Novateor Research Laboratories

Operates in personal care FMCG, with a focus on branded oral care products sold in domestic and international markets. The existing business lies in cosmetics and pharma, and the company is forward-integrating into direct consumer oral care, launching three products in FY26: Smiloshine Herbafresh Toothpaste in 6-gram sachets aimed at the hotel and travel segment, a 100-gram pack of the same toothpaste for the broader FMCG market, and Smiloshine Aligner and Denture Cleaner and Whitener Foam priced at MRP ₹599 for a 71.98 gm pack, targeted at dental aligner and denture users. FY26 revenue from operations was Rs. 382.71 lakhs, up 37.8% from Rs. 277.73 lakhs in the prior year, though profit after tax was nearly flat at Rs. 8.18 lakhs versus Rs. 8.30 lakhs, and operating cash flow was negative at Rs. 8.32 lakhs. Materials are the dominant cost at 73.2% of revenue, followed by employee cost at 18.9% and other opex at 18.0%. The company has also amended its objects clause to enter dental equipment, instruments, consumables trading and chemicals, paints and coatings, signalling a broader diversification beyond oral care within personal and industrial products.