Lenskart Q2 profit: Net rises 20% in first post-IPO quarter; expansion plan targets 450+ new stores
Lenskart listed on November 10 following a Rs 7,278-crore IPO that raised Rs 2,150 crore in primary capital.
In a letter to shareholders, founder and CEO Peyush Bansal said, “Lenskart is entering a phase of compounding.
Years of investment in technology, supply chain, optometry, design and our omnichannel model are now generating strong operating leverage.” He added, “Every incremental rupee of revenue contributes more to Ebitda than last year, reflected in PAT (profit after tax), which has almost doubled year-on-year (on a half-yearly basis). Our technology-led manufacturing, disciplined store expansion and omnichannel approach are driving predictable store payback, strong unit economics and improving profitability.”Product margins improved to 69.2% from 68.7% a year earlier.
Explaining the gains, Bansal said, “Our scale provides negotiating power, keeping frame and lens costs 35–40% below industry average.
We design all our frames and lenses in-house.
Furthermore, we manufactured 3.9 million frames and 2.6 million lenses at our own facilities in H1FY26, which continues to grow, resulting in higher margins,” adding that centralising the international supply chain remains a key focus area expected to support future margin expansion.The company also released unaudited pro forma numbers to reflect its performance assuming full-period consolidation of its recent acquisitions—Dealskart, Meller and GeoIQ.
Under these assumptions, revenue rose 24% and net profit grew 49% year-on-year.Looking ahead, Lenskart plans to add more than 450 net new stores in India this fiscal year, up from 282 in 2024–25.
Bansal said, “While we do not provide specific guidance but since 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 across both revenue and Ebitda in Q3FY26.” The company said it sees scope to expand by “several thousand” additional outlets across existing and new markets.On the product front, Lenskart will launch its AI-powered smart glasses ‘B by Lenskart’ in the January–March quarter of 2026.
Earlier this month, it opened the platform to developers, allowing services such as Zomato, Swiggy and BookMyShow—as well as Indian app developers—to integrate its camera and AI technology.
