03 Jun , 2026 By : Debdeep Gupta
Shares of Lenskart Solutions fell over 1 percent on Wednesday after a large block deal involving 5.65 crore shares worth about Rs 2,873 crore was executed in the stock. According to exchange data, 5.65 crore shares changed hands at Rs 508.50 apiece in the block deal window. The transaction represented about 3.25 percent of Lenskart's equity. The identities of the buyers and sellers were not immediately known.
Lenskart shares fell to Rs 518 in the morning trade, down 1.2 percent on the day. The stock is still up more than 28 percent from its November 2025-IPO issue price. The eyewear company has a market capitalisation of over Rs 91,000 crore.
The block deal comes at a time when brokerages remain constructive on the eyewear retailer's growth prospects. On Tuesday, CLSA initiated coverage on Lenskart with an 'outperform' rating and a target price of Rs 604 per share, implying potential upside of about 17 percent from Tuesday's closing levels.
CLSA said Lenskart has built a leading eyewear franchise with a strong presence across urban and mass-market segments. The brokerage expects store expansion to drive profitability through operating leverage, while product margins and improving international operations could support earnings growth.
Separately, Bank of America Securities has also initiated coverage on the stock with a 'buy' rating and a price objective of Rs 575 per share. The brokerage cited Lenskart's expansion in the underpenetrated eyewear market in India and select international geographies, along with its technology-enabled and integrated operating model.
According to BofA, strong execution, improving customer metrics and healthy unit economics position the company for sustained growth. The brokerage expects revenue, EBITDA and earnings to grow at a compound annual rate of 23 percent, 39 percent and 46 percent, respectively, between FY26 and FY28.
Lenskart reported a mixed set of March quarter earnings last month. Revenue rose 45.6 percent year-on-year to Rs 2,515.7 crore, while EBITDA jumped 84 percent to Rs 538.4 crore and margins improved to 21.4 percent. However, net profit declined 8.6 percent year-on-year to Rs 200 crore.
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