New Delhi, November 5: Eyewear retailer Lenskart Solutions Limited reported a strong financial performance for the second quarter of the financial year 2026-27, with consolidated profit after tax more than doubling to Rs 232 crore, supported by higher product sales, growing demand in domestic and international markets and improved operating efficiency.
The company announced its September-quarter results on Wednesday, November 4, reporting a 32.5 per cent year-on-year increase in revenue from operations to Rs 2,845 crore, compared with Rs 2,147 crore in the corresponding quarter of the previous financial year.
Profit after tax increased to Rs 232 crore from Rs 113 crore a year earlier, reflecting stronger business growth and improved profitability.
The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA), before Ind AS 116 adjustments, increased 65 per cent to Rs 392 crore from Rs 237 crore in the year-ago period.
EBITDA margin improved to 13.8 per cent from 11.1 per cent, indicating better operating performance as the business expanded.
The results highlight Lenskart’s growing position in India’s organised eyewear market, where changing consumer preferences, rising awareness about eye health and increasing demand for fashionable spectacles are creating new business opportunities.
Domestic Market Drives Revenue Growth
India remained the biggest contributor to Lenskart’s business during the September quarter.
Revenue from the domestic market increased 35.3 per cent year-on-year, supported by higher eyewear volumes and growing customer demand.
The company’s integrated business model, which combines product design, manufacturing, retail distribution and digital sales, continued to support its expansion.
Lenskart has been focusing on making eyewear more accessible through a combination of affordable products, premium collections and technology-enabled eye testing services.
The company also reported a 26.5 per cent increase in domestic sales volumes, indicating that revenue growth was supported by actual demand rather than price increases alone.
Its focus on offering different product categories, including prescription glasses, sunglasses, contact lenses and specialised eyewear, has helped attract customers across various age groups.
The retailer has also been expanding its presence beyond major metropolitan centres, targeting smaller cities where organised eyewear retail continues to gain popularity.
International Business Records Strong Performance
Lenskart’s international operations also contributed positively to the quarterly results.
International revenue increased 29.5 per cent year-on-year, reflecting stronger demand across its overseas markets.
The company has been expanding its presence in countries where demand for organised eyewear retail and affordable vision correction products is growing.
Its international strategy combines physical retail outlets, online platforms and local distribution capabilities.
The company is also focusing on improving profitability across overseas operations rather than pursuing expansion based solely on store additions.
International EBITDA margins remained above 10 per cent for the second consecutive quarter, indicating progress towards building a more sustainable overseas business.
The improvement is important as Lenskart continues investing in new markets and strengthening its operational infrastructure.
Its international expansion is supported by a business model that seeks to combine locally relevant product offerings with manufacturing and technology capabilities developed within its wider network.
Store Expansion Strengthens Retail Presence
Physical retail expansion remains a major component of Lenskart’s long-term business strategy.
The company added 143 net new stores during the first half of FY27, taking its total store network to 3,624 locations.
The expanding retail network is helping the company reach customers who prefer to examine eyewear products physically before making purchases.
Its outlets also provide services such as eye testing, prescription assistance, product fitting and after-sales support.
The combination of online and offline channels allows customers to move between digital shopping and physical stores according to their requirements.
Lenskart believes that physical retail locations remain important for building consumer confidence, particularly in the prescription eyewear category.
The company is also developing specialised store formats to improve customer experience and offer a wider range of products.
A notable development during the quarter was the opening of its new concept store, Lenskart Evolv, in Mumbai’s Worli area.
The outlet reflects the company’s focus on creating a more interactive retail environment where customers can explore different eyewear styles and experience its product offerings.
Remote Optometry Expands Eye Testing Services
Technology continues to play an important role in Lenskart’s expansion strategy.
The company has introduced remote optometry services across 934 stores, allowing customers to access eye testing through technology-supported processes.
The initiative is intended to improve access to vision correction services, particularly in locations where qualified eye-care professionals may not always be readily available.
Remote optometry allows trained personnel to conduct or support eye examinations through digital systems and connected equipment.
The approach can help standardise certain aspects of eye testing while improving the availability of services across the retail network.
Lenskart has been investing in technology to make its operations more efficient, from product manufacturing and inventory management to customer service and eye-care delivery.
The company’s management believes that improving access to vision correction represents a major long-term opportunity, particularly in markets where a large population still lacks adequate eyewear.
The expansion of remote optometry services could help the company strengthen its position as a technology-driven eyewear retailer.
Product Premiumisation Supports Business Growth
Another important factor behind Lenskart’s performance has been the increasing contribution of premium eyewear products.
The company has been expanding its product range to serve consumers looking for different combinations of quality, design, comfort and affordability.
Premiumisation allows retailers to attract customers seeking branded and specialised products while improving the overall value of their product offerings.
Lenskart has continued to invest in developing its own brands and expanding its portfolio of frames and lenses.
Its product margin stood at 70 per cent during the September quarter, compared with 69.2 per cent in the corresponding period last year.
The improvement came despite pressure from the depreciation of the Indian rupee.
The company’s integrated manufacturing and distribution structure also helps it manage product costs and maintain control over different stages of the supply chain.
By strengthening its in-house capabilities, Lenskart aims to reduce dependence on external suppliers while improving product availability and operational efficiency.
Manufacturing Capabilities Remain a Strategic Priority
Manufacturing is a key component of Lenskart’s business model.
The company has been investing in production facilities and technology to strengthen its ability to manufacture eyewear products at scale.
Its integrated approach allows it to manage several activities, including frame production, lens manufacturing, product design and distribution.
The company is also preparing to expand its manufacturing capabilities through an upcoming facility in Hyderabad.
Greater manufacturing capacity could help support domestic and international demand while improving supply chain efficiency.
The expansion of in-house production is particularly relevant as the company continues adding stores and entering additional markets.
A stronger manufacturing network can also help reduce delivery timelines and provide greater flexibility in introducing new designs.
Lenskart’s focus on production technology and automation is intended to improve consistency, efficiency and product quality.
First-Half Performance Reflects Business Momentum
The company’s performance during the first six months of FY27 also demonstrated strong growth.
Revenue increased 33 per cent year-on-year to Rs 5,559 crore during the first half of the financial year.
Profit after tax reached Rs 461 crore, equivalent to approximately 87 per cent of the company’s full-year profit in FY26.
The achievement indicates that the company has maintained strong financial momentum during the current fiscal year.
Its trailing 12-month revenue also crossed the Rs 10,000 crore mark, highlighting the scale of its expanding operations.
Operating cash flow for the first half stood at Rs 388 crore, while return on capital employed improved to 22.5 per cent from 14.6 per cent in FY26.
These indicators suggest that Lenskart is focusing not only on increasing revenue but also on improving capital efficiency and generating cash from its business operations.
CEO Peyush Bansal Highlights Long-Term Vision
Commenting on the results, Lenskart Chairman, Managing Director and Chief Executive Officer Peyush Bansal highlighted the importance of improving access to vision correction through technology and large-scale manufacturing.
He said the company was working towards addressing the significant global population that does not have access to adequate eyesight correction.
Bansal emphasised the role of remote optometry, manufacturing capabilities and product innovation in supporting the company’s long-term ambitions.
He also highlighted the company’s approach of building a business that connects manufacturing facilities directly with customers through its retail and digital platforms.
The management believes that technology, product development and customer accessibility will remain important factors in the next phase of growth.
Outlook for FY27
Lenskart’s September-quarter results indicate that the company is benefiting from strong demand across domestic and international markets.
The increase in revenue, expansion in EBITDA margins and improvement in profitability suggest that its business model is gaining scale.
However, continued expansion will require investments in new stores, manufacturing facilities, technology and international operations.
The company will also need to maintain product quality, manage operating expenses and respond to increasing competition in the eyewear industry.
Its ability to sustain sales growth while improving capital efficiency will remain important for investors.
With its expanding retail network, growing international presence and increasing use of technology in eye-care services, Lenskart is positioning itself for further growth in the global eyewear market.
The coming quarters will indicate whether the company can maintain its current growth momentum while strengthening profitability and expanding access to affordable vision correction.