The floor price for the deal has been set at ₹486 per share, which is a 2.8% discount to the stock’s closing price, sources said. Through the transaction, Platinum Jasmine A 2018 Trust is looking to raise ₹1,944 crore. The residual holding of the seller will be subject to a 90-day lock-up period.
Fourth Quarter
The net profit declined 8.6% year-on-year to ₹200 crore from ₹218.8 crore. Revenue for the March quarter rose 45.6% year-on-year to ₹2,515.7 crore from ₹1,727.5 crore.
Also Read: Lenskart shares and the ₹54,000 crore equity free-up on May 8; details here
EBITDA surged 84% year-on-year to ₹538.4 crore from ₹293 crore, while EBITDA margin improved sharply to 21.4% from 16.9% in the corresponding quarter last year.
Earlier today, Macquarie reiterated its “Outperform” rating on Lenskart Solutions Ltd and raised its price target to ₹600 per share, citing sustained growth momentum and improving profitability. The revised target implies a potential upside of about 19% from Tuesday’s closing price of ₹503.4.
Macquarie said the growth tailwinds that have supported Lenskart over the last two quarters appear sustainable and could drive a strong earnings trajectory over the coming years.
Also Read: Lenskart is a ‘structural compounder’ according to Elara, who sees stock beyond ₹600
The brokerage expects Lenskart to deliver an EBITDA compound annual growth rate (CAGR) of more than 35% between FY26 and FY29, supported by continued revenue growth and operating leverage.
Lenskart operates one of India’s largest omnichannel eyewear platforms, selling prescription glasses, sunglasses and contact lenses through its online platform as well as a large network of retail stores across India and overseas markets.
Shares of Lenskart Solutions Ltd ended at ₹500.65, down by ₹2.75, or 0.55%, on the BSE.
Also Read: Lenskart Block Deal | 7.2 crore shares worth ₹3,293 crore likely to change hands at ₹470
(Edited by : Jomy Jos Pullokaran)
