Lenskart Solutions rises as Q1 adjusted PAT soars 240% YoY
EBITDA increased 61.3% YoY and 9.9% QoQ to Rs 589 crore in Q1 FY27. EBITDA margin stood at 21.7% compared with 18% in Q1 FY26 and 21.3% in Q4 FY26. EBITDA before Ind AS 116 increased 95.1% YoY and 12.1% QoQ to Rs 361 crore, with margin expanding to 13.3% from 9.1% in Q1 FY26 and 12.8% in Q4 FY26.
Profit before tax increased 200.45% YoY and 17.86% QoQ to Rs 299.61 crore in Q1 FY27.
Total expenditure increased 35.35% YoY and 7.31% QoQ to Rs 2,430.33 crore. Raw material consumed increased 23.20% YoY to Rs 631.18 crore. Employee expenses increased 28.73% YoY to Rs 599.36 crore. Interest expense increased 29.61% YoY to Rs 53.19 crore. Depreciation increased 28.47% YoY to Rs 304.63 crore. Tax expense increased 77.88% YoY to Rs 88.55 crore.
Product margin increased to 70.3% in Q1 FY27 from 68.7% in Q1 FY26 and 69.6% in Q4 FY26. The company conducted 71.2 lakh eye tests in Q1 FY27, up 39.8% YoY, while eyewear units sold increased 25.7% YoY to 105.3 lakh. Quarterly transactional customer accounts increased 20.4% YoY to 56.4 lakh.
The company added 132 net new stores during Q1 FY27, taking total active stores to 3,459. India added 116 net new stores, including 83 in Tier 2+ cities, and entered 50 new cities. International operations added 16 stores.
India revenue increased 30.7% YoY, while international revenue grew 38% YoY in Q1 FY27. India delivered 18.3% same-store sales growth (SSSG), while same pin code sales growth (SPSG) stood at 24.3%.
Lenskart Gold active members reached 93.5 lakh, while subscription fees increased 57.4% YoY to Rs 66 crore. India average selling price increased 6.4% YoY to Rs 1,856.
Operating cash flow stood at Rs 297 crore in Q1 FY27, exceeding capex of around Rs 207 crore and leaving net cash flow of Rs 116 crore before M&A and equity. ROCE improved to 23.2% from 14.6% in FY26.
Lenskart founder and CEO Peyush Bansal said the company is focused on building the eyewear market rather than simply competing for existing demand, with around 94 crore Indians expected to need eyeglasses. He said the company has built capabilities across technology, manufacturing, supply chain, optometry, brands and data over the past decade to serve customers across income groups and geographies.
He also pointed to faster-than-expected customer premiumisation, while noting the company's success in offering profitable Rs 500 eyewear.
Looking ahead, Bansal said Lenskart is expanding beyond traditional eyewear through self-eye testing and smart glasses. He said the company's long-term ambition is to build the infrastructure of vision, combining eyewear, eye care, AI and data to improve access to vision care.
Lenskart Solutions is engaged into designing, manufacturing, branding, and retailing of own-branded eyewear products. The company sells prescription eyeglasses, sunglasses, and other products including contact lenses and eyewear accessories.
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