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 ₹ 16,921 Cr.
- Current Price ₹ 535
- High / Low ₹ 543 / 327
- Stock P/E 164
- Book Value ₹ 59.1
- Dividend Yield 0.00 %
- ROCE 9.99 %
- ROE 4.76 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 41.7% CAGR over last 5 years
Cons
- Stock is trading at 9.06 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 7.83% 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 500 BSE SmallCap BSE IPO BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|
531 | 471 | 696 | 1,018 | 1,332 | 1,711 | 1,795 | |
407 | 387 | 510 | 743 | 965 | 1,248 | 1,314 | |
Operating Profit | 124 | 85 | 186 | 275 | 367 | 463 | 481 |
OPM % | 23% | 18% | 27% | 27% | 28% | 27% | 27% |
13 | 6 | 17 | 14 | 44 | 43 | 51 | |
Interest | 54 | 44 | 49 | 76 | 101 | 115 | 106 |
Depreciation | 93 | 95 | 98 | 128 | 170 | 231 | 239 |
Profit before tax | -11 | -48 | 57 | 84 | 141 | 160 | 186 |
Tax % | 82% | 21% | 24% | -24% | 32% | 31% | |
-21 | -59 | 43 | 103 | 95 | 110 | 130 | |
EPS in Rs | 2.64 | ||||||
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 26% |
3 Years: | 35% |
TTM: | 28% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 42% |
3 Years: | 26% |
TTM: | 12% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 6% |
3 Years: | 8% |
Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 8 | 9 | 32 |
Reserves | 242 | 177 | 206 | 622 | 1,330 | 1,835 |
162 | 185 | 633 | 857 | 966 | 961 | |
339 | 417 | 179 | 336 | 445 | 837 | |
Total Liabilities | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 |
551 | 575 | 701 | 1,293 | 1,746 | 2,523 | |
CWIP | 8 | 11 | 28 | 99 | 118 | 153 |
Investments | 1 | 0 | 0 | 34 | 471 | 264 |
192 | 201 | 295 | 397 | 416 | 724 | |
Total Assets | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
103 | 99 | 164 | 233 | 346 | 360 | |
-85 | -46 | -155 | -509 | -914 | -750 | |
-73 | -37 | 35 | 303 | 553 | 382 | |
Net Cash Flow | -56 | 17 | 44 | 27 | -15 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 36 | 36 | 30 | 27 | 27 | 26 |
Inventory Days | 178 | 169 | 144 | 116 | 138 | 181 |
Days Payable | 340 | 452 | 389 | 326 | 355 | 345 |
Cash Conversion Cycle | -126 | -247 | -215 | -183 | -190 | -138 |
Working Capital Days | -31 | -47 | -50 | -62 | -65 | -44 |
ROCE % | -1% | 17% | 13% | 11% | 10% |
Documents
Announcements
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
8 Oct - Acquired 41,653 shares (12.25%) of AJEHPL for INR 6.25 Crore on Oct 08, 2025; now wholly-owned.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Oct - KFin certifies dematerialisation/rematerialisation details furnished to exchanges for quarter ended September 30, 2025.
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Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
26 Sep - Subscribed 132,827 AEHL shares at INR5,270 each; stake rises to 72.67% on Sept 26, 2025.
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Closure of Trading Window
26 Sep - Trading window closed from Sep 30, 2025 until 48 hours after Q2/H1 unaudited results.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 25 Sep
Concalls
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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]
Dr. Agarwal is India's largest eye care service chain with a 25% market share. It is the largest company by revenue in FY23, with more than two times the revenue from operations of the second-largest eye care service chain in the country.