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India's leading eyewear retailer, selling prescription glasses, sunglasses and contact lenses through omnichannel stores and online.
India's leading eyewear retailer, selling prescription glasses, sunglasses and contact lenses through omnichannel stores and online.
Makes much of its own eyewear in large factories and sells it through its own stores and website, so it keeps the retailer's margin as well as the maker's and controls delivery times. Prescription glasses carry the business. Japan's Owndays, bought in 2022, gave it a base in East Asia.
In one line: India's Warby Parker/LensCrafters hybrid.
Moat: narrow (brand, scale, distribution). A vertically integrated omnichannel model (own stores plus online plus manufacturing) gives cost and reach advantages over fragmented local opticians.
Headquarters: Faridabad, India · Founded: 2010 · Employees: 21,859
Size Lenskart Solutions (LENSKART.NS) is an India Health Care company (Medical Specialties) with a market value of $13.4B, the 78th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹724.75 on 6 Nov 2026.
Performance Over six months the shares gained 48.6%, against +28.7% for the median peer and 0.0% for the India market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 35.4% over the last twelve months (peer median +4.6%); the operating margin is 9.9% (peer median 16.1%).
Valuation It trades at 137.4× forward earnings against a peer median of 19.9× (2nd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 53% a year for seven years (Req g). Recent delivered growth is +34%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.9 points below its cost of capital (9.8% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹104B | ₹88.1B | ₹65.1B | ₹52.8B | ₹37.0B |
| Revenue growth | — | +35% | +23% | +43% | — |
| Gross profit | ₹37.6B | ₹27.2B | ₹21.6B | ₹17.1B | ₹14.4B |
| EBITDA | ₹22.1B | ₹18.5B | ₹8.56B | ₹5.34B | ₹1.52B |
| Net income | ₹7.80B | ₹4.94B | ₹2.96B | -₹175M | -₹680M |
| Free cash flow | n/a | ₹8.90B | ₹8.54B | ₹1.24B | -₹3.21B |
| Capital expenditure | n/a | ₹8.28B | ₹4.27B | ₹4.38B | ₹4.13B |
| Total debt | ₹34.6B | ₹31.0B | ₹25.7B | ₹21.8B | ₹23.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Lenskart Solutions LENSKART.NS | $13.4B | +49% | +35% | 10% | 137.4× | 52.8% |
| Titan TITAN.NS | $46.9B | +16% | +45% | 9% | 68.6× | n/a |
| Warby Parker WRBY | $3.15B | -14% | +11% | 0% | 57.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LENSKART.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +12.8% | 8th lowest of 21 |
| 6-month return | +48.6% | +28.7% | 7th highest of 21 |
| Distance from 52-week high | -5.0% | -13.5% | 4th highest of 21 |
| Revenue growth (TTM) | +35.4% | +4.6% | 2nd highest of 21 |
| Operating margin | 9.9% | 16.1% | 7th lowest of 21 |
| Forward P/E | 137.4× | 19.9× | 2nd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 52.8% | 10.7% | most demanding of 19 |
| Growth delivered (Del g) | +33.5% | +7.5% | highest of 19 |
| Hurdle (Req g minus delivered) | +19.2 pp | +4.4 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | -2.9 pp | +2.2 pp | 6th lowest of 21 |
| EV / EBITDA | 57.8× | 14.2× | 2nd most expensive of 18 |
| Net debt / EBITDA | 0.7× | 1.8× | 6th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lenskart Solutions LENSKART.NS | India | $13.4B | +49% | +35% | 10% | 137.4× | 52.8% | +33.5% |
| Baxter International BAX | United States | $13.3B | +43% | +5% | 6% | 12.6× | 12.7% | -0.7% |
| Glaukos GKOS | United States | $13.3B | +68% | +47% | -9% | 155.4× | n/a | n/a |
| Smith & Nephew SN..L | United Kingdom | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% | +5.6% |
| Penumbra PEN | United States | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% | +20.2% |
| bioMerieux BIM.PA | France | $12.4B | +29% | -3% | 15% | 20.9× | 8.9% | +5.5% |
| Olympus 7733.T | Japan | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% | +6.7% |
| Shanghai United Imaging Healthcare 688271.SS | China | $14.8B | +9% | +27% | 9% | 46.9× | n/a | n/a |
| Cooper Companies (The) COO | United States | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% | +11.0% |
| Align Technology ALGN | United States | $11.8B | -2% | +4% | 19% | 13.9× | 11.4% | +10.3% |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Revvity RVTY | United States | $17.3B | +54% | +5% | 15% | 26.7× | 27.3% | -5.5% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| Coloplast A/S COLO-B.CO | Denmark | $17.7B | +26% | +4% | 25% | 19.9× | -1.8% | +8.3% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Sartorius SRT.DE | Germany | $20.0B | +34% | +4% | 18% | 42.6× | 24.9% | +8.7% |
| Zimmer Biomet ZBH | United States | $20.1B | +29% | +7% | 16% | 12.0× | -1.4% | +3.2% |