AGARWALEYEHealthcare

Dr. Agarwal's Health Care Limited

Hospital · ISIN INE943P01029 · BSE 544350 · NSE EQ · FV ₹1
Last price
₹500
-0.96%today
What this company does

Dr. Agarwal's Health Care Limited operates in Hospital, part of the Healthcare sector. It booked ₹614 cr of revenue in its latest quarter (Q1 FY27) and kept 7.4% of sales as profit. It is the 9th largest of 9 Hospital companies we track, by market value.

In the report:
50out of 100
Equitytale Health Score
Mixed

Healthier than 50% of companies in Healthcare, on the 5 of 6 measures we could read for it. Each measure is ranked against the 116–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
46

At close. Not part of the score.

Profitability & returns35

How much profit it earns on the money it employs

Balance sheet46

How much it owes, and whether earnings cover the interest

Cash quality89

Whether reported profit actually arrives as cash

Valuation17

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 26% vs last year
Profit up 51% vs last year
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 7.4% net margin

What if I invest in AGARWALEYE?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from a generic assumption, not this company's history. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹500 -0.96%
latest close · 2026-09-17
52-wk low ₹47042 sessions so far52-wk high ₹568
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio87.4High
LowAverageHigh
P/B ratio7.83High
Below bookModerateHigh
EV / EBITDA22.5High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.9%Fair
WeakFairStrong ▸15%
Return on capital11.3%Fair
WeakFairStrong
Net margin7.4%Decent
ThinDecentStrong
EBITDA margin28.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.07Comfortable
LowModerateHigh ▸1
Interest cover4.2×Okay
RiskyOkayStrong ▸5×
Current ratio1.24Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹15,855 cr
Book value
₹64
EPS
₹1.43
latest quarter
Net debt
₹67 cr
owes more than its cash
Enterprise value
₹15,921 cr
EBITDA
₹707 cr
annualised
EBIT
₹394 cr
annualised
Operating margin
16.0%
Return on assets
4.6%
Earnings yield
1.14%
P/S
6.46
Sales / share
₹77.5
Tax rate
26.8%
Face value
₹1
Shares
31.7 cr
Working capital
₹111 cr
Current assets
₹573 cr
Current liabilities
₹461 cr
Delivery %
58.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹12₹20, midpoint ₹16

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹614 cr
Other Income₹6 cr
Total Income₹620 cr
Cost of Materials₹32 L
Purchases of Stock-in-Trade₹65 cr
Inventory Change (±)₹-6 cr
Employee Benefit Expense₹121 cr
Finance Costs₹23 cr
Depreciation & Amortisation₹78 cr
Other Expenses₹263 cr
Total Expenses₹545 cr
Profit before Tax₹75 cr
Tax Expense₹20 cr
Net Profit₹55 cr
Net margin on total income8.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹59 cr9.5%
Employee benefit expense₹121 cr19.5%
Finance costs₹23 cr3.8%
Depreciation & amortisation₹78 cr12.6%
Other expenses₹263 cr42.5%
Tax expense₹20 cr3.2%
Profit for the period₹55 cr8.9%
Total income ₹620 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue530 cr564 cr614 cr
Total income540 cr577 cr620 cr
Expenses476 cr501 cr545 cr
Profit before tax65 cr77 cr75 cr
Tax21 cr27 cr20 cr
Net profit (owners' share)34 cr40 cr45 cr
Net margin (owners' share, on revenue)6.4%7.0%7.4%
EPS (₹)1.071.251.43
YoY (latest quarter): total income +23.9% · net profit +50.5%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹3,942 cr
Shareholder equity
₹2,025 cr
parent shareholders
Total debt
₹157 cr
Cash
₹91 cr
Cash flow · H1 FY26
Operating
₹262 cr
Investing
₹-136 cr
Financing
₹-132 cr
Peer comparison
Hospital · by market value
CompanyPriceMarket capP/E
Apollo Hospitals Enterprise Limited₹8,769₹1.26 L cr54.3
Max Healthcare Institute Limited₹1,037₹1.01 L cr78.1
Manipal Health Enterprises Limited₹722₹85,125 cr92.0
Fortis Healthcare Limited₹886₹66,897 cr62.8
Aster DM Quality Care Limited₹761₹39,412 cr613.4
Global Health Limited₹1,424₹38,273 cr60.2
Narayana Hrudayalaya Ltd.₹1,869₹38,187 cr45.8
Krishna Institute of Medical Sciences Limited₹792₹33,258 cr190.3
Dr. Agarwal's Health Care Limitedthis company₹500₹15,855 cr87.4
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
32.3%
FII / Foreign
58.0%
DII / Domestic
7.7%
Retail / others
2.0%
Promoter stake down 0.1% over the last 7 quarters.
Smart-money activity
Bulk / block deals
short · NSE313 Sep 26
BoughtPOLAR CAPITAL FUNDS PLC-HEALTHCARE OPPORTUNITIES FUND · NSE36.26 L @ ₹50112 Aug 26
BoughtMARWADI CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED · NSE19.60 L @ ₹502.4612 Aug 26
Stake changes
BoughtCatalyst Trusteeship Limited→ 15.47% · 75.38 L21 Aug 26
BoughtICICI Prudential Mutual Fund→ 5.36% · 1.70 cr12 Aug 26
SoldHyperion Investments Pvt ltd→ 15.47% · 2.42 cr12 Aug 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 17 Dec 2025
See the official result
1
Appointment of M/s. S.R. Batliboi & Associates LLP, Chartered Accountants, as the Statutory Auditors of the Company to fill the casual vacancy caused by the resignation of M/s. Deloitte Haskins & Sells, Chartered Accountants
Backed by 100% of shareholders other than promotersneeded 50%
20.25 cr votes for, 489 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 58 named members
owning 32.3% between them · as of 2026-06-30
AMAR AGARWAL4.45%
ASHAR AGARWAL4.45%
ASHVIN AGARWAL4.45%
ATHIYA AGARWAL4.45%
ADIL AGARWAL4.43%
ADIL AGARWAL, ANOSH AGARWAL, ASHVIN AGARWAL4.27%
ANOSH AGARWAL4.23%
DR. AGARWAL'S EYE INSTITUTE (P) LIMITED1.37%
Business done with them
FY2025 · 10 of the group
The company paid ₹405 cr to companies in the promoter group last year — about 23.7% of its ₹1,711 cr revenue.
Dr. Anosh Agarwal
Other payments to them · Issue of CCPs to,Other perquisites,Post employee benefits (Contribution to Provident fund),Short-term employee benefits (Remuneration),Trade Payable
also owns 4.23% of the company
₹92 cr
company paid
Dr. Athiya Agarwal
Other payments to them · Issue of CCPs to,Post employee benefits (Contribution to Provident fund),Short-term employee benefits (Remuneration)
also owns 4.45% of the company
₹86 cr
company paid
Dr. Adil Agarwal
Other payments to them · Issue of CCPs to,Other perquisites,Post employee benefits (Contribution to Provident fund),Short-term employee benefits (Remuneration),Trade Payable
also owns 4.43% of the company
₹75 cr
company paid
Dr. Amar Agarwal
Other payments to them · Issue of CCPs to Post employee benefits (Contribution to Provident fund) Reimbursement of Expenses Short-term employee benefits (Remuneration) Trade Payable
also owns 4.45% of the company
₹74 cr
company paid
Dr. Agarwal's Eye Institute
Other payments to them · Issue of CCPs to,Loans,Rent Expenses,Sale of Asset,Trade Payable
₹67 cr
company paid
Ms. Urmila Agarwal
Other payments to them · Call Money on CCPS,Loans Receivable
₹3 cr
company paid
Ms Farah Agarwal
Other payments to them · Call Money on CCPS
₹3 cr
company paid
Dr. Ashar Agarwal
Other payments to them · Consultancy,Other perquisites,,Post employee benefits (Contribution to Provident fund),Rent Expenses,,Short-term employee benefits (Remuneration),Trade Payable
also owns 4.45% of the company
₹2 cr
company paid
Dr. Ashvin Agarwal
Other payments to them · Consultancy,,Reimbursement of Expenses,Rent Expenses
also owns 4.45% of the company
₹2 cr
company paid
Mr. Pankaj Sondhi
Contribution made to them · Advances Paid,Dividend paid,Other receivables
₹3 L
company paid

The company also transacted with 17 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹300 cr raised in Jan 2025 by selling shares to the public

As of Jun 2026, the company says it has spent 73% of what it set aside, leaving ₹33 cr still to be spent. ICRA Limited watches the spending on the exchange’s behalf.

Issue related expenses
46%
₹13 cr of ₹28 cr
General corporate purposes and unidentified inorganic acquisition
originally ₹77 cr
budget changed
81%
₹75 cr of ₹92 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.