Lenskart Solutions Limited has acquired an additional 3% stake in Quantduo Technologies Private Limited, making it a wholly-owned subsidiary. The acquisition was completed on June 9, 2026, for a cash consideration. This move increases the aggregate shareholding of Lenskart Solutions in Quantduo to 100% of the fully diluted share capital.

Prior to this transaction, the company had acquired a 4.65% stake in Quantduo on March 16, 2026. The aggregate increase in shareholding since the last disclosure is 7.65%. The total cost of subscription for acquiring the remaining 7.65% shareholding across both dates is INR 36.76 million.

The acquisition falls within the ambit of related party transactions as Quantduo is a subsidiary of the company. The transaction was undertaken on an arm's length basis in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Amit Chaudhary, Promoter and Director of Lenskart Solutions, is also a director on the Board of Quantduo.

Quantduo is a private limited company incorporated in India on December 29, 2018. It operates in the technology industry, providing advanced analytics solutions. The company's business aligns with the main line of business of Lenskart Solutions. The acquisition aligns with the strategic objective of consolidating ownership and strengthening the controlling shareholder position.

Financial Performance of Quantduo

The turnover of Quantduo has shown growth over the last three financial years. The following table summarises the company's revenue trajectory:

Macquarie has reiterated its Outperform rating on lenskart solutions , setting a target price of ₹600. The brokerage's stance is anchored in the company's sustainable growth momentum in India and a compelling international business trajectory, alongside an upward revision in earnings estimates.

Key Highlights of Macquarie's Rating

The following table summarises the key parameters of Macquarie's updated assessment on Lenskart:

Growth Momentum and Earnings Upgrade

Macquarie's Outperform stance on Lenskart is supported by several key factors. The brokerage points to sustainable growth momentum in India as a primary driver, reflecting the company's continued expansion in the domestic eyewear market. Alongside this, Macquarie projects a 35%+ EBITDA CAGR for the company over FY26–29, signalling strong medium-term earnings potential. The brokerage has also revised its EPS and target price estimates upward by 5%, indicating improved confidence in Lenskart's earnings trajectory.

International Business Outperforming India at Similar Scale

A notable aspect of Macquarie's assessment is the performance of Lenskart's international operations. The brokerage highlights that international sales and margin traction are outperforming India at a similar scale, underscoring the company's ability to replicate its domestic business model effectively in overseas markets. This international momentum adds an additional layer of growth visibility beyond the India business.

Summary

Macquarie's maintained Outperform rating and ₹600 target price on Lenskart reflect a broadly positive outlook driven by domestic growth sustainability, a 35%+ EBITDA CAGR projection over FY26–29, and outperforming international operations. The 5% upward revision in both EPS and target price estimates further reinforces the brokerage's constructive view on the company's near-to-medium-term financial performance.