Lenskart Solutions Ltd Q1 FY27 Results Analysis: PAT Surges 269%, International Turns Profitable

Lenskart Solutions Ltd's Q1 FY27 numbers came in strong, with revenue of Rs. 2,714.18 Cr (+43.27% YoY) and PAT growth of +273.43% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

Revenue grew 43% YoY (33.6% like-for-like) to Rs.2,714 Cr, EBITDA margin expanded 448 bps to 21.7%, and PAT attributable to owners rose 269% YoY. International segment turned profitable, now contributing 44% of revenue. The compounding phase is evident, though forex headwinds and rising costs are monitored.

Key Investment Insights

Key Positives

• Revenue grew 43.3% YoY (reported) and 33.6% on a like-for-like basis to Rs.2,714.18 Cr.
• EBITDA grew 80.5% YoY to Rs.588.95 Cr, margin expanded 448 bps to 21.70%.
• PAT attributable to owners grew 269% YoY to Rs.221.84 Cr.
• International segment turned profitable with margin of 8.62%, compared to loss a year ago.
• Both India and international segments expanded EBIT margins YoY.

Risk Factors

• Foreign exchange OCI loss of Rs.40.21 Cr due to rupee depreciation.
• Standalone employee cost surged 121% YoY, partly from ESOP charges (not quantified).
• Other expenses grew 47.1% YoY, faster than revenue growth of 43.3% (includes acquisition cost base).