Lenskart's 7,000-store India network plan resurfaces alongside HSBC's April Hold call
Resurfacing an April 2026 move, HSBC initiated coverage on Lenskart with a Hold rating and Rs 513 target, citing limited near-term valuation upside despite strong store economics. The eyewear retailer has about 2,500 India stores and sees scope to expand its network to roughly 7,000.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong unit economics, 20% organised-market share and a potential expansion from about 2,500 to 7,000 India stores.
Why this matters
The signal follows November reporting that Lenskart widened its eyewear lead with 203 new stores and a 19.8% EBITDA margin, plus H1 FY26 reporting on 203 India additions as Titan EyeCare reached 871 stores.
Store-opening is steady, with 1,366 signals in the past 90 days; no QoQ comparison figure is provided.