Less than a year ago, Peyush Bansal’s eyewear company was preparing to go public at a valuation that left investors scratching their heads. At 230x P/E and 10.5x sales, the question was not whether Lenskart had built a successful business, but whether there was anything left on the table for investors after paying such a steep price.
The numbers made the valuation look even harder to digest. Even if Lenskart tripled its profits from that level over the next few years, the valuation would still work out to around 70x.
