Falguni Nayar's Nykaa makes it to TIME100 most influential companies

Falguni Nayar, the founder and CEO of the beauty and lifestyle retail startup Nykaa.

Falguni Nayar's Nykaa has made it to TIME100 most influential companies in the world.

This comes days after Nayar strode into the top 10 list of self-made women billionaires with a massive $7.6 billion wealth. She is the newest entrant in the women billionaires list, according to a compilation released by the Hurun Research Institute.

"Ten years after being founded by entrepreneur Falguni Nayar with the goal of inspiring Indian women, Nykaa has evolved into one of India’s largest cosmetics and lifestyle brands," stated TIME.

"Nearly 10 million people shop there, and a November IPO raised $700 million at a $13 billion valuation—turning Nayar, the CEO, into India’s richest self-made businesswoman. Expansion and marketing led to a 23% drop in net profits in the nine months to December, but revenue grew 65% year-over-year to $376 million," it added.

Read more: Focussed on building sustainable business with eye on profitability: Nykaa's Falguni Nayar

How Time chose the 100 most influential companies

Which businesses and corporate leaders are shaping our future? The answer to the question was crucial for selecting companies that made it to the TIME100 list this year.

"To assemble it (the list), TIME solicits nominations across sectors including health care, entertainment, technology, and more from our global network of editors and correspondents, as well as from industry experts," the publication stated in its website.

"Then we evaluate each on key factors, including relevance, impact, innovation, leadership, ambition, and success. The result is a diverse array of 100 businesses helping chart an essential path forward."

Read more: Nykaa founder Falguni Nayar now 4 times richer than Paytm boss Vijay Shekhar Sharma