1. India Stocks

  2. •

    Health technology

  3. •

    Medical specialties
Novateor Research Laboratories Ltd.

Novateor Research Laboratories Ltd.

BBSE:NOVATEOR
34.50
INR
-4.50
(-11.54%)
188.89MMarket Cap
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
0.28
0.18
0.84
1
0.32
1.53
2.61
2.5
5.75
6.32
- -
Basic EPS, GAAP
-0.01
- -
0.45
-0.02
0.02
-0.47
0.08
0.06
0.17
0.17
- -
Free Cash Flow per Basic Share
0.02
0.11
-0.15
-8.66
-0.45
-2.84
-2.74
-3.54
-3.57
-0.33
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
0.01
- -
- -
- -
- -
Book Value per Share
1.91
1.92
8.43
17.71
17.73
16.22
16.3
18.13
21.81
19.01
19.01
Tangible Book Value per Share
1.91
1.92
8.43
17.71
17.73
16.22
16.3
18.13
21.81
19.01
19.01
Basic Weighted Avg Shares
5
5
5
4
6
5
5
5
5
6
6
Sales/Revenue/Turnover
1
1
4
4
2
7
13
12
28
38
- -
Operating Margin (%)
-7.65
-18.65
47.1
-59.12
-226.75
-36.66
-31.79
-30.88
-9.96
-7.56
- -
Depreciation Expense
1
1
1
1
1
1
1
1
2
2
- -
Net Income, GAAP
- -
- -
2
- -
- -
-2
- -
- -
1
1
- -
Effective Tax Rate (%)
203.33
44.44
26
129.69
28.69
- -
7.26
36.72
27.74
10.93
- -
Profit Margin (%)
-2.18
1.03
53.57
-2
6.29
-30.79
2.91
2.43
2.95
2.64
- -
Working Capital
1
2
5
51
54
61
58
63
75
86
86
LT Debt
8
8
- -
1
2
2
3
5
4
3
3
Total Equity
9
9
41
86
86
78
79
88
105
115
115
Return on Invested Capital (%)
- -
-0.5
4.78
1.07
-3.43
- -
-4.79
-2.8
-1.97
-2.14
- -
Return on Capital (%)
- -
0.28
7.57
-0.12
0.14
- -
0.5
0.51
1.11
1.43
- -
Return on Common Equity (%)
- -
0.1
8.73
-0.12
0.14
-2.78
0.47
0.35
0.85
0.92
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
5
4
7
LT Borrowings
4
4
3
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
6
6
Market Capitalization
173
148
189

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
91
105
110
Cash, Cash Equivalents & STI
3
3
5
Accounts Receivable, Net
21
26
28
Inventories
8
6
11
Total Current Liabilities
16
21
24
Payables & Accruals
- -
- -
- -
ST Debt
5
4
7
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
6.52%
9.13%
Free Cash Flow
- -
71.39%
-88.31%
Net Income, GAAP
- -
-393.71%
23.72%
Sales/Revenue/Turnover
- -
105.74%
37.81%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
12
2025
- -
- -
28
2026
- -
- -
38

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.06
2025
- -
- -
0.17
2026
- -
- -
0.17

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Navdeep Subhashbhai Mehta
Full Time Employees
16
Sector
Health technology
Industry
Medical specialties
Address
1026, Dev Atelier Ahmedabad India 380015
IPO Date
Sep 13, 2019
Website
novateor.com
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Business
Novateor Research Laboratories Ltd (NOVATEOR.BO) develops, manufactures and markets novel personal care products focused on oral care in India. The company offers teeth whitening strips, whitening toothpaste, whitening toothbrushes, charcoal gel strips, tongue cleaners, denture products, mouthwashes and rinses, dental accessories and prosthesis cleaning solutions, primarily under the SmiloShine brand; all products undergo FDCA approval for clinical and commercial use. It sells through dentists, cosmetic parlors, modern retailers, distributors and online platforms including Amazon, Flipkart and Nykaa, with primary operations in Gujarat and Maharashtra from its manufacturing facility in Sanand Taluka, Ahmedabad District. Founded in 2011 and headquartered at 1026 Dev Atelier, Opp. Dev Aurum, Anandnagar Cross Road, Prahladnagar, Ahmedabad, Gujarat, the company converted from private limited to public limited status in April 2019 ahead of its SME IPO listing on BSE. Recent developments include the appointment of Anil Tilakraj Arora as additional independent director on September 3, 2025, pending shareholder regularization at the 14th AGM on September 30, 2025; reappointment of secretarial and internal auditors for FY2025-26; and additions to memorandum of association business objects, alongside sustained sales growth to Rs 2.92 crore and net profit of Rs 0.08 crore for FY2025.