Vasa Denticity Ltd.

•

₹ 395.6-1.1%

2026-08-21

dentalkart.comBSE: -NSE: DENTALKART

Market Cap₹ 688 Cr.

Current Price₹ 400

High / Low₹ 636 / 322

Stock P/E59.3

Book Value₹ 72

Price to Book8.67

Dividend Yield0.00 %

ROCE23.9 %

ROE18.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Latest quarter profit grew 51.6% YoY, showing strong momentum
Company comfortably covers its interest (226.8x coverage)
Institutional investors have been accumulating - FII+DII up 3.8pp
Company converts assets efficiently - asset turnover of 2.1x

CONS

Operating cash flow has been negative in recent years
Promoter holding has decreased over last 2 years: -9.4pp
Recent results are weak - TTM profit is down 17.2% versus prior year
Stock is trading at 8.7x its book value
Rich enterprise valuation - EV/EBITDA of 40.0x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ADANIENT	2979.00	54.17	403273.96	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	AEGISLOG	1363.65	38.25	47864.12	0.64	544.84	210.70	2356.86	37.07	19.76	30.28
3.	PREMIERENE	1008.00	27.48	45758.31	0.10	471.92	53.32	2462.59	35.25	41.97	29.03
4.	CPPLUS	3307.45	81.98	39127.28	0.05	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	334.90	15.39	26181.63	1.79	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	476.90	62.48	15548.09	0.63	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	78.59	106.84	11997.17	0.19	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	805.80	81.69	10155.92	0.00	455.80	1310.71	13085.70	1044.08	11.45	4.49
9.	MMTC	62.10	20.82	9315.00	0.00	104.24	135.52	0.68	-50.00	6.90	-1423.53
10.	CELLO	358.45	25.31	7917.62	0.42	73.40	-8.99	526.72	-0.43	17.15	18.80
11.	EBGNG	588.80	47.13	6713.00	0.00	28.93	56.21	412.46	32.08	20.14	11.97
12.	DENTALKART	396.75	59.29	688.11	0.00	40.45	1415.55	831.39	1273.90	23.93	6.09

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	41	37	57	54	59	63	73	61	73	72	73	83
	37	33	49	49	53	57	67	57	67	70	73	79
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	1	0	0	0	1	0	0	1	1	1	2	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	1	0	0	1	1	1
	4	3	8	5	7	5	6	4	6	2	2	5
Tax %	16.74%	29.48%	23.59%	25.60%	24.26%	27.37%	30.77%	27.25%	23.14%	28.72%	21.87%	21.70%
Net Profit	0	0	0	3	5	4	4	3	5	1	1	4
	2	2	4	2	3	2	3	2	3	1	1	0
Equity Capital	16	16	16	16	16	17	17	17	17	17	17	17
Reserves	0	0	0	52	52	52	52	103	103	103	103	154
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	16	16	16	16	16	17	17	17	17	17	17	17
Reserves	0	0	0	52	52	52	52	103	103	103	103	154
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Sep 2023

: 41
: 37
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 4
Tax %: 16.74%
Net Profit: 0
: 2
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 37
: 33
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 0
: 3
Tax %: 29.48%
Net Profit: 0
: 2
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 57
: 49
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 0
: 8
Tax %: 23.59%
Net Profit: 0
: 4
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 54
: 49
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 0
: 5
Tax %: 25.60%
Net Profit: 3
: 2
Equity Capital: 16
Reserves: 52
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 52
Promoter Pledge %: 0.00%

Sep 2024

: 59
: 53
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 7
Tax %: 24.26%
Net Profit: 5
: 3
Equity Capital: 16
Reserves: 52
Promoter Pledge %: 0.00%
Equity Capital: 16
Reserves: 52
Promoter Pledge %: 0.00%

Dec 2024

: 63
: 57
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 0
: 5
Tax %: 27.37%
Net Profit: 4
: 2
Equity Capital: 17
Reserves: 52
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 52
Promoter Pledge %: 0.00%

Mar 2025

: 73
: 67
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 0
Depreciation: 1
: 6
Tax %: 30.77%
Net Profit: 4
: 3
Equity Capital: 17
Reserves: 52
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 52
Promoter Pledge %: 0.00%

Jun 2025

: 61
: 57
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 4
Tax %: 27.25%
Net Profit: 3
: 2
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%

Sep 2025

: 73
: 67
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 0
: 6
Tax %: 23.14%
Net Profit: 5
: 3
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%

Dec 2025

: 72
: 70
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 1
: 2
Tax %: 28.72%
Net Profit: 1
: 1
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%

Mar 2026

: 73
: 73
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 0
Depreciation: 1
: 2
Tax %: 21.87%
Net Profit: 1
: 1
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 103
Promoter Pledge %: 0.00%

Jun 2026

: 83
: 79
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 0
Depreciation: 1
: 5
Tax %: 21.70%
Net Profit: 4
: 0
Equity Capital: 17
Reserves: 154
Promoter Pledge %: 0.00%
Equity Capital: 17
Reserves: 154
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	TTM
	172	249	301
	153	226	289
Operating Profit	21	26	—
OPM %	12	10	—
Other Income	1	2	4
Interest	0	0	0
Depreciation	1	2	3
	19	24	15
Tax %	22	29	23
Net Profit	15	17	11
EPS	9	10	—
Dividend Payout %	0	0	—
Minority Interest	0	0	-0
Share of Associates	0	0	0
Adjusted EPS	9	10	—
Minority Interest	0	0	-0
Share of Associates	0	0	0
Adjusted EPS	9	10	—

Mar 2024

: 172
: 153
Operating Profit: 21
OPM %: 12
Other Income: 1
Interest: 0
Depreciation: 1
: 19
Tax %: 22
Net Profit: 15
EPS: 9
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2025

: 249
: 226
Operating Profit: 26
OPM %: 10
Other Income: 2
Interest: 0
Depreciation: 2
: 24
Tax %: 29
Net Profit: 17
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

TTM

: 301
: 289
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 0
Depreciation: 3
: 15
Tax %: 23
Net Profit: 11
EPS: —
Dividend Payout %: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -4%
1 Year:: -35%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: —
Last Year:: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
LIABILITIES	-	-
Equity Capital	16	17
	52	103
Trade Payables	11	11
	6	20
Total Liabilities	85	151
ASSETS	-	-
	2	16
Capital Work in Progress	0	2
	12	42
	34	54
	11	14
Cash & Bank	14	4
	12	19
Total Assets	85	151
Total Debt	0	0
Net Working Capital	65	109
Contingent Liabilities	0	0
Book Value per Share	42.67	71.95
Face Value	10.00	10.00
Total Debt	0	0
Net Working Capital	65	109
Contingent Liabilities	0	0
Book Value per Share	42.67	71.95
Face Value	10.00	10.00

Mar 2024

Equity Capital: 16
: 52
Trade Payables: 11
: 6
Total Liabilities: 85
: 2
Capital Work in Progress: 0
: 12
: 34
: 11
Cash & Bank: 14
: 12
Total Assets: 85
Total Debt: 0
Net Working Capital: 65
Contingent Liabilities: 0
Book Value per Share: 42.67
Face Value: 10.00
Total Debt: 0
Net Working Capital: 65
Contingent Liabilities: 0
Book Value per Share: 42.67
Face Value: 10.00

Mar 2025

Equity Capital: 17
: 103
Trade Payables: 11
: 20
Total Liabilities: 151
: 16
Capital Work in Progress: 2
: 42
: 54
: 14
Cash & Bank: 4
: 19
Total Assets: 151
Total Debt: 0
Net Working Capital: 109
Contingent Liabilities: 0
Book Value per Share: 71.95
Face Value: 10.00
Total Debt: 0
Net Working Capital: 109
Contingent Liabilities: 0
Book Value per Share: 71.95
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
	-11	-4
Cash from Investing	-22	-43
Cash from Financing	36	47
	3	1
Free Cash Flow	-11	-21
OCF / Net Profit	-0.71	-0.21
Cumulative 5-Year FCF	0	0
OCF / Net Profit	-0.71	-0.21
Cumulative 5-Year FCF	0	0

Mar 2024

: -11
Cash from Investing: -22
Cash from Financing: 36
: 3
Free Cash Flow: -11
OCF / Net Profit: -0.71
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.71
Cumulative 5-Year FCF: 0

Mar 2025

: -4
Cash from Investing: -43
Cash from Financing: 47
: 1
Free Cash Flow: -21
OCF / Net Profit: -0.21
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.21
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
PER SHARE	-	-
EPS (₹)	9.41	10.21
Book Value (₹)	42.67	71.95
Dividend per Share (₹)	0.00	0.00
Cash EPS (₹)	10.04	11.21
PROFITABILITY	-	-
Operating Margin %	11.10%	9.57%
Net Margin %	8.77%	6.78%
ROE %	22.06%	17.98%
ROCE %	28.50%	23.93%
	17.68%	14.32%
EFFICIENCY	-	-
Debtor Days	24	18
Inventory Days	72	64
Payable Days	33	23
	63	59
FINANCIAL HEALTH	-	-
Debt to Equity (x)	0.00x	0.00x
Interest Coverage (x)	207.66x	226.77x
	4.95x	7.57x
GROWTH	-	-
Revenue Growth %	0.00%	45.08%
Operating Profit Growth %	0.00%	25.78%
Net Profit Growth %	0.00%	12.09%
	0.00%	8.45%
VALUATION	-	-
P/E (x)	52.09x	61.11x
P/B (x)	11.49x	8.67x
Dividend Yield %	0.00%	0.00%
	37.64x	40.04x

Mar 2024

EPS (₹): 9.41
Book Value (₹): 42.67
Dividend per Share (₹): 0.00
Cash EPS (₹): 10.04
Operating Margin %: 11.10%
Net Margin %: 8.77%
ROE %: 22.06%
ROCE %: 28.50%
: 17.68%
Debtor Days: 24
Inventory Days: 72
Payable Days: 33
: 63
Debt to Equity (x): 0.00x
Interest Coverage (x): 207.66x
: 4.95x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 52.09x
P/B (x): 11.49x
Dividend Yield %: 0.00%
: 37.64x

Mar 2025

EPS (₹): 10.21
Book Value (₹): 71.95
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.21
Operating Margin %: 9.57%
Net Margin %: 6.78%
ROE %: 17.98%
ROCE %: 23.93%
: 14.32%
Debtor Days: 18
Inventory Days: 64
Payable Days: 23
: 59
Debt to Equity (x): 0.00x
Interest Coverage (x): 226.77x
: 7.57x
Revenue Growth %: 45.08%
Operating Profit Growth %: 25.78%
Net Profit Growth %: 12.09%
: 8.45%
P/E (x): 61.11x
P/B (x): 8.67x
Dividend Yield %: 0.00%
: 40.04x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.62	69.62	69.30	66.50	65.97	65.60	60.75	60.19	60.19
	0.00	0.02	0.22	3.54	3.53	3.56	7.51	6.93	6.93
	0.64	0.23	1.28	1.72	1.77	0.91	0.87	1.66	2.19
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	29.74	30.13	29.20	28.24	28.73	29.92	30.88	31.23	30.70

Jun 2024

: 69.62
: 0.00
: 0.64
Government: 0.00
: 29.74

Sep 2024

: 69.62
: 0.02
: 0.23
Government: 0.00
: 30.13

Dec 2024

: 69.30
: 0.22
: 1.28
Government: 0.00
: 29.20

Mar 2025

: 66.50
: 3.54
: 1.72
Government: 0.00
: 28.24

Jun 2025

: 65.97
: 3.53
: 1.77
Government: 0.00
: 28.73

Sep 2025

: 65.60
: 3.56
: 0.91
Government: 0.00
: 29.92

Dec 2025

: 60.75
: 7.51
: 0.87
Government: 0.00
: 30.88

Mar 2026

: 60.19
: 6.93
: 1.66
Government: 0.00
: 31.23

Jun 2026

: 60.19
: 6.93
: 2.19
Government: 0.00
: 30.70

Documents

Announcements

Nothing filed yet.

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Jun 2026
TranscriptPPTREC
Nov 2025
Transcript PPTREC
Aug 2025
TranscriptPPTREC