HSBC sees limited upside in Lenskart even as it targets 7,000 India stores
HSBC initiated coverage on Lenskart with a Hold and a Rs 513 target price, implying about 2% upside. The broker cites valuation constraints despite Lenskart’s plan to expand its India network from roughly 2,500 stores to 7,000, supported by sub-one-year store payback.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside. It expects growth from India’s organised eyewear shift, integrated supply chain and expansion from roughly 2,500 to 7,000 stores, supported by sub-one-year store payback.
Why this matters
HSBC's Hold call follows prior signals on Lenskart's 7,000-store India expansion and its July plan to file Sebi draft papers for a ₹2,150 crore fresh-capital IPO.
Store-opening is steady, with 1,686 signals recorded in the past 90 days.