Lenskart vs Titan EyeCare: Automation-led scale takes on service model in India's Rs 30,000cr eyewear race
Post-IPO Lenskart posted Q2 revenue of Rs 2,146.6cr, up 24%, with a 19.8% EBITDA margin and 69% product margins, backed by 9.3M eye tests in H1 FY26 and 203 net new stores across 431 cities. Titan EyeCare, with 871 stores, saw profit slide (EBIT just Rs 12cr on Rs 215cr income) despite higher footfall. Both flag GST-linked demand shifts.
Post-IPO comparison of India's eyewear leaders: Lenskart's automation-led scale and 69% product margins versus Titan EyeCare's service model, which saw profit decline despite higher footfall. Both cite GST-linked demand shifts.