This Eyewear Retail Stock Rises 77% Since Listing: Profits Quadruple as Global Funds Buy In
- September 11, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
CMP approximately Rs 693.30 (10 Sep 2026). Return since Nov 2025 listing 76.84%. 52W range Rs 356.10 to Rs 703.50. Market cap approximately Rs 1,20,717 Cr.
Quick Answer
Lenskart Solutions is the eyewear retail stock up 76.84% since its November 2025 listing. The rally came from a roughly 269% jump in Q1 FY27 profit, steadily rising margins, fast store growth and MSCI inclusion in September 2026. The shares trade near Rs 693, close to a 52-week high, at about 181 to 185 times earnings, so valuation risk is high.
This eyewear retail stock has gained 76.84% since its stock market debut in November 2025, a rally that few expected after a shaky first day of trading. Among 101 large-cap and mid-cap NSE shares screened on 10 September 2026, it also ranks 8th on 1-month return with a gain of 17.81%.
The company is Lenskart Solutions Ltd (NSE: LENSKART), India’s largest omnichannel seller of prescription glasses, sunglasses and contact lenses. The Lenskart share price closed at approximately Rs 693.30 on 10 September 2026, giving it a market capitalisation of around Rs 1,20,717 crore. The IPO was priced at Rs 402 per share, so investors who got an allotment are sitting on a gain of about 72.5%.
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How Much Has This Eyewear Retail Stock Returned Since Listing?
This eyewear retail stock has returned 76.84% since listing, measured from its early trading levels in November 2025. Because the shares have traded for only about ten months, the 1-year, 3-year and 5-year figures in the screen are all effectively the same since-listing number.
Here is how this eyewear retail stock has performed across the periods available, with its rank in a screen of 101 NSE stocks:
| Period | Return (%) | Rank (out of 101) |
|---|---|---|
| 1 Month | 17.81% | 8 |
| 6 Months | 36.69% | 44 |
| Since Listing (10 Nov 2025) | 76.84% | Not ranked separately |
| Versus IPO price of Rs 402 | Approximately 72.5% | Not ranked |
Returns are simple price changes and are not annualised. The company has not announced any bonus issue or stock split since listing, so the 77% gain is genuine price appreciation.
The path for this eyewear retail stock was far from smooth. On debut day it opened at Rs 395 on NSE, below the issue price, and slid to around Rs 356.10 intraday, which is still its 52-week low. It then hit fresh highs in December 2025, dipped to around Rs 480 in mid-February 2026, and has since climbed to a 52-week high of approximately Rs 703.50.
Why Did This Eyewear Retail Stock Rise 77% Since Listing?
This eyewear retail stock rose 77% because profits grew much faster than the market expected, margins kept widening every quarter and global index funds began buying. Brokerages steadily raised their targets as each set of results came in. Each of the drivers below is visible in reported numbers.
1. Profits Nearly Quadrupled in Q1 FY27
For the June 2026 quarter, revenue from operations rose about 43% to approximately Rs 2,714 crore from Rs 1,894 crore a year earlier. Consolidated net profit jumped to around Rs 228 crore from Rs 61 crore, while profit attributable to shareholders was approximately Rs 222 crore, up about 269%. Growth at that pace is rare for an eyewear retail stock of this size.
EBITDA grew around 61% to approximately Rs 589 crore, and the margin expanded by roughly 370 basis points to about 21.7%. For an eyewear retail stock that was questioned on valuation at IPO time, a quarter like this changed the conversation. The shares jumped about 7% to a then record of around Rs 627 on 13 August 2026.
2. Margins Expanded Every Single Quarter
Operating margin has moved from about 13% in the December 2024 quarter to about 22% in the June 2026 quarter. The company makes most of its frames and lenses in its own automated plants, which lowers cost and gives it control over pricing.
Its Lenskart Gold membership programme also gives this eyewear retail stock a source of recurring income. Active Gold members stood at approximately 93.5 lakh at the end of Q1 FY27, and subscription fees rose about 57% to around Rs 66 crore. This steady margin climb is a key reason the eyewear retail stock earned a re-rating.
3. Store Expansion in India and Abroad
The company ended Q1 FY27 with approximately 3,459 stores, adding 132 net new outlets in the quarter. In India it added 116 stores, 83 of them in Tier 2 and smaller cities, and entered 50 new cities. Store expansion remains the core engine for the eyewear retail stock.
The international business, led by the Owndays chain in Japan, Southeast Asia and the Middle East, now runs 734 stores and contributed approximately Rs 1,203 crore of revenue in Q1 FY27. That is close to 44% of the total, which gives this eyewear retail stock a geographic spread most Indian retailers lack.
4. MSCI Inclusion and Fresh Brokerage Coverage
This eyewear retail stock was added to the MSCI index family effective 1 September 2026, which brought passive buying from global funds that track the benchmark. Ahead of that rejig, a foreign brokerage initiated coverage with a Buy rating and called the company a market leader in prescription eyewear with around 5% share, roughly double its nearest rival.
Market value crossed Rs 1 lakh crore for the first time on 10 August 2026, and the eyewear retail stock added another 17.81% in the month to 10 September. That late surge explains its 8th rank on 1-month return in the screen.
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Eyewear Retail Stock Financials: Growth With Rising Margins
The financials of this eyewear retail stock show fast revenue growth and a steady margin climb. Revenue rose from Rs 5,428 crore in FY24 to Rs 6,653 crore in FY25 and Rs 8,814 crore in FY26, a jump of about 32% in the latest year. Net profit moved from a small loss of Rs 10 crore in FY24 to Rs 297 crore in FY25 and Rs 501 crore in FY26.
The quarterly trend below shows the momentum clearly (figures in Rs crore, consolidated):
| Quarter | Revenue | Operating Profit | OPM | Net Profit |
|---|---|---|---|---|
| Jun 2025 | 1,894 | 336 | 18% | 61 |
| Sep 2025 | 2,096 | 413 | 20% | 103 |
| Dec 2025 | 2,308 | 462 | 20% | 133 |
| Mar 2026 | 2,516 | 536 | 21% | 204 |
| Jun 2026 | 2,714 | 588 | 22% | 228 |
Revenue at this eyewear retail stock has grown for five straight quarters. One blip was Q4 FY26, when profit of Rs 204 crore was about 7% lower than the Rs 220 crore reported a year earlier. The stock still rose after those results because operating profit kept improving.
Free cash flow was approximately Rs 846 crore in FY26, which means the business now funds a large part of its store expansion internally. Borrowings stood at around Rs 3,097 crore at March 2026, roughly 0.35 times book equity. Positive free cash flow sets this eyewear retail stock apart from many new-age listings.
Is This Eyewear Retail Stock Expensive on Valuation?
Yes, this eyewear retail stock trades at a steep premium to the market and to retail peers. At around Rs 693, it is valued at approximately 181 to 185 times trailing earnings and about 13.8 times book value.
| Metric | Value (approximately) |
|---|---|
| Closing price (10 Sep 2026) | Rs 693.30 |
| Market capitalisation | Rs 1,20,717 crore |
| 52-week high / low | Rs 703.50 / Rs 356.10 |
| Price to earnings (TTM) | 181x to 185x |
| Price to book | 13.8x |
| Return on equity (FY26) | Around 6% |
| Borrowings (Mar 2026) | Rs 3,097 crore |
Return on equity of about 6% is low for such a high multiple. Investors are paying for future growth: more stores, higher margins and a larger international business. Any slowdown could hit this eyewear retail stock harder than a stock on a modest valuation.
Who Owns This Eyewear Retail Stock?
As of June 2026, promoters, led by founder Peyush Bansal and family, held approximately 17.53% of this eyewear retail stock. Foreign institutions held around 12.76%, domestic institutions around 23.56%, and the public category, which includes several private equity investors, about 45.73%.
There has been heavy churn among early backers. In mid-2026 a Temasek-backed entity sold about 2.05% and SoftBank sold around 3.25%, while several global banks and funds together picked up about 2.3%. Promoter shares were locked in after the IPO.
Domestic mutual funds and insurers have been steady buyers of this eyewear retail stock since listing. A low promoter stake is a point to watch in this eyewear retail stock, because further selling by pre-IPO investors can add supply to the market.
Key Risks for This Eyewear Retail Stock
The rally has priced in a lot of good news, and the risks are real. Investors in this eyewear retail stock should weigh the following:
Valuation risk: A PE above 180 leaves little room for error. Even a slight miss on growth or margins could trigger a sharp fall in the Lenskart share price, as seen in the February 2026 dip to around Rs 480.
Supply overhang: Pre-IPO investors still hold large stakes. Block deals by these shareholders can weigh on the eyewear retail stock for days at a time.
China sourcing and currency: A part of frames and materials is sourced from China, and the company recently set up a sourcing arm there. Yuan and rupee moves can squeeze margins.
Competition and execution: Opening over 100 stores a quarter needs capital and strong local demand. Titan Eye+ and a large unorganised optical sector remain rivals, and overseas markets add operating risk.
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Lenskart Share: Analyst View
Most analysts are positive on the business behind this eyewear retail stock but split on the price. After Q1 FY27, several foreign brokerages raised targets into the Rs 650 to Rs 715 range, with one keeping a Hold call at Rs 575 and warning that the stock already prices in much of the upside.
The bulls point to a long runway. India sells roughly 25 million eyewear units a year through organised retail against a need of over 700 million, and a foreign brokerage sees scope for the store count to grow toward 10,000 over the long term. Bears focus on the PE multiple and low return on equity.
Lenskart Share Price Target
The highest verified Lenskart share price target is Rs 888, set by a foreign brokerage in late August 2026, about 28% above the 10 September close. A domestic brokerage has a Lenskart share price target of Rs 800, about 15% higher than current levels.
Several other targets, between Rs 575 and Rs 715, are now close to or below the Lenskart share price of Rs 693.30. That means this eyewear retail stock has already run past many estimates, and upgrades will depend on Q2 FY27 numbers. Every such target is an estimate, not a promise.
On charts, the Lenskart share price is trading just below its 52-week high of Rs 703.50. Traders see the Rs 600 to Rs 590 zone as support, and a close above the high could open the next leg for this eyewear retail stock.
Conclusion
This eyewear retail stock has turned a muted November 2025 debut into a 76.84% gain since listing, backed by nearly four times higher quarterly profit, widening margins, fast store growth and MSCI inclusion. The Lenskart share price now sits close to its record high of about Rs 703.50.
The business case is strong, but the valuation is demanding and pre-IPO investors are still selling. Investors considering this eyewear retail stock may prefer staggered buying, tracking the Q2 FY27 results and store additions, and consulting a SEBI-registered advisor before acting on any price target.
Disclaimer: Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Which eyewear retail stock has risen 77% since listing?
Ans. Lenskart Solutions (NSE: LENSKART) is the eyewear retail stock that has gained 76.84% since its November 2025 listing, as of 10 September 2026. It also ranks 8th out of 101 screened NSE stocks on 1-month return.
What was the Lenskart IPO price?
Ans. The Lenskart IPO was priced at Rs 402 per share and listed on 10 November 2025. The shares opened at Rs 395 on NSE and closed the first day near Rs 403.
Why is Lenskart share price rising?
Ans. The Lenskart share price is rising on strong Q1 FY27 results, when profit rose about 269% and revenue about 43%. Rising margins, store expansion and MSCI index inclusion from 1 September 2026 added momentum.
What is the Lenskart share price target?
Ans. The highest verified Lenskart share price target is Rs 888 from a foreign brokerage, and a domestic brokerage has a target of Rs 800. Several other targets between Rs 575 and Rs 715 are close to the current price.
What is the 52-week high and low of Lenskart?
Ans. This eyewear retail stock has a 52-week high of approximately Rs 703.50 and a low of around Rs 356.10, touched on its debut day in November 2025. The stock closed near Rs 693.30 on 10 September 2026.
Is Lenskart stock overvalued?
Ans. Lenskart trades at around 181 to 185 times trailing earnings and about 13.8 times book value, which is expensive by most measures. Its return on equity is only about 6%, so the price assumes strong growth for years.
How many stores does Lenskart have?
Ans. Lenskart had approximately 3,459 stores at the end of June 2026, including 734 outside India. It added 132 net stores in Q1 FY27 and entered 50 new Indian cities.
Should I invest in this eyewear retail stock after a 77% rally?
Ans. The business is growing fast, but much of the good news is already in the price and early investors are still selling shares. Staggered buying, a clear stop loss and advice from a SEBI-registered advisor are sensible.
