Lenskart Solutions Ltd. is anticipated to witness a significant block deal on Monday, as its existing shareholder, Platinum Jasmine A 2028 Trust, plans to sell 3 crore shares. This transaction is valued at an estimated Rs 2,047.35 crore.
Key Details of the Lenskart Block Deal
According to reports, Platinum Jasmine A 2028 Trust intends to offload these shares at a price band that represents a 3.5 percent discount to Lenskart's closing price on Friday. This substantial share transfer places Lenskart stock firmly in focus for investors and market watchers.
Lenskart's stock has demonstrated robust performance since its IPO in November 2025, with shares climbing 79 percent above the issue price of Rs 402 apiece.
Analyst Views and Future Outlook
The eyewear retailer has garnered varied opinions from market analysts. The 12-month consensus target for Lenskart stands at Rs 693.48, suggesting a marginal 1.9 percent potential downside from current levels. However, Nomura holds the highest target on the Street at Rs 888, while Ambit Capital offers a more conservative valuation of Rs 496.
MOFSL's Positive Assessment and Revised Target
Motilal Oswal Financial Services (MOFSL) maintained a 'Buy' rating on Lenskart in a September note, attributing the strong performance primarily to consistent earnings momentum. MOFSL highlighted that this has led to significant upgrades in consensus estimates, with FY28 PAT (Profit After Tax) estimates rising by 30 percent.
MOFSL emphasized Lenskart's compelling business fundamentals, including:
- Best-in-class store economics: Featuring a 33 percent store EBITDA margin and efficient store payback periods.
- Limited organized competition: Operating in a largely under-penetrated category.
- Robust free cash flow generation: Despite considerable upfront capital expenditure for its Hyderabad manufacturing plant.
The firm anticipates Lenskart will aggressively expand its retail footprint, projecting an increase to 4,500 stores in India by FY29, up from an earlier estimate of 4,300 stores.
Furthermore, MOFSL noted Lenskart's strategic advantages, or 'moats,' in a sector typically challenging to scale. These include a highly automated, centralized manufacturing facility, strong backward integration, an extensive omnichannel presence, and a house-of-brands architecture catering to diverse market segments from mass to premium eyewear.
MOFSL has revised its FY27-28E consolidated pre-IND AS EBITDA by 4 percent and 8 percent, respectively. This adjustment is driven by higher projected store additions in India and enhanced operating leverage across both Indian and international operations. The firm models a 27 percent, 46 percent, and 59 percent CAGR in revenue, pre-IND AS EBITDA, and adjusted PAT over FY26-29E, respectively.
Based on these projections, MOFSL reiterated its 'Buy' recommendation for Lenskart, raising its target price to Rs 800 from the previous Rs 705. This revised target is based on a 49x September 2028 blended pre-IND AS EBITDA multiple, with specific multiples of 55 times for India and 37.5 times for international segments.