IPO-Bound Lenskart Turns the Lens on Profitability, Q1 Profit in FY26 Hits ₹61 Cr as Margins Improve

IPO-bound Lenskart has maintained profitability in the first quarter of financial year 2025-26. The eyewear giant posted a net profit of ₹61.2 crore in Q1 FY26, moving away from a loss of ₹11 crore incurred in the same quarter previous year. The company attributed the profits to an uptick in its top line and improvement in margins.

Its operating revenue stood at ₹1,894.5 crore. This marked nearly 25% jump from ₹1,520.4 crore revenue recorded in the same quarter last fiscal year. The company’s sales of goods grew 27% (year-on-year) to ₹1,822.2 crore, while its revenue from sales of services increased 98% to ₹67.4 crore.

Including other income of ₹51.6 crore, Lenskart’s total revenue rose 24.5% to ₹1,946.1 crore in the same quarter. In FY25, the company reported a net profit of ₹297.3 crore, reversing a loss of ₹10.2 crore in the previous year. However, the company attributed the FY25 profit numbers to the one-time gain from the acquisition of Owndays Inc.

“The reported FY25 profit is significantly and artificially inflated. For valuation, the PAT margin must be normalized by excluding this one time gain, bringing it closer to a break-even or marginal profitability level, which is more representative of the core business’ underlying performance,” the company said in its RHP.

Lenskart’s operating revenue for FY25 rose 23% to ₹6,652.5 crore, up from ₹5,427.7 crore in FY24.

Lenskart IPO

The eyewear platform has filed its red herring prospectus (RHP) and set a price band of ₹382–₹402 for an initial public offering (IPO) that will open to the public on October 31 (anchor bids October 30) and close on November 4.

The offering values the eyewear retailer at roughly ₹72,719 crore and is structured to raise about ₹7,278 crore in total, comprising a ₹2,150 crore fresh issue and an offer for sale (OFS) of 127.5 million shares by promoters and investors.

Its latest GMP is ₹108, as per investorgain.com. With the upper price band of ₹402.00, the IPO's estimated listing price is ₹510 as per the website with expected percentage gain per share to be approximately 27%.

The company has trimmed the OFS slightly from earlier plans after promoter Neha Bansal reduced her sale. Other selling shareholders continuing with the OFS include founders Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, and marquee backers such as SoftBank, Temasek, Kedaara, Premji Invest and Alpha Wave Ventures.

Schroders Capital will fully exit through the OFS. The company plans to disclose final share allotments by November 6 and aims for a market debut around November 10 on the BSE and NSE.