Lenskart vs Titan EyeCare: post-IPO showdown in India's Rs 30,000 crore eyewear market
Lenskart trades below its Rs 402 issue price (listed Rs 390, down 2.23% in a month) as it battles Titan EyeCare across store reach and margins. Lenskart posted Q2 FY26 revenue of Rs 2,146.6 crore (up 24%), EBITDA of Rs 425.8 crore and 69.2% product margin; Titan runs 871 EyeCare stores while Lenskart added 203 net new stores across 431 cities.
Comparison of India eyewear leaders Lenskart and Titan EyeCare post-Lenskart IPO, covering share performance, market size, store reach, strategy and cost structure across Q2 FY26 metrics.
Why this matters
Extends Lenskart's post-listing narrative against Titan EyeCare across the 7 factors deciding India's eyewear leader, as HSBC initiated coverage at 'Hold' with a Rs 513 target despite the 7,000-store expansion plan.
Retail-company signals accelerating, up 486800% QoQ.