Lenskart Solutions hit all-time high on posting Q3; brokerages hike TP

Lenskart Solutions' share price spiked 12.2 per cent, clocking an all-time high at ₹523.4 on BSE. At 9:24 AM, Lenskart Solutions shares were trading 9.76 per cent higher at ₹511.85 per share. In comparison, the BSE Sensex was down 0.44 per cent at 83,865.51. 

 

The buying on the counter came after the company released strong Q3FY26 numbers on Tuesday, after market hours. 

 

In the December quarter, Lenskart Solutions posted a multi-fold jump in year-on-year (Y-o-Y) rise in net profit for Q3FY26 to ₹131 crore, compared to ₹1.85 crore in Q3FY25. Sequentially, the profit jumped 28 per cent from ₹102.2 crore in Q2FY26. 

 

Its revenue from operations stood at ₹2,307.73 crore, as compared to ₹1,669 crore in Q3FY25 and ₹2,096.1 crore in Q2FY26. Check detailed results here 

Brokerages’ view on Lenskart Solutions

Emkay Global Financial Services | Buy | Target hiked to ₹550 from ₹525

Emkay Global has maintained its ‘Buy’ rating on Lenskart and raised its target price, noting that the company’s "flywheel is accelerating" following an 8 per cent Earnings before interest, tax, depreciation and amortisation (Ebitda) beat in Q3. This robust performance was driven by a 40 per cent surge in India revenue and a 24 per cent constant-currency growth internationally, supported by free eye tests that boosted volumes by 30 per cent and loyalty programs that increased average ticket sizes by 7 per cent.  Despite aggressive expansion—adding 195 stores in Q3 alone—Lenskart saw its 9M Ebitda margins expand by 400 basis points (bps) due to operating leverage and faster store ramp-ups, with management targeting a long-term steady-state margin of 25 per cent through artificial intelligence (AI) integration. Furthermore, the brokerage highlighted Lenskart's strong financial health, as its store and capacity expansions are entirely funded by internal accruals, leaving a substantial ₹4,000 crore cash balance to fuel future growth. 

JM Financial Institutional Securities | Buy | Target raised to ₹565 from ₹535

JM Financial said Lenskart delivered a robust third-quarter performance with consolidated revenue surging 37 per cent, driven by a 40 per cent jump in its India business and a 33 per cent rise internationally. 

 

According to the brokerage, this growth was primarily volume-led, supported by a strong 28 per cent same-store sales growth (SSSG) in India as increased eye testing helped expand the market and acquire new customers.  Highlighting Lenskart's ability to scale brands globally through its AI-driven operating system—as seen with the integration of Meller—the brokerage raised its FY26–28E  Ebitda estimates by 6–10 per cent. 

 

Consequently, JM Financial maintained its ‘Buy’ rating and increased its target price, noting that the company continues to successfully balance aggressive store expansion with improving profitability.

Antique Stock Broking | Hold | Target hiked to ₹503 from ₹455

Antique said Lenskart Solutions delivered a strong third-quarter performance, with revenue growth across both domestic and international markets primarily driven by volumes. The brokerage raised its FY26E–28E pre-Ind AS Ebitda estimates by 4–9 per cent and hiked its target price on a strong growth outlook.

 

The brokerage believes operating leverage and continued investment in technology are expected to drive margin expansion. It raised FY26E/ 27E/ 28E pre Ind-AS Ebitda estimates by 9 per cent/6 per cent/4 per cent. 

 

Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers discretion is advised.