Q1 2027 Lenskart Solutions Ltd Earnings Call Transcript
Key Points
- Revenue grew 34% YoY with PAT up 182% to INR 228 crores, showing accelerating compounding.
- India same-store sales grew 18.3%, with same-pin-code sales up 24%, proving densification adds demand.
- International revenue grew 38% YoY, with EBITDA pre-India margin crossing 10% for the first time.
- Consolidated product margin crossed 70% for the first time, driven by supply chain integration and premiumization.
- Eye tests in India grew 42.7% to 63 lakhs, expanding the market funnel and driving volume-led growth.
- Launched AI-powered self-eye test and Rs. 500 Hustler Club glasses, democratizing vision care.
- Operating cash flow of INR 297 crores with 82% EBITDA conversion, funding expansion while improving ROCE to 23%.
- Same-store sales growth, same-pin-code sales growth, and NPS moderated this quarter, though management attributes this to policy communication issues.
- Currency headwinds continue to pressure product margins, partially offset by structural initiatives.
- International growth is largely same-store-led with only 16 net new stores added, indicating slower store expansion.
- Talent and culture are identified as key bottlenecks to scaling operations and maintaining agility.
- First-time eye test customers take longer to convert, potentially impacting near-term conversion rates.
- The Rs. 500 price point could risk cannibalization of existing customers, though management has engineered omnichannel journeys to mitigate this.
Ladies and gentlemen, good evening and welcome to Lenskart Q1 FY27 earnings conference call.
To present the results, we have with us Mr. Piyush Bansal, Co-Founder and Chief Executive Officer Mr. Abhishek Gupta, Chief Financial Officer and Mr. Nikunj Mull, Head of Investor Relations.
Please note that this call is being hosted on Zoom with a presentation on display.
For participants who would like to view the presentation alongside the discussion, please join via the Zoom link shared in advance.
As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.
Should you need assistance during this conference, you may use the chat option to interact with the moderator.
Please note that this conference is being recorded.
I now hand the conference over to Mr. Nikunj Mull, Head of Investor Relations from Lenskart.
Thank you, and over to you, sir.
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