Lenskart Solutions Ltd(LENSKART)

NSE: LENSKARTBSE: 544600

₹ 671.2+3.10%refreshed 27 Oct, 12:58 pm ISTMarket cap: ₹ 1.17 L crNext results: 4 Nov 2026Website: www.lenskart.comUpdated: 27 Oct 2026

About

Lenskart Solutions Ltd is an omnichannel eyewear retailer operating 3,327 stores across 16 countries, selling prescription glasses, sunglasses, and contact lenses through its own brands and the acquired Owndays and Meller labels. In Singapore, its combined market share has grown to approximately 25%, making it the leading eyewear brand in that country.^[1]

Business segments

India segment contributed 59.3% of FY26 revenue at ₹5,260.08 crore, with an EBIT margin of 11.1%.^[2]
International segment contributed 40.7% of FY26 revenue at ₹3,606.02 crore, with an EBIT margin of 3.5%.^[2]

Brands and products

House of Brands spans Lenskart AIR (comfort), Vincent Chase and Hustlr (value/first-time buyer), John Jacobs, Owndays, LPL and Meller (premium/design), Hooper (kids), and Aqualens (contact lenses).^[3]
B by Lenskart AI-powered prescription smart glasses entered live rollout in Q1 FY27 with 80,000+ sign-ups and hundreds of units shipping daily; built on Qualcomm AR1 chip with Google Gemini integration.^[4]
Meller fashion sunglasses brand grew 42% YoY in 9M FY26 and is stocked across 1,000+ India stores, all Middle East stores, Southeast Asia, and is entering Japan.^[5]
In-house design team of 100+ members launched 100+ new collections globally in FY26.^[3]

Manufacturing and operations

Every pair of glasses delivered in India is made at facilities in Bhiwadi (Rajasthan) and Manesar, Gurugram; Bhiwadi ranks among the top two centralised prescription eyewear plants globally by FY25 capacity, with 75% automation.^[3]
In FY26, Lenskart manufactured 17.5 million prescription eyeglasses, 7.8 million in-house frames, and 5.6 million in-house lenses.^[3]
Bhiwadi utilisation was 63.4% in Q2 FY26, up from 47.9% in FY25.^[6]
A 50% joint venture with Thailand-based frame maker Sunrise (Matt Optical Co., Ltd) was announced in Q3 FY26 to expand in-house frame capacity, using India's zero-duty treaty with Thailand.^[3]
Over 500 technology professionals support proprietary platforms including GeoIQ (location intelligence), TangoEye (store analytics), NexS (warehouse management), and OpenRetailAI.^[3]

Key operating numbers

India SSSG was 18.3% in Q1 FY27 (vs 16% in Q1 FY26) and 20.8% for FY26; same-pin-code sales growth was 24% in Q1 FY27 and 27.3% for FY26.^[4]
India eyewear units sold grew 22.8% YoY to 82 lakh in Q1 FY27; international eyewear units grew 37.6% YoY in Q1 FY27.^[4]
Consolidated product margin crossed 70% for the first time in Q1 FY27 (vs ~69% in prior four quarters); international product margin reached 77.1% in Q1 FY27.^[4]
India EBITDA pre-IndAS 116 margin was 15.4% in Q1 FY27 vs 13.3% a year earlier; international was 10.6% vs 4.5%.^[4]
Eye tests in India grew 42.7% YoY to 63 lakh in Q1 FY27; remote optometry ran in 786 stores in Q1 FY27, up from 168 stores at FY25-end.^[4]

Store network and distribution

Active stores reached 3,327 across 16 countries at end of FY26: 2,609 in India and 718 internationally; India spans 556 cities after entering 157 new cities in FY26.^[3]
India added 116 net new stores and entered 50 new cities in Q1 FY27; management estimates India can support 10,000+ stores, with 6,100+ pin codes unserved.^[4]
About 50% of India revenue in FY26 was digitally influenced, up from about 45% in FY25; the app had over 120 million cumulative downloads as of 31 March 2026.^[3]
Gold loyalty programme had 8.8 million active members at FY26-end, up 29.5% YoY; FY26 Gold subscription fees were ₹1,995 million, up 84.7% YoY.^[5]

Expansion and capex

Net new store additions in FY27 are expected around FY26 levels (~603).^[5]
GeoIQ identifies approximately 4,500 additional potential store locations in India, about 3,000 of them in Tier 2+ markets (FY26 annual report).^[3]
New Hyderabad facility, designed for 50 million pairs a year, has capex concentrated in FY27; ₹132 crore deployed in Q1 FY27; commissioning targeted by about September 2027.^[6][4]
International store acceleration is planned for beyond FY27; Thailand and the Middle East are priority markets; Japan is nearing acceleration economics; Saudi Arabia is in its investment phase.^[4][3]
The company states it intends to repeat Meller-style brand acquisitions (FY26 annual report).^[3]

Recent developments

GST on prescription eyewear was cut from 12% to 5% in September 2025.^[3]
Lenskart became a public company in FY26 and crossed 50 million people served the same year.^[3]
In Q3 FY26, Lenskart acquired a 29.2% minority stake in South Korean startup iiNeer (~₹189 million) to develop AI-enabled eye testing and lens edging equipment.^[3]
B by Lenskart smart glasses went from a 30,000+ waitlist at Q4 FY26 launch to 80,000+ sign-ups and daily shipments by Q1 FY27.^[4]
Under Armour launched as an exclusive third-party eyewear brand in Q1 FY27; AI self-eye-test entered pilot stores the same quarter.^[4]
Hustlr Club, a ₹500 glasses-with-lenses product, launched in Q1 FY27, enabled by lower domestic manufacturing costs.^[4]

Market Cap

₹1,16,742 Cr

High / Low

₹725 / 356

Stock P/E

167.1

Price / Book

12.5

Book Value

₹50

EPS

₹2.8

No. of Shares

173.64 Cr

ROCE

7.5%

ROE

5.7%

OPM

9.8%

Debt / Equity

0.03

Sales

₹8,814 Cr

Net Profit

₹501 Cr

Promoter holding

17.5%

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