India’s leading omnichannel eyewear retailer, Lenskart, has posted its first net profit in fiscal year 2025, signaling a major milestone ahead of its IPO launch. According to the company’s Draft Red Herring Prospectus (DRHP), Lenskart reported a net profit of ₹297 crore in FY25, reversing the ₹10 crore loss recorded in FY24—an impressive financial turnaround.
Financial Snapshot
- Revenue: ₹6,652–6,653 crore, up ~22–23% YoY from ₹5,428 crore in FY24
- Profit: ₹297 crore net profit in FY25 vs. ₹ 10 crore loss in FY24
- Expenses: Total operating costs rose 19% to ₹6,619 crore, while employee benefits, marketing, materials, and depreciation saw varied increases
Entrackr notes Lenskart posted EBITDA margins of around 2.27% and a return on capital employed (ROCE) of 6.17% in FY25. The company earned nearly ₹0.99 to generate each rupee of operating revenue—a testament to disciplined cost control.
Growth Drivers & Business Trends
Lenskart’s limited but steady topline growth—22–23% in FY25 compared to 43% in FY24—is tempered by improving margins and cash flow dynamics. As Angel One reports, the company earned approximately $755 million (₹6,415 crore) in FY25 revenue, holding over $200 million in cash reserves.
- Domestic vs. International: India contributed ~$455 million (₹3,865 crore); international markets added ~$300 million (₹2,550 crore), showing scope for growth beyond domestic operations.
In the FY25 cycle, Lenskart also expanded its store count to over 2,700 locations globally and raised its annual transacting customer base to 99 lakh, with eyewear units sold reaching 2 crore.
IPO-Linked Expansion & Strategic Positioning
Lenskart filed its DRHP in July 2025 to raise ₹2,150 crore via fresh issue and an OFS by existing shareholders—including SoftBank, Temasek, Alpha Wave, and promoters. The IPO is expected to target an ₹8,000–10,800 crore valuation.
Allocation of IPO proceeds:
- ₹272–273 crore for new CoCo stores
- ₹591 crore for lease/rental expenses
- ₹213 crore for technology/cloud investment
- ₹320 crore for marketing and infrastructure development
What It Means: Outlook and Market Context
Lenskart’s profitability in FY25 signifies its maturity as a scaled enterprise ready for public investment. While revenue growth has moderated, the net profit, margin improvement, and substantial cash reserves—over ₹1,700 crore—serve as key validation points.Moneycontrol
This achievement positions Lenskart favorably in anticipation of its IPO, paving the way for international expansion (like its Owndays acquisition) and broader market share gains in India.
Final Thoughts
With a net profit of ₹297 crore and ₹6,652 crore revenue in FY25, Lenskart’s shift to profitability marks a pivotal moment in its corporate story. Optimized cost structure, improving margins, and strong cash reserves provide a sturdy foundation ahead of the company’s planned IPO. Lenskart is now poised to capitalize on growth opportunities both locally and internationally, convincing institutional investors of its long-term potential.
