Laxmi Dental Q1FY27: consol PAT +24% YoY to ₹10.3 Cr on margin expansion
PAT +23.8% YoY · revenue +13.9% · margins expanding
₹74.7 Cr
+13.9% YoY
₹10.32 Cr
+23.8% YoY
13.4%
+1pp YoY
₹1.87
Laxmi Dental's consolidated Q1FY27 revenue hit a record ₹74.70 Cr, up 13.9% YoY and 1.0% QoQ, while consolidated PAT (including JV share) rose faster at ₹10.32 Cr, up 23.8% YoY and 2.2% QoQ; basic EPS was ₹1.87 versus ₹1.53 a year ago. No exceptional items hit either the current or year-ago quarter.
Q1 FY-2027 vs prior quarters
The profit outperformance came from margin expansion: EBITDA-level margin (segment result/revenue) rose to 19.2% from 18.2% YoY, and net margin to 13.4% from 12.4% YoY. The driver was a segment mix shift — Aligners revenue grew 29.1% YoY to ₹24.17 Cr with its segment result up ~187% to ₹6.53 Cr (margin near 27%, roughly doubled from a year ago), while the larger Laboratory business, though still growing revenue 12.8% YoY to ₹50.28 Cr, saw its segment result fall 24.2% YoY to ₹7.70 Cr. Overall margin expansion this quarter therefore masks softness on the lab side.
The stock went into the print at ₹210.76, down 5.7% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 6-quarter high.
Management expressed strong confidence in continued growth, targeting a trajectory similar to past performance, which has seen figures like 16% in a challenging year. While specific CAGR figures were not provided, they indicated an expectation of performing well over the next two to three years. They also indicated ong
— This quarter: met
No quarter-specific analyst estimate for Q1FY27 could be located (only a broader FY26 full-year consensus revenue figure near ₹296 Cr exists), so the print cannot be graded against street numbers this quarter. Against management's own May-2026 concall commentary — a past growth benchmark of "16% in a challenging year" and long-term margin targets of EBITDA 18-20%, gross 75-80% and PAT 13-15% with no committed timeline — margins are already tracking within those bands while the 13.9% YoY revenue growth trails the cited 16% reference, a mixed read. Standalone PAT was ₹6.17 Cr against the consolidated ₹10.32 Cr, with subsidiaries and JV shares making up the difference. The same board meeting also noted a Letter of Intent to acquire land at Palghar for ₹6.21 Cr (₹51 Lakh advance paid) toward factory expansion and approved allotment of 59,360 ESOP shares; IPO proceeds utilisation stood at ₹77.97 Cr of the ₹128.17 Cr raised, with ₹50.20 Cr still parked in fixed deposits pending an extension for deployment.
W1
Laboratory segment margin: result fell 24.2% YoY to ₹7.70 Cr despite 12.8% revenue growth — watch for recovery next quarter
W2
Aligners momentum: revenue +29.1% YoY to ₹24.17 Cr with margin near 27% — watch if this pace and mix shift sustains
W3
IPO proceeds deployment: ₹50.20 Cr still unutilised pending extension approval, against the newly noted ₹6.21 Cr Palghar land LOI
Converted from INR millions (÷10). Consolidated/standalone PAT is 'Profit for the period' (incl. ₹0.77 Cr / ₹0.89 Cr share of JV profit), which is why it exceeds PBT−tax; consolidated figure is also pre-NCI (owners' share ₹10.30 Cr of ₹10.32 Cr). No exceptional items in current or year-ago quarter — the ₹5.78 Cr New Labour Code provision hit only the FY26 full year — so no adjusted-PAT variant is needed. No quarter-specific street estimate found.