Motilal Oswal believes beauty and personal care should continue to deliver mid-to-high 20% NSV growth, supported by premiumisation, improving average order values, owned brands, and healthy customer additions, while Nykaa's margins should gradually improve despite continued reinvestment.
Motilal Oswal believes beauty and personal care should continue to deliver mid-to-high 20% NSV growth, supported by premiumisation, improving average order values, owned brands, and healthy customer additions, while Nykaa's margins should gradually improve despite continued reinvestment.
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