Lenskart Solutions shares surge nearly 4% after arm acquires Korean startup

Shares of the country's leading eyewear maker, Lenskart Solutions, rose as much as 3.98% to hit an intraday high of ₹470 on the National Stock Exchange on Friday, December 26 after the company on Wednesday night informed exchanges that its subsidiary acquired a Korean startup. On the BSE, Lenskart shares rose as much as 4.3% to hit an intraday high of ₹471.35.

Lenskart on Wednesday, December 24, post market hours, informed exchanges that the board of directors of Lenskart Singapore, a wholly owned subsidiary of Lenskart Solutions, approved an investment of 3 billion Korean won (approximately ₹18.6 crore) for the acquisition of 29.24% stake in iiNeer Corp., Ltd., a company incorporated under the laws of the Republic of Korea.

iiNeer Corp is a Korea-based startup focussed on developing technology-enabled eye-testing and lens-cutting equipment.

Lenskart said that the investment supports its efforts to build proprietary capabilities in core equipment and is expected to improve operating efficiencies and reduce equipment capital expenditure over time.

Lenskart's objective for acquiring iNeer Corp. is for enabling In-house optical hardware capabilities – manufacturing of lens edging system comprising of edger, tracers and blockers.

As part if the transaction Lenskart will acquire 1,23,945 preference shares in iiNeer for a consideration 3 billion Korean wons.

Lenskart Q2 earnings

Lenskart last month reported a 19.59% increase in consolidated profit after tax to ₹102.21 crore in Q2 FY26. It had reported a profit after tax of ₹85.46 crore in the same period a year ago.

Lenskart posted a 26% year-on-year increase in product margin accruals in the reported quarter to ₹1,485 crore, from ₹1,180.7 crore.

The product margin during the September quarter was up 69.2%, from 68.1% in the September 2024 quarter.

The company's revenue from operations advanced 20.76% to ₹2,096.14 crore in the quarter under review as against ₹1,735.68 crore in Q2 FY25.

Lenskart has also published a pro forma financial report, a forward-looking estimate, showing the company's profit increased by almost 50% to ₹113 crore during the reported quarter, from ₹75.6 crore in the September 2024 quarter.

Revenue from operations, as per the pro forma financial statements, climbed 24% to ₹2,146.6 crore from ₹1,732.6 crore in the September 2024 quarter.

As of 1:45 pm, Lenskart shares traded 1.55% higher at ₹459, outperforming the NIFTY IPO index which was down 0.23%.