Laxmi Dental Q2 revenue hits Rs 79.52 crore, margin at 19.2%

Laxmi Dental Limited reported record Q2FY27 revenue from operations of Rs 79.52 crore, up 10.0% year on year, and lifted reported EBITDA margin by 390 basis points to 19.2% from 15.3%. The unaudited consolidated results, announced on November 3, 2026, reflected growth in dental laboratory and aligner businesses despite lower scanner sales.

How did Laxmi Dental perform in Q2FY27?

Laxmi Dental reported Q2FY27 revenue from operations of Rs 79.52 crore, compared with Rs 72.27 crore in Q2FY26 and Rs 74.70 crore in Q1FY27. This represented 10.0% year-on-year growth and 6.5% quarter-on-quarter growth, while management described both revenue and reported EBITDA as the company’s highest quarterly levels.

Reported EBITDA, or earnings before interest, tax, depreciation and amortisation, rose 38.5% year on year to Rs 15.27 crore from Rs 11.02 crore. It also increased 6.3% from Rs 14.36 crore in Q1FY27. Profit after tax, after the share of profit or loss from joint ventures, was Rs 10.04 crore, up 17.6% from Rs 8.53 crore a year earlier but 2.7% below Rs 10.32 crore in the preceding quarter.

The first-half comparison was also higher. H1FY27 revenue reached Rs 154.22 crore, an 11.9% increase from Rs 137.86 crore in H1FY26, while reported EBITDA rose 29.2% to Rs 29.63 crore from Rs 22.93 crore. H1FY27 profit after tax after joint ventures increased 20.7% to Rs 20.35 crore from Rs 16.86 crore.

Why did Laxmi Dental's EBITDA margin increase?

Laxmi Dental’s reported EBITDA margin increased to 19.2% in Q2FY27 from 15.3% in Q2FY26, a 390-basis-point improvement, and was unchanged from Q1FY27. The company said overall gross margin improved to 76.9% because of a change in product mix, while gross margins in dental laboratory and aligner solutions remained stable.

Other expenses declined sequentially but rose year on year because of higher business-promotion spending, freight costs and spending on artificial-intelligence-led automation. Employee expenses increased with annual increments and additions in domestic sales, operations and the United States business. These cost movements occurred alongside the 10.0% rise in quarterly revenue to Rs 79.52 crore.

Reported EBITDA differs from adjusted EBITDA because the adjusted measure adds back non-cash employee stock option plan, or ESOP, expense and includes specified shares of joint-venture profits. Adjusted EBITDA was Rs 16.01 crore in Q2FY27, up 17.1% from Rs 13.67 crore in Q2FY26 and marginally above Rs 15.96 crore in Q1FY27. ESOP expense was Rs 21 lakh, compared with Rs 1.68 crore a year earlier, including an approximately Rs 60 lakh reversal for employees who left or surrendered options.

Which businesses drove Laxmi Dental's quarterly growth?

Laxmi Dental said its dental laboratory business grew 22.7% year on year in Q2FY27, led by 32.0% growth in international operations and 15.0% growth in domestic operations. Management said growth was broad-based across dental laboratory and aligner solutions, even as scanner sales were lower than in the prior-year quarter.

Aligner Solutions grew 23.5% year on year, with Bizdent up 27.7% and Vedia up 19.1%, according to management. The paediatric joint venture Kids-e-Dental grew 16.7%. Revenue reported under Indian Accounting Standards, or Ind AS, excludes revenue from Kids-e-Dental and IDBG AI Dent because they are jointly controlled entities.

Scanner sales were Rs 3.50 crore in Q2FY27, down from Rs 8.90 crore in Q2FY26. Management attributed the muted sales to inflated prices for high-end laptops and said it continued to evaluate its scanner roadmap in line with market conditions. Record reported quarterly revenue was therefore achieved despite a Rs 5.40 crore decline in scanner contribution from the comparable period.

What expansion plans has Laxmi Dental disclosed?

Laxmi Dental said shareholders approved changes to the use of initial public offering proceeds during Q2FY27, allowing Rs 48.10 crore of unutilised proceeds to be redeployed. Of that amount, Rs 26.90 crore is intended for land and building for a company-owned integrated dental laboratory and aligner facility, which management said is expected to support efficiency, cost control and scalability.

Management said the transition to the proposed facility would occur in phases to maintain service continuity without material impact. The release did not provide a completion date, construction schedule or production-capacity target for the facility. The disclosed plan identifies the intended capital use but not a timetable for the operating outcome.

Laxmi Dental also plans to deploy scanners under a subscription model as part of its digitalisation strategy. Management said the model is intended to reduce dentists’ upfront adoption costs, improve affordability, increase customer stickiness and generate incremental business. In India, management said it is seeking greater wallet share among existing dentists and new dental partners through its hub-and-spoke strategy and digitalisation.

What does Laxmi Dental expect to support overseas growth?

Laxmi Dental said strengthened on-ground leadership in the United States, participation at the upcoming International Dental Show, or IDS, and the India-European Union Free Trade Agreement concluded earlier in 2026 are expected by management to support global expansion. The release did not quantify expected overseas revenue, orders or a financial contribution from these developments.

Laxmi Dental said it is investing in AI-led automation to make operations faster, more consistent and efficient as it grows. Its portfolio includes custom-made crowns and bridges, clear aligners, thermoforming sheets, aligner-related products and paediatric dental products. The company profile stated that it manufactures at six facilities and has eight supporting facilities, while international dental laboratory operations grew 32.0% in Q2FY27.

Conclusion

Laxmi Dental combined a 10.0% increase in Q2FY27 revenue to Rs 79.52 crore with a 38.5% rise in reported EBITDA to Rs 15.27 crore. The resulting 19.2% reported EBITDA margin was 390 basis points above Q2FY26 and matched Q1FY27, while dental laboratory, Aligner Solutions and paediatric businesses each recorded year-on-year growth.

Next, investors can watch scanner sales after Q2FY27 contribution fell to Rs 3.50 crore, progress on the planned subscription scanner model, and execution of the Rs 26.90 crore facility allocation. Management also identified US leadership, the upcoming IDS participation and the India-European Union Free Trade Agreement as factors it expects to support international expansion.