January 12, 2025
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Laxmi Dental IPO Review * by Paresh Gordhandas, CA & Research Analyst.
Laxmi Dental Limited, established in July 2004, is an integrated provider of dental products. The company offers a wide range of products, including custom crowns and bridges, clear aligners, thermoforming sheets, pediatric dental items, and aligner-related solutions.
Under the brand name Taglus, Laxmi Dental also provides thermoforming sheets, biocompatible 3D printing resins, and machinery for manufacturing clear aligners.
Operating on a fully integrated model, Laxmi Dental manages the entire process from product design and manufacturing to distribution.
As of September 30, 2024, the company operates six manufacturing facilities: three in Mira Road (Mumbai), two in Boisar, and one in Kochi, along with five supporting facilities in Mumbai, Delhi, Bengaluru, and Ahmedabad.
The company’s dental network spans over 22,000 clinics and dentists across more than 320 cities in India. Additionally, Laxmi Dental has a strong international presence, exporting to over 90 countries.
As of September 30, 2024, the company employed 2,372 individuals across various departments.
Recently the company has tied up with US based company which operates more than 1650 dental clinics across the USA. This tie-up can bring huge business for the company in the coming years.
During last 3 years, the company has shown strong growth in its topline. In the years, 2021-22 & 2022-23, it incurred net losses mainly due to depreciation-costs and in the year 2023-24, it has turned corner and earned positive returns and EPS of Rs. 5.11. In the first 6 months of the current year, the company has earned EPS of Rs. 5.11 which suggests impressive results for the full year. The shares are expected to bring in good listing gains as well as long term returns.
*Offer price Rs. 428, Current GMP Rs. 160 (GMP to offer price ratio 37%)
+ from fundamental angle: Apply
+ from grey market angle: Apply
Laxmi Dental IPO Review
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