Revenue from operations: ₹79.5 crores (highest-ever quarterly revenue), compared to ₹72.3 crores in Q2 FY26
Gross profit: ₹61.2 crores, increased by 23.5% YoY
Gross margin: 76.9% compared to 68.5% in Q2 FY26
EBITDA: ₹15.3 crores, grew by 38.5% YoY (highest-ever quarterly EBITDA)
EBITDA margin: 19.2% compared to 15.3% in Q2 FY26 (390 basis points expansion)
Adjusted EBITDA (including 60% of Kids-e-Dental PAT, 49% of IDBG AI Dental PAT, and ESOP expenses): ₹16 crores
PAT: ₹10 crores, grew by 17.6% YoY
PAT margin: 12.6% compared to 11.8% in Q2 FY26
Financial Performance - H1 FY27
Revenue from operations: ₹154.2 crores compared to ₹137.9 crores in H1 FY26
Gross margin: 77.7% compared to 70.8% in H1 FY26
EBITDA: ₹29.6 crores, grew by 29.2% YoY
EBITDA margin: 19.2% compared to 16.6% in H1 FY26
PAT: ₹20.4 crores, increased by 20.7% YoY
PAT margin: 13.2% compared to 12.2% in H1 FY26
Segment Performance Q2 FY27
Dental lab business: Grew by 22.7% YoY
International lab: 32% growth
Domestic lab: 15% growth
Digital penetration in domestic lab: 78% (targeting 90%+)
Aligner solutions business: Grew by 23.5% YoY
Bizdent (branded clear aligners): 27.7% growth
Vedia: 19.1% growth
Pediatric dental business (Kids-e-Dental): 16.7% YoY growth
Scanner sales: ₹3.5 crores compared to ₹8.9 crores in same period last year
Capital Structure and Balance Sheet
Company maintains debt-free balance sheet
Cash and bank balances (including fixed deposits and other investments): ₹97 crores as of September 30, 2026
H1 FY27 Capex: Approximately ₹16.7 crores
IPO Funds Utilization Update
Shareholders approved updating objects and extending timeline for utilization
Unutilized IPO funds: ₹48.1 crores
Revised deployment plan:
₹27+ crores for acquisition of land and construction of building/infrastructure for dental laboratory and aligner manufacturing facilities
₹21+ crores for machinery, computer equipment, and other movable assets for existing and new facilities
Deployment planned across FY27 and FY28
Expected completion of transition to new facility by end of FY28
Strategic Initiatives
Scanner subscription model: New deployment strategy with ₹50,000 deposit and ₹3,000 + GST monthly subscription, requiring minimum ₹25,000 business commitment per month
International expansion: Planning to establish labs in key international markets (US, UK, Europe) using hybrid model with digital work in India and physical presence abroad
New manufacturing facility: Planning 1.25-1.5 lakh square foot facility (3-3.5x current size)
Digital strategy: Focus on increasing digital penetration from current 78% to over 90%
Hub-and-spoke model: Expanding domestic presence to increase wallet share with existing dentists
Other Material Updates
Tariff refund: Received approximately ₹5.5 crore (excluding interest), to be reflected in Q3 FY27 results
International presence: Operating in 90-100 countries across product lines
Domestic reach: Present in 300+ cities in India
Payment terms: 30-60 days for both domestic and international customers
Product delivery: Primarily by air for international shipments
Management Commentary
Growth driven by better product mix and operational efficiency
Scanner deployments strengthening dentist relationships and creating recurring business opportunities
Focus on building owned manufacturing infrastructure for better efficiency and scalability
Dentistry experiencing transformation through digital technologies, AI, and precision manufacturing
Company positioned to capitalize on growth opportunities in medium to long term
Q&A Highlights
Business primarily serves dental clinics (not pharmacies or hospitals)
Majority sales not concentrated only in top 10 cities - present across 300+ Indian cities
International expansion through distributors for standard products and direct to dental chains for custom products
Aligner business strategy focused on B2B2C model (not direct to consumer)
All manufacturing is in-house (no third-party)
Margin improvement driven by both realization and operational efficiency
Subscription model response has been positive with thousands of leads received
