Lenskart Solutions Ltd (MAINBOARD)

Lenskart Solutions IPO Details

Key Performance Indicator (KPI)

Financial Details In Crores

Company Overview 

Business Overview: Technology-driven eyewear company engaged in design, manufacturing, branding, and retail of prescription eyeglasses, sunglasses, contact lenses, and accessories.

Business Model: Direct-to-consumer (D2C) approach through online platforms and an expanding network of offline stores.

Market Position: According to the Redseer Report, Lenskart sold the highest volume of prescription eyeglasses in India during FY 2025.

Product Range: 105 new collections launched in FY 2025, including collaborations with major brands and personalities.

Store Network (as of March 31, 2025):

Total Stores: 2,723 (2,067 in India, 656 overseas)

Owned Stores in India: 1,757

Franchised Stores in India: 310

Remote Eye Testing: 168 stores with 136 optometrists in India, Japan, and Thailand.

Manufacturing & Supply Chain:

Centralized manufacturing units at Bhiwadi and Gurugram.

Regional facilities in Singapore and UAE.

Next-day delivery in 40 Indian cities, 3-day delivery in 69 cities for single-vision eyewear.

Strength

Integrated Supply Chain and Manufacturing Efficiency: Centralized production in Bhiwadi and Gurugram, supported by overseas facilities, ensures better cost control, faster turnaround, and scalable operations.

In-House Frame and Lens Engineering: End-to-end product control—from design to delivery—enables superior quality assurance and faster innovation cycles.

Strong D2C Business Model with Omnichannel Reach: Combination of online presence and large retail footprint (2,700+ stores globally) provides accessibility, brand visibility, and customer trust across markets.

Weakness

Dependence on Raw Materials and Imports from China: Raw materials form a major expense (₹16,229.74 million or 24.52% of total expenses in FY 2025). Any disruption or cost fluctuation—especially in imports from China via its joint venture Baofeng Framekart Technology Ltd.—can impact profitability.

Operational Risk at Manufacturing Facilities: Breakdowns, shutdowns, or slowdowns at key plants (Bhiwadi, Gurugram) can disrupt supply, affecting sales and financial performance.

High Cost and Dependency on Retail Expansion: Significant capital and lease costs associated with CoCo store growth increase fixed expenses and expose the company to real estate and operational risks.