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    • Lenskart reported a revenue of Rs 5,427 crore and a loss of Rs 10 crore in FY24
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    Lenskart reported a revenue of Rs 5,427 crore and a loss of Rs 10 crore in FY24

    Caradoc Wyn Posted on

    Omnichannel eyewear retailer Lenskart continued its growth trajectory in the financial year ended March 2024, albeit at a slower pace than FY23 with a significant increase of 2.5 times year-on-year.

    Lenskart’s operating revenue grew 43% to Rs 5,427.7 crore in FY24 Rs 3,788 Crore in FY23according to its annual financial statements. The company makes money by selling eyeglass frames, lenses, safety glasses and other ancillary services, including eye exams.

    Lens card

    Lenskart’s revenue from sale of products increased by 43.1% to Rs 5,166.2 crore in FY24 from Rs 3,609.8 crore in FY23. This stream accounted for 95.18% of the total collection of the in the said financial year company. Revenue from sales of services rose 26.4% to Rs 104.5 billion, while revenue from other operating sources stood at Rs 157 billion in FY24.

    The Delhi-based company also earned Rs 182.17 crore from non-operating activities, taking its total revenue to Rs 5,609.87 crore. Notably, the company earned Rs 3,154.5 crore or 58% of its revenue from India.

    Lenskart says it operates more than 2,500 stores, including around 2,000 in India. The company appears to be a world-leading Indian consumer internet company as 42% of its income (Rs 2,273 crore) came from overseas markets. Japan, Singapore, Taiwan Province in China and Thailand were the main markets.

    Peyush Bansal-led company’s material costs increased by 29.8% Rs . rupees rose.

    Lens card

    To see the full expense breakdown, visit thekredible.comView full data

    Other expenses, including finance costs and information technology, increased Lenskart’s total expenses by 37.9% to Rs 5,549.59 crore in FY24.

    Thanks to cost-effective management, Lenskart controlled its losses by 84% to Rs 10 crore in FY24 compared to Rs 63 crore in FY23. ROCE and EBITDA margins stood at 2.28% and 15.25%, respectively. Per unit, the company spent Rs 1.02 lakh to achieve one rupee of operating revenue in FY24.

    In June Lenskart was raised 200 million dollars in secondary financing, followed by a 20 million dollars Investment in which founder Peyush Bansal also participated. It has raised nearly $1 billion in capital over the past 18 months and was valued at $5 billion during the secondary transaction. Recently Lenskart’s early supporter Fidelity increased The eyewear retailer’s valuation rose to $5.6 billion.

    As the numbers show, Lenskart can easily be counted among the few start-ups that have stayed true to their goals and achieved them. Disturbances in the eyewear market. The company has been richly rewarded for its journey with more and larger investors supporting it, apart from the valuation improvements. Founder Peyush Bansal deserves credit for doing most things right and staying focused on the work, despite what his appearance on Shark Tank India might suggest to some. He has also used this platform better than most other Sharks to promote Lenskart. The future continues to offer tremendous opportunities for the company as it has a strong war chest and profitability. This next phase of the company should be exciting to watch, as Bansal isn’t known for thinking small anyway.

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    Caradoc Wyn
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