Lenskart Solutions Limited stock analysis

As Hyderabad plant comes in and as our insourcing improves, we'll further continue to work on this direction. Short term headwinds could still be there if the currency worsens further, but our constant endeavor is to keep doing backward integration and improving our cost structure to serve our consumers better. Our next question comes from the line of Vivek M with Jefferies.

The key number, EBITDA pre- Ind AS 116 margin reached 10.6%, up from 4.5% last year, with total number clocking to ₹127 crores, which was triple of what we did last year. This is a result of operating leverage Lenskart Solutions Limited August 12, 2026 Page 6 of 20 and product margin. Product margin expanded to 77.1% on deeper supply chain integration of Owndays and Meller.

Internationally, the same dynamic is playing out. With only 61 net new stores added in FY26, the majority of international revenue growth of 30.2% was same-store-driven. In Singapore, the dual-brand strategy (Owndays for premium, Lenskart for accessibility) is deepening wallet share within existing catchments.

The pace was deliberately measured - the majority of international revenue growth was same-store-driven. Each market operates at a different lifecycle stage: Singapore is established with market leadership; Japan is scaling with improving unit economics and whitespace in underpenetrated prefectures identified by GeoIQ; Thailand is in growth mode with the Lenskart brand introduction alongside Owndays; and Saudi Arabia

PAT margin expanded to 5.9% from 3.1% (adjusted). EBITDA margin expansion of 294 bps (16.9% to 19.9%) was the primary driver of the 275-bps PAT margin expansion. Depreciation and amortisation as a share of revenue declined from 12.7% to 11.7% as strong same-store growth leveraged the existing fixed-cost base.

During the financial year 2025-26, the Company did not pay any sitting fees or commission to its Non-Executive Directors. The Independent Directors were paid fixed remuneration (annual compensation), as approved by the Board and the Members of the Company, commensurate with their experience, roles and responsibilities. No remuneration was paid to the Non-Executive Non-Independent Director during the year under review

We will add a conversational layer to this system, enabling teams to query markets, evaluate sites, and shortlist opportunities through a single intelligence stack. Its “find the best market for me” engine will help shift expansion planning from reactive site evaluation to proactive market targeting. Looking Ahead: Smarter Retail Expansion Workflows Annual Report 2025-26 36 Translating Customer Feedback into Product

The facility of participation at the AGM through VC / OAVM will be made available to at least 1,000 Members on a first-come-first-served basis, as per the MCA Circulars. The large Shareholders (i.e., Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders’ Rel