Synopsis
FSN E-Commerce Ventures, Nykaa's parent company, has approved the reappointment of Adwaita Nayar and Anchit Nayar as whole-time directors for five-year terms starting July 1, 2026. The board also cleared new terms for independent directors Anita Ramachandran and Milind Sarwate. These reappointments are pending shareholder approval.Both Adwaita Nayar and Anchit Nayar will continue as executive directors, roles they have held since July 2021. Their new terms begin July 1, 2026, and will extend until June 30, 2031.
In addition to the executive reappointments, the board has cleared a second five-year term for non-executive independent directors Anita Ramachandran and Milind Sarwate. Their new terms will commence on July 15, 2026. All board reappointments remain subject to shareholder approval.
Adwaita Nayar, cofounder of Nykaa, is largely involved in the platform's marketing, operations and product development segments. As the chief executive of Nykaa Fashion, which she established in 2018, she also leads the "House of Nykaa" portfolio of owned brands.
To further expand this portfolio, Nykaa is in talks to acquire a majority stake in actress Deepika Padukone's premium skincare brand, 82°E.
Meanwhile, Anchit Nayar, CEO of Nykaa's beauty e-commerce business, continues to oversee the company's flagship omnichannel strategy. His focus remains on scaling the beauty vertical and expanding Nykaa's physical retail footprint across the country.
The Mumbai-based company's consolidated GMV (gross merchandise value) growth is expected to be in the "late twenties" in the March quarter of FY26, and net revenue growth for the year is expected to come in at the upper end of the "mid-twenties."
In the third quarter of FY26, Nykaa's net profit grew nearly three-fold to Rs 67.7 crore for the seasonally strong, festival-led quarter ended December. Its operating revenue jumped 27% to Rs 2,873.2 crore during the same period.
Shares of the company ended largely flat in intraday trading on Friday. The stock closed at Rs 273.10, up slightly from its previous close of Rs 273 apiece.
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