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Lenskart Posts 21% Q2 Revenue Growth and Margin Gains in First Results Since Listing

The update offers new evidence for investors weighing the eyewear retailer’s rich IPO valuation.

Overview

  • Consolidated net profit rose 19.6% year-on-year to Rs 102 crore as operating revenue increased 20.8% to Rs 2,096 crore in Q2 FY26.
  • EBITDA climbed nearly 45% to Rs 415 crore, lifting the EBITDA margin to 19.8% from 16.5% a year earlier.
  • India revenue reached Rs 1,230 crore while international revenue was Rs 879.64 crore, and the overseas business reported a Rs 31 crore profit versus a Rs 10 crore loss last year.
  • Management said September saw some purchase deferrals due to potential GST changes on prescription eyewear, with demand strengthening in Q3 FY26.
  • The November IPO priced at Rs 382–402 per share valued Lenskart near $8 billion, and Ambit Capital has criticized the implied multiples as unwarranted versus peers.