Financial Results Highlights

Consolidated Financial Performance (INR Millions)

Revenue Performance:

  • Q1 FY27 Revenue: ₹747.0 million
  • Q1 FY26 Revenue: ₹656.0 million (13.9% YoY growth)
  • Q4 FY26 Revenue: ₹739.5 million (1.0% QoQ growth)
  • FY26 Full Year Revenue: ₹2,778.6 million

Profitability Metrics:

  • EBITDA: ₹143.6 million in Q1 FY27 vs ₹119.1 million in Q1 FY26 (20.6% YoY growth)
  • EBITDA Margin: 19.2% in Q1 FY27 vs 18.2% in Q1 FY26
  • Profit before Tax and Exceptional Items: ₹120.4 million in Q1 FY27 vs ₹95.9 million in Q1 FY26 (25.5% YoY growth)
  • Exceptional Items: ₹0.0 million in Q1 FY27 (vs ₹0.0 million in Q1 FY26 and -₹57.8 million in FY26)
  • PAT after share of profit/loss from JVs: ₹103.2 million in Q1 FY27 vs ₹83.3 million in Q1 FY26 (23.8% YoY growth)
  • PAT Margin: 13.8% in Q1 FY27 vs 12.7% in Q1 FY26

Adjusted EBITDA:

  • Q1 FY27: ₹159.6 million
  • Q1 FY26: ₹147.7 million (8.0% YoY growth)
  • Q4 FY26: ₹130.9 million (21.9% QoQ growth)
  • FY26: ₹511.5 million

Operational and Business Highlights

Gross Margins:

  • Gross margins stood at 78.6% in Q1 FY27, showing both year-on-year and sequential improvement
  • Improvement driven by change in product mix
  • Gross margins for Core Dental Business excluding scanner sales marginally improved
  • Scanner sales contribution for the quarter was minimal

Expense Analysis:

  • Employee costs increased sequentially due to appointment of new CEO for USA business and addition of sales and other personnel
  • ESOP expenses (non-cash): ₹8.3 million in Q1 FY27 vs ₹18.4 million in Q1 FY26
  • Other expenses increased due to higher freight cost, ECL provisions, and spending toward AI-led automation initiatives

Business Segment Performance:

  • Dental Laboratory business grew 23.5% year-on-year
  • International operations registered 37.4% year-on-year growth
  • Aligner Solutions business grew 28.6% year-on-year
  • Bizdent growth: 27.8%
  • Vedia growth: 29.3%

Management Commentary

Mr. Rajesh Khakhar, Chairperson and Whole-Time Director:

  • Reported highest-ever quarterly revenue of approximately ₹75.0 crore (₹750 million)
  • Performance was broad-based, led by Dental Laboratory business and Aligner Solutions business
  • Profitability improvement largely due to better product mix
  • Strengthening on-ground leadership presence in US market
  • Established 3 new support facilities across multiple cities in India to deepen regional presence
  • Focus areas: core dental portfolio, deeper market penetration, AI-led automation, improving operational efficiencies

Mr. Sameer Merchant, Managing Director and CEO:

  • Performance reflects efforts of sales and operations teams
  • Supported by scanner deployments, training programs, promotional activities, dental events participation, and digital initiatives
  • Strong international growth reflects relationships and market presence across global markets
  • Positioning through digitalization, innovation, branding, and dental network expansion

Company Background

  • Incorporated in 2004
  • India's only end-to-end integrated dental products company (as of September 2024, per F&S Report)
  • Largest exporter among Indian dental labs by export value (as of December 2023, per F&S Report)
  • Presence in 95+ countries
  • Product offerings: custom-made crowns and bridges, clear aligners, thermoforming sheets, aligner-related products, pediatric dental products

Manufacturing Facilities

  • Six manufacturing facilities: three in Mira Road (MMR, Maharashtra), two in Boisar (MMR, Maharashtra), one in Kochi (Kerala)
  • Five supporting facilities: two in Mumbai, one each in Delhi, Bengaluru, and Ahmedabad