FSN E-Commerce Ventures Limited

rs,

mited Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001 Symbol: NYKAA Dear Sirs, Sub: Investor Presentation Scrip Cod

Rs. 24,454

ighlights 3 Q4 FY23: GMV momentum followed by improved EBITDA Margin GMV Revenue Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Marg

Rs. 13,017

4 FY23: GMV momentum followed by improved EBITDA Margin GMV Revenue Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (5

Rs. 5,758

um followed by improved EBITDA Margin GMV Revenue Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITD

36%

improved EBITDA Margin GMV Revenue Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs.

34%

argin GMV Revenue Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY

35%

Gross Profit Rs. 24,454 MM Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86

44.2%

Rs. 13,017 MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86 MM 48% YoY Growth PAT(2) Rs

54 bps

MM % Rs. 5,758 MM +36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86 MM 48% YoY Growth PAT(2) Rs. 23 MM -70

Rs. 707

+36% YoY Growth +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86 MM 48% YoY Growth PAT(2) Rs. 23 MM -70% YoY Growth EBITDA Mar

84%

th +34% YoY Growth ₹ +35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86 MM 48% YoY Growth PAT(2) Rs. 23 MM -70% YoY Growth EBITDA Margin 5.4%

Rs. 86

+35% YoY Growth Gross Margin 44.2%(1) (54 bps YoY) EBITDA Rs. 707 MM +84% YoY Growth PBT Rs. 86 MM 48% YoY Growth PAT(2) Rs. 23 MM -70% YoY Growth EBITDA Margin 5.4%(1) (147 bps YoY) PBT Ma

Notes

3

Working capital Adjustments

1

Notes

1. Others includes our new businesses NykaaMan, eB2B platform “SuperStore by Nykaa”, International, LBB, and Nudge 2. Selling & distribution expenses in Fashion verticals has increased due to the expansion of offline channels for owned brands 3. Branding Media & Production Cost is not considered for Contribution Profit as it is not allocatable, and its benefit accrue over long term 4. NSV refers to Net Sales Value calculated basis GMV minus discounts, cancellations, returns and taxes 5. GMV and NSV YoY growth for Others has reverse trend due to change in mix effect 5252 Vertical Performance: Business Wise (All amounts in ₹ million, unless otherwise stated) Particulars GMV Growth NSV Growth Revenue from Operations Growth Gross Profit Fulfilment expenses BPC 66,491 33% 40,765 32% 44,820 32% FY23 Fashion 25,696 47% 7,444 30% 4,347 34% 18,907 3,289 3,469 801 Marketing & advertisement expense 3,268 2,085 Selling and Distribution expenses 1,374 243 Others 5,245 204% 2,416 327% 2,271 366% 584

Notes

1. Others includes our new business NykaaMan, eB2B platform “SuperStore by Nykaa”, International, LBB, and Nudge 2. Selling & distribution expenses in Other verticals has increased due to the expansion of BDE count in eB2B business: SuperStore by Nykaa 3. Selling & distribution expenses in Fashion verticals has increased due to the expansion of offline channels for owned brands 4. Branding Media & Production Cost is not considered for Contribution Profit as it is not allocatable, and its benefit accrue over long term 5. NSV refers to Net Sales Value calculated basis GMV minus discounts, cancellations, returns and taxes 6. GMV and NSV YoY growth for Others has reverse trend due to change in mix effect 24.2% 11.5% 12.7% 19.9% -19.9% 44.2% 10.8% 28.0% 3.3% 2.2% 45.0% 9.0% 11.2% 4.1% 20.7% 46.4% 8.5% 8.0% 3.4% 26.5% 10,476 Total 97,433 41% 50,625 36% 51,438 36% BPC 50,089 49% 30,823 47% 33,997 49% FY22 Fashion 17,516 168% 5,728 148% 3,254 126% 22,781 13,727 2,555 4,548 5,660 2,098 3,251 63

Notes

1. Other Expenses are excluding Fulfilment expenses, Marketing & Advertisement Expense and Selling & distribution Expenses 2. Finance cost includes the interest cost on lease liabilities 3. Amortization includes the depreciation on RoU (Right of Use Assets) 54 (All amounts in ₹ million, unless otherwise stated)Mar-23Mar-22 YoY Growth Mar-23Mar-22 YoY Growth Revenue from Operations13,0179,73334%51,43837,73936%Cost of goods Sold7,2595,48132%28,65721,30035%Gross Profit5,7584,25335%22,78116,43939%Gross Profit Margin %44.2%43.7%54 bps44.3%43.6%73 bpsFulfilment expense1,0359499%4,5483,95615%Marketing & advertisement expense1,4311,19620%5,9064,82023%Selling and distribution expense52836544%2,0981,20774%Employee benefits expense1,27391339%4,9173,26551%Other expense78544477%2,7521,55977%Operating Expenses5,0513,86731%20,22114,80737%EBITDA70738584%2,5601,63357%EBITDA Margin %5.4%4.0%147 bps5.0%4.3%65 bpsDepreciation1679087%48926287%Amortisation36321569%1,24370277%Finance Cost (Net of other incom

Working capital Adjustments

Cash generated from / (used) in operations Payment of taxes (net) Net cash flow from / (used in) operating activities (A) For the year ended Mar-23 Mar-22 384 1,560 173 746 (219) 195 2,839 (3,290) (451) (951) (1,402) 473 835 129 465 (228) 157 1,831 (4,649) (2,818) (722) (3,540) Particulars II] Investing activities Purchase of Property, Plant and Equipment and other intangible assets Investment in subsidiary (net off cash and cash equivalent from subsidiary) Investment in associate Investment in fixed deposits Interest Received (Finance Income) Others Net cash flows (used in) investing activities (B) For the year ended Mar-23 Mar-22 (2,082) (940) (286) (417) (511) - 3,999 (4,746) 181 - 166 3 1,396 (6,028) (All amounts in ₹ million, unless otherwise stated) Particulars III] Financing activities Proceeds from issue of shares including share premium Proceeds from (repayment of) borrowings Interest expenses on borrowings Payment of lease liabilities Net cash flows from / (used in) financing