AGARWALEYE

Dr. Agarwal's Health Care Limited

Eye-care hospitals and clinics offering cataract, refractive, retina and cornea services

Healthcare›Healthcare›Healthcare Services›Hospital

dragarwals.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹465.80
Market cap
14,733 Cr
Stock P/E
99.3
P/B
7.31
Dividend yield
0.0%
ROE (FY26)
6.3%
ROCE (FY26)
14.9%
Operating margin (FY26)
14.1%
Debt / equity (FY26)
0.08
OCF / EBITDA (FY26)
91.1%
OCF / EBITDA (3Y)
88.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Dr. Agarwal's Health Care runs a network of eye-care hospitals and clinics across India, earning most of its revenue from surgery (led by cataract) and the rest from consultations, diagnosis, optical products and pharmacy.

Company snapshot

9thBy market cap

Ranked among 24 companies in Hospital.

What we see

Positives
  • ✓88% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales431 Cr460 Cr487 Cr499 Cr530 Cr564 Cr614 Cr
Operating expenses (approx.)316 Cr329 Cr360 Cr363 Cr386 Cr403 Cr444 Cr
EBITDA115 Cr131 Cr128 Cr136 Cr144 Cr161 Cr170 Cr
OPM %26.7%28.5%26.2%27.3%27.2%28.6%27.8%
Other income13 Cr15 Cr13 Cr8 Cr11 Cr13 Cr6 Cr
Interest28 Cr25 Cr25 Cr23 Cr21 Cr22 Cr23 Cr
Depreciation58 Cr60 Cr63 Cr68 Cr69 Cr77 Cr78 Cr
Profit before tax41 Cr59 Cr54 Cr54 Cr65 Cr77 Cr75 Cr
Tax %31.1%27.3%29.0%32.0%32.6%34.8%26.8%
Net profit28 Cr43 Cr38 Cr36 Cr44 Cr50 Cr55 Cr
EPS (₹)₹0.73₹1.04₹0.95₹0.94₹1.07₹1.25₹1.43

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales696 Cr1,018 Cr1,332 Cr1,711 Cr2,080 CrSign in free for the trailing twelve months
Operating expenses (approx.)514 Cr748 Cr970 Cr1,255 Cr1,511 CrSign in free for the trailing twelve months
EBITDA182 Cr270 Cr362 Cr456 Cr570 CrSign in free for the trailing twelve months
OPM %26.2%26.6%27.2%26.7%27.4%Sign in free for the trailing twelve months
Other income18 Cr14 Cr44 Cr46 Cr44 CrSign in free for the trailing twelve months
Interest45 Cr72 Cr96 Cr109 Cr90 CrSign in free for the trailing twelve months
Depreciation98 Cr128 Cr170 Cr231 Cr276 CrSign in free for the trailing twelve months
Profit before tax57 Cr84 Cr141 Cr160 Cr249 CrSign in free for the trailing twelve months
Tax %24.0%-23.5%32.4%31.0%32.4%Sign in free for the trailing twelve months
Net profit43 Cr103 Cr95 Cr110 Cr168 CrSign in free for the trailing twelve months
EPS (₹)₹1.83₹4.01₹3.14₹2.80₹4.21Sign in free for the trailing twelve months
Dividend payout %———0.7%0.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital7 Cr8 Cr9 Cr32 Cr32 Cr
Reserves206 Cr622 Cr1,330 Cr1,835 Cr1,994 Cr
Borrowings290 Cr356 Cr388 Cr247 Cr157 Cr
Other liabilities502 Cr810 Cr986 Cr1,498 Cr1,665 Cr
Total liabilities1,026 Cr1,825 Cr2,753 Cr3,672 Cr3,942 Cr
Fixed assets (net)208 Cr343 Cr498 Cr708 Cr926 Cr
CWIP28 Cr98 Cr114 Cr144 Cr234 Cr
Investments—34 Cr471 Cr264 Cr152 Cr
Inventories33 Cr36 Cr52 Cr80 Cr94 Cr
Trade receivables57 Cr76 Cr97 Cr124 Cr161 Cr
Cash & bank100 Cr127 Cr112 Cr104 Cr91 Cr
Other assets600 Cr1,112 Cr1,409 Cr2,249 Cr2,283 Cr
Total assets1,026 Cr1,825 Cr2,753 Cr3,672 Cr3,942 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity164 Cr233 Cr346 Cr360 Cr519 Cr
Cash from investing-155 Cr-509 Cr-914 Cr-750 Cr-308 Cr
Cash from financing35 Cr303 Cr553 Cr382 Cr-220 Cr
Net cash flow44 Cr27 Cr-15 Cr-8 Cr-10 Cr
Free cash flow (OCF − Capex)95 Cr76 Cr118 Cr39 Cr58 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.5%15.3%13.4%12.4%14.9%
ROE %16.1%14.3%6.0%4.3%6.3%
Debtor days3027272628
Inventory days109837444175242476139799
Days payable2972320926448944721263175
Cash conversion cycle-18711-13454-27344-22424-23348
OCF / EBITDA %90.2%86.2%95.5%79.0%91.1%
OCF / EBITDA % (3 years)——91.2%86.3%88.3%
Debt / equity1.370.570.290.130.08
Current ratio1.101.031.901.661.24
Net debt / EBITDA1.050.850.760.310.12