Lenskart Solutions Share Price Hits 52-Week High After China Subsidiary Incorporation
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Lenskart Solutions shares climbed to a fresh 52-week high after the company incorporated a Chinese step-down subsidiary for its optical trading business, building on the stock's post-earnings momentum.
Shares of Lenskart Solutions climbed as much as 3.4% on Tuesday, August 18, to hit a fresh 52-week high of Rs 628.80 apiece on the NSE, after the eyewear retailer disclosed the incorporation of a new step-down subsidiary in China. The stock has also been supported by strong earnings reported by the company for the April-June quarter.
At 11:28 AM, the eyemakers shares were trading at Rs 626.10, up 3.04% on the day. The stock has gained 43% so far this year, 16% over the past month and 29% in the last six months. The company's market capitalisation stood at Rs 1.09 lakh crore as of August 18, according to NSE data.
In a regulatory filing, Lenskart said its step-down subsidiary, Wenzhou Framekart Trade Co., Ltd, was incorporated on August 14, with its Certificate of Incorporation issued on August 17. The Chinese entity will undertake trading, import, export and procurement of spectacle frames and other optical products, as well as associated materials, equipment and technology required for the operations of Baofeng Framekart Technology (BFT) and its subsidiaries.
BFT will hold a 95% equity interest in Wenzhou Framekart Trade Co., Ltd and has subscribed RMB 1 million towards the entity. As the company has been incorporated as a Chinese limited liability company, its ownership is represented through equity interest rather than a fixed number of shares.
Q1 FY27 Earnings Snapshot
The latest corporate development comes after Lenskart reported a strong performance for Q1 FY27. Consolidated net profit rose 269% year-on-year to Rs 222 crore from Rs 60 crore in the year-ago quarter, while revenue from operations increased 43% to Rs 2,714 crore from Rs 1,894 crore.
EBITDA rose 61.37% year-on-year to Rs 589 crore from Rs 365 crore, while the EBITDA margin expanded 370 basis points to 21.7%. The margin stood at 21.4% for the India business and 21.9% for international operations.
The stock's latest move takes it further above its previous 52-week levels, with investors tracking the company's earnings growth as well as its expansion of operations in international markets.
Shares of Lenskart Solutions traded at Rs 626.10 on the NSE, up 3.04% for the day.
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Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
