COMPANY INTELLIGENCE PROFILE
Nykaa E-Retail Limited
Nykaa E-Retail Limited is the flagship beauty and personal care (BPC) e-commerce operating subsidiary of listed parent FSN E-Commerce Ventures Ltd, running Nykaa.com and NykaaMan.com.
Nykaa E-Retail Limited, incorporated in 2017, is a key subsidiary of FSN E-Commerce Ventures Ltd, focusing on beauty and personal care e-commerce through Nykaa.com and NykaaMan.com. In FY2025, it recorded standalone revenue of ₹6,290.4 crore and a PAT of ₹106.0 crore. The company, supported by parent guarantees, holds a CRISIL A/Stable credit rating. Legal matters include trademark and confidentiality disputes.
AI-generated, may contain errors.
Business Overview
- Incorporated 2017
- Operates the online sale of beauty, cosmetic and grooming products across own and third-party brands via Nykaa.com, NykaaMan.com and mobile apps, plus omni-channel physical stores under the FSN/Nykaa group.
- It is the core BPC, Beauty & Personal Care, vertical of the Nykaa group.
Sector & Classification
E-commerce retail of beauty/cosmetics/grooming products; NIC/activity classed as "Other business activities n.e.c." (74999)
Directors & Key Management
Directors — source notes
Falguni Sanjay Nayar (Director, DIN 00003633); Anchit Nayar (Managing Director, DIN 08351358, appt 13 Aug 2019); Pranab Barua (Director, DIN 00230152, appt 22 May 2020); Pradeep Parameswaran (Director, DIN 07206780, appt 22 Jul 2021); Padmanabhan Ganesh (Director/CFO, DIN 07202923, appt ~30 Mar 2023). DINs confirmed by Tofler + Falconebiz (2 sources agree).
GST Registrations
Primary GSTIN: 27AAFCN5072P1ZV (Maharashtra, home state, registered 01 Jul 2017, Active, Regular taxpayer). PAN: AAFCN5072P. Approximately 20 GST registrations across states (MH, MP, KA, WB, DL, HR, TS, AS, TN, GJ, PB, UP, BR, KL, AP, OD, etc.). Source: knowyourgst / mastersindia.
Financials
Nykaa E-Retail Limited reported a standalone revenue of ₹6,290.4 crore for FY2025 with an EBITDA of ₹308.1 crore and a PAT of ₹106.0 crore. Comparatively, FY2024 had a revenue of ₹4,779.8 crore, EBITDA of ₹421.7 crore, and PAT of ₹226.8 crore. Total borrowings increased from ₹340.1 crore in FY2024 to ₹964.7 crore in FY2025.
AI-generated, may contain errors.
| Standalone (₹ crore). FY2025: Revenue 6,290.4 | |
| EBITDA | 308.1 |
| PAT | 106.0 |
| Net worth | 539.6 |
| Total borrowings 964.7 (Source | Tofler). FY2024: Revenue 4,779.8 (CRISIL: 4,783) |
| EBITDA | 421.7 |
| PAT 226.8 (CRISIL | 226.83) |
| Net worth | 644.1, CRISIL adjusted net worth 595 |
| Borrowings | 340.1. FY24 revenue and PAT agree across Tofler + CRISIL. CAUTION, entity-confusion: the group's ~₹7,950 cr FY25 "BPC net revenue" cited in FSN investor decks is the CONSOLIDATED BPC-vertical figure, NOT this standalone entity — do not conflate. |
Funding History
- No external venture funding at this entity level — it is a wholly owned subsidiary funded by parent FSN E-Commerce Ventures Ltd, equity infusions and corporate-guaranteed bank debt.
- Parent FSN raised its capital via a Nov 2021 IPO.
- None found at subsidiary level.
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| Kotak Mahindra Bank | ₹205.0 cr | |
| Axis Bank | ₹130.0 cr | |
| Citibank N.A. | ₹125.0 cr | |
| IDFC First Bank | ₹80.0 cr | |
| ICICI Bank | ₹70.0 cr | CRISIL rates ₹400 cr of bank facilities |
- Registered charges / bank facilities (Source: Tofler):
Credit Ratings
- CRISIL A/Stable on long-term bank facilities (₹400 cr), UPGRADED from CRISIL A-/Positive on 06 February 2025. Rating supported by parent FSN corporate guarantees and strong BPC market position. No ICRA/CARE rating found for this entity.
Legal & Compliance
- Notable matters, via news/case databases; direct indiankanoon page not fetched: (1) Nykaa v. former CBO Gopal Asthana — Bombay HC interim order re confidentiality breach / non-solicitation, ~₹19 cr ESOP clawback + ₹5 cr goodwill claim
- (2) Nykaa v. Oykaa — Delhi HC trademark injunction (2023)
- (3) consumer disputes, e.g., Sangeeta Sehdev MRP complaint
- (4) L'Oreal S.A. litigation disclosed in 2021 prospectus, since settled. Note: several matters are filed by the group/brand generally and may not all name this exact entity.
Competitive Landscape
- Purplle, largest vertical challenger, mass/value
- Reliance Retail's Tira, offline-first, well-funded
- Myntra Beauty, Flipkart/Walmart-backed, large
- Tata CLiQ Palette, Tata, premium metros
- The Good Glamm Group, D2C beauty roll-up
- Quick-commerce entrants Blinkit/Zepto, emerging beauty threat. Nykaa holds ~25-30% online BPC share (first mover).
Frequently Asked Questions
What does Nykaa E-Retail Limited do?
Nykaa E-Retail Limited is the flagship beauty and personal care e-commerce operating subsidiary of FSN E-Commerce Ventures Ltd, running Nykaa.com and NykaaMan.com, selling beauty, cosmetic, and grooming products online and via physical stores.
What is the CIN of Nykaa E-Retail Limited?
The Corporate Identification Number (CIN) of Nykaa E-Retail Limited is U74999MH2017PTC291558.
What is the GSTIN of Nykaa E-Retail Limited?
The primary GSTIN of Nykaa E-Retail Limited is 27AAFCN5072P1ZV, registered in Maharashtra.
When was Nykaa E-Retail Limited incorporated?
Nykaa E-Retail Limited was incorporated in 2017.
Where is the registered office of Nykaa E-Retail Limited?
The registered office of Nykaa E-Retail Limited is located at 104, Vasan Udyog Bhavan, Sun Mill Compound, Senapati Bapat Marg (S Bapat Road), Lower Parel, Mumbai, Maharashtra 400013.
Sources
Tofler (registry + financials + charges), TheCompanyCheck (registry), Falconebiz (DINs), CRISIL Ratings rationale dated 06-Feb-2025 (rating + standalone financials + parent linkage), knowyourgst/mastersindia (GSTIN/PAN), Inc42/Business-Standard/legal news (competitors + litigation).
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.