Lenskart's Sales Surge and Financial Growth

Sales Surge:

Lenskart achieves INR 3,788 Cr in sales for FY23, a remarkable 152% increase from the previous fiscal year.

Eyewear Dominance:

Eyewear products contribute to 95% of total revenue, with revenue from this segment soaring by 154.6% to INR 3,609.8 Cr.

Company Background:

Founded in 2010, Lenskart emerges as a leading eyewear retailer, serving customers online and offline, with a loyal customer base of 20 million in India.

Financial Performance:

Overall revenue reaches INR 3,927.9 Cr, with a significant surge of 142.7% compared to the previous fiscal year.

Reduction in Net Loss and Expenses:

Net loss decreases by 38% to INR 63.7 Cr, while total expenses increase by 133% to INR 4,025 Cr, notably in procurement and employee benefits.

Advertising Investment:

Lenskart invests INR 293.8 Cr in advertising in FY23, reflecting a commitment to brand visibility and market presence.

EBITDA Growth:

Earnings before interest, tax, depreciation, and amortization (EBITDA) rise substantially to INR 403.7 Cr, leading to an expansion in the EBITDA margin to 10.6%.

Funding and Valuation:

Secures $600 Mn funding from Chrys Capital and ADIA, with discussions ongoing for additional funding from Temasek and Fidelity, potentially valuing the startup at $5 Bn.

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