Dr. Agarwal's Health Care Limited

NSE: AGARWALEYEHospital

Share price

₹471.00

-2.53% close of 8 Oct 2026

Market cap ₹15,072 CrP/E 101.8

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 8 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹15,072 Cr

P/E ratio

101.8

P/B ratio

7.4

ROCE

10.9%

ROE

6.0%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹560.7052-week low ₹406.55

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 22.9% over the past year, and 17.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 27.2% to 27.7% over the last two years.

Whether it grew faster than its sector

It grew 17.8% a year against a sector median of 13.1% — 4.7 percentage points faster.

Room to re-rate, or risk of de-rating

Too little price history yet to compare it with its own past.

Whether growth justifies the valuation

Priced at 11.3 times its growth rate, on earnings growth of 9%.

	Profit growth	Price per ₹1 profit	Per 1% growth
Dr. Agarwal's Health Care Limited — this one	9%/yr	101.8×	₹11.3
Apollo Hospitals	32%/yr	52.5×	₹1.6
MANIPALHOS	22%/yr	101.7×	₹4.6
Max Healthcare Institute	10%/yr	56.8×	₹5.7
Aster DM Healthcare Limited	-1%/yr	163.5×	—
Fortis Healthcare Limited	27%/yr	54.0×	₹2.0

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Hospital), it ranks 20 of 24 on returns, 10 of 23 on growth, 7 of 25 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 10.9% on capital, ahead of 17% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹1619 crore of cash from the business and spent ₹1234 crore on plant and equipment, with ₹385 crore to spare; it still raised ₹1053 crore from lenders and shareholders. And the profit is real: of every 100 rupees it reported over 7 years, about 415 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 50 days before it paid its own suppliers to paid 30 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 4 Aug 2026 · Consolidated · Unaudited

Revenue

₹614 Cr

Revenue vs last year

+26.1%

Revenue vs last quarter

+8.9%

Net profit

₹55 Cr

Profit vs last year

+44.8%

Profit vs last quarter

+10.0%

Net margin

9.0%

EPS

₹1.43

Earnings call transcript · 4 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹15,072 Cr
Prev close: ₹471.00
52w High: ₹568
52w Low: ₹401
Enterprise value: ₹15,836 Cr
Beta: 0.3
Price CAGR 1y: -5.0%
Price CAGR 3y: —
Price CAGR 5y: —
Price CAGR 10y: —

Ratios

Return on assets: 4.3%
PEG ratio: 11.2
P/E ratio: 101.8
P/B ratio: 7.4
EV / EBITDA: 27.7
Industry P/E: 52.4
ROCE: 10.9%
ROCE 5y average: 12.4%
ROE: 6.0%
Debt / Equity: 0.5
Interest coverage: 3.5
Dividend yield: 0.0%
ROE 3y average: 6.0%
ROE last year: 6.0%

Annual P&L

Annual revenue: ₹2,080 Cr
Annual profit: ₹168 Cr
Operating margin: 28.0%
Net profit margin: 8.1%
EBITDA margin: 27.7%
Sales growth 3y: 26.9%
Sales growth 5y: 34.6%
Profit growth 3y: 9.0%
Profit growth 5y: 33.0%
EPS: ₹4.2
Sales growth TTM: 23.0%
Profit growth TTM: 43.0%
Dividend payout: 0.0%

Quarter P&L

Sales latest quarter: ₹614 Cr
Profit latest quarter: ₹55 Cr
YoY quarterly sales growth: 26.0%
YoY quarterly profit growth: 44.7%
OPM latest quarter: 27.8%

Balance Sheet

Book Value: ₹63.3
Face Value: ₹1.0
Total debt: ₹1,066 Cr
Total cash: ₹129 Cr
Borrowings: ₹1,066 Cr
Reserves / Equity: 62.3

Cash Flow

Operating cash flow: ₹519 Cr
Free cash flow: ₹59 Cr
FCF yield: -0.3%
Net cash flow: -₹10 Cr

Shareholding

Promoter holding: 32.3%
FII holding: 58.0%
DII holding: 7.7%
Public holding: 2.0%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Apollo Hospitals	7,917.00	54.1	1,13,899	0.25	610.4	34.2	7,043.5	20.6	17.4
Manipal Health	699.15	104.0	92,045	0.00	243.4	-7.9	3,090.6	38.1	12.1
Max Healthcare	908.00	58.9	88,230	0.22	323.0	4.9	2,366.2	16.7	14.7
Aster DM Quality	680.30	164.4	59,348	0.44	29.3	-46.1	1,310.7	21.6	11.6
Fortis Health.	779.10	55.2	58,896	0.13	272.8	3.4	2,545.0	17.5	13.4
Narayana Hrudaya	1,723.20	40.8	35,155	0.26	207.3	5.7	2,683.6	78.0	15.5
Global Health	1,294.10	60.8	34,812	0.04	157.3	-0.2	1,304.1	26.5	17.4
Dr Agarwal's Hea	483.25	103.5	15,279	0.00	55.0	50.5	614.0	26.0	10.9
Median	406.32	49.3	5,761	0.02	30.2	19.9	399.4	22.3	14.7

Competes with: Apollo Hospitals, Aster DM Healthcare Limited, Fortis Healthcare Limited, Global Health Limited, Krishna Institute of Medical Sciences Limited, MANIPALHOS, Max Healthcare Institute, Narayana Hrudayalaya Ltd.

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	651	333	349	403	417	431	460	487	499	530	564	614
Expenses		244	241	300	310	316	329	360	363	386	403	444
Material Cost							0.29	0.21	0.19	0.22	0.24	0.32
Change in Inventories							-0.62	-1.78	0.94	-3.88	-5.75	-5.67
Purchases of Stock-in-Trade							44	49	45	50	58	65
Employee Cost							87	96	99	105	104	121
Other Expenses							198	216	217	234	247	263
Operating Profit		89	108	104	107	115	131	128	136	144	161	170
OPM %	26	27	31	26	26	27	28	26	27	27	29	28
Other Income		12	20	6	12	13	13	13	8	11	14	6
Exceptional items (within Other Income)							-2.50	0	0	0	1.33	0
Interest		22	27	27	28	28	25	25	23	21	22	23
Depreciation		43	47	56	57	58	60	63	68	69	77	78
Profit before tax		36	54	27	33	41	59	54	54	65	77	75
Tax %		37	24	33	36	31	27	29	32	33	35	27
Net Profit		23	41	18	21	28	43	38	36	44	50	55
EPS in Rs						0.72	1.03	0.95	0.94	1.07	1.25	1.43
Diluted EPS in Rs							1.03	0.95	0.93	1.06	1.24	1.42

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	531	471	696	1,018	1,332	1,711	2,080	2,207
Expenses	407	387	510	743	965	1,248	1,503	1,595
Material Cost						1.18	0.86
Change in Inventories						-13	-10
Purchases of Stock-in-Trade						174	202
Employee Cost						327	404
Other Expenses						766	914
Operating Profit	124	85	186	275	367	463	577	612
OPM %	23	18	27	27	28	27	28	28
Other Income	13	6	17	14	44	43	46	39
Exceptional items (within Other Income)						-3.02	1.33
Interest	54	44	49	76	101	115	98	89
Depreciation	93	95	98	128	170	231	276	292
Profit before tax	-11	-48	57	84	141	160	249	270
Tax %	82	21	24	-24	32	31	32
Net Profit	-21	-59	43	103	95	110	168	185
EPS in Rs						2.64	4.20	4.69
Diluted EPS in Rs						2.78	4.18
Dividend Payout %	-0	-0	-0	-0	-0	-0	-0

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: —
5 years: 35%
3 years: 27%
TTM: 23%

Compounded profit growth

10 years: —
5 years: 33%
3 years: 9%
TTM: 43%

Stock price CAGR

10 years: —
5 years: —
3 years: —
1 year: -5%

Return on equity

10 years: —
5 years: 7%
3 years: 6%
Last year: 6%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	7	7	7	8	9.33	32	32
Reserves	242	177	206	622	1,330	1,835	1,994
Borrowings	162	185	633	857	966	961	1,066
Other Liabilities	339	417	179	336	445	837	849
Minority Interest						60	94
Total Liabilities	751	787	1,025	1,823	2,751	3,665	3,941
Fixed Assets	551	575	701	1,293	1,746	2,523	2,870
CWIP	8	11	28	99	118	153	244
Investments	1	-0	-0	34	471	264	152
Other Assets	192	201	295	397	416	724	675
Total Assets	751	787	1,025	1,823	2,751	3,672	3,942

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	103	99	164	233	346	360	519
Cash from Investing Activity	-85	-46	-155	-509	-914	-750	-308
Cash from Financing Activity	-73	-37	35	303	553	382	-220
Net Cash Flow	-56	17	44	27	-15	-11	-10
Free Cash Flow	-98	66	95	76	118	37	59

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	36	36	30	27	27	26	28
Inventory Days	178	169	144	116	138	181	178
Days Payable	340	452	389	326	355	286	283
Cash Conversion Cycle	-126	-247	-215	-183	-190	-79	-76
Working Capital Days	-31	-47	-50	-62	-65	-43	-30
ROCE %		-1	17	13	11	10	11

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	32	32	32	32	32	32
FIIs	61	59	58	58	58	58
DIIs	5.21	6.44	7.92	7.78	7.83	7.72
Public	1.74	1.87	1.52	1.78	1.87	1.97
No. of Shareholders	68,696	63,021	48,168	46,554	43,538	42,492

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -6.5% (₹503.65 → ₹471.00)Brick size ₹15.91 (fixed)Bricks 25

Price moved up one brickPrice moved down one brickLast close ₹471.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt as the company states it (net cash negative)

-62.00inr_cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Dr. Agarwal's Health Care Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Healthcare
Industry: Hospital
Classification: Healthcare › Hospital
ISIN: INE943P01029

News impact

Big market events that reach Dr. Agarwal's Health Care Limited, and how the effect spreads.

7 Aug, 04:28 IST · Market event · high impact

KKR to buy Medicover's India hospital business for $1.39 billion, its largest-ever India cheque

American investment firm KKR is paying about $1.39 billion for a Swedish group's Indian hospital chain — its biggest cheque in India — which sets a new, higher price tag for what an Indian hospital business is worth and makes listed chains like Apollo and Medanta look better valued.

Healthcare

Who it hits first

KKR is paying about $1.39 billion for a hospital business with roughly EUR 220 million of annual revenue, which sets a visible and high reference price for Indian hospital assets.
Medicover Hospitals India is not listed in India, so there is no direct Indian stock affected - the entire impact is a valuation read-across to listed chains.
The deal validates the scale of foreign private-equity appetite for Indian healthcare delivery, which supports the valuations listed chains already carry.

Who may gain

Apollo Hospitals and Global Health (Medanta) are the natural benchmarks investors will compare the deal price against.
Narayana Hrudayalaya is the least expensive of the large listed chains at PE 44.67 against a healthcare sector PE median of 39.85, versus Apollo at 68.96 and Max at 70.9.
KIMS runs the same regional south-India multi-speciality model as the asset being bought, making it the closest operational comparison - though at PE 163.33 the valuation offers no cushion.

Along the supply chain

Downstream

Health insurers are downstream: more privately-owned, profit-focused hospital capacity tends to push up treatment prices, which raises the claims insurers pay. Patients are the ultimate downstream party and face the same pricing pressure, which is also what invites eventual regulatory attention to hospital pricing.

Upstream

Medical device and consumable suppliers, and hospital construction and equipment financiers, sit upstream of every hospital chain. A large private-equity owner typically accelerates capacity addition, so more beds eventually means more orders for equipment and construction - but that is a 2027-and-beyond effect, well past this event's horizon.

Where demand moves

Business

Nothing changes in the hospitals' own operations - no patient, doctor or bed moves as a result of this deal. What changes is the price of hospital assets. A well-funded new owner raises the cost of the next acquisition for everyone else, which cuts BOTH ways: it makes the beds a chain already owns more valuable, and it makes the beds it still wants to buy more expensive. That two-sided effect is why Max Healthcare, the most acquisition-driven of the large chains, was downgraded to no directional view in the Layer 8 debate.

Capital

Money rotates into listed hospital shares as investors mark them against the transaction price, and the flow favours the chains that look cheapest on that comparison - Narayana Hrudayalaya - and those with the best returns - Medanta and Apollo. Capital avoids the chains where the read-across is offset by a company-specific problem, notably Aster DM, where 40.66% of promoter shares are pledged as loan collateral.

How it spreads across sectors

Healthcare

A record private-equity price for an Indian hospital chain re-anchors valuations across every listed hospital, with the caveat that it also raises the cost of the next acquisition for the acquisitive chains

When it plays out

Immediate

Listed hospital shares can open firmer as investors mark them against the deal price. Medanta already rose 2.4% and Apollo 0.7% on 6 August.

Medium term

The main risk is the fade pattern. Both prior hospital-sector rallies reversed within a month, and a new well-capitalised competitor eventually bids up doctors, land and acquisition targets for everyone else.

Short term

Watch whether any listed chain discloses that it had also bid, and whether the deal price implies a per-bed or profit multiple above or below where listed chains trade.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Splits, bonuses & buybacks

daily-prices repair: 2 rows from NSE's archive (replace 1, delete 0, insert 1), 2025-03-18..2026-02-01 (docs/flat_day_repair.md)1× · 18 Mar 2025

Bulk & block deals

Date	Who	Bought / sold	Shares	Price
12 Aug 2026	HYPERION INVESTMENTS PTE. LTD.	SELL	2,41,60,000	₹501.03
12 Aug 2026	CLAYMORE INVESTMENTS (MAURITIUS) PTE.LTD.	SELL	1,59,00,000	₹501.54
12 Aug 2026	ICICI PRUDENTIAL MUTUAL FUND	BUY	62,11,813	₹501.00
12 Aug 2026	POLAR CAPITAL FUNDS PLC-HEALTHCARE OPPORTUNITIES FUND	BUY	36,26,410	₹501.00
12 Aug 2026	INVESCO MUTUAL FUND	BUY	35,65,443	₹504.64
12 Aug 2026	MARWADI CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED	BUY	19,59,808	₹502.46
12 Aug 2026	ALLIANZ GLOBAL INVESTORS GMBH ACTING ON BEHALF OF ALLIANZ EEE FONDS	BUY	17,72,127	₹501.00
12 Aug 2026	MARWADI CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED	SELL	6,50,808	₹510.96

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.