Revenue According to an average estimate from three brokerages, net profit for the reported quarter is expected to grow 26% year-on-year. However, net profit is estimated to rise as much as 429%.
Equirus Values has the highest PAT estimate for the company at Rs 17.5 crore, representing an increase of 429%. JM FinancialNykaa’s earnings estimate is the lowest at Rs 10.6 crore, up 221% year-on-year.
The company had reported a profit of Rs 6.9 crore in the previous March quarter of 2024 and Rs 3.3 crore in the year-ago quarter.
Here’s what analysts expect for Nykaa’s first quarter
JM Financial
We expect overall GMV to grow 24.6% YoY (3.3% QoQ), with BPC at 24% YoY (8.2% QoQ), Fashion at 16% YoY (-10% QoQ) and Others at 66.4%/6.4% YoY/QoQ.
Growth is below the target suggested during the 2024 Analyst Day, but that ambition was for the medium term, as the first quarter was affected by the elections and the heat wave.
We expect EBITDA margin to improve slightly by 9 basis points year-over-year, albeit declining by 34 basis points sequentially. Close attention should be paid to management’s commentary on industry trends in BPC/Fashion in fiscal 2025, the competitive landscape and the international expansion plan.
Kotak shares
We model overall GMV/revenue growth of 30/27% YoY, driven primarily by BPC business GMV/revenue growth of 25/23% YoY and fashion business GMV/revenue growth of 35/36% YoY.
We expect an EBITDA margin of 5.4%, implying a year-on-year expansion of 26 basis points and a quarter-on-quarter contraction of 15 basis points. While we expect a higher BPC margin and some loss reduction in fashion and eB2B, this could be offset by GCC losses.
Equirus Values
Nykaa will deliver 28%/9% YoY/QoQ revenue growth with sequentially flat gross margin/EBITDA margin.
Key aspects to consider: 1) BPC: improvement in advertising revenue and EBITDA margin; acquisition of new clients; 2) Fashion: growth in NSV and reduction of losses.
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of Economic Times)
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