Dr. Agarwal's Health Care Reports 71% Jump in Q2 Net Profit, Crosses ₹1,000 Crore Half-Yearly Revenue Milestone

2 min read     Updated on 30 Oct 2025, 07:52 PM
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Overview

Dr. Agarwal's Health Care Limited, India's largest eye care service chain by revenue, reported robust Q2 FY2026 results. Total income rose 18.2% YoY to ₹507.00 crores, with revenue from operations up 19.7% to ₹499.00 crores. EBITDA grew 21.2% to ₹144.00 crores, while net profit surged 71.0% to ₹36.00 crores. For H1 FY2026, total income crossed ₹1,000 crores, growing 20.2% YoY. The company expanded its network to 258 eye care facilities, adding 24 new centers in H1. It performed 157,281 surgeries, up 14.6% YoY, and served over 1.4 million patients. CEO Dr. Adil Agarwal expressed confidence in meeting annual guidance, citing resilient demand and expansion plans.

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*this image is generated using AI for illustrative purposes only.

Dr. Agarwal's Health Care Limited , India's largest eye care service chain by revenue, has reported a robust financial performance for the second quarter of fiscal year 2026, with significant growth in both revenue and profitability.

Q2 FY2026 Highlights

  • Total Income: ₹507.00 crores, up 18.2% year-over-year (YoY)
  • Revenue from Operations: ₹499.00 crores, a 19.7% YoY increase
  • EBITDA: ₹144.00 crores, growing 21.2% YoY with a margin of 28.4%
  • Net Profit: ₹36.00 crores, surging 71.0% YoY with a margin of 7.2%

H1 FY2026 Performance

The company's half-yearly results were equally impressive:

  • Total Income crossed the ₹1,000 crore milestone, reaching ₹1,007.00 crores, a 20.2% YoY growth
  • EBITDA stood at ₹285.00 crores, up 24.9% YoY with a margin of 28.3%
  • Net Profit soared to ₹75.00 crores, an 88.4% YoY increase with a margin of 7.4%

Operational Highlights

Dr. Agarwal's Health Care continued its expansion strategy:

  • Network expanded to 258 eye care facilities as of September 30, 2025
  • Added 24 new centers during H1 FY2026, including 1 tertiary, 13 secondary, and 10 primary facilities
  • Performed 157,281 surgeries in H1 FY2026, a 14.6% YoY increase
  • Served over 1.4 million patients, supported by a team of 880+ doctors

Financial Performance Breakdown

Metric (in ₹ Crores) Q2 FY2026 Q2 FY2025 YoY Growth
Total Income 507.00 428.00 18.2%
Revenue from Operations 499.00 417.00 19.7%
EBITDA 144.00 119.00 21.2%
Net Profit 36.00 21.00 71.0%

Management Commentary

Dr. Adil Agarwal, CEO of Dr. Agarwal's Health Care Limited, commented on the results: "The company delivered a steady performance in the first half of FY2026, crossing the INR 1,000 Cr Total Income milestone for the first time — marking a significant achievement in its growth journey. While topline growth moderated compared to the previous quarter due to festivities and heavy rainfall, margins strengthened, demonstrating continued focus on profitability and operational excellence."

He added, "Our recent entry into the Delhi market has seen encouraging traction, and we plan to further accelerate our expansion across North India. We remain confident of meeting our annual guidance, driven by resilient demand and the momentum in our expansion plans."

Future Outlook

The company expects the momentum to build further through FY2026, as the second half of the year typically delivers stronger performance. With its expanding network and focus on operational efficiency, Dr. Agarwal's Health Care appears well-positioned to capitalize on the growing demand for quality eye care services in India and Africa.

Investors and analysts will be watching closely to see if the company can maintain its growth trajectory and continue to improve its profitability in the coming quarters.

Dr Agarwal's Health Care and Eye Hospital Announce Merger Amidst Share Price Decline

1 min read     Updated on 29 Aug 2025, 08:29 AM
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Overview

Dr. Agarwal's Health Care Ltd. (AHCL) and Dr. Agarwal's Eye Hospital (AEHL) have approved a merger, with AEHL merging into AHCL. The merger terms include AHCL issuing 23 new equity shares for every two AEHL shares. AHCL currently holds a 71.9% stake in AEHL. Additionally, AHCL's board approved a preferential share issue worth ₹70.00 crore at ₹5,270.00 per share. Despite the merger news, both companies' share prices declined on Thursday. Morgan Stanley maintains an 'Overweight' rating on AHCL with a price target of ₹494.00, citing potential operational streamlining and enhanced shareholder value.

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*this image is generated using AI for illustrative purposes only.

Dr. Agarwal's Health Care Ltd. (AHCL) and Dr. Agarwal's Eye Hospital (AEHL) have announced a significant corporate restructuring, with their respective boards approving a merger of AEHL into AHCL. This strategic move comes as AHCL aims to streamline operations and enhance shareholder value.

Merger Details

The merger terms stipulate that AHCL will issue 23 new equity shares for every two AEHL shares held by shareholders. Currently, AHCL holds a 71.9% stake in AEHL, which contributed 23% to the parent company's profit after tax in the first quarter.

Additional Capital Raise

In conjunction with the merger announcement, AHCL's board has approved a preferential share issue worth ₹70.00 crore at ₹5,270.00 per share. This move is likely aimed at strengthening the company's financial position as it undergoes this significant restructuring.

Market Reaction

Despite the positive merger news, both companies experienced a decline in their share prices on Thursday:

Company Price Change
AEHL -13.50%
AHCL -4.60%

This market reaction suggests that investors may be cautious about the short-term implications of the merger.

Analyst Perspective

Morgan Stanley maintains an 'Overweight' rating on AHCL with a price target of ₹494.00. The brokerage firm cites the merger's potential for operational streamlining and enhanced shareholder value as key factors in their positive outlook.

Morgan Stanley also noted that the trailing acquisition EV/EBITDA multiple of 22x represents a 14% discount to the hospital sector average, potentially indicating an attractive valuation.

Upcoming Investor Events

According to recent company disclosures, AHCL's senior management will be participating in several investor conferences and roadshows in the coming days:

  • September 2: Motilal Oswal 21st Annual Global Investor Conference in Mumbai
  • September 8: Kotak Securities roadshow in Hong Kong
  • September 9: BofA Securities 2025 Asia Pacific Conference in Hong Kong

These events may provide further insights into the merger and the company's future plans.

Conclusion

The merger between Dr. Agarwal's Health Care and Dr. Agarwal's Eye Hospital represents a significant development in the Indian healthcare sector. While the market's initial reaction has been cautious, the long-term implications of this consolidation remain to be seen. Investors and industry observers will be closely watching how this merger unfolds and its impact on the company's operational efficiency and market position.

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