| Revenue growth | Q2 revenue +31.4% YoY, +6.7% QoQ; H1 +28.7% YoY to ₹1,269 Cr. |
|---|---|
| Margins | India EBITDA margin flat ~28%; PAT margin up ~130bps YoY. |
| Demand visibility | H1 volumes up 19%; cataract and refractive ~20%; no forward demand figures. |
| Management confidence | Over-optimistic: superlatives ('stellar', 'phenomenal') despite flat EBITDA margins. |
Growth
India revenue +28.5% YoY: volume 8%, value 9.5%, remainder from new centres (~11 pts). Q2 +6.7% QoQ.
Outlook
Capex raised to ₹500 Cr; 65 facilities in FY27 (55 surgical), 26 in H2. No revenue or PAT growth guidance given.
Risks
Startup losses from 51 new facilities; flat margins; finance cost ₹46 Cr; Delhi acquisition margin (~53%) looks like an outlier.
Last quarter's promises, checked
Delivered
- Q2 launches guided 12 → delivered 21 (19 greenfield) (= BEAT)
- H1 launches guided 30 (18+12) → delivered 39 (= BEAT)
Partly delivered
- FY27 60 facilities (40 surgical) → 39 done in H1, target now 65 (55 surgical); surgical split not disclosed (= PARTIAL)
- Delhi NCR 3-5 more facilities → 2 Delhi clinics acquired in Q2; greenfield count unclear (= PARTIAL)
Missed
- H2 launches guided 30 → now 26 (= MISS)
Earnings Call Transcript filed with NSE, NSE: AGARWALEYE. Summary written with AI assistance from the document.
Dr. Agarwals Health Care Ltd: key numbers
- Share price
- ₹511.70
- Market cap
- ₹16,222 Cr
- Revenue (annual)
- ₹2,080 Cr
- Net profit (annual)
- ₹133.2 Cr
- P/E (TTM)
- 109.3×Sector 54.5×
- Promoter holding
- 32.33%-0.01% QoQ
- FII holding
- 49.56%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Dr. Agarwals Health Care Ltd
All →Dr. Agarwals Health Care Employee Stock Options
Dr. Agarwal's Health Care allotted 54,728 equity shares to employees on exercise of ESOP 2022 options. Paid-up capital rose to 31,70,99,111 shares, with no cash consideration stated.
Dr. Agarwals Health Care Management Change
Dr Agarwals Health Care reports Mr. Amar Agarwal's redesignation from Chairman and Non-Executive Director to Executive Director, effective 1 November 2026. The change was approved at a board meeting held on 5 November 2026.
Dr. Agarwals Health Care Investor Presentation: Key Takeaways
Q2 FY27 revenue ₹655 Cr (+31.4% YoY) and PAT ₹57 Cr (+55.8%). H1 FY27 revenue ₹1,269 Cr (+28.7%), PAT ₹112 Cr (+50.1%). Strategy is aggressive facility expansion, with 65 FY27E additions.
Dr. Agarwals Health Care Financial Results
Dr. Agarwal's H1 FY27 revenue rose 28.7% to Rs 1,269 crore; PAT rose 50.1% to Rs 112 crore. Amar Agarwal's executive chairman appointment awaits postal ballot approval.
Dr. Agarwals Health Care Board Meeting Date
Dr. Agarwal's Health Care schedules a board meeting on November 5, 2026 to consider Q2 results. An earnings call follows at 6:30 PM IST that day.
Dr. Agarwals Health Care Merger & Restructuring Worth ₹711.2 Cr
Dr. Agarwals Health Care Limited has completed the merger of Dr. Agarwal's Eye Hospital Limited into itself for a total transaction value of ₹711.21 Crore.
- Value
- ₹711.2 Cr