LENSKART: Receives ₹13.17 Cr Customs Duty Demand Order

LENSKART: Receives ₹13.17 Cr Customs Duty Demand Order

- Lenskart has received a ₹13.17 crore customs demand order, comprising ₹6.59 crore in customs duty and ₹6.58 crore penalty, excluding unquantified interest. - The Order-in-Original dated September 18, 2026 was received by the company on October 15, 2026. - The dispute relates to the classification of imported optical eyeframes with clip-on — Lenskart classified them under HSN 9003, while customs authorities classified them under HSN 9004. - Lenskart considers the order contestable and plans to challenge it before the appropriate appellate authority. - The company expects a favourable outcome and states that the matter has no material impact on operations. - The liability had already been disclosed as a contingent liability in the FY26 audited financial statements. Impact: Negative — The ₹13.17 crore quantified demand creates a potential financial liability, with interest yet to be quantified. However, the impact is partly mitigated by its prior disclosure as a contingent liability and the company's intention to appeal. The eventual appellate outcome remains the key factor.