Indian eyewear retailer Lenskart has demonstrated robust performance in its first quarter as a publicly listed company, reporting significant growth across key financial metrics during the July-September period.
Strong Financial Performance Post-IPO
The company witnessed a 21% year-on-year increase in operating revenue, reaching Rs 2,096 crore for the quarter. This impressive growth was complemented by a 20% rise in net profit, which climbed to Rs 103 crore, showcasing the company's improving profitability metrics.
Perhaps even more notably, Lenskart's Ebitda surged 44% to Rs 414 crore from Rs 287 crore in the same period last year, indicating strong operational efficiency gains. The company's product margins also improved, moving from 68.7% to 69.2% year-on-year.
Geographical Distribution and Market Strategy
Domestic markets continued to be the primary growth driver for Lenskart, with India contributing nearly 59% of the company's total revenue. The remaining revenue streams came from international operations spanning markets including Singapore, Thailand, and Japan.
Founder and CEO Peyush Bansal, in his letter to shareholders, emphasized that Lenskart is entering a phase of compounding growth. He attributed the current success to years of strategic investments in technology, supply chain optimization, optometry services, design capabilities, and the company's omnichannel retail model.
"Years of investment in technology, supply chain, optometry, design and our omnichannel model are now generating strong operating leverage," Bansal stated. "Every incremental rupee of revenue contributes more to Ebitda than last year, reflected in PAT, which has almost doubled year-on-year on a half-yearly basis."
Expansion Plans and Future Outlook
Looking ahead, Lenskart has ambitious expansion plans, targeting more than 450 net new stores in India during the current fiscal year. This represents a significant acceleration from the 282 stores added in the 2024-25 financial year.
While the company typically avoids providing specific guidance, Bansal revealed that performance metrics through November indicate a stronger growth trajectory for both revenue and Ebitda in Q3FY26. The company sees potential for several thousand additional outlets across both existing and new markets in the coming years.
Product Innovation and Technology Focus
On the product innovation front, Lenskart is set to launch its AI-powered smart glasses 'B by Lenskart' in the January-March quarter of 2026. The company has already opened its platform to developers, allowing integration with popular services like Zomato, Swiggy, and BookMyShow, as well as Indian app developers seeking to leverage its camera and AI technology.
Bansal explained the margin improvements, noting that Lenskart's scale provides significant negotiating power, keeping frame and lens costs 35-40% below industry average. The company designs all frames and lenses in-house and manufactured 3.9 million frames and 2.6 million lenses at its own facilities in H1FY26.
"Our technology-led manufacturing, disciplined store expansion and omnichannel approach are driving predictable store payback, strong unit economics and improving profitability," Bansal added, highlighting that centralizing the international supply chain remains a key focus area for future margin expansion.
The company, which listed on November 10 following a Rs 7,278-crore IPO that raised Rs 2,150 crore in primary capital, also released unaudited pro forma numbers reflecting performance with full-period consolidation of recent acquisitions including Dealskart, Meller and GeoIQ. Under these assumptions, revenue grew 24% and net profit increased 49% year-on-year.
