Nomura maintains Buy on Nykaa, cites high 20s BPC growth
Business
Nomura is still backing Nykaa with a "Buy" rating, thanks to strong growth in its Beauty and Personal Care segment.
They're expecting BPC net sales value (NSV) and net revenue growth in the high 20s in Q2 FY27, which definitely caught their eye.
Nykaa expands to 338 stores
Nykaa just expanded to 338 stores after opening 14 new ones, and sales at existing stores are picking up too.
Nomura also predicts big things ahead: fashion sales could rise by nearly 50%, helped by more brands and new shoppers.
Plus, their partnership with Nike has seen early traction, mainly driven by exclusive new merchandise, and at its current valuation, Nomura thinks Nykaa looks like a pretty good deal for the future.