Latest news with #LaxmiDental
Economic Times
14-07-2025
- Business
- Economic Times
Motilal Oswal initiates coverage on Laxmi Dental with Rs 540 target; stock zooms 10%
Considering the supportive industry trend, domestic brokerage firm Motilal Oswal has initiated coverage on Laxmi Dental, with a 'buy' rating and a target price of Rs 540 for the stock, an upside potential of 26% from its previous closing. ADVERTISEMENT This was followed by a 9.6% surge in the shares of Laxmi Dental, taking the price to its day's high of Rs 469 on the BSE. 'Considering the supportive industry trend and Laxmiden's potential for sustained growth, we assign a 43x 12M forward earnings multiple to arrive at our TP of Rs 540,' said Motilal Oswal in its note, highlighting that the company has no direct competitors in the listed space. The note stated that the company's select focus on therapies, a customized and scalable business model, and strong growth momentum have led the brokerage firm to assign a similar multiple to Laxmi Dental. Laxmi Dental is the second-largest player in India's domestic lab segment, serving over 22,000 dental clinics and dentists across 320 cities. It exports to more than 90 countries and operates the largest export lab business. Industry growth is supported by rising digital dentistry adoption, a shift to premium metal-free products, and growing outsourcing of US lab work to is also a preferred partner for Heartland, one of the largest US-based Dental Service Organizations (DSOs), and was among the first to launch branded zirconia crowns under the 'Illusion Zirconia' brand. ADVERTISEMENT The company is also a leading importer of IOS scanners in India, with over 600 devices deployed under the iScanPro brand. Its legacy lab business, which contributes 62% of total sales, grew at a 15% CAGR to reach Rs 1,500 crore between FY22 and FY25. Domestic lab sales grew at 13% CAGR to Rs 871 crore in FY25, while its international labs business reported 17% CAGR growth, reaching Rs 607 Laxmiden's labs business is projected to grow at 21% CAGR over FY25–27, reaching Rs 2,200 crore. ADVERTISEMENT Also read: Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow accountFurther, the global clear aligner market is projected to grow at a 15% CAGR to reach USD 55 billion by 2030. Laxmiden, the only fully integrated aligner player in India, manufactures and sells customized aligners via its Bizdent (B2C) and Vedia (B2B) units. Its 'Illusion Aligners' brand was the first Indian brand to secure US FDA 510(k) clearance in CY21. The company expects its aligner business to grow at a 33% CAGR over FY25–27, reaching ₹1,400 crore in revenue by FY27. ADVERTISEMENT The global pediatric crown market is expected to grow at a 7.5% CAGR, reaching USD 3.5 billion by 2030. Laxmiden, the only Indian manufacturer of Silver Diamine Fluoride (SDF), cleared by USFDA, also markets its BiofixTM crowns in India. The pediatric segment is expected to deliver 31% CAGR over FY25–27, with revenue reaching ₹449 crore and a projected PAT of ₹95 crore in healthcare services sector is evolving, with business models focusing on specific therapies and subsequently creating a comprehensive ecosystem. The customized service aspect not only adds value for patients but also benefits companies, establishing a strong competitive advantage for sustainable growth. ADVERTISEMENT Laxmi Dental has developed a comprehensive framework to bridge the gap in dentistry, effectively addressing the needs of patients across all age groups while enhancing the efficiency of dental practitioners. The adoption of technology has resulted in improved prospects in the international market. By utilizing celebrity brand endorsements as part of its marketing strategy, the company has also expanded its offerings in the aligner commenting on the risks, the brokerage firm noted that Laxmi Dental's growth may be impacted by delays in receiving approvals to launch or register products in international markets. Slower industry-wide adoption of new technologies could weaken its competitive a slower expansion of dentist coverage could limit growth in its domestic lab business and the emergence of alternative dental solutions replacing crowns or bridges may reduce overall demand and affect business prospects. Also read: Ola Electric Q1 Results: Net loss widens 23% YoY to Rs 428 crore, revenue drops 50% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
14-07-2025
- Business
- Time of India
Motilal Oswal initiates coverage on Laxmi Dental with Rs 540 target; stock zooms 10%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Considering the supportive industry trend, domestic brokerage firm Motilal Oswal has initiated coverage on Laxmi Dental , with a 'buy' rating and a target price of Rs 540 for the stock, an upside potential of 26% from its previous was followed by a 9.6% surge in the shares of Laxmi Dental, taking the price to its day's high of Rs 469 on the BSE.'Considering the supportive industry trend and Laxmiden's potential for sustained growth, we assign a 43x 12M forward earnings multiple to arrive at our TP of Rs 540,' said Motilal Oswal in its note, highlighting that the company has no direct competitors in the listed note stated that the company's select focus on therapies, a customized and scalable business model, and strong growth momentum have led the brokerage firm to assign a similar multiple to Laxmi Dental is the second-largest player in India's domestic lab segment, serving over 22,000 dental clinics and dentists across 320 cities. It exports to more than 90 countries and operates the largest export lab business. Industry growth is supported by rising digital dentistry adoption, a shift to premium metal-free products, and growing outsourcing of US lab work to is also a preferred partner for Heartland, one of the largest US-based Dental Service Organizations (DSOs), and was among the first to launch branded zirconia crowns under the 'Illusion Zirconia' company is also a leading importer of IOS scanners in India, with over 600 devices deployed under the iScanPro brand. Its legacy lab business, which contributes 62% of total sales, grew at a 15% CAGR to reach Rs 1,500 crore between FY22 and FY25. Domestic lab sales grew at 13% CAGR to Rs 871 crore in FY25, while its international labs business reported 17% CAGR growth, reaching Rs 607 Laxmiden's labs business is projected to grow at 21% CAGR over FY25–27, reaching Rs 2,200 read: Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow account Further, the global clear aligner market is projected to grow at a 15% CAGR to reach USD 55 billion by 2030. Laxmiden, the only fully integrated aligner player in India, manufactures and sells customized aligners via its Bizdent (B2C) and Vedia (B2B) units. Its 'Illusion Aligners' brand was the first Indian brand to secure US FDA 510(k) clearance in CY21. The company expects its aligner business to grow at a 33% CAGR over FY25–27, reaching ₹1,400 crore in revenue by global pediatric crown market is expected to grow at a 7.5% CAGR, reaching USD 3.5 billion by 2030. Laxmiden, the only Indian manufacturer of Silver Diamine Fluoride (SDF), cleared by USFDA, also markets its BiofixTM crowns in India. The pediatric segment is expected to deliver 31% CAGR over FY25–27, with revenue reaching ₹449 crore and a projected PAT of ₹95 crore in healthcare services sector is evolving, with business models focusing on specific therapies and subsequently creating a comprehensive ecosystem. The customized service aspect not only adds value for patients but also benefits companies, establishing a strong competitive advantage for sustainable Dental has developed a comprehensive framework to bridge the gap in dentistry, effectively addressing the needs of patients across all age groups while enhancing the efficiency of dental adoption of technology has resulted in improved prospects in the international market. By utilizing celebrity brand endorsements as part of its marketing strategy, the company has also expanded its offerings in the aligner commenting on the risks, the brokerage firm noted that Laxmi Dental's growth may be impacted by delays in receiving approvals to launch or register products in international markets. Slower industry-wide adoption of new technologies could weaken its competitive a slower expansion of dentist coverage could limit growth in its domestic lab business and the emergence of alternative dental solutions replacing crowns or bridges may reduce overall demand and affect business read: Ola Electric Q1 Results: Net loss widens 23% YoY to Rs 428 crore, revenue drops 50% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Business Standard
14-07-2025
- Business
- Business Standard
Laxmi Dental share price rises 3%; Motilal Oswal initiates 'Buy'; check TP
Laxmi Dental share price rose 3.2 per cent in trade on Monday, logging an intraday high at ₹441.6 per share on BSE. At 9:27 AM, Laxmi Dental shares were trading higher by 2.2 per cent at ₹437.2 per share on the BSE. In comparison, the BSE Sensex was down 0.16 per cent at 82,369.42. The company's market capitalisation stood at ₹2,372.72 crore. The 52-week high of the stock was at ₹583.7 per share and the 52-week low of the stock was at ₹307.55 per share. Motilal Oswal initiates 'Buy' From the previous close at ₹427.8 per share, domestic brokerage Motilal Oswal sees a 26 per cent upside. The brokerage has initiated a 'Buy' and setting the target price at ₹540 per share. The brokerage cites supportive industry trends and the company's strong potential for sustained growth, assigning a 43x 12-month forward earnings multiple. Why is Motilal Oswal upbeat on Laxmi Dental? Over FY22–25, Laxmi Dental's revenue grew from ₹140 crore to ₹240 crore, while Earnings before interest, tax, depreciation and amortisation (Ebitda) margins expanded from 4 per cent to 17.5 per cent. Net profit for FY25 stood at ₹262 crore, recovering from a loss in FY22. Motilal Oswal projects a 24 per cent revenue compound annual growth rate (CAGR), 48 per cent Ebitda CAGR, and 62 per cent profit after tax (PAT) CAGR over FY25–27, driven by strong traction across its three core verticals—custom labs, clear aligners, and pediatric dental products. Track Stock Market LIVE Updates Segment-wise growth Lab business: The lab segment contributes 62 per cent of the company's total revenue. Motilal expects this vertical to grow at a 21 per cent CAGR through FY27, driven by rising adoption of digital dentistry, a shift towards premium metal-free crowns, and outsourcing by US-based dental labs to India. Clear aligners: Laxmi Dental is the only aligner company in India that is fully vertically integrated, having end-to-end capabilities from raw material to distribution. Further, the company's launch of clear aligners under the brand 'Illusion Aligners', was the first Indian brand to receive 510(k) clearance from the United States Food and Drugs Administration (US FDA) in CY21 to market clear aligners. This segment is forecasted to grow at a 33 per cent CAGR, reaching ₹140 crore in revenue by FY27. Pediatric dental products: Motilal Oswal projects this niche segment to grow a 31 per cent CAGR, reaching ₹44.9 crore by FY27. As Laxmi Dental is India's only manufacturer of US FDA-cleared Silver Diamine Fluoride (SDF) and developer of the patented Bioflx zirconia crowns, the company is expected to benefit from the segment growth. Laxmi Dental listing The stock listed on bourses on January 20, 2025. On the National Stock Exchange (NSE), Laxmi Dental IPO listing price was ₹542 per share, reflecting a listing gain of 26.6 per cent or ₹114, as against the issue price of ₹428. Similarly, on the BSE, Laxmi Dental shares listed at ₹528 apiece, commanding a premium of 23.3 per cent or ₹100, as compared to its initial public offering (IPO) issue price.
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Business Standard
27-06-2025
- Business
- Business Standard
IPOs in H1 2025 were priced to perfection; be selective now, say analysts
Indian primary markets have posted tepid performance in the first half of calendar year 2025 (H1CY25). Of the 19 stocks that debuted on the stock exchanges in H1, as many as 10, or 53 per cent, are trading below their listing price now, according to data compiled by Business Standard. Notably, so far in 2025, 19 companies have gone public from the mainline segment, raising ₹29,834 crore. Of these, stocks of 10—including Stallion India Fluorochemicals, Indo Farm Equipment, Laxmi Dental, Denta Water and Infra Solution, Borana Weaves, Ather Energy, Standard Glass Lining Technology, Schloss Bangalore, Belrise Industries, and Arisinfra Solutions—are trading below their listing price. Further, barring Laxmi Dental, Borana Weaves, and Standard Glass Lining Technology, the rest are also trading below their issue price. According to data, 82 companies in the SME segment have debuted on the exchanges so far this year, raising ₹3,645 crore. Of these, 46 are trading below their listing price, and 45 are below their issue price. H1 2025 Primary Market Performance Total Mainboard IPOs 19 Total amount raised ₹29,834 crore Trading below listing price 10/19 Trading below issue price 7/19 Total SME IPOs 82 Total amount raised ₹3,645.3 crore Trading below listing price 46/82 Trading below issue price 45/82 Source: Bloomberg Priced to perfection Sunny Agrawal, head of fundamental equity research at SBICap Securities said a consistent trend that stood out in H1 was the fact that most IPOs were priced to perfection, leaving very little on the table for new investors. This has resulted in muted listings across several recent IPOs. Echoing similar views, Prashanth Tapse, senior VP (Research) at Mehta Equities, said that many offerings lacked strong revenue or profit growth visibility. 'Once listed, such companies face pressure to deliver results in line with expectations—but post-IPO earnings have often disappointed, leading to steep corrections. The market, being increasingly valuation-conscious, is quick to penalise underperformance, triggering sell-offs,' said Tapse. Geopolitical developments amid tariff woes that troubled the secondary markets in H1 were another cause of primary markets' tepid show in H1. 'Volatility spooked investors, especially retail participants, leading them to exit IPO stocks quickly—even with modest listing gains. As a result, sustainable post-listing rallies have been rare, with many investors preferring safety over potential upside,' Tapse added. Primary market outlook H2CY25 Analysts, while expecting the primary market to witness the rollout of a healthy number of IPOs, remain divided on their performance in the second half of the calendar year. "We have already seen robust investor interest across both primary offerings and secondary market block or bulk deals. There's ample liquidity and merchant bankers and promoters are likely to capitalise on the current environment," said Agrawal. Tapse, on the other hand, recommends a disciplined, cautious approach with a long-term mindset for IPO investors in 2025. After the underperformance of many H1 listings, he said, investor appetite has become more selective. 'H2CY25 is expected to remain active, but more selective and valuation-conscious compared to the frenzied activity seen in previous years,' he added.
Business Standard
27-05-2025
- Business
- Business Standard
Laxmi Dental consolidated net profit declines 43.01% in the March 2025 quarter
Sales rise 10.72% to Rs 60.42 crore Net profit of Laxmi Dental declined 43.01% to Rs 4.28 crore in the quarter ended March 2025 as against Rs 7.51 crore during the previous quarter ended March 2024. Sales rose 10.72% to Rs 60.42 crore in the quarter ended March 2025 as against Rs 54.57 crore during the previous quarter ended March 2024. For the full year,net profit rose 28.21% to Rs 31.77 crore in the year ended March 2025 as against Rs 24.78 crore during the previous year ended March 2024. Sales rose 23.56% to Rs 236.56 crore in the year ended March 2025 as against Rs 191.45 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 60.4254.57 11 236.56191.45 24 OPM % 15.7721.42 - 17.7012.43 - PBDT 9.9010.59 -7 39.8220.55 94 PBT 5.607.34 -24 24.808.61 188 NP 4.287.51 -43 31.7724.78 28
