OUR BUSINESS
Our Company was Incorporated on July 8, 2004 We are India’s only end-to-end integrated dental products company as at March 31, 2024, offering a comprehensive portfolio of dental Products .
- Metal Free Restorations
- PFM
- Implant prosthetics
- Removables
- Aligners
- Miscellneous
branded dental products such as clear aligners, thermoforming sheets and aligner related products as a part of aligner solutions, and paediatric dental products.
We have a brand presence of more than 20 years we are amongst the top two largest dental laboratories in India based on revenue for the Fiscal 2023.
We are a vertically integrated dental aligner company, and the largest and most profitable indigenous B2B2C dental aligner company.
We manufacture our dental products across our six manufacturing facilities spread across 146,804.42 square feet.
The Indian dental laboratories market is characterised by the presence of fragmented and unorganized dental laboratories with less than ten technicians and a dearth of quality management standard compliant dental products.
Changing regulatory requirements in the medical devices sector is expected to transition the fragmented and unorganized dental products and consumables market to organized and consolidated market dominated by companies focusing on quality, operational efficiency, and consumer experience.
We are amongst the top two largest dental laboratories in India catering to domestic markets and international markets including USA, UK and Europe.
we are the largest exporter in terms of export revenue for the Fiscal 2023, for custom made dental prosthesis, catering primarily to US and UK.
We are the preferred partner for one of the largest DSO in the USA with more than 1,650 clinics in the USA .
Having evolved from a dental laboratory with a few members to an integrated dental products company, we now have a presence of 20 years in the dental laboratories business with a reach of over 20,000 dental clinics,
dental companies and dentists between Fiscals 2022 to 2024 (“Dental Network”).
our Dental Network has a reach of more than 20,000 dental clinics, dental companies and dentists and we have catered to over 300 cities nationally between Fiscals 2022 to 2024.
Primary dental products offered by our laboratory include custom made dental prosthesis such as metal free crowns and bridges, including our range of branded premium zirconia crowns and bridges “Illusion Zirconia”, porcelain fused to metal (“PFM”) crowns, bridges, and dentures.
Metal-free products contributed to 53.70% of the total revenue from our dental laboratory business catering to the Indian market and to 36.31% of total revenue from our dental laboratory business catering to international markets respectively in Fiscal 2024.
We have launched iScanPro, branded intraoral scanners for digital dentistry.
Dental restoration units prepared using digital impression constituted 48.61%, by volume, of the total units sold by our domestic laboratory business and constituted 55.48%, by volume, of the total units sold by our international laboratory business in Fiscal 2024.
Our facilities in Boisar are in compliance with the quality system regulations enforced by the United States Food and Drug Administration (“US FDA”) and our manufacturing facilities in Mira Road and Boisar have received certifications for ISO 13485:2016 compliance, an internationally recognized standard for medical device quality.
We have a more focussed approach towards capturing the Indian aligner market share and we launched clear aligners under our brand Illusion Aligners which is the first Indian brand to receive 510(k) clearance from US FDA in 2021 to market clear aligners .
We have adopted B2B2C business model for sale of our customised clear aligner solutions while offering a flexible ‘pay as you go’ model along with the upfront payment model, making our aligners more affordable to the end customers.
Adoption of a B2B2C model involves sale of clear aligners through our Dental Network who in turn offer our dental products to end customers, which has helped us grow rapidly owing to our already established Dental Network with reach of over 20,000 dental clinics, dental companies and dentists between Fiscals 2022 to 2024.
We are able to leverage our Dental Network, which has been built through our laboratory business, to scale up our offerings across metropolitan and nonmetropolitan cities in a short span of time. Below table sets forth contribution of customers of our aligner solutions from tier I, tier II, and tier III cities to total customers served for aligners in Fiscals 2024, 2023, and 2022.
We are 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.
We are one of the very few companies in India to manufacture and supply thermoforming sheets, thermoforming machines,
dental consumables, biocompatible resins for 3D printing under our brand ‘Taglus’ tailored for manufacturing of clear aligners.
Our thermoforming machines, thermoforming sheets, and biocompatible resins have also received certificate of conformity under Regulation EU 2017/745.
We entered the paediatric dental market through our Jointly Controlled Entity Kids-E-Dental LLP by acquiring a 60% stake in 2021.
We are one of the leading paediatric dental product brands in India in terms of revenue from operations as of March 31, 2024.
Kids-E-Dental LLP is the only Indian company specialized in paediatric dental products and manufacturing of pre-formed metal free paediatric dental crowns.
We offer a comprehensive range of paediatric products, including pre-formed branded paediatric crowns, Silver Diamide Fluoride (“SDF”), space maintainers, fissure sealant, reinforced splint and mineral trioxide aggregate.
We are the only Indian manufacturer of US FDA approved SDF.
We have been granted a design registration on “Bioflx”, a semi-flexible tooth coloured pre-formed dental crown for children in India. Further, we have partnered with a leading paediatric dental company for distribution of Bioflx crowns manufactured by us globally across 81 countries.
OBJECTS OF ISSUE
1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by our 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 purchase of new machinery for our Company.
4. Investment in our Subsidiary, Bizdent Devices Private Limited, for the capital expenditure requirements for the purchase of new machinery.
5. General corporate purposes.
Qualitative Factors
- 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 us 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.
Laxmi Dental Comparison of Accounting Ratios with Peer Group Companies
- Poly Medicure Limited.
