Get latest articles and stories on Business at LatestLY. In the midst of a coronavirus-caused Covid-19 pandemic when many companies are struggling to make ends meet, there are some companies that have become a force to reckon with and to bet on without getting into any kind of financial hassles – PrevestDenpro, one of India’s leading manufacturers of dental materials, is one of them.
Agency News ANI| Dec 27, 2021 11:40 AM IST
New Delhi [India], December 27 (ANI/GIPR): In the midst of a coronavirus-caused Covid-19 pandemic when many companies are struggling to make ends meet, there are some companies that have become a force to reckon with and to bet on without getting into any kind of financial hassles – PrevestDenpro, one of India’s leading manufacturers of dental materials, is one of them.
PrevestDenpro is addressing USD 20 billion global market growing at 8% CAGR with products which find applications in endodontics, prosthodontics, orthodontics, restorative dentistry, aesthetic dentistry trusted by dental professionals across the world in more than 75 countries with the most enviable financials.
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But what caught the attention of RH Perennial Fund is the potential hyper scaling over next 3-4 years.
PrevestDenpro: Business Portfolio – Stupendous Growth Expected
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“The business pre-IPO had a gross block of INR 8 crores and turnover of 27.5 cr. It raised ~INR 26 crores from its IPO with INR 16 crores for new capex. Essentially if the management executes over the next 3-4 years, it could more than triple its revenues in an industry where the company has a gross margins more than 70%, says RH Perennial Fund report.
PrevestDenpro: Exponential Growth So Far
Over the past 5 years, the company has shown exponential growth in revenue & profitability with 5 year revenue/PAT CAGR of 21% & 57%, gross profit margins above 70%, negative cash conversion cycle & ROCE above 40%, and negligible debt.
PrevestDenpro: Key Growth Drivers
– Huge size of opportunity & attractive industry structure – The business is addressing USD 19.3 billion global dental market growing at 8% CAGR & USD 700 million Indian market growing at 7% where most players display excellent unit economics & value creation overtime
– The Company has obtained USFDA approval for five dental products and has applied for MDSAP certification that will open the doors for Canadian and Brazilian market besides USA.
– PrevestDenpro: How fastest-growing company in the dental healthcare sector tookbirth?
– PrevestDenpro was founded in the year 1999 by Jammu based entrepreneurs Atul Modi and Namrata Modi, who now cumulatively possess over 42 years of experience in the dental industry.
– They sell products through a network of 53 dealers spread over 16 states and 2 Union Territories in India and through 91 overseas agents spread over 75 countries.
– They primarily follow a business-to-business model for all their dental products. Further, they have started selling certain of their products to direct consumers on digital market platforms such as Amazon and their own web-platform i.e.prevestdirect.com.
– As on date, they have collaboration with five reputed dental universities and institutions of India for the exchange of technical knowledge and conducting training & research on dental materials. Also, they have entered into a license agreement with Sree Chitra Tirunal Institute for Medical Sciences & Technology, Kerala for obtaining the know-how and rights to enable them to manufacture bioactive bone augmentation materials.
– Their products are certified with ISO 13485:2016, EU CE mark & US FDA, which makes them eligible to market their products in European Union and many other countries which have adopted EU medical devices directives.
– Future Growth Drivers – a well diversified business plan supported by state-of-the-art research centre under implementation, extensive marketing and brand promotion activities planned will help the company to grow exponentially in the coming times.
This story is provided by GIPR. ANI will not be responsible in any way for the content of this article. (ANI/GIPR)
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