Dr Agarwals Health Care Ltd
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]
- Market Cap ₹ 15,154 Cr.
- Current Price ₹ 478
- High / Low ₹ 568 / 401
- Stock P/E 352
- Book Value ₹ 62.9
- Dividend Yield 0.00 %
- ROCE 5.58 %
- ROE 2.19 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 7.60 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 1.79% 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 Healthcare Nifty Microcap 250 Nifty Total Market BSE 1000 BSE Hospitals
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
|---|---|---|---|---|---|---|---|---|
| 202 | 248 | 232 | 362 | 598 | 835 | 1,044 | 1,293 | |
| 186 | 202 | 199 | 275 | 436 | 611 | 795 | 986 | |
| Operating Profit | 16 | 46 | 33 | 86 | 162 | 224 | 249 | 308 |
| OPM % | 8% | 19% | 14% | 24% | 27% | 27% | 24% | 24% |
| 5 | 9 | 4 | 10 | -12 | 38 | 40 | 26 | |
| Interest | 20 | 42 | 34 | 38 | 64 | 88 | 94 | 73 |
| Depreciation | 21 | 49 | 55 | 59 | 92 | 129 | 156 | 197 |
| Profit before tax | -20 | -36 | -52 | -1 | -6 | 45 | 39 | 64 |
| Tax % | 0% | 0% | 4% | 55% | -641% | 47% | 43% | 38% |
| -20 | -36 | -54 | -1 | 32 | 24 | 22 | 39 | |
| EPS in Rs | 0.69 | 1.25 | ||||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 29% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | -9% |
| TTM: | 108% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 6% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 3% |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 7 | 8 | 9 | 32 | 32 |
| Reserves | 290 | 248 | 194 | 192 | 554 | 1,218 | 1,902 | 1,960 |
| 135 | 142 | 161 | 252 | 590 | 661 | 568 | 670 | |
| 60 | 200 | 281 | 242 | 236 | 298 | 335 | 300 | |
| Total Liabilities | 492 | 596 | 643 | 692 | 1,388 | 2,187 | 2,837 | 2,961 |
| 99 | 322 | 387 | 367 | 907 | 1,302 | 1,591 | 1,922 | |
| CWIP | 1 | 3 | 11 | 2 | 35 | 9 | 18 | 29 |
| Investments | 238 | 146 | 121 | 147 | 187 | 629 | 729 | 615 |
| 154 | 124 | 124 | 176 | 258 | 248 | 498 | 395 | |
| Total Assets | 492 | 596 | 643 | 692 | 1,388 | 2,187 | 2,837 | 2,961 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 40 | 46 | 78 | 153 | 222 | 208 | 321 | ||
| -37 | -26 | -98 | -436 | -818 | -577 | -167 | ||
| -60 | -21 | 40 | 316 | 570 | 374 | -173 | ||
| Net Cash Flow | -56 | -1 | 20 | 33 | -26 | 5 | -19 | |
| Free Cash Flow | -91 | 23 | 12 | 76 | 87 | 18 | 6 | |
| CFO/OP | 94% | 147% | 94% | 102% | 105% | 81% | 115% |
Ratios
Standalone Figures in Rs. Crores / 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 | 174 | 66 |
| Days Payable | 330 | 427 | 608 | 456 | 354 | 383 | 375 | 122 |
| Cash Conversion Cycle | -147 | -222 | -422 | -276 | -210 | -226 | -176 | -32 |
| Working Capital Days | 5 | -37 | -43 | -54 | -88 | -79 | -55 | -21 |
| ROCE % | 1% | -5% | 9% | 10% | 8% | 6% | 6% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash Payor Mix % |
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| Cataract Surgeries Performed # |
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| Number of International Facilities # |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
28 Jul - Intimation of Analyst / Earnings Conference call to discuss the Unaudited Financial Results (Standalone & Consolidated) of the Company For The Quarter Ended June 30, …
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Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter Ended June 30, 2026
28 Jul - Board meets August 4, 2026 for Q1 FY27 unaudited results and analyst call.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
20 Jul - Newspaper Advertisement of Notice of Hearing of the Company''s Petition in relation to the Scheme of Amalgamation between Dr. Agarwal''s Eye Hospital Limited and Dr. …
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
9 Jul - Allotment of 43,155 Equity Shares pursuant to the exercise of options granted under Dr. Agarwal''s Health Care Limited - Employee Stock Option Scheme 2022.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Jul - Regulation 74(5) depository compliance certificate filed for quarter ended June 30, 2026.
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Sep 2025Transcript PPT
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Aug 2025Transcript PPT REC
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Jun 2025Transcript PPT
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Feb 2025Transcript PPT REC
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.