About Company

• The Company was incorporated as ‘Laxmi Dental Export Pvt. Ltd’ on July 8, 2004, at Mumbai, Maharashtra. The name was changed to ‘Laxmi Dental Pvt. Ltd’, on 18 June 2024. Subsequently, on conversion to public limited company the name was changed to ‘Laxmi Dental Limited’, on August 02, 2024.
• Laxmi Dental is an end-to-end integrated dental products company with comprehensive portfolio including custom-made crowns and bridges, branded dental products such as aligner solutions including clear aligners, thermoforming sheets, aligner-related products, and paediatric dental products.
• The company is amongst the Top 2 largest Indian dental laboratories based on revenue for FY2024. The company is the largest and most profitable vertically integrated indigenous B2B2C dental aligner solutions company, based on the products offered and revenue from operations and PAT Margin for FY 2023.
• The company has a presence of 20 years in the dental laboratories business with a reach of over 22,000 dental clinics, dental companies and dentists between FY 2022 to September 30, 2024.
• The company has 6 manufacturing facilities, 3 of which are in Mira Road, MMR, 2 in Boisar, MMR, Maharashtra and 1 in Kochi, Kerala, and further 5 supporting facilities 2 of which are in Mumbai, and 1 each in Delhi, Bengaluru, and Ahmedabad with manufacturing capabilities.
• The company’s facilities in Boisar follow the quality system regulations enforced by the US FDA and the manufacturing facilities in Mira Road and Boisar have received certifications for ISO 13485:2016 compliance, an internationally recognized standard for medical device quality.
• The company launched clear aligners under the brand Illusion Aligners which is the first Indian brand to receive 510(k) clearance from US FDA in 2021 to market clear aligners. Further, it is the is the only aligner company in India which is fully vertically integrated having end-to-end capabilities from raw material to distribution, enabling significant control on the supply chain.
• The company’s revenues from operations have grown from ? 136.84 Cr in FY2022 to ? 193.56 Cr in FY2024, while the Adjusted EBITDA margins improved from 3.85% in FY2022 to 16.88% in FY2024. The Company reported a Net Profit in FY2024 of ? 25.23 Cr as compared to Net Loss of ? 18.68 Cr in FY2022.

Strengths

Competitive Strength 

• The only integrated dental products company in India, well-positioned to capture industry tailwinds
• Second largest player in domestic laboratory business and largest export laboratory with increasing adoption of digital dentistry
• Vertically integrated diverse branded product portfolio
• Large Dental Network providing the company with competitive advantage in the market
• Robust technologically advanced capabilities with stringent regulatory compliance ensuring high quality standards.

• Experienced management team with significant industry experience

 Business Strategies 

• Deepen the penetration amongst existing Dental Network while also expanding the Dental Network
• Continuing to scale up the branded product offerings
• Undertake product enhancements of existing dental products and launch new dental products
• Enhance manufacturing capacities with increasing focus on automation and adoption of new technologies
• Continue to follow a multi-channel approach in marketing

Company Promoters

Company Financials

Laxmi Dental Limited Financial Information (Restated Consolidated)

Objects of the Issue

Objects of the Fresh Issue Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company.
2. Investment in certain Subsidiaries for the repayment/prepayment, in full or in part, of certain outstanding borrowings.
3. Funding the capital expenditure requirements for purchasing new machinery for the Company.
4. Investment in our subsidiary, Bizdent Devices Private Limited, is needed for the capital expenditure requirements for the purchase of new machinery.
5. General corporate purposes.