Lenskart Solutions Announces Joint Venture and Subsidiary Amalgamation

Lenskart Solutions Ltd, the Indian omnichannel eyewear retailer, approved the incorporation of a Joint Venture Company in India with Mingfeng Glassesworld Limited of China. The venture will focus on manufacturing metal spectacle frames domestically, a move intended to strengthen Lenskart’s manufacturing capabilities, improve supply‑chain efficiency and reduce dependence on imported metal frames, thereby supporting its broader localisation strategy.

The board also approved a Scheme of Amalgamation under Sections 230 to 232 of the Companies Act, 2013, whereby its wholly‑owned subsidiaries Dealskart Online Services Private Limited and Lenskart Eyetech Private Limited will be merged into the parent company, subject to statutory and regulatory clearances.

Following the announcements, Lenskart’s shares rose as much as 3.4% during the trading day, reaching a high of Rs 549.30 per share compared with the previous close of Rs 531.10. The company’s market capitalisation was reported at approximately Rs 94,829.82 crore.

Financial Performance Highlights

  • Revenue from operations grew 45.6% year‑on‑year, increasing from Rs 1,728 crore in Q4 FY25 to Rs 2,516 crore in Q4 FY26, and rose 9.0% quarter‑on‑quarter from Rs 2,308 crore in Q3 FY26.
  • Net profit fell 7.3% YoY, declining from Rs 220 crore in Q4 FY25 to Rs 204 crore in Q4 FY26, but rose 53.4% QoQ, up from Rs 133 crore in Q3 FY26.
  • Return on capital employed (ROCE) stood at 8.44% and return on equity (ROE) at 6.86%, indicating moderate capital efficiency.
  • The debt‑to‑equity ratio was 0.35, reflecting a conservative leverage profile.
  • Over the past five years, the company delivered a compound annual growth rate (CAGR) of 77.0% in profit, underscoring rapid expansion.

Strategic Outlook

Management described FY26 as a defining year and signalled that the “best is yet to come,” emphasizing a shift toward becoming a consumer‑AI company. AI is being embedded across eye testing, product design, manufacturing automation, store operations, delivery systems and customer‑experience tools. The firm is also investing in smart‑glasses under the “B by Lenskart” brand.

For FY27, the company targets roughly 25% annual volume growth, expects store additions to be broadly in line with FY26, and plans to pursue global expansion through partnerships, collaborations and selective M&A. The joint venture with Mingfeng is positioned to enhance margins, expand manufacturing capacity in India and reinforce Lenskart’s omnichannel growth with a more self‑reliant production ecosystem.

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