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The idea of this exercise is only to educate you on how a Fundamental Analysis using Trading Comparables method should be done to evaluate whether the valuation for a business makes sense. I’ve done this by comparing Lenskart’s numbers and figures from Q1 FY 2025-26 (i.e. April to June 2025) across listed startups and traditional retail players. By these numbers, the valuation may seemed to have been reasonable for all the institutional investors who are putting in money in the company. Though,
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