In a record-breaking performance that analysts are calling the start of a “compounding phase,” Lenskart Solutions shares surged as much as 13% today, February 12, 2026. The stock hit an all-time high of ₹526.35 on the BSE, marking a significant rally following the release of its Q3 FY26 earnings.
The Gurugram-based eyewear giant reported a massive 70-fold (6,981%) year-on-year jump in consolidated net profit, primarily driven by explosive growth in both its Indian and international markets.
Q3 FY26 Financial Highlights
The results underscore a massive shift in Lenskart’s unit economics, where revenue growth is now translating into significantly higher profit margins.
| Metric | Q3 FY26 | Q3 FY25 (YoY) | Change (%) |
| Revenue from Operations | ₹2,308 crore | ₹1,669 crore | +38% |
| Consolidated Net Profit | ₹131 crore | ₹1.85 crore | +6,981% |
| EBITDA | ₹462 crore | ₹212 crore | +119% |
| EBITDA Margin | 20.0% | 14.5% | +550 bps |
Key Growth Drivers
1. India vs. International Performance
Lenskart demonstrated strong momentum across all geographies, with the international segment slightly outperforming in terms of percentage growth.
- India Business: Revenue grew 40.4% YoY to ₹1,385 crore. Same-store sales growth (SSSG) was a robust 28%, proving that even as Lenskart adds more stores, its existing outlets continue to grow.+1
- International Business: Revenue jumped 33% YoY to ₹936 crore. Profitability in markets like Singapore, the UAE, and Japan is improving faster than expected, with international EBITDA margins reaching 18.8%.+1
2. Aggressive Store Expansion
The company added 195 net new stores during the quarter—a 141% increase compared to the 81 stores added in the same period last year.
- GeoIQ Integration: Lenskart utilized its newly acquired GeoIQ algorithm to select store sites, ensuring new locations expand the market rather than cannibalizing existing stores.
- Total Store Count: The company now operates over 3,100 stores globally.
3. Operational Efficiency
Founder Peyush Bansal attributed the profit surge to “structural operating leverage” rather than cost-cutting.
- Eye Tests: Conducted 6.3 million eye tests in Q3 (up 54% YoY), which serves as a massive top-of-funnel acquisition tool.
- Gold Membership: The active base reached 8.1 million members, with 37% of sales coming from repeat customers acquired before the quarter.
Brokerage Upgrades & Market Outlook
Following the results, several leading brokerages raised their target prices for the stock, though some remain cautious about its premium valuation (P/E of ~189x).
- Jefferies: Maintained a ‘Buy’ rating and raised its target to ₹575, citing a “massive beat” in operational performance.
- JM Financial: Reiterated ‘Buy’ with a revised target of ₹565, noting that Lenskart’s growth and profitability are now “compounding outcomes” of its AI-driven model.
- Citi: Maintained a ‘Neutral’ rating with a target of ₹520, suggesting that while the quarter was exceptional, the current share price already factors in much of the near-term upside.
“In Q2, we said we are entering a compounding phase. Q3 validates that decisively. This is not cost-cutting. This is operating leverage. The compounding has begun.” — Peyush Bansal, Founder & CEO.
