Lenskart vs Titan EyeCare: Rivals clash for India's $9.2 billion eyewear market
Post its below-issue-price NSE debut (Rs 390 vs Rs 402), Lenskart posted Q2 FY26 revenue of Rs 2,146.6 crore, up 24%, with 19.8% EBITDA margin and 69.2% product margin. It added 203 net new stores across 431 cities and ran 9.3 million eye tests in H1. Titan EyeCare runs 871 stores with Rs 215 crore income but thin Rs 12 crore EBIT.
Comparison of India eyewear rivals Lenskart and Titan EyeCare across strategy, store expansion, manufacturing cost advantage, margins and Q2 FY26 financials, following Lenskart's below-issue-price NSE listing. Both flagged pre-GST-cut purchase delays.