Lenskart Solutions reported a net profit of ₹228 crore for the quarter ended June 30, 2026, a 182% year-on-year increase from the previous year’s period. Consolidated revenue rose 34% YoY, driven by broad-based growth across domestic and international markets. The company’s post-rent EBITDA doubled, reflecting significant operating leverage as same-store sales growth (SSG) in India held steady at 18.3% despite aggressive store expansion.

Financial Performance

The financial results highlight a divergence between top-line growth and margin expansion, with profitability accelerating faster than revenue. India revenue grew 30.7% YoY to ₹1,531 crore, while the segment’s EBITDA pre-Ind AS 116 margin expanded by 2 percentage points to 15.4%. This margin improvement was fueled by product margin expansion to 64.2% and marketing efficiency gains, which fell from 5.7% to 4.8% of revenue.

Internationally, revenue grew 38% YoY to ₹1,203 crore (29% on a constant currency basis). The international segment achieved an EBITDA pre-Ind AS 116 margin of 10.6%, up from 4.5% last year, with absolute EBITDA tripling to ₹127 crore. This improvement stems from deeper supply chain integration for brands like Owndays and Meller, pushing product margins to 77.1%.

*Consolidated revenue figures derived from segment disclosures.

What the Numbers Show

A critical analytical observation is the disproportionate contribution of the international segment to consolidated profits despite lower absolute revenue compared to India. While India generated higher revenue (₹1,531 crore vs ₹1,203 crore), the international segment’s EBITDA of ₹127 crore represents a significantly higher margin yield (10.6%) compared to India’s implied EBITDA contribution relative to its larger base. Furthermore, the company generated ₹297 crore in operating cash flow, achieving an 82% EBITDA-to-cash conversion ratio. This strong cash generation funded ₹75 crore in store capex and ₹132 crore in plant capex, primarily for the Hyderabad facility, leaving a positive net cash inflow of ₹116 crore before M&A activities.

Operational Highlights

Same-store sales growth in India remained robust at 18.3%, broad-based across tiers. Same pin code sales growth reached 24%, outpacing SSG and indicating that densification strategies are generating incremental demand rather than cannibalizing existing stores. The company added 116 net new stores in India and entered 50 new cities. Eye tests grew 42.7% to 63 lakh, with remote optometry now available in 786 stores, up from 168 at the end of FY25.

Internationally, growth was volume-led, with eyewear units up 37.6% and transacting customers rising 27.8%. Sunglasses units surged 58.4% due to seasonal peaks. The company added only 16 net new stores internationally, highlighting the strength of its existing store network. Return on capital employed (ROCE) improved to 23% from 14.6% last year, reflecting disciplined capital allocation and improving profitability.

Strategic Initiatives

Management emphasized market creation over competition, noting that 78 crore Indians need vision correction, a number expected to rise to 94 crore by FY30. The company launched a ₹500 eyewear option through Hustlr Club, targeting price-sensitive consumers, while simultaneously pushing premiumization with high-end lenses from brands like Rodenstock and Tokai. Internationally, Owndays is tracking to become a $70 million brand, up from $35 million at acquisition. The company also piloted AI-driven self-eye tests to scale beyond optometrist constraints, aiming to serve the next billion people with vision care infrastructure.

Lenskart Solutions Limited concluded its 18th Annual General Meeting (AGM) on August 19, 2026. The meeting, held through video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs and SEBI circulars, ran from 11:00 am to 12:30 pm IST. Seventy-five members, holding a total of 30,25,39,325 shares, were present for the proceedings.

Mr. Peyush Bansal, Chairman of the Board, chaired the meeting. Other key attendees included Mr. Amit Chaudhary, Executive Director; Mr. Abhishek Gupta, Chief Financial Officer; and Mr. Ashish Kumar Srivastava, Company Secretary & Chief Compliance Officer. The representatives of the statutory auditors, S.R. Batliboi & Associates LLP, and the secretarial auditors, DPV & Associates LLP, were also present.

Resolutions Passed

Shareholders voted on four resolutions via remote e-voting and during the meeting. The e-voting facility had commenced on August 14, 2026, at 9:00 am and remained open until 30 minutes after the conclusion of the AGM to accommodate late voters. Mr. Devesh Kumar Vasisht of DPV & Associates LLP served as the scrutinizer for the meeting.

The following ordinary resolutions were put to vote:

• Adoption of the Audited Standalone Financial Statements for the financial year ended March 31, 2026, along with the reports of the Board of Directors and Auditors.
• Adoption of the Audited Consolidated Financial Statements for the financial year ended March 31, 2026, along with the report of the Auditors.
• Re-appointment of Ms. Neha Bansal (DIN: 02057007) as a Director, who retires by rotation and offered herself for re-appointment.
• Approval of the appointment of Secretarial Auditors for the company.

Meeting Proceedings

Mr. Ashish Kumar Srivastava welcomed the members and outlined the voting procedures. He confirmed that since there was no physical attendance, the requirement for appointing proxies did not apply. The Chairman subsequently briefed the members on the company’s business operations and financial performance before inviting questions.

Out of nine registered speaker shareholders, eight raised questions or comments, which the Chairman addressed. The statutory and secretarial audit reports contained no qualifications, observations, or adverse remarks requiring specific reading at the meeting.

The voting results are scheduled to be announced within two working days of the meeting’s conclusion. These results will be intimated to the stock exchanges and uploaded to the company’s website and the National Securities Depository Limited (NSDL) portal.