Mumbai, Dec. 19 -- The brokerage reportedly highlighted Lenskart's vertically integrated supply chain and strong execution track record as key positives. Its end to end control over manufacturing, design and distribution is seen as a major advantage in India's fragmented eyewear market, helping on costs, speed and efficiency.

The broker expects this positioning to drive strong medium term growth and margin expansion. Lenskart is projected to add 450 to 600 stores annually and deliver a sales CAGR of about 26% over FY25 to FY28. Operating EBITDA is expected to nearly triple over the same period, supported by operating leverage and higher in house manufacturing.

Faster margin expansion, improved international execution and quicker adoptio...