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  5. Lenskart shares hit fresh all-time high: Check key takeaways from Q2 results, what analysts said

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Lenskart shares hit fresh all-time high: Check key takeaways from Q2 results, what analysts said

image Ahana Chatterjee
By Ahana Chatterjee

4 min read | Updated on November 05, 2026, 11:15 IST

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SUMMARY

For the quarter ended September 2026, the company’s revenue from operations jumped 32.5% YoY, led by volume growth and premiumisation.

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LENSKART
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Lenskart-solutions-share-price-Nov-5

For Q2 FY27, Lenskart said it has sold 1.1 crore eyewear units, up 27.1% YoY. | Image: Shutterstock

Lenskart Solutions shares jumped 10.5% to hit fresh all-time high of ₹762.75 apiece on Thursday, November 5, as investors cheered Q2 FY27 earnings.
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For the quarter ended September 2026, the company’s revenue from operations jumped 32.5% YoY to ₹2,845 crore, led by volume growth and premiumisation. The Indian business surged 35.3% YoY, and the international business surged 29.5% YoY (~23.5% in constant currency).

At the operating level, the company’s EBITDA surged 46.6% YoY to ₹624 crore, and the margin expanded by 21.9%. The net profit more than doubled to ₹232 crore, up from ₹112 crore in the corresponding quarter last year.

What led to operational improvement?

Lenskart delivered steady margin improvement for the quarter despite global currency headwinds. The India business showed EBITDA of ₹267 crore, up 61% YoY, and the margin expanded from 13.4% in Q2FY26 to ₹16% in Q2FY27.

Similarly, the India segment product margin improved from 63.4% to 64% in Q2FY27. This helped the overall product margin improve from 69.2% in the quarter ended September 2025 to 70.2% for the quarter ended September 2026. A large part of this resilience was driven by in-house integration to absorb the adverse currency impact.

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International business highlights

The revenue from international operations surged 29.5% YoY to ₹1,201 crore as compared to ₹928 crore in the corresponding quarter last year. The product margin for the international business surged to 77.1% in Q2 of FY27 as compared to 75.5% in Q2 of FY26. Owing to superior product margins and robust revenue growth, the EBITDA for the international business rose 45.9% YoY to ₹264 crore.

Operational metrics

For Q2 FY27, Lenskart said it has sold 1.1 crore eyewear units, up 27.1% YoY. Besides this, the company also added 165 new stores, which is 16.2% higher than last year’s 142 store additions. It now operates 3,624 stores.

Here’s what analysts said

Analysts from Citi highlighted that store expansion, premium lenses and higher sales volumes supported growth for Lenskart. They added that operating leverage and in-house manufacturing should drive gradual margin improvement, while premium valuations and tougher second-half comparisons could limit the potential for a valuation rerating.
CLSA analysts said Lenskart’s sales grew 36% YoY, in line with estimates. They noted that Lenskart’s ability to profitably serve both ends of the market provides a durable advantage for sustained long-term growth.
Further, analysts from Jefferies said that the compounding story continues with strong growth for Lenskart and sharp margin expansion. They also said that despite forex pressure, margin progression of the company is on track with seven levers identified toward 25% EBITDA without a timeline, as growth is a priority.
The Q2 EBITDA was above the Macquarie estimate, as sharper store additions and mix led realisation picked up and drove better than expected 50% YoY EBITDA growth in India. The analysts believe AI-led eye testing could widen the customer funnel by increasing testing throughput and reducing optometrist supply constraints.
Also read: Airtel Q2 results: Revenue and net profit likely to see double-digit growth; key focus on ARPU and subscriber addition

Lenskart share price trends

At 11 AM, Lenskart shares were trading at ₹739.45 apiece on the National Stock Exchange, gaining 7.21%. The stock has soared 90% from its IPO issue price of ₹402 per share on Thursday.

From the beginning of the year, Lenskart shares have jumped 68%. Over a month’s time, the stock has advanced 6%, while for a six-month period, it has surged 46%.

According to NSE data, as of November 5, 2026, Lenskart has a total market capitalisation of ₹1.28 lakh crore.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

image Ahana Chatterjee
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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