Resurfacing HSBC's call: Lenskart seen scaling from 2,500 to 7,000 India stores, initiated at Hold
Resurfacing an early-April 2026 note in which HSBC initiated coverage of Lenskart with a Rs 513 target and Hold rating, saying valuation already captures much of the growth opportunity. The broker expected the eyewear retailer's supply chain and sub-one-year store payback to support a long-term expansion to about 7,000 Indian outlets.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing fully reflected valuation. It sees the eyewear retailer scaling from about 2,500 to 7,000 Indian stores, supported by integrated supply chain, strong unit economics and a growing organised eyewear market.
Why this matters
The resurfaced April Hold call aligns with recent Lenskart signals highlighting HSBC's 7,000-store India runway, 2,500-store base and view that valuation already captures much of the growth opportunity.
Store-opening is steady, with 1,737 signals in the past 90 days; no QoQ change was provided.