Overview
- Emkay initiates coverage with a Buy rating and a Rs 525 target, using a DCF‑implied multiple of 56x Dec‑27E EBITDA.
- Avendus Spark starts with an Add rating and a Rs 490 target, projecting 21% revenue CAGR for FY25–28 and a 550 bps EBITDA margin uplift.
- Emkay models ~25% revenue CAGR and ~50% EBITDA CAGR for FY25–28 and points to sub‑one‑year store payback and ~64% India gross margins.
- Brokerages cite Redseer’s ~13% industry CAGR view driven by a 700 bps GST cut, rising refraction errors, and eyewear’s fashion appeal.
- Lenskart shares trade near Rs 455 after a Rs 355.70–495 range since the Nov. 10 listing, with brokers noting limited near‑term upside despite ~Rs 4,000 crore net cash and aggressive expansion, including 450 planned FY26 store additions and global rollout.