HSBC initiates 'Hold' on Lenskart at Rs 513 despite 7,000-store expansion plan
HSBC flags full valuation with only ~2% upside on its Rs 513 target, even as India's largest eyewear retailer plans to nearly triple its footprint from ~2,500 to 7,000 stores. Lenskart holds ~20% organised-segment share in a market growing ~13% annually, with store payback under one year via its integrated model.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, citing full valuation despite strong growth prospects. India's largest eyewear player (~20% organised share) plans to expand from 2,500 to 7,000 stores, aided by its integrated model.