Laxmi Dental Ltd Share Price – NSE  / BSE

Healthcare, Small Cap

The company?s consolidated profit after tax after share of profit/loss from joint ventures surged 136.1% YoY to Rs 10.09 crore in Q4 FY26 from Rs 4.27 crore in Q4 FY25. Sequentially, PAT jumped 414.6% from Rs 1.96 crore reported in Q3 FY26.

Revenue from operations rose 21.9% YoY and 12% QoQ to Rs 73.95 crore during the quarter. The company said Q4 FY26 marked its highest-ever quarterly revenue.

EBITDA climbed 41.8% YoY and 93.8% sequentially to Rs 13.5 crore in Q4 FY26. EBITDA margin improved to 18.3% from 15.7% in the year-ago quarter and 10.5% in Q3 FY26.

The company said EBITDA during the quarter was impacted by around 74 basis points due to higher US tariffs during the first half of the quarter.

Gross profit margins stood at 70.5% during the quarter, showing sequential improvement despite a higher contribution from lower-margin scanner sales. The company said gross margins for the core dental business excluding scanner sales remained steady at around 76%.

Profit before tax and exceptional items jumped 98.8% YoY to Rs 11.14 crore in Q4 FY26, while reported profit before tax rose 85.3% to Rs 11.14 crore from Rs 6.01 crore in Q4 FY25.

On the cost front, raw material cost surged 187.35% YoY to Rs 11.81 crore in Q4 FY26. Employee benefit expenses rose 9.6% YoY to Rs 26.76 crore in Q4 FY26. Finance costs declined sharply by 72.2% to Rs 0.35 crore from Rs 1.26 crore, while depreciation and amortisation expenses increased marginally by 2.1% to Rs 4.38 crore from Rs 4.29 crore. Other expenses declined 14.2% YoY to Rs 11.87 crore from Rs 13.84 crore.

For FY26, consolidated revenue from operations increased 16.2% YoY to Rs 277.86 crore from Rs 239.11 crore in FY25. EBITDA rose 3.6% to Rs 43.4 crore, while EBITDA margin stood at 15.6% compared with 17.5% in FY25.

FY26 profit before tax and exceptional items rose 39.9% YoY to Rs 34.7 crore. However, reported profit before tax declined 9.1% to Rs 28.93 crore, while PAT after share of profit/loss from joint ventures fell 9.2% to Rs 28.92 crore.

Management said FY26 margins were impacted by multiple one-off factors, including a 72 basis points impact from US tariffs, a one-time expense of Rs 5.78 crore related to labour code changes, and higher ESOP expenses of Rs 5.26 crore compared with Rs 2.19 crore in FY25. FY25 also included an exceptional gain of Rs 7.03 crore from property sale, making the base non-comparable.

The company recorded a tax benefit of Rs 1.3 crore in Q4 FY26 related to the one-time gratuity provision recognised in Q3 FY26 following labour code changes.

Net cash flow used in operating activities stood at Rs 4.99 crore in FY26 compared with net cash generated from operating activities of Rs 43.83 crore in FY25, mainly due to higher working capital deployment.

Commenting on the performance, Rajesh Khakhar, chairperson and whole-time director of Laxmi Dental, said the company delivered its strongest-ever quarterly performance despite geopolitical uncertainties and higher US tariffs. He added that digital penetration in the Indian dental business stood at around 80%.

Managing director and CEO Sameer Merchant said the dental laboratory business reported its highest-ever quarterly performance with 27% YoY growth, supported by recovery in domestic operations and record international revenue. The aligner solutions business reported revenue of Rs 18 crore during the quarter, while Bizdent, the clear aligner business, recorded 11% YoY growth.

Laxmi Dental is an integrated dental products company engaged in manufacturing custom-made crowns and bridges, clear aligners, thermoforming sheets and other dental products with operations across India and exports to over 95 countries.

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Net profit of Laxmi Dental rose 135.51% to Rs 10.08 crore in the quarter ended March 2026 as against Rs 4.28 crore during the previous quarter ended March 2025. Sales rose 19.46% to Rs 72.18 crore in the quarter ended March 2026 as against Rs 60.42 crore during the previous quarter ended March 2025.

For the full year,net profit declined 8.78% to Rs 28.98 crore in the year ended March 2026 as against Rs 31.77 crore during the previous year ended March 2025. Sales rose 14.77% to Rs 271.50 crore in the year ended March 2026 as against Rs 236.56 crore during the previous year ended March 2025.

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Laxmi Dental will hold a meeting of the Board of Directors of the Company on 21 May 2026.

However, total income jumped 9.43% to Rs 68.11 crore in Q3 FY26 as against Rs 62.24 crore in Q3 FY25.

The company posted pre loss tax of Rs 1.28 crore in Q3 FY26 as against profit before tax of Rs 4.71 crore in Q3 FY25.

EBITDA fell by 27.47% to Rs 6.97 crore in Q3 FY26, compared with Rs 9.61 crore recorded in the similar quarter last year. EBITDA Margin redcuced to 10.6% in Q3 FY26 as against 15.6% in Q3 FY25.

Based on the requirements of the new labour codes, the company recorded an incremental impact of Rs 5.8 crore as an exceptional item for the quarter.

Rajesh Khakhar, Chairperson and whole-time director (WTD) said, ?In Q3FY26, the company delivered revenues of Rs 660 Mn as against Rs 61.7 cr in same period last year, recording a YoY growth of 7%. The performance is despite global macroeconomic and geopolitical challenges, underscoring the strength and resilience of our diversified portfolio. Gross profit margins witnessed minor improvement sequentially due to steady profitability in the laboratory and aligner business alongside a relatively lower contribution of scanner sales, which are low margin in nature.

Scanner sales hold strategic importance for future growth across segments. During Q3, we had a full quarter impact of 150 bps on account of higher US tariffs. Additionally, we recorded a one-time exceptional provision of Rs 58 Mn towards gratuity past service liability under the new labour code. With US tariff normalization, positive development of EU FTA, multiple ongoing strategic initiatives, and consolidation in the domestic dental market, Laxmi Dental is well positioned to deliver resilient, industry-leading growth along with improved profitability going ahead.?

Sameer Merchant, Managing Director and CEO, said, ?For Q3FY26, our Dental Lab business recorded a healthy YoY growth of 10.4%, with the international business delivering robust 25.5% YoY growth, while the domestic lab remained soft. During the quarter, we implemented innovative strategies, which have started showing positive results in January 2026. Within the Aligner Solutions business, competitive pricing pressures on Bizdent are normalizing in Q4FY26, and we anticipate the situation to remain favorable throughout the quarter.

With these new strategic initiatives, we are witnessing a strong recovery in our domestic Dental Lab and Bizdent businesses, and we expect both segments to deliver robust YoY performance in Q4FY26. On the back of these positive trends, we aim to close FY26 with a healthy exit quarter and begin FY27 on a stronger footing. Over the long term, we remain committed to promoting digital dentistry and leading this transformation across the Indian dental industry, leveraging our scanner solutions.?

Laxmi Dental is an integrated dental products company offering a comprehensive portfolio of Dental Products.

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