Nearly 59% of sales came from operations in India, while overseas markets such as Singapore, Thailand and Japan accounted for the rest.The company debuted on the stock exchanges on November 10 after an IPO of ₹7,278 crore, raising ₹2,150 crore in primary capital.
In a letter to shareholders, company founder and CEO Peyush Bansal said, “Lenskart is entering a compounding phase. Years of investments in technology, supply chain, optometry, design and our omnichannel model are now generating strong operational leverage.”
“Every additional rupee of sales contributes more to Ebitda than last year, reflected in PAT (profit after tax), which has almost doubled year-on-year (on a six-month basis). Our technology-driven manufacturing, disciplined store expansion and omnichannel approach deliver predictable store payback, strong unit economics and improvement in profitability,” he added.
Pro Forma Financial Data
The company’s product margin was 69.2% in the July-September period, up from 68.7% a year earlier.
“Our scale provides bargaining power, keeping frame and lens costs 35-40% below the industry average. We design all of our frames and lenses in-house. Additionally, in the first half of the year, we produced 3.9 million frames and 2.6 million lenses in our own facilities, which continues to grow, resulting in higher margins,” said Bansal, adding that centralizing the international supply chain is a key area of focus, which is expected to contribute significantly to future margin improvement.
Lenskart also shared an unaudited set of numbers showing what its results would look like if the three companies it recently acquired had been part of the business for the entire reporting period.
On December 31, 2024, Lenskart acquired Dealskart, the master franchise operator for its Indian stores, after acquiring Spanish eyewear company Meller on August 11 this year and machine learning platform GeoIQ on September 30.
These illustrative or pro forma financial statements, which have been prepared for the purpose of enabling comparable comparison, assume the acquisition of Dealskart as of September 30, 2024, of Meller as of April 1, 2025, and of GeoIQ as of April 1, 2024.
On a pro forma basis, the company’s revenue growth was 24%, while net profit rose 49% year-on-year.
AND OfficeWAY FORWARD
Looking ahead, the company is targeting over 450 net store additions in India this fiscal, compared to 282 in 2024-25, Bansal said. “While we are not providing specific guidance, but given that we are already two months into the quarter, we can share that our overall performance metrics through the end of November indicate a stronger growth trajectory for both revenue and Ebitda in Q3FY26,” he said.
The company said it has a significant store expansion job ahead of it and could potentially add “several thousand” outlets to its network in the markets it currently serves, as well as in untapped towns and cities.
On the product development front, Lenskart said it will launch its artificial intelligence (AI) powered smart glasses ‘B by Lenskart’ in the January-March quarter of 2026. The company had earlier this month opened up its smart glass platform to developers to build products and services.
Under this initiative, Lenskart will make its AI and camera technology available to consumer apps and platforms such as Zomato, Swiggy and BookMyShow, along with Indian developers, to enable cross-category integration.
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