Financial Performance Highlights

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from operations: ₹795.2 million (up 10.0% from ₹722.7 million)
  • EBITDA: ₹152.7 million (up 38.5% from ₹110.2 million)
  • EBITDA Margin: 19.2% (vs 15.3%)
  • PAT after share of profit/loss from JVs: ₹100.4 million (up 17.6% from ₹85.3 million)
  • PAT Margin: 12.6% (vs 11.8%)
  • Adjusted EBITDA: ₹160.1 million (up 17.1% from ₹136.7 million)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from operations: ₹1,542.2 million (up 11.9% from ₹1,378.6 million)
  • EBITDA: ₹296.3 million (up 29.2% from ₹229.3 million)
  • EBITDA Margin: 19.2% (vs 16.6%)
  • PAT after share of profit/loss from JVs: ₹203.5 million (up 20.7% from ₹168.6 million)
  • PAT Margin: 13.2% (vs 12.2%)

Operational Metrics

  • Gross margins improved to 76.9% due to change in product mix
  • Scanner sales contribution: ₹3.5 crore (vs ₹8.9 crore in Q2FY26)
  • ESOP expenses: ₹2.1 million (non-cash, includes ₹6 million reversal for departed employees)
  • Employee expenses increased due to annual increments and addition of people in domestic sales, operations and US business
  • Other expenses grew year-on-year due to higher business promotion, freight cost and AI-led automation spend

Business Segment Performance

  • Dental Laboratory Business: Grew 22.7% YoY
  • International operations: 32.0% growth
  • Domestic operations: 15.0% growth
  • Aligner Solutions: Grew 23.5% YoY
  • Bizdent: 27.7% growth
  • Vedia: 19.1% growth
  • Kids-e-Dental: Grew 16.7% YoY

Strategic Developments

  • Shareholders approved redeployment of ₹48.1 crore unutilized IPO proceeds
  • ₹26.9 crore allocated towards land and building for company-owned integrated dental laboratory and aligner facility
  • Transition to new facility will be phased to ensure service continuity without material impact
  • Plans to deploy scanners on subscription model to reduce upfront adoption costs

Management Commentary

Rajesh Vrajlal Khakhar, Chairperson and Whole-time Director: Highlighted highest-ever quarterly revenue, broad-based growth across Dental Laboratory and Aligner Solutions businesses, and healthy profitability supported by core dental product mix. Noted structural shift in India's dental industry with fragmented lab market organizing and increasing digital adoption.

Sameer Kamlesh Merchant, Managing Director and CEO: Emphasized strong performance across segments, long-standing relationships with dental partners, and investments in AI-led automation. Mentioned strengthened US leadership, participation at International Dental Show (IDS), and benefits from India-EU Free Trade Agreement for global expansion.

Company Background

Laxmi Dental Limited is India's only end-to-end integrated dental products company with presence in 95+ countries. Manufacturing across six facilities in Maharashtra and Kerala, with eight supporting facilities across major Indian cities.