Company Overview
Lenskart Solutions is India's leading omnichannel eyewear platform, providing prescription and non-prescription eyewear across online and offline channels. The company operates through a network of company-owned (CoCo) stores and strategic retail partnerships, offering a diverse product portfolio including optical frames, sunglasses, lenses, and eye care solutions. Founded on principles of accessibility and quality, Lenskart has revolutionized eyewear retail in India.
Offer Details
| Category | Amount (₹ Cr) | Shares (Cr) | Allocation % |
|---|---|---|---|
| Fresh Issue | 2,150.00 | 5.35 | 29.5% |
| Offer for Sale (OFS) | 5,128.02 | 12.76 | 70.5% |
| Total | 7,278.02 | 18.11 | 100% |
IPO Use of Proceeds (Fresh Issue)
| Purpose | Amount (₹ Cr) | % Allocation |
|---|---|---|
| CoCo Store Setup (Capex) | 272.62 | 12.68% |
| Store Lease & License Payments | 591.44 | 27.51% |
| Technology & Cloud Infrastructure | 213.38 | 9.93% |
| Brand Marketing & Promotion | 320.06 | 14.89% |
| Inorganic Acquisitions & Corporate | 752.50 | 34.99% |
Why Invest in Groww?
- Leading omnichannel eyewear platform with strong brand presence
- Revenue growth of 25% YoY demonstrating strong market demand
- Profitability improvement with PAT growing significantly
- Strategic expansion plan: 272.62Cr for new CoCo store setup
- Technology investments improving digital experience and operations
- Estimated market cap of ~₹69,700 Cr at upper price band
- Growing eyewear market in India with increasing online penetration
Disclaimer: All information provided on this page is for educational purposes only and should not be considered as financial advice.
Financial Performance
| Metric | FY 2023 | FY 2024 | FY 2025 | Q1 FY26 |
|---|---|---|---|---|
| Total Income (₹ Cr) | 3,927.97 | 5,609.87 | 7,009.28 | 1,946.10 |
| Revenue Growth YoY | - | 42.83% | 24.93% | - |
| PAT (₹ Cr) | -63.76 | -10.15 | 297.34 | 61.17 |
| Net Margin | -1.62% | -0.18% | 4.24% | 3.15% |
Key Valuation Metrics
| Metric | Value |
|---|---|
| Estimated Market Cap (Upper Band) | ~₹69,700 Cr |
| FY25 Revenue | ₹7,009.28 Cr |
| FY25 PAT | ₹297.34 Cr |
| Price to Sales (Est.) | ~9.95x |
| Price to Book | High Growth Valuation |
Investment Highlights
Lenskart represents a compelling investment opportunity in the high-growth eyewear sector. The company's transformation from losses to profitability within two years demonstrates operational excellence and market leadership. The significant capital allocation for store expansion and technology infrastructure indicates confidence in future growth prospects.
The omnichannel strategy combining online convenience with offline experience provides competitive advantages. With India's eyewear market growing at 12-15% CAGR, Lenskart is well-positioned to capture market share and expand margins further.
Key Strengths
- Market leader in omnichannel eyewear with strong brand equity
- Rapid profitability turnaround achieving ₹297Cr PAT in FY25
- Strong revenue growth of 25% YoY demonstrating market demand
- Diversified customer base across income segments
- Technology-enabled operations improving efficiency
- Expansion into untapped geographies and customer segments
Risk Factors
- High competitive intensity from established retail and online players
- Store expansion execution and real estate risks
- Technology disruption and changing consumer preferences
- Supply chain and inventory management challenges
- Regulatory changes in retail and e-commerce sectors
Leadership & Investors
Pre-IPO Investor Base
SoftBank Vision Fund, Kedaara Capital, Schroders, Alpha Wave, and founding team with continued backing indicating strong growth prospects and operational execution.
Strategic Positioning
Company founded on vision to democratize eyewear in India through technology and omnichannel experience. Strong emphasis on customer-centric innovation and operational excellence.