Laxmi Dental Ltd(LAXMIDENTL)

NSE: LAXMIDENTLBSE: 544339

₹ 171.25-2.81%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 942 crWebsite: www.laxmidentallimited.comUpdated: 24 Oct 2026

About

Laxmi Dental Ltd is an Indian manufacturer of dental laboratory products, clear aligners, CAD/CAM restorations, and aligner raw materials, operating through three reported segments: Laboratory Business, Aligners Business, and Other. The company reported FY26 revenue of Rs 277.86 crores, growing 16.2% year-on-year. It serves both domestic dentists and international dental service organisations (DSOs), with exports accounting for 33 - 34% of quarterly revenue as of Q4 FY26.^[1][2][3]

Business segments

Laboratory Business: 69.8% of FY26 revenue (Rs 196.87 crores), EBIT margin 15.3%; covers domestic and international dental lab work including crowns, bridges, and CAD/CAM restorations.^[3]
Aligners Business: 27.2% of FY26 revenue (Rs 76.65 crores), EBIT margin 18.8%; includes Bizdent clear aligners for dentists and Vedia aligner raw materials (Taglus brand) sold globally.^[3]
Other Business: 3.1% of FY26 revenue (Rs 8.64 crores), EBIT margin -14.2%; includes Kids-e-Dental paediatric dental products.^[3]

Products and brands

Products span dental laboratory restorations, CAD/CAM-based products, customised dental restorations, 3D printing technologies, and clear aligners.^[4]
Bizdent Devices Private Limited (BDPL), the clear aligner subsidiary, has a Board-approved merger into the parent company pending Regional Director approval as of March 2026.^[4]
Vedia sells aligner sheets, thermoforming machines, and 3D printing resins under the Taglus brand to customers in multiple geographies.^[5]
iScope 360, a B2B2C AI-connected remote intraoral scanning and monitoring device retailing at ~Rs 2,000 to patients via dentists, was launched in Q4 FY26.^[2]
Kids-e-Dental paediatric dental products are manufactured by the company; CE mark (covering ~40 countries) and FDA approvals are being pursued.^[5][2]

Manufacturing and operations

The company currently operates its domestic dental lab and aligner manufacturing from leased premises.^[4]
Dental lab capacity utilisation was 90 - 95% in Q1 FY27; aligner capacity utilisation was ~70% in Q1 FY27.^[6]
Digital penetration (share of digitally produced work) in the domestic lab reached 75 - 80% in Q1 FY27, versus ~7 - 8% scanner penetration for the broader Indian dental industry.^[6]
1,009 intraoral scanners were deployed in FY26 (211 in Q4 FY26 alone), meeting the full-year target of ~1,000 units.^[2]

Key operating numbers

Q1 FY27 consolidated revenue: Rs 74.7 crores, up 13.9% YoY - highest-ever quarterly revenue; Q4 FY26 was Rs 74 crores (+21.9% YoY).^[6][2]
International lab grew 37.4% YoY in Q1 FY27 and 40.9% YoY in Q4 FY26; domestic lab grew ~12% YoY in Q1 FY27.^[6][2]
Aligner solutions (Bizdent + Vedia combined) grew 28.6% YoY in Q1 FY27; Bizdent +27.8%, Vedia +29.3%.^[6]
Kids-e-Dental grew 54.4% YoY in Q1 FY27.^[6]
Gross margin recovered to 78.6% in Q1 FY27 from 73.3% in Q1 FY26 and 70.5% in Q4 FY26, driven by minimal scanner sales in the quarter; scanners carry ~20% gross margin versus higher margins in core dental.^[6]
EBITDA margin: 19.2% in Q1 FY27 (up from 18.2% in Q1 FY26); 18.3% in Q4 FY26; 15.6% for full-year FY26.^[6][2]

Customers and distribution

Export revenue share was 33 - 34% of quarterly revenue in Q4 FY26; the US alone contributed ~20% of revenue as of Q4 FY26.^[2]
International lab business serves DSOs and dental labs across global markets; international scanner deployments and EU FTA are cited as drivers of geographic expansion.^[6][7]
Domestic lab reach is being deepened through satellite lab additions to serve dentists closer to their practices.^[6]

Expansion and capex

Company executed a letter of intent to acquire land in Palghar, Maharashtra to consolidate two leased domestic facilities (Illusion Dental Lab and Aligners) into a single owned facility, saving ~Rs 2 crores/year in rent.^[6]
The proposed Palghar facility is expected to be approximately 3 times the current combined production space and will house manufacturing, warehousing, quality control, R&D, training centres, and administrative offices.^[4]
New machinery investments in FY27 are planned to modernise and expand Kids-e-Dental manufacturing capacity.^[6]
Full-year FY26 capex was Rs 184 mn; Rs 64 crores of unutilised IPO proceeds remained available for deployment as of Q2 FY26.^[2][5]

Recent developments

A new CEO for the US business, with 32 years of medical device and dental industry experience, was appointed in Q1 FY27 to strengthen on-ground leadership in that market.^[6]
US tariffs on Indian dental exports moved from ~55% to 25% (mid-February 2026) and then to 10% during Q4 FY26; management views 10% as manageable at ~20% US revenue share.^[7][2]
Board approved the merger of subsidiary Bizdent Devices Private Limited into the parent company in March 2026; the merger is pending Regional Director approval.^[4]
Scanner deployment target for FY27 is 800 - 1,000 units; the company plans to participate in the International Dental Show (IDS) towards end of FY27 to expand its global distributor and lab network.^[6]

Market Cap

₹942 Cr

High / Low

₹345 / 156

Stock P/E

32.6

Price / Book

4.1

Book Value

₹44

EPS

₹5.3

No. of Shares

5.5 Cr

ROCE

16.6%

ROE

12.8%

OPM

12.6%

Debt / Equity

0.00

Sales

₹278 Cr

Net Profit

₹29 Cr

Promoter holding

41.8%

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