Lenskart Q4FY26 Concall: AI-Led Growth & Premiumization Drive Momentum

Key Financial Highlights • Q4 Revenue: ₹2,516 Cr (↑41% YoY) • FY26 Revenue: Crossed ₹9,000 Cr • EBITDA: ₹536 Cr (↑61% YoY) • EBITDA Margin: 21.3% • FY26 PAT: ₹530 Cr • Net Cash Balance: ₹3,881 Cr • ROCE: Improved to 23% Growth Drivers • Strong traction in Tier 2 and smaller towns • International business emerging as a key growth engine • Smart eyewear brand “B by Lenskart” gaining traction • 30,000+ users already on smart-glass waitlist • AI-led eye testing and demand prediction initiatives scaling up • Hyderabad manufacturing expansion improving localization Outlook • Aggressive growth focus to continue in FY27 • Store additions expected near FY26 levels • Long-term EBITDA margin guidance maintained near 25% • International markets expected to scale rapidly • Long-term target: 100 million global customers Key Risks • Rupee depreciation impacting import costs • Currency volatility and geopolitical tensions • Competition for AI talent • Supply-chain inflation pressures Key Takeaway Lenskart is entering a profitability-led growth phase supported by AI adoption, premiumization, omnichannel expansion, and international scaling. $LENSKART