Lenskart bets on global growth, tech, and manufacturing, as it posts first earnings after IPO

Omnichannel eyewear retailer Lenskart on Saturday reported its first quarterly earnings since its tepid debut on the Indian stock exchanges earlier this month.

The company saw its topline surge 20% to Rs 2,096 crore, helped by volume growth and an increase in transacting customers.

Lenskart, which operates brands like John Jacobs and Owndays, saw its bottomline grow 20% to Rs 103.4 crore. It continued its expansion in Tier II markets, even as temporary GST-related uncertainty briefly delayed purchases in September.

YourStory breaks down the key insights from the eyewear retailer’s latest results, including its plans for smart glasses, growth in manufacturing capacity, and improved traction in international markets.

International operations turn profitable

Lenskart, which also operates in the Middle East, Singapore, and Japan, saw its international arm turn profitable, clocking Rs 31 crore compared with a loss of Rs 10 crore in the previous year. The segment represents a combined market value of $19 billion in 2025, projected to reach $24.7 billion by 2030.

Profitability was primarily driven by healthy product margins in the international market, which are higher than in India. During the first half, it increased by 88 bps YoY to 75.7%.

"This strong product margin, combined with maturing store cohorts and reducing capex per store, provides a solid foundation for continued improvement in profitability," stated the letter.

Singapore: Quick commerce and market leadership

In the shareholder letter filed with the exchanges, Lenskart outlined Singapore as an established market, with Lenskart as the market leader. It added 29 stores in the island country, taking its total count to 263.

It also launched a quick commerce delivery model in Southeast Asia, enabling customers in Singapore to order contact lenses with a two-hour delivery time. "Early results have been encouraging and have helped accelerate growth in our contact lens category," said the company.

Lenskart goes bullish on smart glasses with a full-stack AI bet

Lenskart is sharpening its push into wearables with the planned launch of its AI-enabled smart glasses—B by Lenskart Smart Glasses—in Q4 FY26, signalling a deeper bet on eyewear as a tech-led category. By building the hardware, software, and mobile app entirely in-house on the Gemini AI platform, the company is positioning smart glasses as a natural extension of its vertically integrated model.

The first version, powered by Qualcomm’s AR1 chip and compatible with prescription lenses, includes features like UPI payments, health tracking with food logging, photo and video capture, real-time object scanning and translations. Lenskart is also opening the device to external developers as it looks to expand use cases and grow the category beyond early adopters.

Eye-testing push drives new demand creation

Lenskart said its rapid expansion of accessible eye-testing has become central to growing the overall vision-care market rather than competing for existing users. Nearly half of all customers tested are undergoing their first-ever eye exam, discovering the need for vision correction because testing has become easier and more widely available.

The company conducted 13 million tests in FY25, up from 5 million two years earlier, and has already reached 9.3 million in H1 FY26.

With over 500 stores equipped for AI-enabled remote testing and new formats such as self-test kiosks and mobile tools, Lenskart is positioning eye-testing as a scalable engine for category creation and deeper adoption across Tier II and III markets.

Hyderabad facility to anchor future capacity and exports

The company is accelerating its manufacturing build-out, citing rising utilisation and the need to prepare for scale. While its eyeglasses facility operated at 47.9% utilisation in FY25, Lenskart said this had already climbed to 63.4% in the current quarter.

Its upcoming Hyderabad plant, expected to be ready in 18 to 24 months, is designed to have a 50 million-pair annual capacity, nearly double that of Bhiwadi, to support the company’s international operations.

The location has been planned as a strategic export hub, with proximity to a major airport enabling faster and more efficient international shipments.

Lenskart will install high-cost machinery in phases to match annual demand growth. Beyond prescription eyewear production, the facility will deepen backward integration across frames and lenses to improve margins, shorten lead times, and support faster product innovation.

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Edited by Suman Singh