Dr Agarwals Health Care
- P/E
- 111.62
Key Fundamentals
SmallcapHealthcare ServicesHealthcarePrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 10.90%
- Debt to Equity
- 0.53
- EPS (TTM)
- ₹4.69
- Book Value
- ₹63.87
- Market Cap
- —
- P/E (TTM)
- 111.62
- P/B
- 8.20
- ROE
- 5.99%
- Dividend Yield
- 0.00%
- EBITDA
- ₹614 Cr
- 52W High
- ₹567.75
- 52W Low
- ₹401.00
- Day Range
- ₹509.00 – ₹529.35
- Volume
- 2,57,165
Peer Comparison
Healthcare › Healthcare Services › Hospitals › Hospital
| ₹8,599.50 | 59.18 | ₹1,22,850 Cr | 13.04 | 0.24% | 21.20% | 17.40% | ₹26,430 Cr | ₹2,171 Cr | |
| ₹927.15 | 61.89 | ₹89,301 Cr | 7.96 | 0.22% | 14.70% | 14.70% | ₹8,712 Cr | ₹1,457 Cr | |
| ₹667.20 | 88.96 | ₹86,479 Cr | 5.34 | 0.00% | 6.64% | 8.30% | ₹11,400 Cr | ₹906 Cr | |
| ₹719.55 | 117.00 | ₹59,927 Cr | 14.91 | 0.44% | 11.30% | 11.60% | ₹4,876 Cr | ₹363 Cr | |
| ₹790.65 | 56.96 | ₹59,706 Cr | 6.03 | 0.13% | 11.20% | 13.40% | ₹9,506 Cr | ₹1,070 Cr | |
| ₹1,931.50 | 48.36 | ₹39,090 Cr | 7.89 | 0.24% | 20.50% | 15.50% | ₹9,072 Cr | ₹816 Cr | |
| ₹1,402.00 | 67.76 | ₹37,618 Cr | 9.52 | 0.04% | 15.20% | 17.40% | ₹4,683 Cr | ₹552 Cr | |
| Dr Agarwals Health Care (this company) | ₹523.50 | 111.62 | ₹16,542 Cr | 8.20 | 0.00% | 5.99% | 10.90% | ₹2,207 Cr | ₹185 Cr |
| Median 8 companies | ₹858.90 | 64.83 | ₹59,817 Cr | 8.08 | 0.18% | 13.00% | 14.05% | ₹8,892 Cr | ₹861 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 55
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 19
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 66
- Good
- Sales & profit trajectory 9% weight
- Financial Health
- 19
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 48
- Average
- Trend strength, vol-adjusted 12% weight
- Ownership
- 49
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
No strengths listed
Weaknesses
3- Stock is trading at 7.29 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 5.62% over last 3 years.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 4 | 2 | 13 |
| Oscillators | Bearish | 4 | 2 | 3 |
| Moving Averages | Strong Bullish | 0 | 0 | 10 |
Oscillators
Bearish
Overall
Strong Bullish
Moving Averages
Strong Bullish
Key readings
- RSI (14)
- 70.67
- Bearish
- MACD (12,26,9)
- 5.52
- Bullish
- SMA (50)
- 493.89
- Bullish
- SMA (200)
- 469.99
- Bullish
As of
Analyst Rating
5 of 5 analysts rate Buy, 0 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +34.59% |
|---|---|
| 3Y | +26.89% |
| 1Y | +21.57% |
| TTM | +22.95% |
Net profit
| 5Y | Turned to profit |
|---|---|
| 3Y | +17.71% |
| 1Y | +52.73% |
| TTM | +42.31% |
Operating cash flow
| 5Y | +39.29% |
|---|---|
| 3Y | +30.60% |
| 1Y | +45.38% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | +9.69 pp |
|---|---|
| 3Y | +0.73 pp |
| 1Y | +0.68 pp |
| TTM | +0.88 pp |
Revenue by year
| Mar 2020 | ₹531 Cr |
|---|---|
| Mar 2021 | ₹471 Cr |
| Mar 2022 | ₹696 Cr |
| Mar 2023 | ₹1,018 Cr |
| Mar 2024 | ₹1,332 Cr |
| Mar 2025 | ₹1,711 Cr |
| Mar 2026 | ₹2,080 Cr |
Net profit by year
| Mar 2020 | −₹21.00 Cr |
|---|---|
| Mar 2021 | −₹59.00 Cr |
| Mar 2022 | ₹43.00 Cr |
| Mar 2023 | ₹103 Cr |
| Mar 2024 | ₹95.00 Cr |
| Mar 2025 | ₹110 Cr |
| Mar 2026 | ₹168 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
Dr Agarwals Health Care Ltd trades at ₹513.85 as of 2026-11-02 with a market cap of ₹16,179 crore and a P/E of 109.56x on TTM earnings. The company shows strong revenue and profit growth momentum but carries an elevated valuation relative to its return on equity of 7.93% and pays no dividend.
- TTM profit growth of 43% indicates a sharp acceleration in earnings, well above the 3-year compounded profit growth of 9%
- Compounded sales growth of 27% over 3 years and 35% over 5 years reflects sustained top-line expansion in the eye-care hospital chain
- 5-year compounded profit growth of 33% demonstrates the company's ability to scale profitability over a longer horizon
- TTM revenue growth of 23% shows the business continues to expand at a healthy pace even on a larger base
- Debt-to-equity ratio of 0.53 is moderate, suggesting the balance sheet is not over-leveraged despite the company's expansion phase
- ROCE of 9.74% is trending above the 3-year and 5-year average ROE figures of 6-7%, hinting at improving capital efficiency
- The stock is trading about 9.5% below its 52-week high of ₹567.75, suggesting it has pulled back from recent peaks and is not at an extreme
- India's underpenetrated eye-care market and ageing demographics provide a structural tailwind for organised hospital chains with established brand recall
- P/E of 109.56x on TTM EPS of ₹4.69 is extremely elevated, leaving little room for execution missteps
- Price-to-book of 8.05x is high; the stock trades at over 7 times book value, which demands consistently superior returns on equity to justify
- ROE of 7.93% (and a 3-year average of roughly 6%) is low relative to the premium valuation, indicating the company is not yet generating high returns on shareholders' capital
- The company pays zero dividend despite reporting repeated profits, offering no income return to shareholders
- Stock CAGR of -15% over the past 1 year shows the market has materially de-rated the stock even as earnings grew
- 3-year compounded profit growth of only 9% contrasts with the high P/E, suggesting that the recent 43% TTM profit surge may not yet represent a durable trend
- 5-year average ROE of 7% is below the cost of equity for most investors, implying the business has historically struggled to create economic value above its capital cost
- At ₹16,179 crore market cap with TTM EPS of ₹4.69, any slowdown in the current growth trajectory could trigger a significant valuation re-rating downward
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Recent newsflow is limited to the NCLT-sanctioned amalgamation of Dr Agarwal's Eye Hospital into Dr Agarwal's Health Care, now effective November 1, 2026. With no earnings surprises, regulatory actions, or sector headwinds in the latest cycle, the near-term narrative hinges on post-merger integration execution and upcoming quarterly results.
- Eye hospital merger goes live Oct 20
Board approved the merger with Dr Agarwal's Eye Hospital Ltd effective November 1, 2026, with record date set for November 18. NCLT Chennai had sanctioned the amalgamation scheme on September 30, 2026, with an appointed date of April 1, 2026.
Quarterly Results
₹ Cr| Particulars | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 333 | 349 | 403 | 417 | 431 | 460 | 487 | 499 | 530 | 564 | 614 |
| Expenses | 244 | 241 | 300 | 310 | 316 | 329 | 360 | 363 | 386 | 403 | 444 |
| Operating Profit | 89 | 108 | 104 | 107 | 115 | 131 | 128 | 136 | 144 | 161 | 170 |
| OPM % | 27% | 31% | 26% | 26% | 27% | 28% | 26% | 27% | 27% | 29% | 28% |
| Other Income | 12 | 20 | 6 | 12 | 13 | 13 | 13 | 8 | 11 | 14 | 6 |
| Interest | 22 | 27 | 27 | 28 | 28 | 25 | 25 | 23 | 21 | 22 | 23 |
| Depreciation | 43 | 47 | 56 | 57 | 58 | 60 | 63 | 68 | 69 | 77 | 78 |
| PBT | 36 | 54 | 27 | 33 | 41 | 59 | 54 | 54 | 65 | 77 | 75 |
| Tax % | 37% | 24% | 33% | 36% | 31% | 27% | 29% | 32% | 33% | 35% | 27% |
| Net Profit | 23 | 41 | 18 | 21 | 28 | 43 | 38 | 36 | 44 | 50 | 55 |
| EPS (₹) | — | — | — | — | 0.72 | 1.03 | 0.95 | 0.94 | 1.07 | 1.25 | 1.43 |
Profit & Loss
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 531 | 471 | 696 | 1,018 | 1,332 | 1,711 | 2,080 | 2,207 |
| Expenses | 407 | 387 | 510 | 743 | 965 | 1,248 | 1,503 | 1,595 |
| Operating Profit | 124 | 85 | 186 | 275 | 367 | 463 | 577 | 612 |
| OPM % | 23% | 18% | 27% | 27% | 28% | 27% | 28% | 28% |
| Other Income | 13 | 6 | 17 | 14 | 44 | 43 | 44.44 | 39 |
| Interest | 54 | 44 | 49 | 76 | 101 | 115 | 98 | 89 |
| Depreciation | 93 | 95 | 98 | 128 | 170 | 231 | 276 | 292 |
| PBT | −11 | −48 | 57 | 84 | 141 | 160 | 249 | 270 |
| Tax % | 82% | 21% | 24% | −24% | 32% | 31% | 32% | — |
| Net Profit | −21 | −59 | 43 | 103 | 95 | 110 | 168 | 185 |
| EPS (₹) | — | — | — | — | — | 2.64 | 4.2 | 4.69 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | 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 |
| Borrowings | 162 | 185 | 633 | 857 | 966 | 961 | 1,066 |
| Other Liabilities | 339 | 417 | 179 | 336 | 445 | 837 | 849 |
| Total Liabilities | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 | 3,941 |
| Fixed Assets | 551 | 575 | 701 | 1,293 | 1,746 | 2,523 | 2,870 |
| CWIP | 8 | 11 | 28 | 99 | 118 | 153 | 244 |
| Investments | 1 | 0 | 0 | 34 | 471 | 264 | 152 |
| Other Assets | 192 | 201 | 295 | 397 | 416 | 724 | 675 |
| Total Assets | 751 | 787 | 1,025 | 1,823 | 2,751 | 3,665 | 3,941 |
Cash Flow
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 103 | 99 | 164 | 233 | 346 | 357 | 519 |
| Investing | −85 | −46 | −155 | −509 | −914 | −750 | −308 |
| Financing | −73 | −37 | 35 | 303 | 553 | 382 | −220 |
| Net Cash Flow | −56 | 17 | 44 | 27 | −15 | −11 | −10 |
| Free Cash Flow | −98 | 66 | 95 | 76 | 118 | 37 | 59 |
| CFO/EBITDA | 97 | 126 | 97 | 98 | 103 | 85 | 99 |
Ratios
| Particulars | 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 | 286 | 283 |
| Cash Conversion Cycle | −126 | −247 | −215 | −183 | −190 | −79 | −76 |
| Working Capital Days | −31 | −47 | −50 | −62 | −65 | −43 | −30 |
| ROCE % | — | −1% | 17% | 13% | 11% | 10% | 11% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Dr Agarwals Health Care insights
62 extracted metrics across FY20–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · May 2026Transcript PPT Recording
- Q3 FY26 concall · Feb 2026Transcript PPT Recording
- Q2 FY26 concall · Nov 2025Transcript PPT
- Q2 FY26 concall · Sep 2025Transcript PPT
- 15 Jun 2026
- 23 Feb 2026
- 9 Dec 2025
- 14 Oct 2025
- 4 Sep 2025
- General announcements 23 Oct 2026
Frequently Asked Questions about Dr Agarwals Health Care
What does Dr Agarwals Health Care Ltd do?
Where is Dr Agarwals Health Care Ltd (AGARWALEYE) listed?
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What is the PE ratio of Dr Agarwals Health Care Ltd?
What is the 52-week high and low of Dr Agarwals Health Care Ltd?
What is the Return on Equity (ROE) of Dr Agarwals Health Care Ltd?
Company Information
Incorporated in 2010, 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.
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