Lenskart Solutions LimitedConsumer GoodsLENSKART
Q1 FY27 concall · earnings callLenskart Solutions Limited
Lenskart delivered accelerating growth and profitability, showing its market creation playbook works as it expands density, enters new towns, and serves both premium and mass price points.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue Growth | 34% | YoY | |
| PAT | ₹228 Cr | 182% YoY | |
| India SSSG | 18.3% | — | |
| International Revenue Growth | 38% | — | |
| Consolidated Product Margin | crossed 70% | — | |
| India EBITDA margin | 15.4% | up 2 percentage points | |
| International EBITDA margin | 10.6% | up from 4.5% last year |
TL;DR
- Revenue grew 34% YoY and PAT grew 182% to ₹228 crores.
- India same-store sales grew 18.3%, and product margin crossed 70%.
- The company added 455 net new stores in nine months, the fastest in its history.
- International revenue grew 38% with EBITDA margin crossing 10% for the first time.
- Management emphasized building the 'infrastructure of vision' with a focus on AI, self-eye tests, and a ₹500 eyewear entry point.
Said on the call
“We set out to sell glasses. What we are building is the infrastructure of vision for the billion people no one has ever served.”
From the Q&A
| Topic | What management said |
|---|---|
| Store Growth and Same-Store Sales | Management stated that despite adding density (150 stores in existing pin codes), same-store sales growth held at 18%, and same pin code sales grew 24%, indicating demand is being added, not divided. They emphasized eye tests as the key funnel driver. |
| Currency and Product Margin | CFO noted a natural hedge from non-INR revenues and that product margin resilience was due to structural initiatives like in-house manufacturing and volume discounts, though short-term headwinds remain if currency worsens. |
| Supply Constraints and Store Addition Pace | CEO said the opportunity exists to open more stores, but the focus is on building the muscle to serve Tier 2/3 towns with the same customer experience. Remote optometry and AI eye tests are key enablers for accelerating store additions. |
| Premiumization and ₹500 Eyewear | Premium is defined as ₹10,000+ frames and ₹3,500+ lenses, with ₹250 crores annual revenue from ₹30,000+ progressive lenses. The ₹500 price point was cracked through manufacturing in India, optimized logistics, and omnichannel customer acquisition. |
| International Business Margins and Expansion | Management confirmed Q1 is seasonally stronger due to sunglasses. They see time coming closer for accelerated international store expansion, with Thailand highlighted. The playbook is similar to India, focusing on unit economics and tech integration first. |
Guidance
- India alone points past 10,000 stores now.
- International EBITDA margin question 'is gone', what remains is scale.
- Endeavour is to continue to improve on Y-o-Y [international] margin numbers.
- Plans are getting made for accelerated store expansion in some international markets in the years to come.
Source
Summary written from the transcript filed by Lenskart Solutions Limited for the call held on 12 Aug 2026; published 20 Aug 2026, 09:59 IST.
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