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Dr. Agarwal's Health Care Ltd.
(AGARWALEYE)
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Rating:63Neutral
Price Target:
₹532.00
▲(6.40% Upside)
Action:Reiterated
Date:08/23/26
The score is primarily supported by solid financial performance (strong growth and improved leverage), but is capped by weak cash conversion and meaningful margin volatility. Technicals are supportive on a medium/long-term basis but lack strong near-term momentum. Valuation is the largest negative factor due to the very high P/E and no provided dividend yield.
Positive Factors
Strong Revenue Scaling
Sustained revenue expansion indicates increasing patient demand and successful scaling of the hospital and clinic network. Continued growth can improve infrastructure utilization, strengthen brand reach, and support operating leverage over the next several years.
Negative Factors
Gross Margin Volatility
Sharp gross-margin compression signals uncertainty around procedure mix, pricing, staffing, or treatment costs. If persistent, it could limit the benefit of revenue growth and make earnings quality less predictable across the company’s network.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Scaling
Sustained revenue expansion indicates increasing patient demand and successful scaling of the hospital and clinic network. Continued growth can improve infrastructure utilization, strengthen brand reach, and support operating leverage over the next several years.
Read all positive factors
Dr. Agarwal's Health Care Ltd. (AGARWALEYE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹154.46B
Dividend YieldN/A
Average Volume (3M)28.25K
Price to Earnings (P/E)104.2
Beta (1Y)0.66
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees4,214
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)4.69
Shares Outstanding317,026,180
10 Day Avg. Volume16,125
30 Day Avg. Volume28,247
Financial Highlights & Ratios
PEG Ratio1.92
Price to Book (P/B)6.35
Price to Sales (P/S)6.18
P/FCF Ratio188.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.89
Revenue Forecast (FY)₹25.51B
Dr. Agarwal's Health Care Ltd. Business Overview & Revenue Model
Company Description
Dr. Agarwal's Health Care Limited manages a chain of eye hospitals both within India and abroad. The company delivers a comprehensive range of ophthalmic services, including advanced surgical solutions for cataracts like small incision, phacoemuls...
How the Company Makes Money
The company primarily generates revenue by delivering paid eye-care services through its hospitals and clinics. Key revenue streams include: (1) Outpatient services: fees from doctor consultations, eye examinations, diagnostic tests (e.g., imaging...
Dr. Agarwal's Health Care Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.07B | 20.80B | 17.11B | 13.32B | 10.16B | 6.95B |
| Gross Profit | 8.95B | 6.48B | 9.91B | 5.66B | 4.58B | 3.10B |
| EBITDA | 6.37B | 5.70B | 4.99B | 4.50B | 2.84B | 1.96B |
| Net Income | 1.48B | 1.33B | 834.60M | 830.60M | 940.97M | 376.94M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 39.42B | 36.72B | 27.83B | 18.25B | 10.26B |
| Cash, Cash Equivalents and Short-Term Investments | 2.84B | 2.82B | 5.22B | 5.87B | 1.61B | 996.21M |
| Total Debt | 0.00 | 10.66B | 9.61B | 9.68B | 8.57B | 6.19B |
| Total Liabilities | -21.20B | 18.22B | 17.45B | 13.89B | 11.66B | 7.92B |
| Stockholders Equity | 21.20B | 20.25B | 18.67B | 13.48B | 6.30B | 2.12B |
Cash Flow | ||||||
| Free Cash Flow | 495.00M | 683.80M | 227.90M | 1.14B | 753.05M | 937.40M |
| Operating Cash Flow | 2.62B | 5.16B | 3.31B | 3.46B | 2.33B | 1.64B |
| Investing Cash Flow | -1.36B | -3.14B | -7.54B | -9.14B | -5.09B | -1.55B |
| Financing Cash Flow | -1.32B | -2.12B | 4.14B | 5.53B | 3.03B | 354.33M |
Dr. Agarwal's Health Care Ltd. Technical Analysis
Negative
500.00
Price Trends
503.35
Negative
486.29
Positive
472.51
Positive
Market Momentum
-3.96
Positive
41.71
Neutral
35.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AGARWALEYE, the sentiment is Negative. The current price of 500 is below the 20-day moving average (MA) of 502.22, below the 50-day MA of 503.35, and above the 200-day MA of 472.51, indicating a neutral trend. The MACD of -3.96 indicates Positive momentum. The RSI at 41.71 is Neutral, neither overbought nor oversold. The STOCH value of 35.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AGARWALEYE.
Dr. Agarwal's Health Care Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹365.14B | 65.56 | ― | 0.07% | 21.27% | 4.09% | |
63 Neutral | ₹154.46B | 104.19 | ― | ― | ― | ― | |
60 Neutral | ₹593.32B | 56.56 | ― | 0.13% | 17.50% | 20.65% | |
59 Neutral | ₹1.17T | 55.96 | ― | 0.25% | 17.20% | 32.79% | |
55 Neutral | ₹919.63B | 62.86 | ― | 0.21% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | ₹2.39B | 1,452.50 | ― | 0.59% | 14.08% | -77.40% |
* General Sector Average
IN:AGARWALEYE
Dr. Agarwal's Health Care Ltd.
487.20
-12.25
-2.45%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
8,116.00
691.42
9.31%
IN:FORTIS
Fortis Healthcare Ltd.
785.90
-193.16
-19.73%
IN:LOTUSEYE
Lotus Eye Hospital And Institute Ltd
114.95
-6.65
-5.47%
IN:MAXHEALTH
Max Healthcare Institute Ltd
944.85
-122.30
-11.46%
IN:MEDANTA
Global Health Limited
1,358.05
30.42
2.29%
Dr. Agarwal's Health Care Ltd. Corporate Events
Dr. Agarwal’s Health Care Secured Creditors Weigh Eye Hospital Amalgamation
Jul 2, 2026
Dr. Agarwal’s Health Care Ltd. convened a court-mandated meeting of its secured creditors in Chennai on July 2, 2026, to consider a scheme of amalgamation with Dr. Agarwal’s Eye Hospital Ltd. The meeting, chaired by an NCLT-appointed c...
Secured Creditors Clear Merger Plan for Dr. Agarwal’s Health Care
Jul 2, 2026
Dr. Agarwal’s Health Care Limited operates in the healthcare sector, focusing on eye care services through its network of Dr. Agarwal’s Eye Hospital facilities. The company serves patients in India with specialized ophthalmic treatment...
Dr. Agarwal’s Health Care Details NCLT-Creditor Meeting on Eye Hospital Merger
Jul 2, 2026
Dr. Agarwal’s Health Care Ltd. has reported on the proceedings of a National Company Law Tribunal convened meeting of its unsecured creditors held in Chennai on July 2, 2026. The session was called to consider a scheme of amalgamation that w...
Dr. Agarwal’s Health Care Unsecured Creditors Approve Amalgamation Scheme
Jul 2, 2026
Dr. Agarwal’s Health Care Limited has reported the voting results of the National Company Law Tribunal-convened meeting of its unsecured creditors, held on July 2, 2026 in Chennai, to consider a scheme of amalgamation with Dr. Agarwal’...
Dr. Agarwal’s Health Care Shareholders Clear Key Step in Eye-Hospital Amalgamation
Jul 2, 2026
Dr. Agarwal’s Health Care Ltd. convened a meeting of its equity shareholders on July 2, 2026 in Chennai, as directed by the National Company Law Tribunal, to consider a scheme of amalgamation with Dr. Agarwal’s Eye Hospital Ltd. The se...
Dr. Agarwal’s Health Care Closes Trading Window Ahead of Quarterly Results
Jun 20, 2026
Dr. Agarwal’s Health Care Ltd. has announced that its trading window for designated persons and their immediate relatives will be closed from June 30, 2026, in line with its code of conduct and SEBI’s insider trading regulations. The w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.