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 ₹ 16,118 Cr.
- Current Price ₹ 508
- High / Low ₹ 568 / 401
- Stock P/E 109
- Book Value ₹ 63.9
- Dividend Yield 0.00 %
- ROCE 11.1 %
- ROE 6.81 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 7.95 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 6.11% 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 BSE 1000 BSE Hospitals Nifty Microcap 250 Nifty Total Market
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 531 | 471 | 696 | 1,018 | 1,332 | 1,711 | 2,080 | 2,207 | |
| 407 | 387 | 510 | 743 | 965 | 1,248 | 1,511 | 1,595 | |
| Operating Profit | 124 | 85 | 186 | 275 | 367 | 463 | 570 | 612 |
| OPM % | 23% | 18% | 27% | 27% | 28% | 27% | 27% | 28% |
| 13 | 6 | 17 | 14 | 44 | 43 | 46 | 39 | |
| Interest | 54 | 44 | 49 | 76 | 101 | 115 | 90 | 89 |
| Depreciation | 93 | 95 | 98 | 128 | 170 | 231 | 276 | 292 |
| Profit before tax | -11 | -48 | 57 | 84 | 141 | 160 | 249 | 270 |
| Tax % | 82% | 21% | 24% | -24% | 32% | 31% | 32% | |
| -21 | -59 | 43 | 103 | 95 | 110 | 168 | 185 | |
| EPS in Rs | 2.64 | 4.20 | 4.69 | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 27% |
| TTM: | 23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 34% |
| 3 Years: | 13% |
| TTM: | 43% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 6% |
| Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 7 | 8 | 9 | 32 | 32 |
| Reserves | 242 | 177 | 206 | 622 | 1,330 | 1,835 | 1,994 |
| 162 | 185 | 633 | 857 | 966 | 961 | 1,066 | |
| 339 | 417 | 179 | 336 | 445 | 837 | 850 | |
| Total Liabilities | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 | 3,942 |
| 551 | 575 | 701 | 1,293 | 1,746 | 2,523 | 2,879 | |
| CWIP | 8 | 11 | 28 | 99 | 118 | 153 | 234 |
| Investments | 1 | 0 | 0 | 34 | 471 | 264 | 152 |
| 192 | 201 | 295 | 397 | 416 | 724 | 676 | |
| Total Assets | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 | 3,942 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 103 | 99 | 164 | 233 | 346 | 360 | 519 | |
| -85 | -46 | -155 | -509 | -914 | -750 | -308 | |
| -73 | -37 | 35 | 303 | 553 | 382 | -220 | |
| Net Cash Flow | -56 | 17 | 44 | 27 | -15 | -8 | -10 |
| Free Cash Flow | -98 | 66 | 95 | 76 | 118 | 40 | 59 |
| CFO/OP | 97% | 126% | 97% | 98% | 103% | 86% | 101% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 36 | 36 | 30 | 27 | 27 | 26 | 28 |
| Inventory Days | 178 | 169 | 144 | 116 | 138 | 181 | 178 |
| Days Payable | 340 | 452 | 389 | 326 | 355 | 345 | 283 |
| Cash Conversion Cycle | -126 | -247 | -215 | -183 | -190 | -138 | -76 |
| Working Capital Days | -31 | -47 | -50 | -62 | -65 | -44 | -3 |
| ROCE % | -1% | 17% | 13% | 11% | 10% | 11% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
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| Cash Payor Mix % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Advertisement - Sixteenth Annual General Meeting of Dr. Agarwals Health Care Limited, Instructions for e-Voting and Other Related Information, is submitted.
- Reg. 34 (1) Annual Report.
- Sixteenth Annual General Meeting Of Dr Agarwals Health Care Limited To Be Held On September 21, 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- World’s first Pinhole Pupilloplasty Centre launched in Chennai on August 27, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Company officials to attend Jefferies India Forum on September 16, 2026 and Kotak Healthcare Forum on September 17-18, 2026.
Concalls
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Aug 2026Transcript PPT REC
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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.