Motilal Oswal lifts Lenskart target to Rs 650, reiterates Buy after Q4 beat
Brokerage raises FY27E/FY28E estimates—revenue +5%/6%, Ebitda +15%/10%, PAT +12%/7%—citing omnichannel scale, backward integration and house-of-brands play. Models 25% revenue, 42% Ebitda and 44% PAT CAGR over FY26-28E, valuing the stock at 55x FY28E Ebitda.
Motilal Oswal reiterates Buy on Lenskart with raised Rs 650 target after Q4 beat, citing omnichannel scale, backward integration, house-of-brands strategy, and projected 25%/42%/44% CAGR in revenue/Ebitda/PAT through FY28E.
Why this matters
The upgrade follows Lenskart's Q4 where revenue jumped 46% to Rs 2,516 cr but profit slipped ~8% on cost pressure, alongside 183 new stores taking the global count to 3,327.
Retail-company coverage steady at 759 signals in the last 90 days.