Peyush Bansal’s Lenskart hits all-time high as Q3 earnings spark rally; share jumps 13%
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Shares of Lenskart Solutions surged nearly 13% on Thursday, in an otherwise weak broader market, recording their largest intraday gain, as investors reacted positively to the company’s strong December-quarter performance.
The Peyush Bansal-led eyewear retailer reported a consolidated net profit of ₹131 crore in Q3 FY26, marking a 28.4% sequential rise from ₹102 crore in Q2 FY26. On a year-on-year basis, profit witnessed an extraordinary jump of 6,981% compared to ₹1.85 crore in Q3 FY25.
Following the strong earnings, Lenskart shares rallied as much as 12.86%, hitting a fresh all-time high of ₹526.35 on the BSE, which pushed the company’s market capitalisation to around ₹87,530 crore.
Since its stock market debut on November 10, 2025, the stock has gained nearly 31% over its IPO price of ₹402 per share. However, it had touched a low of ₹355.70 on the day of listing.
On a year-to-date (YTD) basis, the newly listed large-cap stock has risen around 15%, while it has gained nearly 11% in the past one month.
Strong Q3 boosted rally
For the October–December quarter of FY26, the company reported revenue from operations of ₹2,307 crore, registering a 10.1% sequential increase compared with ₹2,096 crore in Q2 FY26. On a year-on-year basis, revenue grew 38% from ₹1,668 crore in the same quarter last year.
The revenue expansion was largely supported by higher sales volumes and strong customer acquisition. The India business recorded a 40.4% YoY growth, while the international segment posted a 32.7% YoY increase, according to the company’s exchange filing.
On the operating front, EBITDA rose 11.8% quarter-on-quarter to ₹463.1 crore, compared with ₹414.2 crore in the previous quarter. The company also witnessed a 31 basis point improvement in EBITDA margin, which stood at 20.1% in Q3 FY26, up from 19.8% in Q2 FY26.
During the quarter under review, Lenskart added 195 net new stores during the quarter (169 in India and 26 internationally), bringing its total 9-month additions for FY26 to 420 stores.
As per the company, Lenskart’s expansion in the Indian market continues to outpace the industry, delivering a 28% same-store sales growth (SSSG) and 36% same-pincode sales growth (SPSG) in Q3 FY26. The 800-basis-point premium in pincode growth proves that the brand is densifying its store network without cannibalising existing sales.
Furthermore, the company is actively expanding the total addressable market (TAM) rather than just fighting for market share. Of the 6.3 million eye tests performed this quarter—a 54% increase YoY—nearly 49% were first-time exams, bringing millions of new consumers into the vision correction category.
Emkay Global retains Buy call
Following the Q3 results, Emkay Global maintained its ‘Buy’ recommendation on Lenskart and revised its target price upward to ₹550 from ₹525, highlighting that strong exponential revenue growth is driving robust operating leverage.
The brokerage in its report said that the company’s growth momentum continues to strengthen, supported by multiple operating levers. Free eye tests are boosting customer footfall and volume growth, which rose nearly 30% YoY in Q3, while customer loyalty and premiumisation led to a 7% increase in average transaction size (ATS).
The company has funded its store expansion and ongoing HBD (high-base distribution) capacity expansion through internal accruals, while maintaining a strong balance sheet with around ₹4,000 crore in cash, providing additional flexibility for future growth opportunities, Emkay said in its report.
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