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Nykaa acquires majority stake in Earth Rhythm

EntrackrEntrackr · 8m ago
Nykaa acquires majority stake in Earth Rhythm
Medial

Omnichannel beauty platform Nykaa has acquired a majority stake in the homegrown clean beauty brand Earth Rhythm. This acquisition follows Nykaa's earlier minority stake investment in Earth Rhythm in 2022. The company has now secured a significant majority stake through a combination of primary and secondary transactions. Leveraging its ecosystem and expertise, Nykaa aims to drive Earth Rhythm's growth across various categories. The platform plans to enhance the brand's potential by focusing on innovation, marketing strategies, and omnichannel distribution, while maintaining Earth Rhythm's core values and unique positioning. Founded in 2019 by Harini Sivakumar, Sivakumar Varadarajan, and Arun Kumar, Earth Rhythm is an internet-first brand offering a diverse range of organic beauty products. Its portfolio spans skincare, hair care, makeup, and lip care, featuring items like face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms. The brand is known for its vegan, cruelty-free, biodegradable products made without artificial fragrances. Headquartered in Gurugram, Earth Rhythm previously raised $9.13 million from Anicut Capital and other investors. The brand has built a strong presence by offering clean, clinically effective beauty and personal care solutions. Earth Rhythm has experienced significant progress in a short period, demonstrating strong sales growth, customer acquisition, category expansion, innovation, and brand awareness. With a catalog of over 250 SKUs across six categories, it continues to expand its market presence. Nykaa, an omnichannel marketplace in beauty, wellness, and fashion, offers a wide range of private labels, including skincare brand Dot & Key, jewelry line Pipa Bella, and apparel brands Gajra Gang and Kica. In the beauty and fashion space, Nykaa faces competition from major players like Amazon, Flipkart, Myntra, and niche platforms such as Purplle.

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Nykaa allots 90.5K shares under ESOP scheme

EntrackrEntrackr · 5m ago
Nykaa allots 90.5K shares under ESOP scheme
Medial

Nykaa allots 90.5K shares under ESOP scheme Beauty and personal care marketplace Nykaa has allotted 90,500 equity shares under the company's Employee Stock Option (ESOP) Scheme. The allotted ESOPs amount to a total of Rs 1.49 crore, based on the company’s opening price of Rs 165 per share on the NSE on Monday. "The allotted equity shares shall rank pari-passu with the existing equity shares of the company in all respects," Nykaa stated in a regulatory filing. In November 2023, the company allotted 1.80 lakh equity shares under its Employee Stock Option Scheme. Before that, it allotted 3.08 lakh equity shares under ESOP in October 2024, bringing the cumulative allotment for the December quarter to about 4.8 lakh shares. Nykaa's Q3 FY25 revenue from operations grew to Rs 2,267 crore, up from Rs 1,789 crore in Q3 FY24. The beauty segment contributed 90.9% of total revenue at Rs 2,060 crore, while the fashion segment accounted for 8.8% of operating income. Steady business growth helped Nykaa post a 51.7% increase in profit, reaching Rs 26.4 crore in Q3 FY25, compared to Rs 17.4 crore in Q3 FY24. Nykaa acquired a majority stake in Earth Rhythm after initially investing as a minority stakeholder in 2022. This was achieved through a mix of primary and secondary transactions. Additionally, Nykaa raised its stake in its subsidiary Dot & Key to 90% with an investment of Rs 265.3 crore.

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%

EntrackrEntrackr · 5m ago
Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52%
Medial

Nykaa posts Rs 2,267 Cr revenue in Q3 FY25, profit soars 52% Online beauty and fashion platform Nykaa reported strong growth in Q3 FY25, with its revenue from operations rising 26.8% year-on-year and profits surging 51.7% during the quarter ending December 2024. According to its unaudited consolidated financial statements sourced from the NSE, Nykaa's revenue from operations grew to Rs 2,267 crore in Q3 FY25, compared to Rs 1,789 crore in Q3 FY24. The beauty segment accounted for 90.9% of the total revenue at Rs 2,060 crore, while the fashion segment contributed 8.8% of the operating income in the last quarter. For Nykaa, the cost of materials constituted 57.2% of its total expenditure, rising to Rs 1,276 crore in Q3 FY25. Additional spending on employee benefits, finance, marketing, technology, and other overheads brought the company’s total costs to Rs 2,228 crore during the quarter. Steady growth in its scale helped Nykaa achieve a 51.7% increase in profit, reaching Rs 26.4 crore in Q3 FY25, compared to Rs 17.4 crore in Q3 FY24. Nykaa has acquired a majority stake in Earth Rhythm, following its initial minority investment in the company in 2022. This move was achieved through a combination of primary and secondary transactions. Additionally, Nykaa increased its stake in its subsidiary Dot & Key to 90% with an additional investment of Rs 265.3 crore. As of 4:10 PM, Nykaa’s shares are trading at Rs 170.5, giving the Mumbai-based company a market cap of Rs 48,739 crore ($5.8 billion).

Nykaa profits spike over 50% in Q1 FY25; invests Rs 265 Cr in Dot & Key

EntrackrEntrackr · 12m ago
Nykaa profits spike over 50% in Q1 FY25; invests Rs 265 Cr in Dot & Key
Medial

Online beauty and fashion platform Nykaa has managed to improve its topline in the last quarter over Q4 FY24. Its revenue from operations grew 4.7% in the first quarter of the ongoing fiscal year whereas the firm’s profit spiked 51% during the same period. Nykaa’s revenue from operations increased to Rs 1,746 crore in Q1 FY25 from Rs 1,668 crore in Q4FY24, its unaudited consolidated financial statements sourced from National Stock Exchange show. The beauty segment comprised 91% of the total income while fashion accounted for 8.4% to the company’s coffers. At the same time, its gross merchandise value (GMV) stood at Rs 3,321 crore in Q1 FY25. In the last quarter, Nykaa processed 12.4 million orders in the beauty segment and 1.7 million from the fashion vertical. The average order value stood at Rs 1,924 for beauty and Rs 1,237 for fashion. For Nykaa, the cost of materials formed 57.2% of the overall expenditure which increased to Rs 990 crore in Q1 FY25. The firm’s spending on employee benefits, finance, marketing, technology, and other overheads pushed its total cost to Rs 1,731 crore in Q1 FY25. The marginal growth in its scale enabled Nykaa to book an over 50% jump in its profit to Rs 13.6 crore in Q1 FY25 from Rs 9 crore in Q4 FY24. Nykaa also increased its stake in its subsidiary Dot & Key to 90% with an additional consideration of Rs 265.3 crore. Importantly, the Falguni Nayar-led company also increased its stake in Earth Rhythm making it a subsidiary company with an undisclosed investment. The Mumbai-based company is currently trading at Rs 188 (as of Aug 13), with a total market capitalization of Rs 53,697 crore ($6.7 billion).

Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24
Medial

Online fashion and beauty commerce platform Nykaa showcased a 24.1% growth in scale during the fiscal year ending March 2024. The profit after tax (PAT) for the Falguni Nayar-led firm also rose 90.5% to Rs 40 crore in the same period. Nykaa’s revenue from operations grew 24.1% to Rs 6,386 crore in FY24 from Rs 5,144 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. Nykaa On a sequential basis, the firm posted a 6.8% decrease in revenue to Rs 1,668 crore in Q4 FY24 from Rs 1,789 crore in Q3 FY24. The sale of beauty, personal care, fashion and other products and services through various platforms was the sole source of revenue for Nykaa. The firm has 14 subsidiaries and one associate named Earth Rhythm. It also made Rs 30 crore from interest and gain on the financial assets, tallying the total income to Rs 6,416 crore in FY24. For the fashion and beauty commerce platform, the cost of procurement formed 57.4% of the overall expenditure. In line with the scale, this cost grew 27.3% to Rs 3,647 crore in FY24. Its employee benefits, finance, depreciation, legal, advertising cum promotional, conveyance, and other overheads took the overall expenditure up by 23.6% to Rs 6,346 crore in FY24. The 24% scale and prudent cost mechanism helped Nykaa post a 90.5% increase in profit to Rs 40 crore in FY24 from Rs 21 crore in FY23. Its ROCE and EBITDA margins stood at 5% and 1.6%, respectively. On a unit level, Nykaa spent Rs 0.99 to earn a rupee in FY24. Nykaa Just ahead of quarterly and FY24 financial results, Nykaa announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme. As per Fintrackr’s estimates, the newly added ESOP options were worth around Rs 7 crore. Nykaa is currently trading at Rs 179.2 as of (22nd May at 5.08 pm) with a market cap of Rs 51,171 crore.

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