Prevest DenPro Ltd Q2 FY26 – Whitening Profits and Polishing Margins Like a True Dental Ninja

1. At a Glance

MeetPrevest DenPro Ltd (PDL)— the Jammu-based dental material wizard that’s giving global smiles a Made-in-India glow. At ₹450 a share and amarket cap of ₹540 crore, this tooth fairy doesn’t sprinkle dust — it manufactures over100 dental and hygiene productsthat quite literally fill cavities across 80+ countries.

For theSeptember 2025 quarter, the company clocked₹18.66 crore in revenueand₹5.57 crore PAT, showing a respectable14.8% sales growth YoYand15.1% profit growth YoY. Operating margins remain glossy at35.9%, which would make even FMCG veterans jealous.

Withzero debt, aROCE of 25.2%,ROE of 18.7%, and aP/E of 27.1, the company looks like that one topper who doesn’t brag but still steals your placement. The latest half-year results screamed confidence too —H1 FY26 revenue ₹34.4 crore, PAT ₹9.95 crore, and exports up 24% YoY. And management is already smiling for the camera, claiming they’re gunning for₹100 crore revenue in the next 3 years.

A smallcap with big teeth. Let’s drill down.

2. Introduction

Imagine if your dentist said, “Open wide — this filling was made in Jammu.” You’d probably blink twice. But that’s exactly the global play of Prevest DenPro — a company that’s quietly turnedIndian dental innovation into a global export success.

While others sell cement, Prevest sells “dental cement.” While others talk infrastructure, these guys build the infrastructure of your molars. Founded in 2000 byDr. Atul Modi, the company was born at a time when Indian dentists were importing everything — from polishers to bleaching gels. Two decades later, Prevest is exporting to80+ countriesand boastingUSFDA approval for 20+ products.

From3D printing resinsfor crowns and bridges tohygiene productsthat battle bacteria like they’re in a Bollywood action scene, Prevest is positioning itself as India’s dental-tech poster child. The company’s operational fortress inSamba, Jammu, is where 200 metric tonnes of dental material magic happens annually.

And in case you thought it’s just teeth and talk, theirR&D center, built at a cost of ₹14 crore and recognized by theMinistry of Science, is a serious crown jewel — pun intended. Prevest DenPro is now biting into new verticals like oral hygiene and biomaterials.

Who knew molars could mint millions?

3. Business Model – WTF Do They Even Do?

Prevest DenPro’s business model is simple —make things that make your dentist rich.

They develop and manufacturedental materials and equipmentused in everything fromfillings to root canals, fromorthodontics to 3D printed prosthetics. With a catalog spanning over 100 SKUs, their products fall into three big buckets:

  1. Clinical Products– The everyday heroes of dentistry. Adhesives, cements, liners, composites, whitening gels — basically, the ingredients your dentist uses to make you say “aah.”
  2. Laboratory Products– Think of this as the backstage area. Acrylics, waxes, and gypsum products that support prosthetics, dentures, and crowns.
  3. Hygiene & Disinfectant Products– Post-COVID, the company diversified into sanitizers, surface disinfectants, and oral hygiene. Essentially, making sure bacteria have nowhere to hide.

They sell through90+ overseas agents and 55+ domestic dealers, never directly to dentists — because even molars deserve middlemen. Their distribution is bothB2B and online, via portals likeprevestdirect.com,GeM, and evenAmazon.

The secret sauce? Exports. A stunning68% of FY23 revenue came from Asia, followed byAfrica (15%),Europe (9%), andSouth America (6%). With USFDA and MDSAP certifications, they’re now eyeingNorth America— where every root canal costs as much as a semester in an Indian private

college.

4. Financials Overview (Quarterly Results)

Standalone Figures in ₹ crore – Quarterly Data

MetricQ2 FY26 (Sep 2025)Q2 FY25 (Sep 2024)Q1 FY26 (Jun 2025)YoY %QoQ %
Revenue18.6616.2615.7214.8%18.7%
EBITDA6.705.815.5315.3%21.1%
PAT5.574.844.6315.1%20.3%
EPS (₹)4.644.033.8615.1%20.2%

Type of Results:QuarterlyAnnualised EPS:₹4.64 × 4 = ₹18.56P/E (CMP ₹450):24.2

Commentary:Prevest DenPro’s Q2 FY26 performance proves that the company isn’t just flossing its numbers. With steady double-digit growth, a strong 35–36% operating margin, and net profits gleaming brighter than a Colgate ad, the company’s fundamentals are as clean as a polished incisor.

5. Valuation Discussion – Fair Value Range

Let’s get nerdy.

(a) P/E Method

  • Annualised EPS = ₹18.56
  • Industry P/E = 47.3
  • Conservative range: 20x–30x→ Fair Value Range = ₹370 – ₹555

(b) EV/EBITDA Method

  • EV = ₹473 crore
  • EBITDA (FY25 TTM) ≈ ₹24 crore × 4 = ₹96 crore annualized (approx.)
  • EV/EBITDA = 473 / 96 ≈ 4.9xIndustry avg = 15–20x→ Fair Value Range = ₹430 – ₹600

(c) Simplified DCF (Assuming 15% CAGR for 5 years)→ Intrinsic Value ≈ ₹520–₹560

Fair Value Range (Educational Purpose Only): ₹400 – ₹560

Disclaimer: This fair value range is for educational purposes only and is not investment advice.

6. What’s Cooking – News, Triggers, Drama

Oh, the drama! In the last year, Prevest DenPro’s press office has been busier than a Bollywood PR agency.

  • H1 FY26 earnings call:Company confidently said exports grew24% YoYand set a₹100 crore revenue target within 3 years.
  • R&D Center Recognized by Govt (Mar 2024):Their Jammu research hub got recognition from theMinistry of Science, giving serious academic validation to their innovation game.
  • Oradox Launch (2023):The company’s neworal hygiene brand “Oradox”aims to scrub elbows with Colgate and Dabur — a risky but gutsy move.
  • Gold Trophy for Export Excellence (2023):Yes, they literally won gold for sending toothpaste abroad.
  • Investment in
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