New Delhi: Eyewear unicorn Lenskart is preparing for a major technology-led pivot, unveiling plans to move beyond traditional retail into an eyewear-plus-data ecosystem, even as its September-quarter profit surged 50% year-on-year. In an exclusive earnings call, CEO Peyush Bansal said the company is now operating a “global compounding machine,” powered by AI, in-house manufacturing and an aggressive international expansion model that spans India, Southeast Asia, Japan and the Middle East.
The company reported 24% revenue growth in Q2 FY26 to ₹21,466 crore (pro forma) and a 34.5% jump in EBITDA, with margins rising to 19.8%. Profit for the quarter rose to ₹1,130 crore, taking Lenskart’s H1 FY26 net profit almost equal to its full-year FY25 earnings, signalling what Bansal termed the “math of operating leverage at scale.”
A large part of that future scale, he said, will come from AI-driven operations and product innovation. Lenskart has over 500 engineers, one of the largest tech teams in global eyewear, building systems for demand prediction, supply-chain design, store location planning and even AI-led recruitment. Bansal said AI is already “running interviews, scheduling talent, optimising inventory and guiding logistics,” compressing delivery times to a day or less across 58 Indian cities.
The company’s most ambitious project, however, is its first major smart glasses, internally referred to as Project B. Built on Qualcomm’s AR1 chip, the glasses will allow users to make calls, capture videos, use voice assistants, translate languages and even make UPI payments. “This takes us from an eyewear company to an eyewear-and-data company,” Bansal said, calling B only the “first chapter of a long roadmap.”
Lenskart continued to expand its retail footprint and manufacturing capabilities, producing nearly 4 million frames in H1, giving the company a 35–40% landed-cost advantage over competitors. Product margins touched 69.2%, supported by in-house manufacturing and private-label scaling. International operations, particularly in Singapore and Japan, saw strong uptake with two-hour delivery for contact lenses and high repeat usage in premium markets.
Customer satisfaction metrics also climbed, with Lenskart’s Net Promoter Score rising to 79%, up sharply from 70% two years ago. Bansal said the company now treats customer delight as a “non-negotiable cultural value,” citing incidents where glasses were delivered in under 30 minutes using remote optometry and express logistics.
Even as analysts raised questions on blue-block lens comfort and brand positioning abroad, Bansal assured that R&D is “entirely in-house, from material to coating,” and clarified that Lenskart does not sell Crizal lenses in Singapore despite customer confusion.
With 750 million Indians still requiring vision correction, and 46% of Lenskart’s 9.3 million H1 eye-tests coming from first-time users, Bansal said the company’s mission is now larger than retail. “We want to take India from the blind capital to the vision capital,” he said, calling FY26 “day zero” of a decade-long growth cycle driven by technology, manufacturing scale and smart devices.