How India buys

How India buys beauty and cosmetics

The listed companies behind it: Lakmē, POND’S, Nykaa, Nykaa Cosmetics, House of Nykaa.

2 listed companies sold ₹22,588 crore of beauty and cosmetics in FY26, up 11.0% on FY25. Hindustan Unilever Ltd sold the most, 59.5% of it. FSN E-Commerce Ventures Ltd earned the most on each rupee of sales: 5.5%.

Listed companies' sales, FY26

₹22,588 Cr

up 11.0% on FY25

Largest seller

59.5%

Hindustan Unilever Ltd

Best margin

5.5%

FSN E-Commerce Ventures Ltd

The brands, and who owns them

9 brands of beauty and cosmetics, best known first

Hindustan Unilever LtdNSE: HINDUNILVR · 59.5% of the listed sales

LakmēPOND’S

FSN E-Commerce Ventures LtdNSE: NYKAA · 40.5% of the listed sales

NykaaNykaa CosmeticsHouse of NykaaKay BeautyNykaa CollectionNysaaSuperstore

Lakmē, POND’S are Hindustan Unilever Ltd's; Nykaa, Nykaa Cosmetics, House of Nykaa, Kay Beauty and others are FSN E-Commerce Ventures Ltd's. Brands are read from each company's filings and checked against a public source.

Who sells the most

Share of the listed companies' sales, FY26

Hindustan Unilever Ltd₹13,449 Cr (estimate) · 21% of its sales

59.5%

FSN E-Commerce Ventures Ltd₹9,139 Cr · 91% of its sales

40.5%

Hindustan Unilever Ltd had 59.5% of the listed companies' sales of beauty and cosmetics here, 1.5 times as much as FSN E-Commerce Ventures Ltd, the next largest.

From each company's own sales figures for this kind of product (its reported segment, or its whole sales where that is all it sells). Private makers are not counted, so this is the split among listed companies, not the whole market. An estimate is the share of turnover the company gives this product line in its sustainability report, times its own sales for the year, where its segments do not split it out.

How the sales have grown, and who sold them

Sales of beauty and cosmetics each financial year in ₹ crore (L = lakh crore), the change on the year before above each column

Hindustan Unilever LtdFSN E-Commerce Ventures Ltd

The listed companies here sold ₹22,588 Cr of beauty and cosmetics in FY26, up from ₹20,344 Cr in FY25. Hindustan Unilever Ltd's part of the total went from 64% in FY25 to 60% in FY26.

Who earns the most on each rupee

Operating profit as a share of sales of beauty and cosmetics, each financial year

FSN E-Commerce Ventures Ltd

Operating profit before interest and tax, as a share of sales of beauty and cosmetics. FSN E-Commerce Ventures Ltd earned 5.5% on its sales in FY26, against 4.9% in FY25.

The companies, and their brands

Company and brands	Sales FY26	Growth 1 yr	3 yrs	5 yrs	Margin	Profit share	Return on assets	P/E	ROE	Share price 1 yr
Hindustan Unilever Ltd Lakmē, POND’S Sells in 28 states and 79 countries; exports 2.6% of turnover	₹13,449 Cr estimate	+2.7%	—	—	—	—	—	29.6	31.0%	-25.1%
FSN E-Commerce Ventures Ltd Nykaa, Nykaa Cosmetics, House of Nykaa, Kay Beauty, Nykaa Collection, Nysaa, Superstore Sells in 16 states; exports 0.0% of turnover	₹9,139 Cr	+26.1%	—	—	5.5%	100.0%	13.9%	379.8	5.1%	+32.1%

Brands are read from each company's filings and checked against a public source. Growth is the yearly rate of its sales of beauty and cosmetics. Margin is the operating profit (before interest and tax) the company reports on them, as a share of those sales; profit share is its part of all the listed companies' profit on them; return on assets is that profit against the assets it reports for them. A company with no other business is measured on its whole accounts. Where a company's segments include sales between its own businesses (a bank's treasury lending to its retail arm), each segment is scaled down in proportion so that together they match what the company earns outside itself; companies report those internal sales only as a total. Not a recommendation to buy or sell.

Also sold by

These companies report this together with other businesses, so their figures are not counted above

Meesho Ltd

Avenue Supermarts Ltd

Eternal Ltd

Questions people ask

Which listed companies sell beauty and cosmetics in India?

2 listed companies report their sales of beauty and cosmetics: Hindustan Unilever Ltd (HINDUNILVR), FSN E-Commerce Ventures Ltd (NYKAA). 3 more sell them but report them together with other products.

Which listed company sells the most beauty and cosmetics in India?

Hindustan Unilever Ltd, with sales of beauty and cosmetics of ₹13,449 crore in FY26: 59.5% of the listed companies' total here.

How big is the listed market for beauty and cosmetics?

The listed companies here sold ₹22,588 crore of beauty and cosmetics in FY26, up 11.0% on FY25. Private makers are not included.

Which listed company makes the most profit on beauty and cosmetics?

FSN E-Commerce Ventures Ltd: its operating profit was 5.5% of its sales of beauty and cosmetics in FY26.

Who owns Lakmē?

Lakmē is a brand of Hindustan Unilever Ltd, listed on the NSE as HINDUNILVR.

Who owns POND’S?

POND’S is a brand of Hindustan Unilever Ltd, listed on the NSE as HINDUNILVR.

Who owns Nykaa?

Nykaa is a brand of FSN E-Commerce Ventures Ltd, listed on the NSE as NYKAA.

Who owns Nykaa Cosmetics?

Nykaa Cosmetics is a brand of FSN E-Commerce Ventures Ltd, listed on the NSE as NYKAA.