Dr Agarwals Health Care Ltd

₹ 554 3.14%

11 Nov - close price

dragarwals.co.in BSE: 544350 NSE: AGARWALEYE

About

Incorporated in 2010,^[1]Dr. Agarwal’s Health Care offers a wide array of eye care services, which include cataract and refractive surgeries, consultations, diagnoses, and non-surgical treatments. Additionally, they provide optical products, contact lenses, accessories, and pharmaceutical items related to eye care. ^[2]

Key Points

Largest Eyecare Service Provider:^[1]^[2]
Dr. Agarwal is India's largest eye care
service chain with a 26-27% market share.
It is the largest company by revenue in FY25, witnessed faster growth than other organized eye care service market.

Website BSE NSE

Market Cap ₹ 17,569 Cr.
Current Price ₹ 554
High / Low ₹ 568 / 401
Stock P/E 159
Book Value ₹ 73.9
Dividend Yield 0.00 %
ROCE 5.31 %
ROE 1.67 %
Face Value ₹ 1.00

Add ratio to table

Edit ratios

Pros

Company is expected to give good quarter

Cons

Stock is trading at 7.50 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 1.51% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Healthcare Services Hospital

Part of BSE 1000 BSE Hospitals Nifty Smallcap 500 BSE Healthcare

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	213	225	240	255	268	281	302	427	335	348	526	565
YoY Sales growth					+26%	+25%	+26%	+67%	+25%	+24%	+74%	+32%
	158	157	190	198	203	208	235	318	255	256	387	420
Operating Profit	55	67	49	58	65	73	67	109	80	92	139	145
OPM %	26%	30%	21%	23%	24%	26%	22%	26%	24%	26%	26%	26%
	13	13	2	5	10	24	12	5	6	1	5	8
Interest	22	22	23	23	23	21	19	21	18	19	22	21
Depreciation	32	35	37	38	39	42	44	59	48	56	69	73
Profit before tax	15	24	-8	1	12	34	16	34	20	18	53	59
Tax %	37%	29%	5%	746%	37%	22%	35%	33%	31%	42%	25%	27%
	10	17	-9	-4	8	27	10	23	14	11	40	44
EPS in Rs					0.25	0.84	0.32	0.72	0.44	0.33	1.26	1.37
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	202	248	232	362	598	835	1,044	1,293	1,773
Sales growth		+23%	-6%	+56%	+65%	+40%	+25%	+24%	+39%
	186	202	199	275	436	611	795	981	1,317
Operating Profit	16	46	33	86	162	224	249	312	456
OPM %	8%	19%	14%	24%	27%	27%	24%	24%	26%
	5	9	4	10	-12	38	40	26	21
Interest	20	42	34	38	64	88	94	77	79
Depreciation	21	49	55	59	92	129	156	197	246
Profit before tax	-20	-36	-52	-1	-6	45	39	64	152
Tax %	0%	0%	4%	55%	-641%	47%	43%	38%
	-20	-36	-54	-1	32	24	22	39	108
EPS in Rs							0.69	1.25	3.40
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	41%
3 Years:	29%
TTM:	39%

Compounded Profit Growth
10 Years:	%
5 Years:	21%
3 Years:	-17%
TTM:	56%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	11%

Return on Equity
10 Years:	%
5 Years:	2%
3 Years:	2%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	7	7	7	7	8	9	32	32	32
Reserves	290	248	194	192	554	1,218	1,902	1,960	2,312
	135	142	161	252	590	661	568	670	1,109
	60	200	281	242	236	298	335	300	422
Total Liabilities	492	596	643	692	1,388	2,187	2,837	2,961	3,874
	99	322	387	367	907	1,302	1,591	1,922	2,621
CWIP	1	3	11	2	35	9	18	29	242
Investments	238	146	121	147	187	629	729	615	514
	154	124	124	176	258	248	498	395	497
Total Assets	492	596	643	692	1,388	2,187	2,837	2,961	3,874

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	40	46	78	153	222	206	321
	-37	-26	-98	-436	-818	-577	-167
	-60	-21	40	316	570	374	-173
Net Cash Flow	-56	-1	20	33	-26	2	-19
Free Cash Flow	-91	23	12	76	87	15	6
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	94%	147%	94%	102%	105%	80%	113%

Ratios

Standalone / View Consolidated

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	46	46	39	31	24	22	25	23
Inventory Days	138	159	147	149	119	135	69	66
Days Payable	330	427	608	456	354	383	118	122
Cash Conversion Cycle	-147	-222	-422	-276	-210	-226	-24	-32
Working Capital Days	5	-37	-43	-54	-88	-79	-54	-38
ROCE %		1%	-5%	9%	10%	8%	6%	5%

Insights

In beta

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash Payor Mix
%

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xxx	xxx	xxx	xxx	xxx
xx	xx	xx	xxx	xxx
xx	xx	xx	xx	xx
x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
xxx	xxx	xxx	xxx	xxx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx

Please log in to see hidden values.

Cataract Surgeries Performed
#

Number of Doctors
#

Number of Emerging Facilities
#

Number of International Facilities
#

Number of Patients Served
#

Total Number of Facilities
#

Total Surgeries Performed
#

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

7 Recently

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	32.45%	32.43%	32.43%	32.39%	32.35%	32.34%	32.33%
	60.62%	59.26%	58.13%	58.06%	57.94%	57.97%	49.56%
	5.21%	6.44%	7.92%	7.78%	7.83%	7.72%	15.86%
	1.74%	1.87%	1.52%	1.78%	1.87%	1.97%	2.23%
No. of Shareholders	68,696	63,021	48,168	46,554	43,538	42,492	42,055

	Mar 2025	Mar 2026	Sep 2026
	32.45%	32.35%	32.33%
	60.62%	57.94%	49.56%
	5.21%	7.83%	15.86%
	1.74%	1.87%	2.23%
No. of Shareholders	68,696	43,538	42,055

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.