With a target price of Rs 530 per share, the international brokerage has implied an upside potential of nearly 30% from current market levels. Macquarie highlights Lenskart’s integrated supply chain as a key competitive advantage, enabling superior cost efficiency, faster design cycles, and better operational execution compared with peers.
A proven track record of industry-leading growth further underpins Macquarie’s positive outlook, with expectations of sustained market share gains from the current 5% level toward the 40%+ penetration seen in more mature international markets. Improved utilisation of the supply chain is also expected to drive profitability, with EBITDA margins approaching ~33% at the store level and return on invested capital likely to more than triple to over 20% during FY26–28.
Lenskart reported a 20% YoY rise in consolidated profit after tax (PAT) to Rs 102.22 crore, compared to Rs 85.47 crore in the same quarter last year. This marked the company’s first earnings report since its listing.
Sequentially, the profit jumped 67%, a sharp rise from Rs 61.17 crore recorded in the previous quarter. For the half year ended September 2025, net profit stood at Rs 164.62 crore, more than doubling from Rs 75.35 crore in the corresponding period of the previous fiscal year. It is important to note that the reported PAT is attributable to the shareholders of the holding company.
The company’s revenue from operations rose 20.8% YoY to Rs 2,096.14 crore, up from Rs 1,735.68 crore in the same quarter last year. Total income for Q2 FY26 came in at Rs 2,129.40 crore, reflecting an 18% YoY increase.
The company made its stock market debut on November 10, 2025, at an issue price of Rs 402, raising Rs 7,278 crore through its IPO. The offer received a robust response from investors, being subscribed 28 times overall. Qualified institutional buyers (QIBs) led the charge, subscribing 45 times, while the non-institutional investor and retail portions were booked multiple times as well.At about 9:30 am, shares of the company were trading at Rs 425, higher by 3.5% from the last close on the BSE.
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