Lenskart outpaces Titan EyeCare on margins and growth in India's $9.2B eyewear race
Post-IPO Lenskart posted Q2 revenue of Rs 2,146.6 crore (up 24%), a 69.2% product margin and 19.8% EBITDA margin, adding 203 net new stores across 431 cities. Titan EyeCare drew higher footfall but saw profit slip, with segment EBIT at just Rs 12 crore on Rs 215 crore income.
Comparison of Lenskart and Titan EyeCare strategies and financials in India's ~$9.2 billion eyewear market. Lenskart posted 24% revenue growth and stronger margins post-IPO, while Titan EyeCare saw profit decline despite higher footfall; both noted GST-driven demand shifts.
Why this matters
Follows HSBC's 'Hold' rating on Lenskart with a Rs 513 target and ~2% upside despite a 7,000-store runway, sharpening the Lenskart vs Titan eyewear duel over India's Rs 30,000 crore market.
Retail-company signals are accelerating, up 876900% QoQ.