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Dr Agarwals Eye Hospital Ltd (DRAGARWQ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526783 NSE: DRAGARWQ Hospital & Healthcare Services | Small Cap | Dr Agarwals Eye Hosp Share Price

₹5,105.95 78.40 (1.56%)

As on 02-Jul'26 16:59

Dr Agarwals Eye Hospital Ltd (DRAGARWQ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526783 NSE: DRAGARWQ Hospital & Healthcare Services | Small Cap | Dr Agarwals Eye Hosp Share Price

₹5,105.95 78.40 (1.56%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,468 Cr.
Current Price
₹5,106
52-Week Low / High
₹4,231 / 6,392
TTM EPS
₹145.1
TTM Sales
₹471 Cr.
Book Value per Share
₹716.6
P/E Ratio
35.20
Higher than its 5-year historical median
Industry PE
93.2
Price to Book (P/B)
7.13
In line with its 5-year historical median
Price to Sales (P/S)
5.24
Higher than its 5-year historical median
EV/EBITDA
16.82
Higher than its 5-year historical median
Dividend Yield
0.12%
Profitability Efficiency
Return on Equity (ROE)
29.80%
Return on Capital Employed (ROCE)
33.26%
Return on Assets (ROA)
8.97%
Operating Profit Margin
30%
Net Profit Margin
13.76%
Gross Profit Margin
27.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
24.38%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
29.57%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
17.88%
Asset Quality
Promoter Holding
72.67%
Pledged shares (%) of Promoter's holding (%)
29.26%
Reserves
₹341 Cr.
Equity
₹4.8 Cr.
Face Value
₹10
All Time Low / High
₹2.10 / 7300.00

Dr Agarwals Eye Hospital stock performance

Key Ratios
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Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is Dr Agarwals Eye Hospital Ltd a good quality company?
Dr Agarwals Eye Hospital Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Dr Agarwals Eye Hospital Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dr Agarwals Eye Hospital Ltd vs industry peers?
Dr Agarwals Eye Hospital Ltd revenue CAGR is 17.68%, compared to the industry median CAGR of 1.38%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Dr Agarwals Eye Hospital Ltd?
Promoters hold 72.67% of the Dr Agarwals Eye Hospital Ltd, with 29.26% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Dr Agarwals Eye Hospital Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 41.6% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dr Agarwals Eye Hospital Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7.7%28.3%31.7%34.3%39.9%16.9%42.4%43%38.6%33.3%-
Value Creation
Index
-0.51.01.31.51.90.22.02.11.81.4-

Growth Parameters

Sales 137149153170176140201268319397471
Sales YoY Gr.-8.8%3.2%10.9%3.5%-20.5%43.9%33.2%19.1%24.4%-
Adj EPS -0.116.214.525.329.3-35178.799115.3145.1
YoY Gr.-NA-10.5%74.2%15.7%-110.3%NA54.4%25.8%16.5%-
BVPS (₹) 49.862.674.697119.4116.3166.3241.2334.4446716.6
Adj Net
Profit
-07.66.811.913.8-1.4243746.554.270
Cash Flow from Ops. 17.420.118.625.138.633.956.769.689.894.5-
Debt/CF from Ops. 1.81.2110.50.60.60.60.61-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 12.6%17.7%25.4%24.4%
Adj EPS NA31.5%31.3%16.5%
BVPS27.6%30.2%38.9%33.4%
Share Price 38.3% 62.6% 54.1% 18.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-0.228.921.229.527.1-2.636.138.634.429.625
Op. Profit
Mgn %
915.215.917.626.921.429.228.328.930.130.9
Net Profit
Mgn %
-05.14.577.8-111.913.814.613.714.9
Debt to
Equity
1.30.80.50.50.30.40.40.40.30.50.2
Working Cap
Days
114112117124131150103929410350
Cash Conv.
Cycle
-14-19-23-22-10-15-30-32-26-1811

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales137149153170176140201268319397
Operating Expenses + 124126129140129110143192227278
Manufacturing Costs29262730312735475865
Material Costs34353438403347617190
Employee Cost 29323234363239536478
Other Costs 32333639221823313545
Operating Profit 122224304730597692119
Operating Profit Margin (%) 9.0%15.0%15.8%17.6%26.8%21.3%29.1%28.3%28.8%30.0%
Other Income + 0222321256
Exceptional Items 0000000000
Interest 54349778815
Depreciation 991011211920202739
Profit Before Tax -011131720632496271
Tax -1476678121616
Profit After Tax 0771214-124374655
PAT Margin (%) 0.0%4.9%4.4%7.0%7.8%-1.0%12.0%13.8%14.5%13.8%
Adjusted EPS (₹)0.115.614.425.429.1-3.151.378.698.6116.3
Dividend Payout Ratio (%)1,024.30%9.60%8.30%5.90%0%0%5.90%3.80%5.10%5.20%

Valuation of Dr Agarwals Eye Hosp - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 23293546565578113157210
Share Capital 5555555555
Reserves 19253041515073109152205
Debt +24161018131727404482
Long Term Debt181351381021364482
Short Term Debt6355576400
Minority Interest0000000000
Trade Payables18141815141826273230
Others Liabilities 192233418378203242308355
Total Liabilities 848196120166167333422541677

Fixed Assets

Net Fixed Assets +343336559496214260316393
Gross Block87374978138158295365446562
Accumulated Depreciation5341323446281104131169
CWIP 113000266297128
Investments 00000000013
Inventories1067685661013
Trade Receivables9779799101314
Cash Equivalents 232572229283412
Others Assets 283140455136495572104
Total Assets 848196120166167333422541677

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 17201925393457709094
PBT -011131720632496271
Adjustment 15111313282727273150
Changes in Working Capital 51-23-346510-6
Tax Paid -3-3-5-8-7-3-9-12-14-20
Cash Flow From Investing Activity + -17-8-11-25-17-11-46-71-70-133
Capex -17-8-11-25-17-11-46-70-70-102
Net Investments -0-00-00-0-0-0-1-30
Others 0110000-010
Cash Flow From Financing Activity + -0-12-82-20-8-40-1417
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 6-5-76-621120937
Interest Paid -4-3-3-3-3-2-2-2-0-3
Dividend Paid -1-0-1-1-1-0-0-1-3-2
Others -2-320-10-7-13-17-20-15
Net Cash Flow 00-022157-16-22

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)0.1627.7821.0229.5526.91-2.636.2938.5634.2829.8
ROCE (%)7.728.2631.734.339.8716.9242.442.9838.5933.26
Asset Turnover Ratio1.81.81.731.571.230.840.80.710.660.65
PAT to CFO Conversion(x)N/A2.862.712.082.79N/A2.381.891.961.71
Working Capital Days
Receivable Days20.2019.3016.3016.901620.3015.8012.8013.2012.40
Inventory Days27.1019.701614.801517.209.908910.60
Payable Days184.20167170.60159.40131.50175.90170.20156.80151.40126.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *39.950.000.0055.4555.4555.4555.4529.2629.2629.26
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dr Agarwals Eye Hospital Ltd FAQs

The current trading price of Dr Agarwals Eye Hosp on 02-Jul-2026 16:59 is ₹5,106.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jul-2026 the market cap of Dr Agarwals Eye Hosp stood at ₹2,467.6 Cr

The latest P/E ratio of Dr Agarwals Eye Hosp as of 01-Jul-2026 is 35.20.

The latest P/B ratio of Dr Agarwals Eye Hosp as of 01-Jul-2026 is 7.13.

The 52-week high of Dr Agarwals Eye Hosp is ₹6,392 and the 52-week low is ₹4,231.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dr Agarwals Eye Hosp is ₹471 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dr Agarwals Eye Hospital Ltd is a good quality company.

The key valuation ratios of Dr Agarwals Eye Hospital Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dr Agarwals Eye Hospital Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Dr Agarwals Eye Hospital Ltd

Dr Agarwal’s Eye Hospital, founded in 1957 and registered in 1994 as a Company, is a leading chain of eye hospitals with predominant presence in Tamil Nadu. Under the able leadership of Dr Amar Agarwal, the company has been a pioneer and leader in the Ophthalmology market with an established market position and healthy brand recall in the eye care segment. It offers comprehensive services in the eye-care segment including Cataract, Glaucoma, Laser Correction, Cornea and Refractive, Retina, and Squint among others. The company provides comprehensive services across all major ophthalmic specialities. It offers comprehensive services in the eye-care segment including Cataract, Glaucoma, Laser Correction, Cornea and Refractive, Retina, and Squint among others. The hospital uses advanced diagnostic technology, precision surgical systems and global best practices to ensure accurate treatment outcomes. Each speciality is supported by dedicated teams trained in complex procedures and emerging innovations.

Business area of the company

Dr Agarwals Eye Hospital is primarily engaged in running, owning and managing eye care hospitals, opticals, pharmacies, etc. and related services.

Eye Treatments & Surgery

  • Trabeculectomy Surgery for Glaucoma
  • Glaucoma Shunt Surgery
  • Silk LASIK
  • Laser Trabeculoplasty for Glaucoma Treatment
  • YAG Peripheral Iridotomy (YAG PI)
  • Minimally Invasive Glaucoma Surgery (MIGS)
  • Robotic Cataract
  • Central Serous Retinopathy (CSR)
  • Hyperopia
  • Stye Eye Treatment
  • Refractive Surgery
  • Myopia
  • Contoura Lasik
  • Lasik Surgery
  • Flapless LASIK
  • Photorefractive Keratectomy (PRK)
  • Implantable Collamer Lens (ICL)
  • Eyelid & Eye Socket Correction (Oculoplasty)
  • Glued IOL
  • CAIRS Eye Surgery
  • Advanced Corneal Transplant (PDEK)
  • Pneumatic Retinopexy (PR)
  • Cornea Transplantation
  • Pinhole Pupilloplasty
  • Paediatric Ophthalmology
  • Cryopexy
  • Retina Injection Therapy (Anti-VEGF)
  • Cosmetic Eye Surgery
  • Dry Eye Treatment
  • Retinal Laser Photocoagulation
  • Retina Repair Surgery (Vitrectomy)
  • Scleral Buckle
  • Laser Cataract Surgery
  • Black Fungus Treatment & Diagnosis
  • Neuro Ophthalmology

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