Eyewear retailer Lenskart's fourth-quarter net profit fell marginally to Rs 203.6 crore compared to Rs 220 crore in the year-ago period, as higher expenses offset strong revenue growth.
However, operating revenue grew 46% year-on-year to Rs 2,515.7 crore during the quarter, with revenue from Indian operations growing 44%, driven by improved volume expansion and higher new customers addition.
The company conducted 6.8 million eye tests during these three months, a 45% increase compared to the previous year, it said in filings made with the stock exchanges on Wednesday.
"In Q2, we spoke about entering a compounding phase. In Q3, we saw early confirmation. Q4 reinforces that," Peyush Bansal, chairman and CEO of Lenskart, said in a letter to shareholders.
A critical factor behind this growth is Lenskart's approach to eye tests, which it views as a tool for market creation, according to Bansal.
Of the 23.8 million tests conducted annually, approximately half were for first-time eye exams in India. The company has spent a decade rebuilding the unorganised eyewear category with technology as its spine, adding that they are "owning every layer of the value chain" with the help of artificial intelligence, he said.
The firm plans to double down on its use of AI in products like smart glasses as well as back-end operations such as eye tests in FY27. "Our single biggest priority for FY27 is sustaining growth - and the engine of that growth is the transformation of Lenskart from a consumer-tech company into a consumer-AI company. Everything that follows - flows from that one decision," Bansal noted.
Lenskart will run experiments using available data like purchase history, face geometry, and social trends to create an AI-first operating model.
"Our priority is to use AI to close the feedback loop across every layer of it, faster than ever before. In FY27, eye test data should automatically inform product design. A shift in social trends should reach manufacturing in days, not weeks," Bansal added.
The company nearly doubled its store rollout pace in India, adding 542 net new stores compared to 282 in the previous year, bringing the total active store count to 3,327 globally. Notably, 254 of these new Indian stores were in Tier 2+ markets, indicating that these smaller markets offer high shares of first-time buyers and robust revenue potential, according to Bansal.
Net new store additions in FY27 are expected to be at or around FY26 levels, the company said. However, margins in the near term may vary, shaped by geopolitical conditions and long-term bets the company chooses to make "ahead of the curve", the letter noted. Lenskart Gold membership reached 8.8 million active users, contributing Rs 199.5 crore in subscription fees.
Lenskart reported revenue from operations of Rs 8,988 crore for the year, up 28% year-on-year, driven by volume expansion and new customer acquisition.