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Laxmi Dental Results: Latest Quarterly Results & Analysis

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Laxmi Dental Ltd. 12 Nov 2025 13:00 PM
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Q2FY26 Quarterly Result Announced for Laxmi Dental Ltd.

Healthcare Supplies company Laxmi Dental announced Q2FY26 results

  • Highest ever quarterly revenue in Q2FY26.
    • Delivering growth of 26.5% YoY and 10.2% QoQ.
  • In Q2 FY26, scanner sales which are typically at lower margins were pushed in alignment with long-term digitalization and growth strategy.
  • Increase in employee expenses is on account of annual increments.
    • ESOP expenses, which are non-cash in nature, stood at Rs 16.76 Mn for Q2FY26 and it is expected to be Rs 63.4 Mn for FY26.
  • Rs 66.2 Mn worth of exceptional Item pertaining to gain on property sale was recorded in Q1FY25. Therefore, H1FY25 is a non-comparable higher base.

Rajesh Khakhar, Chairperson & Whole-Time Director, said: “Q2FY26 marked another quarter with strongest ever sales for Laxmi Dental, growing 26.5% YoY. Despite global uncertainties, our resilient business model and strategic focus enabled us to maintain decent profitability, with EBITDA margin at 15.3% and PAT margin at 11.8%.

Scanner sales jumped 94.7% YoY, with the number of units sold in the first half of FY26 already crossing the number of units sold in the entire year of FY25. These scanner sales are strategic in nature and continue to drive digital transformation across our dental network and laying the foundation for future growth.

With a focus on digital dentistry and AI, we remain committed towards innovation, operational excellence, and capturing emerging opportunities in the dental industry.”

Sameer Merchant, Managing Director & CEO, said: “Our sustained performance highlights the strength of our portfolio and the effectiveness of our strategic initiatives. Adjusted for scanner sales, our segmental performance reflected a broadbased growth. Dental lab business grew 29.9% YoY, driven by a continued traction in both domestic as well as international markets. The aligner solutions segment recorded a 12.3% YoY growth, primarily driven by ‘Taglus’, which recorded an impressive 29.9% YoY growth. On a YoY basis, our clear aligner business, ‘Bizdent’, sustained at similar levels, due to competitive pressures. However, on a QoQ basis, Bizdent recorded a growth of 10.9%

Kids-E-Dental, showed signs of recovery with a 21.4% QoQ growth. We anticipate accelerated momentum in this business once registration processes are cleared for multiple international geographies.

We continue to invest in automation, R&D, and brand building. With rising dental awareness, regulatory tailwinds, and market consolidation, we are well-positioned to sustain our growth trajectory and deliver long-term value to stakeholders."

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Healthcare Supplies company Laxmi Dental announced Q1FY26 results

  • Revenue: Rs 656.0 million compared to Rs 596.6 million during Q1FY25, change 9.9%.
  • EBITDA: Rs 119.1 million compared to Rs 140.1 million during Q1FY25, change -15.0%.
  • EBITDA Margin: 18.2% for Q1FY26.
  • PBT: Rs 95.9  million compared to Rs 96.1 million during Q1FY25, change -0.2%.
  • PAT: Rs 83.3 million compared to Rs 168.5 million during Q1FY25.
  • PAT Margin: 12.7% for Q1FY26.

Rajesh Khakhar, Chairperson and Whole-Time Director, said: “Laxmi Dental demonstrated solid performance in Q1FY26, with net sales increasing by 10% YoY to Rs 656 million. This growth comes vis-à-vis a very strong quarter Q1FY25, amidst an environment filled with competition on the domestic side and geopolitical uncertainty on the international side.

As a company, we are laser-focused on growth while maintaining the overall margin profile, which is reflective of margin improvement on a QoQ basis. We expect to maintain our growth trajectory on a QoQ basis to achieve our full-year revenue growth target of 20 to 25% with a healthy margin profile in FY26.”

Sameer Merchant, Managing Director & CEO, said: “Looking at our segmental performance, aligner solutions grew at a solid rate of 18% YoY, and the dental lab business delivered a decent growth of 8% YoY. For a like-for-like comparison, we have excluded the scanner sales from the above numbers. Notably, Scanners, which are strategic for our business, recorded a 26% YoY increase in sales.

At Laxmi Dental, digital dentistry is central to our business strategy, and this continued deployment of scanners in the domestic market is in line with this strategy. While the scanner sales come at a relatively lower margin, we see this as an enabler for our long-term growth. AI is also gaining prominence in digital dentistry. With our investment in AI Dent, we plan to tap into our existing customer base for AI-powered solutions, including AI-powered dental imaging, X-ray analysis software, and AI-powered dentistry. This will further enhance the value proposition of our existing offerings.“

Result PDF

Healthcare Supplies company Laxmi Dental announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenues: Rs 606.7 million ( 10.2% YoY)
  • Gross Profit: Rs 477.8 million ( 11.8% YoY)
  • Gross Profit Margin: 78.7% (up from 77.6%)
  • EBITDA: Rs 95.2 million (-18.5% YoY)
  • EBITDA Margin: 15.7% (down from 21.2%)
  • PAT (after share of profit/loss from JVs): Rs 42.7 million (-44.5% YoY)
  • PAT Margin: 7.0% (down from 14.0%)

FY25 Financial Highlights:

  • Revenues: Rs 2,391.1 million ( 23.5% YoY)
  • Gross Profit: Rs 1,818.7 million ( 25.4% YoY)
  • Gross Profit Margin: 76.1% (up from 74.9%)
  • EBITDA: Rs 418.7 million ( 76.0% YoY)
  • EBITDA Margin: 17.5% (up from 12.3%)
  • PAT: Rs 318.3 million ( 26.2% YoY)
  • PAT Margin: 13.3% (up from 13.0%)

Management commentary

“We are delighted to report that our performance for FY25 has been remarkable. We achieved a 24% YOY revenue growth, reaching Rs 2,391 million, while maintaining a robust gross profit margin of 76%. Our EBITDA and PAT margins stood at 17.5% and 13.3%, respectively. Notably, we achieved our full-year targets, and also recorded our highest-ever annual performance in terms of Revenue, EBITDA, and PAT

For a better understanding of our profitability picture, Adjusted EBITDA (which includes – Reported EBITDA, 60% of Kids-e-dental PAT, IDS event expenses and ESOP expenses) should be considered. It stood at Rs 516 million for FY25

In Q4FY25, we participated in International Dental Show (IDS) in Cologne, Germany, a premier global event for the dental industry, showcasing cutting-edge innovations and attracting exhibitors from all over the world.

As planned, we have started deploying our IPO proceeds towards business expansion by ordering additional scanners, latest machines and investments towards improvement of automation and digitalization. We have also significantly reduced our debt, thereby strengthened our balance sheet and anticipating lower interest costs in the upcoming years

Laxmi Dental is well positioned to deliver exponential grow by continuously expanding our product reach and increasing our wallet share with existing dentists, with a focus towards higher digital penetration.”

Result PDF

Healthcare Supplies company Laxmi Dental announced Q3FY25 results

  • Net Revenue for Q3FY25 was Rs 616.6 crore, 29% YoY.
  • Revenue from Kids-e-Dental stood at Rs 55 million.
  • Employee cost includes ESOP expenses of Rs 3.6 million in Q3FY25
  • For FY25 and FY26, the company expects to record ESOP expenses to the tune of Rs 22 million and Rs 64 million, respectively
  • Following the IPO, the company has repaid approx. Rs 126 million of its borrowings in Q4FY25. Further, it plans to bring down debt to marginal levels by the end to FY25. As a result, substantial reduction is expected in the finance cost from Q1FY26.

Management Commentary

“We are pleased to see such an amazing response to our IPO. We thank all the shareholders for reposing their faith in us. We welcome our new shareholders & congratulate all stakeholders for the successful listing.

Q3FY25 ended on a strong note, achieving revenues of Rs 617 million with a YoY growth of 29%. The company saw healthy double-digit growth across all business segments, with Aligners leading the pack, followed by Laboratory and other businesses. The adjusted EBITDA (including profit share of kids-e-Dental LLP) stood at Rs 108 million while PAT stood at Rs 48 million. We are expecting to close the current financial year with revenue of around Rs 2,400 million with PAT margin of 13% to 15%.

From an industry perspective, there are several tailwinds, including growing awareness of oral healthcare, cosmetic dental procedures, and under-penetration of dental care, backed by technological advancements, that are expected to drive growth over a long-term period. Further, these industry tailwinds will be complemented by increasing outsourcing trends from global players, thereby putting us on a strong footing.

Today, Laxmi Dental has established a leadership position in this space with a comprehensive portfolio of products catering to overall dental care requirements. This enables us to capture a large pie of this sizeable and growing market by deepening our existing dental network as well as adding new customers in various geographies. Over the next 3-5 years we expect to continue on this trajectory and grow at CAGR of 20 to 25%.”

Result PDF

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