526783

Dr Agarwal's Eye share price & financials

Price
₹5,002.8
Market cap
₹2.6k Cr
Sector
Healthcare

What Dr Agarwal's Eye does

Dr. Agarwal's Eye Hospital Limited operates a chain of eye care hospitals and clinics predominantly across Tamil Nadu, providing cataract, refractive, corneal, vitreo-retinal and other ophthalmic surgeries alongside consultations, diagnostics and non-surgical treatments. It also earns from selling opticals, contact lenses, accessories and eye-care pharmaceutical products through the same facility network. The company runs an asset-light, leased-premises, hub-and-spoke model with Centres of Excellence anchoring tertiary care and smaller primary/secondary facilities feeding patients into them. It is a subsidiary of promoter entity Dr. Agarwal's Health Care Limited (AHCL), which holds a 71.9% stake, and a scheme to merge the two into a single listed entity was approved by the boards in August 2025.

Segments

  • Surgeries
  • Opticals, contact lenses, accessories & pharmaceutical products
  • Diagnosis, consultations & others
Total facilities
63 (as of June 2025)
Facility mix
32 Primary, 29 Secondary, 2 Tertiary (Q1 FY26)
Doctors
230+
Paramedics
475+
Patients served (FY25)
588,000+
Surgeries performed (FY25)
62,000+
Founded 1994Headquarters Chennai, Tamil Nadu, India Company website

Quarterly results

Q1 FY27: revenue up 22.2%, net profit up 35.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue102 95 100 117 118 +16%116 +22%120 +20%143 +22%
EBITDA30 26 32 37 40 +33%34 +31%34 +6%43 +16%
Net profit14 10 16 17 19 +36%17 +70%16 +0%23 +35%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +16.2% 1Y

₹4.5k₹5.0k₹5.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹4,570.5 on 10 Sept 2025 → ₹5,310. High ₹5,758.8 (1 Dec 2025), low ₹4,474.55 (6 Mar 2026).

Financials, as filed

Revenue grew 20.7% a year over 3 years, FY23 to FY26. Operating margin widened to 30.8%.

Year endingFY23FY24FY25FY26
Revenue₹268 Cr₹320 Cr₹397 Cr₹471 Cr
Operating profit₹75 Cr₹91 Cr₹119 Cr₹145 Cr
Operating margin28.0%28.4%30.0%30.8%
Interest₹7 Cr₹8 Cr₹14 Cr₹12 Cr
Depreciation₹21 Cr₹27 Cr₹39 Cr₹46 Cr
Net profit₹37 Cr₹47 Cr₹54 Cr₹69 Cr
Net margin13.8%14.7%13.6%14.6%
Cash from operations₹70 Cr₹90 Cr₹94 Cr₹145 Cr
Free cash flow₹-1 Cr₹19 Cr₹-8 Cr₹47 Cr
ROCE19.0%18.0%18.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5 Cr₹5 Cr₹5 Cr₹5 Cr₹5 Cr₹5 Cr
Reserves₹50 Cr₹73 Cr₹109 Cr₹152 Cr₹310 Cr₹341 Cr
Borrowings₹68 Cr₹193 Cr₹232 Cr₹268 Cr₹335 Cr₹326 Cr
Other liabilities₹33 Cr₹42 Cr₹44 Cr₹71 Cr₹79 Cr₹94 Cr
Total liabilities₹155 Cr₹314 Cr₹390 Cr₹496 Cr₹729 Cr₹766 Cr
Fixed assets₹96 Cr₹214 Cr₹260 Cr₹316 Cr₹409 Cr₹403 Cr
Capital work in progress₹0 Cr₹26 Cr₹62 Cr₹97 Cr₹157 Cr₹197 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹85 Cr₹89 Cr
Other assets₹60 Cr₹73 Cr₹67 Cr₹83 Cr₹79 Cr₹78 Cr
Total assets₹155 Cr₹314 Cr₹390 Cr₹496 Cr₹729 Cr₹766 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −1.26 pp while promoters added +0.77 pp. The shareholder count shrank 36% to 22,954.

Promoters
72.7%
FIIs
2.2%
DIIs
2.0%
Public
23.0%

Since Jun 2025

  • Public −1.26 pp
  • Promoters +0.77 pp
  • FIIs +0.75 pp

How it drifted, 12 quarters

Over this window the public fell from 27.8% to 23.0% — −4.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 71.9%, FIIs 0.3%, Public 27.8%.Dec '23: Promoters 71.9%, FIIs 0.6%, Public 27.5%.Mar '24: Promoters 71.9%, FIIs 0.6%, Public 27.5%.Jun '24: Promoters 71.9%, FIIs 0.7%, Public 27.5%.Sep '24: Promoters 71.9%, FIIs 0.8%, DIIs 1.0%, Public 26.3%.Dec '24: Promoters 71.9%, FIIs 0.8%, DIIs 1.0%, Public 26.2%.Mar '25: Promoters 71.9%, FIIs 1.3%, DIIs 1.9%, Public 24.8%.Jun '25: Promoters 71.9%, FIIs 1.5%, DIIs 2.3%, Public 24.3%.Sep '25: Promoters 72.7%, FIIs 1.7%, DIIs 2.4%, Public 23.2%.Dec '25: Promoters 72.7%, FIIs 1.8%, DIIs 2.4%, Public 23.1%.Mar '26: Promoters 72.7%, FIIs 2.2%, DIIs 2.1%, Public 23.0%.Jun '26: Promoters 72.7%, FIIs 2.2%, DIIs 2.0%, Public 23.0%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Dr Agarwal's Eye above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Dr. Agarwal'S Health Care Limited 72.67%unchanged
Investor Education And Protection Fund Authority Ministry Of Corporate Affairs 2.70%−0.06 pp
Malabar India Fund Limited FPI fund2.16%unchanged
Varun Ashok Hiremath 2.11%unchanged
Malabar Midcap Fund VC / PE1.66%unchanged
Dr. Anosh Agarwal 0.00%unchanged
Dr. Athiya Agarwal 0.00%unchanged
Dr. Ashar Agarwal 0.00%unchanged
Dr. Ashvin Agarwal 0.00%unchanged
Eye Research Centre Foundation 0.00%unchanged
My Happy Place Private Limited 0.00%unchanged
Dr Agarwal'S Enterprise 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Fair

To justify its price of ₹5310, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~23%. At that growth it is worth ₹5019 — downside of 5%.

Growth the price implies
24.1% a year
for 7 years, fading to 4%
It has actually compounded at
23.1% a year
net profit, FY23–FY26 · EPS 23.0%
The gap
0.0 pp
-5% downside if it only repeats history
Price today ₹5,310 Value at the reference growth ₹5,018.79

Change the assumptions yourself →

Learn to analyse Dr Agarwal's Eye

Guides on how to read this kind of business and the numbers that matter.