Lenskart Solutions share price jumps over 13%, hits record high after Q3 results; should you buy, sell, or hold?

Lenskart Solutions' share price jumped 13% in morning trade on the BSE on Thursday, February 12, to hit its record high, a day after the company announced its December quarter (Q3) results. Lenskart shares opened at ₹511.65 against their previous close of ₹466.35 and jumped as much as 13% to their all-time high level of ₹526.35.

Lenskart Solutions, after market hours on February 11, reported a consolidated profit of ₹1,310.29 million for the December quarter of the current financial year (Q3FY26). In the same quarter last year, the company's profit was ₹18.50 million, while for Q2FY26, the company reported a profit of ₹1,022.18 million.

Revenue from operations for the quarter under review rose to ₹23,077.31 million from ₹16,688.35 million in Q3FY25.

Lenskart Solutions shares: Should you buy, sell or hold after Q3 results?

Brokerage firm Emkay Global has a buy call on the stock with a target price of ₹550. Emkay highlighted that Lenskart delivered an about 8% EBITDA beat in Q3, led by 9%/5% beat in India/International operations.

"The flywheel is accelerating, with free eye tests enabling volume growth (nearly 30% YoY in Q3), loyalty driving repeat purchases/premiumization (ATS up nearly 7%), and backward integration/SSG driving EBITDA margin expansion (up by nearly 400bps in 9M)," said Emkay.

Emkay further pointed out that the India business delivered best-in-class topline growth of nearly 40%/30% YoY in Q3/9M, led by nearly 28% SSG in Q3. In CC terms, the International business has delivered 24% growth in Q3, allaying concerns around a likely slower growth here.

Despite accelerated expansion, the India/International EBITDA margin expanded by nearly 400bps YoY to nearly 14%/6% in 9MFY26, helped by operating leverage, Emkay said.

"With AI at the core across most business functions, Lenskart is targeting a long-term steady-state margin of nearly 25%. Store expansion and ongoing HBD capacity expansion have been completely funded by internal accruals, with nearly ₹40 billion balance-sheet cash providing incremental medium-term growth optionality," said Emkay.

Brokerage firm JM Financial, too, maintained a buy call on the stock, raising the target price to ₹565 to ₹535 earlier.

JM Financial said Lenskart’s Q3 print was robust, with consolidated revenue growth of 37% primarily led by 40% growth in India and 33% revenue growth in the international business.

"Q3 performance has only reinforced our confidence in Lenskart’s operating model where growth and profitability are not trade-offs, but are compounding outcomes of the same AI-driven operating system now scaling globally," JM Financial said.

"Given the strong Q3 print we increase our FY26-28E pre-Ind AS EBITDA estimates by 6-10% and revise our DCF-based target price to ₹565 (earlier ₹535), with a WACC of 12% and 6% terminal growth rate. Our target price implies 54 times Dec’27E EV/EBITDA," said JM Financial.

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