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FSN E-Commerce Ventures Limited (NYKAA)

₹345.00 +1.95% last close, 16 Oct

📊 NSE: NYKAA 🏢 E-Retail/ E-Commerce 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, FSN E-Commerce's revenue was ₹2,782 Cr (+29.1% year on year, +5.1% on the previous quarter), and net profit ₹79.8 Cr (+232.3% year on year); the operating margin was 8.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹2,782	+29.1%	+5.1%
Operating profit	₹236	+289.5%	+5.9%
Net profit	₹79.8	+232.3%	+1.0%
EPS (₹)	0.28	+250.0%	+3.7%
Operating margin	8.5%	—	—

Full quarterly financials → Results calendar →

NYKAA delivery percentage and open interest

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 47.52% of the NYKAA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 55.01%. That is close to its usual level. In NYKAA futures, open interest fell 0.19% while the futures price rose 1.95%: short covering (shorts closing out).

47.52%Delivery, 16 Oct

55.01%Own 20-session average

0.6×Volume vs its average

-0.19%Futures open interest

₹345.00NSE close · +1.95%

Delivery in the last 5 sessions: 42.1% · 66.4% · 60.4% · 57.0% · 47.5%

Delivery across the market →F&O open interest →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Nykaa Submits Reg 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 14 Oct 2026, 03:50 PM

FSN E-Commerce Ventures Limited (Nykaa) has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Share Transfer Agent MUFG Intime India confirms that all share certificates received for dematerialisation during the quarter were processed, verified, and cancelled within prescribed timelines. This is a standard quarterly administrative filing with no financial impact on the business.

Compliance certificate issued for the quarter ended September 30, 2026
Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Confirmed by RTA MUFG Intime India Private Limited on October 3, 2026
Filed with stock exchanges on October 14, 2026

💡 No action required; this is a standard statutory disclosure. Investors should track upcoming Q2 FY27 operational and financial results.

Nykaa Q2 FY2027 Update: Net Revenue Growth Expected in Late 20s, GMV up ~30% YoY

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 04 Oct 2026, 06:31 PM

FSN E-Commerce Ventures (Nykaa) released its provisional revenue update for Q2 FY2027, projecting consolidated Net Revenue growth in the late twenties YoY and consolidated GMV growth close to 30%. The Beauty vertical delivered Net Revenue and NSV growth in the late twenties, supported by like-for-like retail store sales growth in early twenties and 14 net store additions (reaching 338 stores). Fashion vertical momentum accelerated, with Net Revenue growth expected in early forties and NSV growth in late forties. The company noted that a larger share of the festive season shifted into Q3 this year.

Consolidated Net Revenue growth projected in the late twenties YoY; GMV growth close to thirties
Beauty vertical Net Revenue and NSV growth expected in late twenties, with LFL store growth in early twenties
Fashion vertical Net Revenue expected in early forties and NSV in late forties YoY
Added 14 net new stores during the quarter, taking total retail store count to 338 as of September 30, 2026
Added more than 250 brands across categories in the Fashion vertical during Q2

💡 Track the full audited Q2 FY2027 results for reported EBITDA margins and fulfilment costs, alongside commentary on festive demand execution during Q3.

Nykaa Completes Acquisition of 51% Stake in Aminu Wellness

🟢 POSITIVE ⭐ 6/10

M&A 📅 24 Sep 2026, 05:03 PM

FSN E-Commerce Ventures (Nykaa) has completed the acquisition of a 51% shareholding on a fully diluted basis in Aminu Wellness Private Limited. The transaction follows initial board approval granted on August 04, 2026, and all necessary documentation has been executed. The acquired shares have been credited to Nykaa's demat account, formally making Aminu a subsidiary. Transaction value and financial metrics for Aminu were not disclosed in the filing.

Acquired a 51% shareholding on a fully diluted basis in Aminu Wellness Private Limited
Aminu Wellness has officially become a subsidiary of Nykaa
Transaction completed following board approval on August 04, 2026
Acquisition consideration was not disclosed in the filing

💡 Track upcoming quarterly disclosures for consolidation details and financial contribution from Aminu Wellness, as well as revenue integration within Nykaa's House of Brands.

Nykaa Partners With L'Oréal's BOLD Fund to Jointly Invest in Indian Beauty Startups

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 24 Sep 2026, 04:29 PM

Nykaa (FSN E-Commerce Ventures) has partnered with BOLD, L'Oréal's corporate venture capital fund, to co-invest minority stakes in high-growth Indian beauty and personal care brands. The collaboration focuses on providing capital, global mentorship, and omnichannel distribution while allowing startup founders to retain full creative and operational control. No financial commitments, corpus size, or initial capital allocation figures were disclosed in the filing. As of June 30, 2026, Nykaa operates 324 offline destinations and serves over 60 million customers, against TTM revenues of ₹10,649 Cr.

Joint minority investments by Nykaa and L'Oréal's BOLD fund in emerging Indian beauty brands
Founders to retain full operational and creative control of their companies
No fund corpus, transaction size, or deployment timeline disclosed in the press release
Nykaa platform reaches over 60 million customers and 324 offline beauty destinations as of June 30, 2026

💡 Monitor upcoming quarterly filings for any capital allocation disclosures, specific startup investments, or related party equity contributions under this partnership.

Crisil ESG Ratings Upgrades Nykaa to 'Strong' Category; Score Improves to 64 from 57

🟢 POSITIVE ⭐ 3/10

OTHER 📅 11 Sep 2026, 07:23 PM

Crisil ESG Ratings & Analytics has voluntarily upgraded FSN E-Commerce Ventures Limited's (Nykaa) ESG score from 57 to 64 for FY2026. This rating upgrade moves the company from the 'Adequate' category to the 'Strong' category. The report was independently prepared by Crisil based on FY2026 data and public disclosures, without direct engagement from Nykaa.

ESG rating score increased from 57 to 64 for FY2026
Category upgraded from 'Adequate' to 'Strong'
Rating voluntarily assigned by Crisil ESG Ratings via report dated September 10, 2026
Assessment based on independent evaluation of FY2026 public data

💡 Track whether improved ESG standing enhances institutional ownership and foreign portfolio investor (FPI) interest over upcoming quarters.

Nykaa Allots 1,80,870 Equity Shares Under Employee Stock Option Schemes

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 12:30 PM

FSN E-Commerce Ventures Limited (Nykaa) announced that its Nomination and Remuneration Committee approved the allotment of 1,80,870 equity shares on September 05, 2026. The allotment is pursuant to the exercise of vested stock options by employees under the company's ESOP schemes. The newly allotted shares will rank pari-passu in all respects with existing equity shares. The dilution from this issuance is negligible relative to the company's total outstanding share capital.

Allotment of 1,80,870 equity shares approved on September 05, 2026
Issued pursuant to exercise of vested stock options under ESOP schemes
Allotted shares rank pari-passu with existing equity shares
Nomination and Remuneration Committee approved the allotment

💡 Track upcoming quarterly operational updates and financial results for core business trends, as routine ESOP allotments have minimal dilution impact.

Nykaa Completes Acquisition of Additional 24.2% Stake in Subsidiary Earth Rhythm

🟢 POSITIVE ⭐ 6/10

M&A 📅 05 Sep 2026, 12:15 PM

FSN E-Commerce Ventures (Nykaa) has completed the acquisition of an additional 24.2% equity shareholding in its subsidiary, Earth Rhythm Private Limited. This follows the Board approval previously granted on May 21, 2026. All necessary transaction documents have been executed, and the shares have been credited to Nykaa's demat account, furthering the company's House of Brands consolidation strategy.

Completed transaction to acquire an additional 24.2% equity stake in subsidiary Earth Rhythm Private Limited
Execution follows prior Board approval dated May 21, 2026
Acquired equity shares have been successfully credited to the company's demat account
Consolidates Nykaa's owned skincare portfolio under its House of Brands strategy

💡 Track quarterly revenue and margin contribution from the House of Brands portfolio to evaluate the return on brand consolidation investments.

Nykaa Shareholders Approve All Resolutions at 14th AGM; Appoint Walker Chandiok as Auditor

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 08:49 PM

FSN E-Commerce Ventures (Nykaa) has declared the voting results for its 14th Annual General Meeting held on August 25, 2026. All four ordinary resolutions were approved by shareholders with the requisite majority, including the adoption of FY26 financial statements (99.99% approval) and the appointment of Walker Chandiok & Co. LLP as statutory auditors (99.81% approval). The re-appointment of directors Sanjay Nayar and Milan Khakhar was also approved with 95.12% and 88.92% support, respectively, though institutional shareholders cast 27.88% votes against Milan Khakhar.

Adoption of FY26 Standalone and Consolidated Audited Financial Statements passed with 99.9998% votes in favour.
Appointment of M/s. Walker Chandiok & Co. LLP as Statutory Auditors approved with 99.81% overall majority.
Re-appointment of Director Sanjay Nayar approved with 95.12% votes in favour (12.29% institutional votes against).
Re-appointment of Director Milan Khakhar passed with 88.92% votes in favour (27.88% institutional votes against).
Total shareholder count stood at 401,457 as of the cut-off date of August 18, 2026.

💡 Track upcoming quarterly results (Q2 FY27) and monitor operational execution across retail store footprint expansion and the B2B Superstore business.

Nykaa Concludes 14th AGM; Financials & Statutory Auditor Appointment Put to Vote

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 03:33 PM

FSN E-Commerce Ventures Limited (Nykaa) concluded its 14th Annual General Meeting (AGM) on August 25, 2026, conducted via video conferencing with 97 members present (9 promoter group, 88 public). Key ordinary resolutions placed before shareholders included the adoption of FY26 standalone and consolidated financial statements, the reappointment of directors retiring by rotation (Mr. Sanjay Nayar and Mr. Milan Khakhar), and the appointment of M/s. Walker Chandiok & Co. LLP as statutory auditors. Detailed voting results and the scrutinizer's report will be submitted separately.

14th AGM held on August 25, 2026, with 97 total members attending (9 promoter and 88 public)
Put to vote the adoption of FY26 Standalone and Consolidated Audited Financial Statements
Proposed appointment of M/s. Walker Chandiok & Co. LLP, Chartered Accountants, as Statutory Auditors
Proposed re-appointment of directors Mr. Sanjay Nayar and Mr. Milan Khakhar retiring by rotation

💡 Track the formal disclosure of voting results and scrutinizer report on exchange portals to confirm approval of all resolutions.

Nykaa 14th AGM Presentation: FY26 GMV Reaches ₹20,000 Cr; Revenue Crosses ₹10,022 Cr

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Aug 2026, 03:22 PM

FSN E-Commerce Ventures (Nykaa) presented its strategic roadmap and annual performance review at its 14th AGM. In FY26, the company achieved ₹20,000 Cr in GMV and crossed the ₹10,000 Cr annual revenue milestone at ₹10,022 Cr (up 26% YoY), with EBITDA rising 59% YoY to ₹752 Cr (7.5% margin). Its cumulative customer base expanded to 55 million, supported by an offline footprint of 313 beauty stores across 99 cities. The company outlined expansion plans for 'Nykaa Now' quick delivery into 25+ cities by FY27.

Annual GMV reached ₹20,000 Cr and net revenue crossed ₹10,022 Cr in FY26 (up 26% YoY).
EBITDA expanded 59% YoY to ₹752 Cr in FY26, with margins improving to 7.5% from 6.0% in FY25.
Physical beauty retail footprint grew to 313 stores across 99 cities spanning over 3.1 lakh sq. ft.
Rapid delivery network (Nykaa Now) operates across 13 cities with 100 rapid stores, targeting expansion to 25+ cities by FY27.

💡 Track quarterly margin trajectories and the operational scaling of 'Nykaa Now' rapid delivery to evaluate fulfilment cost impacts against premiumization gains.

Nykaa 14th AGM: Crosses ₹20,000 Cr GMV and ₹10,022 Cr Revenue Milestone in FY26

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 25 Aug 2026, 03:17 PM

FSN E-Commerce Ventures (Nykaa) presented its 14th AGM review highlighting full-year FY26 revenue crossing ₹10,022 Cr (up 26% YoY) and overall GMV reaching ₹20,000 Cr. FY26 EBITDA stood at ₹752 Cr (7.5% margin, up 59% YoY), supported by a store network of 313 retail stores across 99 cities. The Fashion vertical delivered ₹1,447 Cr NSV (₹5,000 Cr GMV) and achieved EBITDA breakeven in Q4 FY26, while the Beauty segment generated ₹8,504 Cr NSV across 4,500+ brands. Nykaa is expanding rapid delivery (Nykaa Now) from 13 cities to 25+ cities by FY27.

Overall ecosystem GMV reached ₹20,000 Cr with annual revenue crossing ₹10,022 Cr (up 26% YoY) in FY26.
EBITDA grew 59% YoY to ₹752 Cr in FY26, expanding EBITDA margin to 7.5% from 6.0% in FY25.
Fashion segment achieved EBITDA breakeven in Q4 FY26 with FY26 NSV of ₹1,447 Cr and GMV of ₹5,000 Cr.
Physical retail footprint expanded to 313 beauty stores across 99 cities with 3.1 lakh+ sq. ft. of space.
Superstore eB2B vertical scaled GMV to ₹1,187 Cr across 493,000 onboarded retailers in ~1,200 cities.

💡 Track margin expansion trajectories across the core Beauty and Fashion verticals, along with rollout efficiency of the 'Nykaa Now' rapid delivery model into 25+ cities by FY27.

Nykaa Subsidiary Completes Full Redemption of Unlisted NCDs

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Aug 2026, 07:49 PM

Nykaa E-Retail Limited, a wholly owned subsidiary of FSN E-Commerce Ventures, has completed the full redemption of its Unlisted, Unsecured, and Unrated Non-Convertible Debentures (NCDs). The redemption was carried out on August 12, 2026, in accordance with terms previously intimated on July 22, 2024. While the specific redemption amount was not disclosed in this filing, the group's total debt stands at a relatively low Rs 208 Cr against a net worth of Rs 1,803 Cr. This action represents a routine settlement of debt obligations by the company's retail arm.

Full redemption of Unlisted, Unsecured, and Unrated NCDs completed on August 12, 2026
Redemption executed by Nykaa E-Retail Limited, a 100% owned subsidiary
Action follows the original issuance terms set out in an intimation dated July 22, 2024
Company maintains a low Debt-to-Equity ratio of 0.12 as per latest financial data

💡 Investors should monitor the next quarterly financial statement to observe the reduction in finance costs and the updated total debt position, which was Rs 208 Cr prior to this announcement.

2,26,200 Shares Allotted Under Employee Stock Option Schemes

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Aug 2026, 11:13 AM

FSN E-Commerce Ventures (Nykaa) has allotted 226,200 equity shares to employees following the exercise of vested stock options. The allotment was approved by the Nomination and Remuneration Committee on August 09, 2026. These shares will rank pari-passu with existing equity. Given the company's market capitalization of Rs 98,157 Cr, this allotment represents a negligible dilution of approximately 0.008%.

Allotment of 2,26,200 equity shares on August 09, 2026
Shares issued pursuant to the exercise of vested stock options under ESOP schemes
New shares rank pari-passu with existing equity in all respects
Estimated value of allotment at current market price is approximately Rs 7.51 Cr

💡 No action is required as this is a routine administrative filing. Investors should monitor cumulative dilution from ESOPs in the annual report to assess long-term impact on EPS.

226% PAT growth in Q1 FY27; Nykaa reports ₹2,782 Cr revenue and Fashion vertical breakeven

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 07 Aug 2026, 06:34 PM

Nykaa delivered a strong Q1 FY27 with Net Revenue growing 29% YoY to ₹2,782 Cr and GMV rising 34% to ₹5,590 Cr. Profitability showed significant improvement as PAT surged 226% YoY to ₹80 Cr, supported by EBITDA margins expanding 200 bps to 8.5%. A major milestone was the Fashion vertical reaching EBITDA breakeven (0.1% margin) on an NSV of ₹451 Cr. The company's ROCE also saw a sharp increase to 26.8% from 12.7% a year ago, reflecting tighter capital execution.

Net Revenue grew 29% YoY to ₹2,782 Cr, representing ~28% of TTM revenue in a single quarter
PAT increased 226% YoY to ₹80 Cr, with PAT margins improving to 2.9%
Fashion vertical achieved EBITDA breakeven at 0.1% margin, up from -14.1% three years ago
Beauty vertical NSV grew 29% YoY to ₹2,371 Cr with a healthy 10.3% EBITDA margin
Total consumer base reached 60 million, a 33% YoY growth, with 20.8 million annual unique transacting customers

💡 Watch for the sustainability of Fashion vertical profitability in upcoming quarters and the impact of AI initiatives like 'Nynaa' and 'Ask Nykaa' on operating costs and conversion rates.

Nykaa schedules 5 institutional investor conferences between Aug 17 and Sept 21, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Aug 2026, 06:46 PM

FSN E-Commerce Ventures (Nykaa) has disclosed its schedule for institutional investor meetings spanning August and September 2026. The company will participate in five major conferences, including the Motilal Oswal Annual Global Investor Conference and the GS Asia Leaders Conference in Hong Kong. These interactions involve one-on-one and group meetings with global and domestic funds. While routine, these events provide management a platform to discuss their 25% expected growth strategy and the scaling of their eB2B Superstore business with institutional stakeholders.

Participation in 5 major institutional investor conferences scheduled over a 35-day period.
International engagement at the GS Asia Leaders Conference in Hong Kong from August 31 to September 1, 2026.
Domestic presence at the UBS India Summit (Sept 10), Jefferies India Forum (Sept 16), and J.P. Morgan India Conference (Sept 21).
Meetings will be conducted in physical mode across Mumbai, Hong Kong, and Gurgaon.

💡 Monitor the company's website or exchange filings for any updated investor presentations or transcripts that may be released following these conferences for insights into GCC expansion and margin improvements.

View All NYKAA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, Nykaa's total revenue from operations grew 25% YoY to INR 2,346 Cr. The Beauty segment NSV grew 27% YoY to INR 1,981 Cr, while the Fashion segment NSV grew 27% YoY to INR 346 Cr. The Superstore (eB2B) business saw a 42% YoY growth in orders.

Geographic Revenue Split

While specific regional percentages are not disclosed, the company operates 165 retail stores across India and has expanded into the GCC (Gulf Cooperation Council) region to diversify its geographic footprint.

Profitability Margins

Gross margin reached a 12-quarter high of 44.9% in Q2 FY26, up 111 bps YoY. EBITDA margin improved 125 bps YoY to 6.8%, and PAT margin rose 71 bps YoY to 1.4%, both reaching their highest levels since the IPO.

EBITDA Margin

EBITDA margin was 6.8% in Q2 FY26, a 53% YoY increase in absolute EBITDA to INR 159 Cr. This was driven by a 82 bps reduction in employee expenses to 7.8% of revenue and a significant reduction in Fashion vertical losses from -9.0% to -3.5% EBITDA margin.

Capital Expenditure

Nykaa is executing capex plans to expand its physical footprint, currently operating 165 retail stores, with a focus on tech-enabled shopping formats to drive a 50% QoQ increase in merchandise salience through these stores.

Credit Rating & Borrowing

The company maintains a healthy financial profile with an interest coverage ratio of 3.77 times and a Net Cash Accrual to Total Debt (NCATD) ratio of 0.43 times as of fiscal 2023. CRISIL Ratings considers its subsidiaries strategic to operations.

⚙️ Operational Drivers

Raw Materials

Cost of Goods Sold (COGS) represents 55.1% of revenue (INR 1,292 Cr). While specific chemical inputs for private labels are not listed, the company focuses on diverse vendor onboarding to mitigate single-source dependency.

Import Sources

International brands are sourced globally (e.g., La Prairie from Switzerland), while domestic brands and private labels (House of Nykaa) are primarily sourced within India.

Key Suppliers

Not disclosed by name, but the company maintains relationships with numerous suppliers to mitigate vendor concentration risks and ensure a quick cash conversion cycle.

Capacity Expansion

Current retail footprint is 165 stores. The company is expanding its eB2B Superstore capacity, which added 1 lakh new retailers over the last year, representing a 41% growth in transacting retailers.

Raw Material Costs

COGS grew 23% YoY to INR 1,292 Cr in Q2 FY26, which was lower than the 25% revenue growth, allowing for a 111 bps improvement in gross margins to 44.9%.

Manufacturing Efficiency

Focus on high-margin owned brands (House of Nykaa) like Dot & Key, which crossed INR 1,500 Cr in GMV, and Nykd, which crossed INR 175 Cr GMV, to improve overall contribution margins to 19.6%.

Logistics & Distribution

Marketing and S&D expenses were 15.7% of revenue (INR 368 Cr), while fulfilment costs were 9.7% (INR 227 Cr). Total logistics and distribution-related costs represent approximately 25.4% of revenue.

📈 Strategic Growth

Expected Growth Rate

25%

Growth Strategy

Growth will be achieved through a dual focus on penetration (AUTC grew 27% to 17.5 Mn) and premiumization (exclusive tie-ups like La Prairie). Scaling the 'House of Nykaa' brands (Dot & Key, Nykd) and expanding the eB2B Superstore business (41% growth in retailers) are core pillars.

Products & Services

Beauty and personal care products, fashion apparel, lingerie (Nykd), skincare (Dot & Key), and eB2B distribution services for retailers via Superstore.

Brand Portfolio

Nykaa, Kay Beauty, Dot & Key, Nykd, Earth Rhythm, Superstore by Nykaa.

New Products/Services

Exclusive international brand launches (e.g., La Prairie) and doubling down on the Nykd lingerie brand, which is growing 30% YoY on Nykaa channels.

Market Expansion

Expansion into the GCC region and deepening penetration in India through 165 retail stores and the Superstore eB2B platform.

Market Share & Ranking

Nykaa is the second largest homegrown brands business in India and a leader in the specialized beauty e-commerce segment.

Strategic Alliances

Strategic integration with 51% owned subsidiaries like Dot & Key Wellness and Nykaa-KK Beauty Private Limited.

🌍 External Factors

Industry Trends

The industry is shifting toward premiumization and omni-channel retail. Nykaa is positioning itself with 165 stores and a 49 million cumulative customer base to capture the transition from unorganized to organized retail.

Competitive Landscape

Nykaa is outperforming industry growth with 25% revenue increases, competing against horizontal marketplaces and traditional retail through specialized curation.

Competitive Moat

Nykaa's moat is built on its curated brand assortment and a 49 million customer base. This is sustainable because the high cost of specialized beauty logistics (9.7% of revenue) and brand trust creates high entry barriers.

Macro Economic Sensitivity

Sensitive to inflation and GDP growth affecting discretionary spend; beauty consumption in India is currently at a low base, offering a multi-decadal growth tailwind.

Consumer Behavior

Shift toward trend-based shopping and premiumization, reflected in the 27% YoY growth in Annual Unique Transacting Customers (AUTC).

Geopolitical Risks

Potential disruption to international brand sourcing and global supply chains could impact the premiumization strategy.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with Companies Act 2013 and SEBI LODR regulations as confirmed by the FY25 secretarial audit report.

Environmental Compliance

The company has active Health, Safety, and Environment (HSE) and Corporate Social Responsibility (CSR) policies monitored by the Board.

Taxation Policy Impact

The effective tax rate for Q2 FY26 was approximately 41% based on a PBT of INR 56 Cr and a PAT of INR 33 Cr.

Legal Contingencies

The secretarial audit for the period ending March 31, 2025, reported no major events or legal actions having a major bearing on the company's affairs.