Shares of Lenskart rallied sharply over 6% in early trade on May 21 after the company reported a strong set of Q4FY26 earnings, supported by robust revenue growth, margin expansion and improving profitability across domestic and international operations.
As of 10:00 AM IST, Lenskart shares were trading near the day’s high after opening at ₹513 compared to the previous close of ₹486.85. The stock touched an intraday high of ₹517 and a low of ₹490 during the session. The counter has a 52-week high of ₹557.65 and a 52-week low of ₹356.10. Live traded volume stood at over 1.61 crore shares.
What worked for Lenskart in Q4FY26
According to brokerage firm Motilal Oswal Financial Services, Lenskart delivered a “massive” earnings beat in the March quarter, driven by strong execution and operating leverage.
The brokerage highlighted that revenue rose around 41% year-on-year in Q4FY26, while pre-Ind AS EBITDA doubled compared to the same period last year. Growth was supported by strong volume expansion, premiumisation, richer product mix and better operating efficiencies.
Motilal Oswal said FY26 marked a major step-up year for the eyewear company, with annual revenue growth accelerating to nearly 32% YoY versus 23% growth in FY25. EBITDA reportedly surged around 96% during the year, alongside nearly 370 basis points of margin expansion.
The brokerage noted that higher store density, backward integration, supply-chain efficiencies and technology-led execution are helping incremental revenues translate into stronger EBITDA and profit growth.
Another key positive highlighted by the brokerage was improving profitability in Lenskart’s international business, which is scaling up faster than expected and strengthening the company’s long-term earnings outlook.
Brokerages remain bullish on Lenskart
Motilal Oswal reiterated its “Buy” rating on Lenskart and raised its target price to ₹650, implying a potential upside of around 34% from current levels.
The brokerage termed the stock a “high conviction buy” and said the company appears to be entering a structural compounding phase supported by sustained growth visibility and improving margins.
Management has also reiterated its long-term EBITDA margin aspiration of around 25%, which the brokerage believes leaves room for further earnings compounding as operating scale improves.
Following the strong quarterly performance, Motilal Oswal increased its FY27 and FY28 EBITDA estimates by around 15% and 10%, respectively, citing stronger growth visibility and operational efficiency gains across both domestic and international markets.
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