Lenskart shares gain up to 5% after Q2 results; Jefferies maintains ₹500 price target

Shares of Lenskart Solutions Ltd. gained over 5% on Monday, December 1, after the company reported its second quarter earnings over the weekend and indicated a stronger performance in the upcoming quarter.

Q2 Performance

The eyewear manufacturer's net profit increased by 19.7% at ₹102.2 crore compared to ₹85.4 crore last year. It also increased by 70.3% from ₹60 crore in the previous quarter.

Its exceptional loss was nil compared to ₹10.4 crore in the first quarter this fiscal.

Lenskart's revenue increased 20.8% to ₹2,096 crore from ₹1,735.6 crore in the second quarter last year. The same was up 10.6% sequentially from ₹1,894.4 crore.

Its earnings before interest tax, depreciation and amortisation (EBITDA) increased 44.5% to ₹414.2 crore from ₹287 crore in the same period last year and it was up 23.3% sequentially from ₹336 crore.

The company's margin expanded to 19.76% from the year-ago period and from 18% in the previous quarter.

Outlook

The company said in the first half of the financial year 2026, the consolidated EBITDA increased 54.9% from the previous year.

It is now targeting over 450 net store additions in India in the entire fiscal compared to 282 in FY25. It added that its overall performance metrics through the end of November indicate a stronger growth trajectory across both revenue and EBITDA for the third quarter of FY26.

Jefferies sees 21% upside 

Last week, brokerage firm Jefferies initiated coverage on the stock with a "buy" rating and a price target of ₹500 per share.

On Monday, Jefferies said the second quarter marked the onset of the company's compounding phase as tech and supply chain unlock operating leverage. AI now touches all aspects of the organisation, with a smart eyewear launch imminent, it said.

Jefferies said massive store potential in India and calibrated global expansion reinforce that it is still day zero for the company. The management remains focused on 'thinking in decades' and aims to earn investor trust through consistent execution and transparency, it added.

Lenskart shares were listed on the stock exchanges on November 10, 2025

, at a 3% discount at ₹395 apiece compared to their issue price of ₹403 per share.

The stock gained 5.4% to hit an intraday high of ₹432.5 apiece on Monday. The stock was trading 3.8% up at ₹426 apiece around 10 am. .

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