Dr. Agarwal's Health Care Q1FY27 PAT rises 44.6% to ₹55 crore
Dr. Agarwal's Health Care posted a 44.6% rise in Q1FY27 PAT to ₹55 crore, supported by 26% revenue growth to ₹614 crore and EBITDA margin expansion to 28.5%. The company added 18 new facilities, reaching 304 total, and saw double-digit growth in specialized surgeries.
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Dr. Agarwal's Health Care reported a 44.6% year-on-year surge in consolidated net profit to ₹55 crore for Q1FY27, driven by robust revenue growth of 26% to ₹614 crore. The eye care chain strengthened its operational footing by expanding its network to 304 facilities across 10 countries and executing its largest-ever quarterly expansion of surgical centers. The results reflect improved operating leverage and significant growth in high-margin specialized procedures.
Q1FY27 Financial Performance
The Board of Directors, meeting on August 04, 2026, approved unaudited consolidated financial results showing significant top-line and bottom-line improvements. Revenue from operations grew to ₹614 crore from ₹487 crore in Q1FY26. Total income rose 23.9% to ₹620 crore. Profit after tax (PAT) climbed to ₹55 crore from ₹38 crore, with PAT margins expanding to 8.9% from 7.6%. EBITDA increased by 25.2% to ₹177 crore, reflecting disciplined cost management despite aggressive greenfield investments. EBITDA margins widened to 28.5% from 28.2%, a gain of 30 basis points.
| Metric: | Q1FY27 | Q1FY26 | YoY Growth |
|---|---|---|---|
| Revenue from Operations: | ₹614 crore | ₹487 crore | 26.0% |
| EBITDA: | ₹177 crore | ₹141 crore | 25.2% |
| EBITDA Margin: | 28.5% | 28.2% | +30 bps |
| Profit After Tax: | ₹55 crore | ₹38 crore | 44.6% |
Operational Expansion and Network Growth
As of June 30, 2026, the company’s network expanded to 304 facilities, adding 18 new facilities during the quarter while closing two primary centers in Janipur (Jammu) and Zirakpur (Punjab). This included a record 16 new surgical facilities. The company performed 91,082 surgeries, a 15.5% year-on-year increase from 78,882 in Q1FY26. Cataract surgeries accounted for 67,444 procedures, while refractive surgeries grew to 3,998. The company served over 8.8 lakh patients with a team of 1,057 doctors. CEO Dr. Adil Agarwal highlighted that greenfield losses were contained despite launching 23 surgical facilities in the preceding six months.
Specialized surgical procedures showed strong momentum:
- Femto Cataracts: 1,548 procedures (33.4% YoY growth)
- Lenticular Procedures: 1,712 procedures (36.2% YoY growth)
- Retinal Surgeries: 3,861 procedures (30.0% YoY growth)
- Anterior Segment Reconstruction: 286 procedures (15.8% YoY growth)
- Corneal Transplants: 589 procedures (10.1% YoY growth)
Corporate Governance and Strategic Moves
The Board appointed M/s. S.R. Batliboi & Associates LLP as Statutory Auditors until the conclusion of the 20th AGM, filling a casual vacancy left by Deloitte Haskins & Sells. Additionally, KPMG Assurance and Consulting Services LLP was appointed as Internal Auditors for FY2027-28, and B Y & Associates was re-appointed as Cost Auditors. Strategically, the company proposed incorporating a wholly owned subsidiary in Nigeria through its Mauritius entity, Orbit Healthcare Services, subject to regulatory approvals.
What the Numbers Show
The divergence between revenue growth (26%) and EBITDA growth (25.2%) alongside margin expansion indicates effective operating leverage. The significant rise in PAT (44.6%) outpacing EBITDA growth suggests favorable tax dynamics or lower interest expenses relative to earnings. The growth in specialized high-margin procedures like Femto Cataracts and Retinal Surgeries supports the margin expansion narrative, demonstrating successful clinical innovation adoption across the network.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE943P01029/6514478a-a9d6-44f1-aa7f-3b01c09570b0.pdf
Historical Stock Returns for Dr. Agarwal's Health Care
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.89% | +3.41% | +3.11% | +10.49% | +8.14% | +22.61% |
How will the proposed expansion into Nigeria via the Mauritius entity impact Dr. Agarwal's long-term revenue diversification and regulatory risk profile?
Can the company sustain its EBITDA margin expansion of 30 basis points as it continues aggressive greenfield investments in new surgical centers?
What is the expected timeline for newly opened greenfield facilities to break even, given the recent containment of losses despite launching 23 facilities?
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