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All these are concerns related to company's fundamental would you please clarify me

Why was the cost of equity (Ke) used as the discounting factor in your DCF valuation instead of the Weighted Average Cost of Capital (WACC), even though the company has outstanding debt and hybrid capital structures?

On what basis were "Investments" and "Loans & Advances" added to the equity value in your valuation model? Are these considered core business assets, or are they surplus or strategic in nature?

Based on the company’s segmental revenue disclosures, it appears that a significant portion of income is derived from Fashion Technology and Trading activities rather than from Green Energy operations. Could you clarify this?

Can you provide the actual revenue and EBITDA contribution of the Green Energy vertical for FY24–25?

As per the EGM resolution, the company had proposed to issue 5.90 crore shares to Raaja Kanwar and RK Eternova combined. However, actual allotment records suggest that more than 7 crore shares were issued to them collectively. Can you please clarify this discrepancy?

It is now Q2 of FY25, but the company has not yet released its Annual Report for FY24–25. When can investors expect the audited financial statements, director’s report, and management discussion and analysis to be made available?

Lenskart Solutions Private Limited

( Comment )

4 months ago

Lenskart Pre-IPO: Strong Financials, Soaring Valuation

Fidelity has marked up Lenskart's valuation to $6 billion (~₹50,000 Cr) in its recent filings. As per the DRHP filed yesterday, the company has 1,68,10,15,590 equity shares of face value ₹2 each — translating to a per-share value of ~₹297 at the $6B valuation.

FY25 Financials
• Revenue: ₹7,000 Cr
• PAT: ₹300 Cr
• Gross Margin: 66%

At $6B valuation:
• Market Cap/Sales = 7x
• P/E = 166x

But here’s the opportunity:
As per media reports, the IPO valuation might reach $10 billion (~₹85,000 Cr) — pushing the per-share value to ~₹500+.

That means:
• Market Cap/Sales = 12x
• P/E = 283x