIN: L52600MH2012PLC230136