FMCG · LENSKART
New age - Platform - E-Retail
from 655 today
Lenskart has turned a strong start into a sustained run, delivering >50% returns since its market debut. We estimate Lenskart's India business to deliver a revenue CAGR of ~23% over FY26-31E, and initiate coverage with a BUY rating and a target price of INR 750.
Lenskart delivered another strong quarter with proforma revenues up 34% YoY and broad-based growth across India and International businesses, driven by rising refractive errors, low penetration, and increasing in-house manufacturing.
Lenskart delivered a strong 1QFY27 with robust revenue growth across India and International segments alongside meaningful EBITDA margin expansion. We reiterate our HOLD rating with a target price of INR 600 based on a 46x pre-Ind AS EV/EBITDA multiple.
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