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Goldman Sachs

May 21, 2026

Lenskart Solutions Ltd. 4QFY26 Results Update

Single Stock ReportEquitiesConsumer Discretionary

Lenskart delivered a significant beat in 4QFY26 with 45.6% revenue growth and margin expansion, supported by robust demand in India and profitable international scaling.

Key Takeaways

  • 1.Lenskart reported a 45.6% YoY growth in 4QFY26 consolidated revenue, significantly beating Goldman Sachs estimates.
  • 2.The India business showed strong compounding with 44.1% YoY revenue growth and 24.2% Same Store Sales Growth (SSSG).
  • 3.International operations have reached a profitable inflection point, with a pre-Ind AS 116 EBITDA margin of 9.2% in 4QFY26.

Table of Contents

  • Lenskart Solutions Ltd. (LENS.BO)
  • Key Data
  • GS Forecast
  • Ratios & Valuation
  • Growth & Margins (%)
  • Balance Sheet (Rs mn)
  • Cash Flow (Rs mn)
  • Lenskart Solutions Ltd. — Investment Thesis
  • Lenskart Solutions Ltd. — Price Target Risks and Methodology
  • Disclosure Appendix

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Authors

Arnab MitraAalokita AshSaurabh Kundan

Securities

LENS.BO

Themes

Vertical IntegrationRetail DensificationInternational Profitable Scale-up

Regions

Asia PacificMiddle EastIndiaJapanSingapore