Vasa Denticity Limited · NSE:DENTALKART
Vasa Denticity — H1 FY27 Earnings Presentation
21 slides from Vasa Denticity's earnings presentation, Nov 10, 2026
Slide 1: Filing cover letter to National Stock Exchange
www.dentalkart.com cs@dentalkart.com Dated: November 10, 2026 To, The National Stock Exchange of India Ltd, Exchange Plaza, Bandra-Kurla Complex, Bandra (East), MUMBAI - 400 051 Company Symbol: DENTALKART, ISIN: INE0N5801013 Subject: Investor Presentation Dear Sir / Madam, Pursuant to Regulation 30
Slide 2: H1 FY27 & Q2 FY27 Investor Update
VA S A D E N T I C I T Y L I M I T E D H1 FY27 & Q2 FY27 Investor Update Half year and quarter ended 30 September 2026 Results approved by the Board on 6 November 2026 · Limited review by KRA & Co., Chartered Accountants NSE Emerge • DENTALKART • ISIN INE0N5801013 C O N S O L I DAT E D R E S U LT S
Slide 3: Safe Harbor Statement
DISCLAIMER Safe Harbor Statement This presenta2on by Vasa Den2city Limited (“Dentalkart” / the “Company”) is for informa2on only. It contains forward-looking statements on strategy, outlook and opera2ons. These involve risks and uncertain2es, and actual results may di@er materially. The Company is u
Slide 4: Ten Years In — and Just Getting Started
A NOTE FROM THE MANAGING DIRECTOR · 1 OF 2 Ten Years In — and Just GePng Started Dear Share Owners, Ten years ago we started with one belief: a den2st in a small town deserves the same products, price and speed as a den2st in South Delhi. This quarter, at an annualised revenue run-rate of ₹348 Cr, t
Slide 5: What Is Happening, and Why
A NOTE FROM THE MANAGING DIRECTOR · 2 OF 2 What Is Happening, and Why Customers and wallet share. We added 14,690 new customers this quarter without heavy acquisi2on spend, but our real prize is the 3.1 lakh den2sts — out of 4.1 lakh den2sts registered with the Na2onal Dental Commission — who have a
Slide 6: Financials and Operating Metrics
01 Financials and Opera2ng Metrics What happened, why, and what we expect next. 5
Slide 7: Q2 and H1 FY27 Results
R E S U LT S Q2 and H1 FY27 Results BA LA N C E S H EE T — 3 0 SE P 2 0 2 6 Consolidated Q2 FY27 YoY QoQ H1 FY27 YoY Revenue from opera2ons ₹87.10 Cr +19.4% +4.8% ₹170.24 Cr +27.6% Cash & liquid investments ₹39.05 Cr Gross margin 27.2% −599 bps +239 bps 26.0% — Inventories ₹104.09 Cr Opera2ng EBITDA
Slide 8: What We Track — and Where We Stand
SCORECARD What We Track — and Where We Stand M ET R IC WH AT WE AI M F O R WH ER E W E STA N D STAT US Gross margin Within 25–30% 27.18%, up 239 bps on Q1 I N BA N D Opera ng EBITDA margin 13–18% over me 8.3% vs 8.0% a year ago BUI L D I N G Spend per customer Keep growing it ₹11,428 per customer, +
Slide 9: Margins: What Happened and Why They Are Recovering
QUARTER BY QUARTER Margins: What Happened and Why They Are Recovering RE VE N UE FROM OP ER AT I O N S ( ₹ CR ) M ARG I N S ( %) 83.1 87.1 33.2 28.5 27.2 72.9 72.2 73.3 24.8 23.7 8.0 8.3 6.1 2.5 0.3 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Gross margin % Opera2
Slide 10: From 8% Today to 13–18% Over Time
WHERE MARGIN COMES FROM From 8% Today to 13–18% Over Time 13–18% T HE REA L LE V ER I S COST Gross margin may stay where it is or rise within +4 to 7 pts 25–30% — we will decide with the market. Most of the gain comes from cost. +0 to 3 pts 8.3% LON G-T E RM CO ST BE N C H M A RK Logis2cs ~4% People
Slide 11: Cost per Order: Down on the Year, Up Slightly on the Quarter
OP E R AT I N G L E V E R AG E Cost per Order: Down on the Year, Up Slightly on the Quarter ₹ Crore Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ Employee costs 5.86 5.97 −1.8% 5.54 +5.7% of which one-oB severance (approx.) 0.30 — — Other expenses (incl. warehousing, shipping & 10.57 12.38 −14.6% 9.99 +5.8% marke
Slide 12: Building the Team for the Next Decade
COSTS AND THE TEAM Building the Team for the Next Decade N ET WOR K T EA M 5 warehouses Then Hire low-cost, train in-house. Slow — and we fell behind the industry's talent curve. down from 7 — overlapping zones closed Now Hire experienced professionals who raise the bar from day one. AEO Tier-II cer
Slide 13: Inventory: Why It Rose and How It Comes Down
INVENTORY Inventory: Why It Rose and How It Comes Down 31 MAR 2026 3 0 S EP 2 0 2 6 WO RKI N G HY P OT H ESIS · DAYS › › ₹81.16 Cr ~137 days ₹104.09 Cr ~151 days FY27 120–150 › FY28 90–120 › then under 100 WH Y I T ROSE — W E B U I LT IT DE LI B ER AT ELY HOW IT C OM ES D OW N A buNer against stock-
Slide 14: The Core Engine — Q2 FY27
DEMAND AND CUSTOMERS The Core Engine — Q2 FY27 ORD E RS SH I P P E D CU STO M ERS S ERVE D AV E RAGE OR DE R VA LU E 2.00 lakh 75,277 ₹4,296 +20.5% YoY Online ₹3,454 +27.6% YoY −1.8% YoY +5.9% QoQ +4.9% YoY +8.8% QoQ Oaine ₹97,625 +122.7% YoY ORD E RS P ER CU STOM E R RE VE N UE P ER CU STOM E R OP.
Slide 15: Stock Availability and Delivery — The Trend
OP E R AT I N G H E ALT H Stock Availability and Delivery — The Trend Q Where are stock-outs, and how fast do orders reach the clinic? STOC K- O UT R AT E · TOP 2 , 5 0 0 SKU s ON -T I M E D E LIV ERY 92.9 93.6 8.8% 33.0 93.6% Down from a 33% 12.9 By the date promised 8.8 peak. Target: below 5% at c
Slide 16: New Initiatives
02 New Ini2a2ves Own brands and digital den2stry. 15
Slide 17: Four Priorities for the Next Decade
ST R AT E GY Four Priori2es for the Next Decade 01 OW N B RA N D S 02 DI G I TA L D EN T I ST RY Value Krst, share follows Opening the clinic Availability What rebuilt — behind the gross-margin recovery scanners, 3D printers, milling, imaging Our rule Size grow only as fast as it gives den2sts beCer
Slide 18: How Digital Dentistry Works in a Clinic
FOR EVERY INVESTOR How Digital Den2stry Works in a Clinic 1 SCAN 2 DESIGN 3 MAKE 4 FIT › › › A camera-wand scans the SoBware designs the crown, A 3D printer or milling The den2st Kts it, oBen in teeth in minutes — no aligner or guide on screen. machine makes it — in the fewer visits and with a messy
Slide 19: Dentalkart Anthem: Our 10th Anniversary Film
1 0 Y EA R S O F D E N TA L K A RT Dentalkart Anthem: Our 10th Anniversary Film Watch the 4lm on YouTube Vasa Den2city Limited | NSE: DENTALKART | H1 & Q2 FY27 Investor Update 18 · Anniversary Film
Slide 20: Thank You
Thank You We will begin with ques2ons received in advance, then take live ques2ons as 2me allows. EARNINGS CALL · Wednesday, 11 November 2026 · 10:00–11:00 AM IST Google Meet: meet.google.com/suo-agyx-gno Dial-in: +1 254-870-6727 · PIN 800 978 461# Ques2ons in advance: cs@dentalkart.com by 6:00 PM I
Slide 21: Indian Dentistry Is Going Digital — and Online
APPENDIX · THE OPPORTUNITY Indian Den2stry Is Going Digital — and Online ₹22,000+ Cr US$ 1.1 Bn US$ 0.5 Bn US$ 0.7 Bn India dental market clinical dental supply dental lab equipment crown & bridge products + equipment + services, es2mated market size today es2mated market size today es2mated size —