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.

Lenskart Solutions has confirmed the formal incorporation of its step-down subsidiary, Wenzhou Framekart Trade Co., Ltd, in the People’s Republic of China. The company received the Certificate of Incorporation on August 17, 2026, following the entity’s establishment on August 14, 2026. This development operationalises a strategic initiative approved by the Board of Directors on August 12, 2026, aimed at strengthening supply chain resilience and expanding the company’s global footprint.

Wenzhou Framekart Trade Co., Ltd is incorporated as a subsidiary of Baofeng Framekart Technology Limited (BFT), which is a joint venture of Lenskart Solutions. Upon incorporation, BFT holds 95% of the equity interest in the new entity. As a Chinese limited liability company, ownership is represented through equity interests rather than specific shares. The initial subscription cost was RMB 1 Million (approx. ₹14.14 Million), paid as cash consideration by BFT.

Strategic role and operations

The new entity will undertake the business of trading, importing, exporting, and procuring spectacle frames and allied optical products. Its scope includes related materials, equipment, and technology required for the business of BFT and its subsidiaries from time to time. This move supports Lenskart’s broader strategy of backward integration and localised supply chains, particularly in key manufacturing hubs like China.

Baofeng Framekart currently contributes more than 30% of the total eyewear production requirements of the Lenskart Group. The establishment of Wenzhou Framekart aims to enhance manufacturing control and support localisation strategies by streamlining procurement and trading activities within the region.

Recent financial context

This corporate action follows Lenskart’s strong Q1FY27 results, where consolidated net profit after tax (PAT) surged 182% to ₹228 crore. Consolidated revenue grew 33.6% to ₹2,714 crore, driven by robust performance in both domestic and international segments. The Board had previously approved several strategic initiatives alongside these results, including the acquisition of an additional 19% equity stake in Baofeng Framekart Technology Limited, increasing Lenskart’s indirect shareholding to 70%.

The company also approved the incorporation of OWNDAYS Korea as a wholly owned step-down subsidiary in the Republic of Korea during the same period. These moves underscore Lenskart’s push toward deeper vertical integration and expanded international presence.