Lenskart Q4: Profit slips 8.5% to Rs 200 cr even as revenue jumps 45.6% to Rs 2,516 cr
Tier 2+ town traction and margin expansion prompt Jefferies (TP Rs 600) and Morgan Stanley (TP Rs 576) to turn constructive. Management guides for 25% annual volume growth and a 25% steady-state EBITDA margin, though near-term profit drop trimmed early 6% share gains.
What happened
Lenskart Q4 FY26 net profit fell 8.5% YoY to Rs 200 crore while revenue jumped 45.6% to Rs 2,516 crore. Jefferies and Morgan Stanley raised target prices,
Key facts
- Q4 FY26 net profit Rs 200 crore (-8.5% YoY)
- Revenue Rs 2,516 crore (+45.6% YoY)
- Jefferies TP Rs 600
- Morgan Stanley TP Rs 576
- Shares opened +6.19% at Rs 517
- Target 25% annual volume growth
- Steady-state EBITDA margin target 25%
Why this matters
Lenskart's deepening tier 2+ moat and credible 25% volume guidance raise the strategic premium for any acquirer eyeing India's organized eyewear stack, even as short-term profit compression may temporarily soften valuation anchors.