Lenskart Share Price: Retail firm's Q4 profit slips 7.5%, but here's why stock may still deliver 30% returns

Lenskart Solutions reported a 7.5 per cent year-on-year decline in consolidated profit after tax for the March quarter of FY26, mainly due to higher expenses on components and inventories.

The company posted a consolidated profit after tax of Rs 203.6 crore for the quarter ended March 31, 2026, compared with Rs 220.1 crore in the corresponding period last year, according to a regulatory filing.

Revenue from operations rose 45.62 per cent year-on-year to around Rs 2,516 crore in the March quarter from Rs 1,728 crore in the year-ago period. Lenskart said eyewear unit sales grew 25.2 per cent year-on-year to 97 lakh units during the quarter.

India, International Business Performance

The company said the average selling price in India increased 15.9 per cent year-on-year to Rs 1,865 in the March quarter. It attributed the increase to a shift towards premium products and normalisation of the base impacted by the lens replacement offering launched in Q4FY25.

Revenue from the international business increased 35.4 per cent year-on-year to Rs 1,054 crore.

The company said the growth remained broad-based across Japan, Southeast Asia, the Middle East and other international markets. It added that on a constant currency basis, revenue growth in the fourth quarter was around 25 per cent year-on-year.

FY26 Performance and Store Expansion

For the full financial year 2025-26, Lenskart reported a nearly 68 per cent jump in net profit to Rs 501 crore from Rs 297.3 crore in FY25.

Revenue from operations for FY26 increased 32 per cent year-on-year to Rs 8,814 crore. The company recorded a 24.7 per cent increase in eyewear sales to 3.53 crore units during FY26.

Lenskart added 542 net new stores in India during FY26 compared with 282 stores added in the previous financial year.

Lenskart Share Price Target

Brokerages maintained positive views on the stock after the quarterly results. Jefferies maintained its “Buy” rating and raised the target price to Rs 600 from Rs 575. The revised target implies an upside of around 19.8 per cent from the current market price of Rs 501.

The brokerage said the company delivered another strong quarter, supported by growth and margin improvement. It added that management commentary remained focused on long-term growth and profitability. Jefferies also said artificial intelligence is being used across operations, and the company benefits from control over its value chain.

Morgan Stanley maintained its “Overweight” rating and increased the target price to Rs 576 from Rs 561, indicating an upside of around 15 per cent from the current level.

The brokerage said annual volume growth of 25 per cent remained the company’s target. It added that steady-state EBITDA margin guidance of 25 per cent was maintained. Morgan Stanley said smaller towns, including Tier-2 and lower markets, continued to perform well.

Goldman Sachs maintained its “Buy” rating and raised the target price to Rs 625 from Rs 600. The revised target implies an upside of around 24.8 per cent from the current market price.

Motilal Oswal Financial Services maintained its “Buy” rating with a target price of Rs 650, implying an upside of around 29.8 per cent from the current market price.

Motilal Oswal on Growth Outlook

Motilal Oswal said demand momentum remained strong across domestic and international markets. The brokerage said the company continued to benefit from operating leverage across stores, supply chain and technology.

The brokerage said FY27 priorities include AI-led transformation, customer acquisition, store expansion and investments in smart glasses and supply-chain integration.

According to Motilal Oswal, India's business growth was led by volumes, with eyewear units increasing 24.3 per cent year-on-year to 7.9 million units. Gold active members rose 29.5 per cent year-on-year to 8.8 million.

The brokerage said same-store sales growth stood at 24 per cent, while same-pincode growth was 31 per cent, supported by growth across metro, Tier-1 and Tier-2 markets.

It also said the international business continued to expand, with Japan reporting record revenue and same-store sales growth.

Motilal Oswal Stock Performance

Shares of Lenskart Solutions were trading at Rs 500.9 on May 21, 2026. The stock has gained 5.65 per cent in the last week. However, it has declined 7.37 per cent in the last month.

On a year-to-date basis, the stock has risen 14.29 per cent. The stock touched a 52-week high of Rs 557.65 on April 15, 2026, and a 52-week low of Rs 356.10 on November 10, 2025.

Lenskart Solutions is part of the NIFTY LargeMidcap 250 index and operates in the speciality retail industry. The company’s total market capitalisation stood at Rs 87,003.12 crore.