Dr. Agarwal's Health Care Limited , a leading eye care hospital chain, has reported robust financial performance for the first half of fiscal year 2026, marking significant growth across key metrics.

Financial Highlights

The company achieved a milestone by crossing the INR 1,000 crore revenue mark for the first time in H1 FY26. Here's a breakdown of the key financial metrics:

The company's EBITDA margin improved by 100 basis points to 28.30%, while PAT margin expanded by 270 basis points to 7.20%.

Operational Performance

Dr. Agarwal's Health Care expanded its network significantly during H1 FY26:

• Served over 14.3 lakh patients
• Performed nearly 157,000 surgeries
• Added 24 new Greenfield facilities
• Total network reached 258 facilities across 239 locations in India

The company's presence is now well-diversified with 31% of facilities in Tier 1 cities, 62% in other cities, and 7% located internationally.

Surgical Advancements

The company reported strong growth in specialized surgical procedures:

• High-end cataract surgeries increased by 41.70% year-on-year
• Robotic cataract surgeries grew by 69.00%
• Lenticular procedures (SMILE surgeries) increased by 11.50%
• Retinal surgeries rose by 23.00%

Regional Performance

• Southern Region: Contributed 64% of total group revenues, growing by 22.20% year-on-year to INR 635.00 crores
• Western Region: Contributed 15.20% of overall group revenues, growing by 16.60% to INR 150.00 crores
• Northern Region: Contributed 7.30% of group revenues, growing by 14.20% to INR 72.00 crores

Future Outlook

The company plans to launch 30 more facilities in the remaining quarters of FY26, with a focus on expanding its presence in Delhi-NCR and other key markets.

Dr. Adil Agarwal, CEO of Dr. Agarwal's Health Care Limited, commented, "Our continued emphasis on operational efficiencies and disciplined execution has enabled us to close the first half on a strong note despite the impact of festivities and unexpected rainfalls across parts of India."

The company remains optimistic about its growth trajectory, expecting H2 to be stronger than H1, driven by its expansion plans and focus on advanced surgical procedures.

Dr. Agarwal's Health Care Limited , India's largest eye care service chain by revenue from operations, has reported robust financial results for the first half of fiscal year 2026, along with efficient utilization of its Initial Public Offer (IPO) proceeds. The company has also approved new stock option grants and allotted shares under its Employee Stock Option Scheme.

Financial Highlights

The company has achieved significant growth in the first half of FY2026:

• Total Income surged by 20.2% year-over-year to INR 1,007.00 crores
• EBITDA grew by 24.9% to INR 285.00 crores, with margins expanding to 28.3%
• Profit After Tax (PAT) soared by 88.4% to INR 75.00 crores

For the quarter ended September 30, 2025 (Q2 FY2026), the company reported:

• Total Income of INR 507.00 crores, up 18.2% year-over-year
• Revenue from Operations of INR 499.00 crores, a 19.7% increase
• EBITDA of INR 144.00 crores, growing 21.2% with margins of 28.4%
• PAT of INR 36.00 crores, a substantial 71.0% rise

Operational Performance

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

• Network grew to 258 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% increase year-over-year
• Served over 14 lakh patients, supported by a team of 880+ doctors

IPO Proceeds Utilization

The company has efficiently utilized the proceeds from its IPO held from January 29-31, 2025:

The unutilized amount of INR 43.00 crores has been invested in fixed deposits.

Employee Stock Option Scheme

The company's Nomination and Remuneration Committee has approved the grant of 265,000 stock options under its Employee Stock Option Scheme 2022 to eligible employees of the company and its subsidiaries. Additionally, the company has allotted 12,523 equity shares of face value INR 1 each to employees who exercised their vested options.

Key features of the ESOP scheme include:

• A three-year vesting schedule with 50% of options vesting after one year, 25% after two years, and 25% after three years
• Exercise price based on fair market value with a potential discount of up to 20%
• Aims to reward employee performance, motivate contribution to company growth and profitability, and retain talent

Following this allotment, the company's paid-up equity share capital has increased from INR 31,61,58,357 to INR 31,61,70,880.

Management Commentary

Dr. Adil Agarwal, CEO of Dr. Agarwal's Health Care Limited, commented on the performance: "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 our 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, focus on operational efficiency, and initiatives to motivate and retain talent through the ESOP scheme, Dr. Agarwal's Health Care Limited appears well-positioned to capitalize on the growing demand for quality eye care services in India and Africa.

Investors and stakeholders can look forward to the company's continued growth trajectory, efficient capital utilization, and employee-centric approach as it expands its presence in both existing and new markets.