# Dr Agarwals Health Care share price today (Dr Agarwals Health Care Ltd, NSE: AGARWALEYE)

> Dr Agarwals Health Care share price today: ₹512.80 at the NSE close on 3 November 2026, up 1.3% in a year. Dr Agarwals Health Care (NSE: AGARWALEYE) is worth ₹16,265 crore, trades at a P/E of 109.8 and has closed between ₹409.75 and ₹546.25 over the past 52 weeks. > Dr Agarwals Health Care Ltd's results are improving, while its P/E is near the low end of its own history over 1 year, higher than only 11% of past readings. AGARWALEYE · Hospitals/Medical Services · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/dr-agarwals-health-care-ltd

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## Key numbers

- Price: ₹512.80 (+1.3% in a year)
- P/E: 109.8× (lower than 89% of the last 1 year)
- Revenue (Jun 2026): ₹614 Cr (+26.1% on a year ago)
- Profit (Jun 2026): ₹55.0 Cr (+44.7% on a year ago)
- Operating margin: 28.0% (+2.0 points on a year ago)
- ROCE: 11%, FY26

The main question: yearly earnings per share moved +59.1% while the share price moved +1.3%. ## What is the Dr Agarwals Health Care share price today? Dr Agarwals Health Care Ltd's share price was ₹512.80 at the close on 3 November 2026. It has been rising for 18 weeks. That is 7.5% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 15 weeks in a row. In the last 52 weeks it traded between ₹410 and ₹546, and at that close it sat 75% of the way up from that low. Over the last 1 year the share price moved +28% while the NIFTY 500 moved +5%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Dr Agarwals Health Care this quarter? Three changes stood out: revenue up on a year earlier for 7 quarters in a row (every quarter we can compare), profit up on a year earlier for 7 quarters in a row (every quarter we can compare) and promoters cut their stake for 4 quarters in a row. 1. Revenue up on a year earlier for 7 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹614 crore, +26.1% on a year earlier. Why: Revenue rose because the company treated more patients and earned more per surgery, and newer centers also started contributing. Next results: check whether high-end cataract surgeries keep lifting the average amount earned per surgery. From the earnings call on 4 Aug 2026. 2. Profit up on a year earlier for 7 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹55 crore, +44.7% on a year earlier. Why: Profit rose because a larger share of revenue came from surgery and the cost of goods fell. Next results: check whether the new centers become more productive as doctors and facilities mature. From the earnings call on 4 Aug 2026. 3. Promoters cut their stake for 4 quarters in a row From 32.4% to 32.3% of the company by the September 2026 quarter. ## What are Dr Agarwals Health Care's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Dr Agarwals Health Care reported revenue of ₹614 crore, up 26.1% from ₹487 crore a year earlier, and a profit of ₹55.0 crore, up 44.7% from ₹38.0 crore. ### Dr Agarwals Health Care results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹614 crore | ₹487 crore | +26.1% |
| Profit | ₹55.0 crore | ₹38.0 crore | +44.7% |
| Earnings per share | ₹1.43 | ₹0.95 | +50.5% |
| Operating margin | 28.0% | 26.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Dr Agarwals Health Care's management discussed these results on a call held on 4 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Dr Agarwals Health Care share price history? Dr Agarwals Health Care closed at ₹512.80 on 3 November 2026, up 1.3% from ₹506.25 a year earlier (31 October 2025). Its highest weekly close since February 2025 was ₹546.25 on 7 August 2026. ### Dr Agarwals Health Care share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹473.90 | +8.2% |
| 1 month ago · 1 Oct 2026 | ₹486.45 | +5.4% |
| 6 months ago · 30 Apr 2026 | ₹445.10 | +15.2% |
| 1 year ago · 31 Oct 2025 | ₹506.25 | +1.3% |
| Earliest weekly close in our records · 7 Feb 2025 | ₹402.05 | +27.5% |
| Highest weekly close since February 2025, also the 52-week high · 7 Aug 2026 | ₹546.25 | −6.1% |
| Lowest weekly close since February 2025 · 30 May 2025 | ₹338.50 | +51.5% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹409.75 | +25.1% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (97 weekly closes from 7 February 2025 to 3 November 2026.)

## What is the latest news on Dr Agarwals Health Care? 3 Nov 2026: Dr Agarwals Health Care closed at ₹512.80, up 8.2% on the week and up 5.4% on the month. 4 Aug 2026: Dr Agarwals Health Care held its results call for April to June 2026. Management guided: FY27 facility additions: 60, including 40 surgical centers. ### Earlier

- Results for April to June 2026: Revenue up 26.1% and profit up 44.7% on a year earlier. ## What dividend does Dr Agarwals Health Care pay? Dr Agarwals Health Care has paid no dividend on the NSE since its first NSE close in our records (7 February 2025), the start of the period we checked. No. Dr Agarwals Health Care Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Dr Agarwals Health Care management say on the latest results call? On the call for April to June 2026, held on 4 August 2026, Dr Agarwals Health Care's management guided: FY27 facility additions: 60, including 40 surgical centers. > “Rupee gross margin will definitely go up, Tushar.”
> Dr. Adil Agarwal, on the call for April to June 2026

### What management guided

- Facility rollout cadence: 12 additions in Q2 and 30 in H2 FY27. - Delhi-NCR additions: 3-5 facilities in the remainder of FY27. - AEHL merger final-item clearance around mid-November. - SSG volume and value momentum, including premiumization-led realization growth, expected to continue. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/58421/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 4 August 2026.)

## What is the future of Dr Agarwals Health Care? What is changing in the business? What is changing at Dr Agarwals Health Care, from the latest results and calls: mature-centre growth, premium procedure mix and greenfield network ramp. - Mature-centre growth. Mature facilities and same-store demand provide the base that can absorb expansion costs. ⚠ estimate
- Premium procedure mix. Premium cataract and femto adoption can increase revenue per procedure. ⚠ estimate
- Greenfield network ramp. New facilities provide a multi-quarter growth runway if doctor productivity improves after opening. ⚠ estimate
- Regional expansion and merger capacity. North-region growth and the proposed Chennai capacity addition can widen the network beyond its southern base. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What could change the Dr Agarwals Health Care story? What are the risks? The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. ### Each change stops working if

- Mature-centre growth: Mature-centre sales growth slows while greenfield losses remain elevated. - Premium procedure mix: High-end procedure mix falls or realization growth fails to translate into operating profit. - Greenfield network ramp: New-centre losses do not decline as facilities age or expansion goals are missed. - Regional expansion and merger capacity: Merger clearance or facility opening slips, or regional centres fail to reach expected productivity. ### The main risks

- Greenfield loss persistence: Rapid facility additions can depress returns before cohorts mature. ⚠ estimate
- Same-store comparability: A changed mature-facility definition reduces comparability of reported same-store growth. ✓ fact
- Working-capital and capital spending absorption: Cash conversion is high, but supplier credit has reduced and capital spending exceeds operating cash over the observed window. ✓ fact
- Refractive and merger execution: Procedure-category softness and merger timing can delay expected growth contribution. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Dr Agarwals Health Care's next results? When Dr Agarwals Health Care reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Recent greenfield cohorts to show improving productivity as doctors and facilities mature - check quarterly operating profit drag. - What to check (from the call)
- Recent greenfield cohorts to show improving productivity as doctors and facilities mature - check quarterly operating profit drag. - Delhi-NCR productivity gap versus South centers - check surgeries per facility and ramp progression. - Premiumization and femto adoption to sustain value growth - check high-end cataract mix and realization. - AEHL merger final items to clear - check the company's completion announcement. ## Which stock lists is Dr Agarwals Health Care on? Dr Agarwals Health Care is on 2 of our India lists: Momentum stocks and Small & mid cap stocks. - [Momentum stocks Market cap cr: 16291.426551453262](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 404](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Dr Agarwals Health Care profitable? Dr Agarwals Health Care Ltd earned ₹55.0 Cr of net profit in the Jun 2026 quarter, +44.7% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹168 Cr. That is 9.0% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr. For the full year, FY26 profit was ₹168 Cr (+52.7% on the year before). Why profit moved: revenue changed +26.1% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +47.4% and revenue +22.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. The quarter had higher revenue, operating profit and profit than the comparable period. Management attributed the annual margin outcome to mature-centre scale and procedure mix, while also disclosing loss-making new facilities. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Dr Agarwals Health Care make, and is it growing? Dr Agarwals Health Care Ltd reported ₹614 Cr of revenue in the Jun 2026 quarter, +26.1% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 6 years it has grown 25.6% a year on average. The last full year, FY26, came in at ₹2,080 Cr. The last four reported quarters add to ₹2,207 Cr. FY26 revenue was ₹2,080 Cr, +21.6% on the year before. Recent pace: the last four quarters grew +22.9% on average, against 25.6% a year over the longer run, so this year is growing slower than its own long-run rate. FY26-Q4. The quarter had higher revenue, operating profit and profit than the comparable period. Management attributed the annual margin outcome to mature-centre scale and procedure mix, while also disclosing loss-making new facilities. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Dr Agarwals Health Care keep? Dr Agarwals Health Care Ltd's operating margin was 28.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 18.0% and 28.0%. The latest quarter is within that range. Why this happened. Management reports growth from mature facilities and attributes value growth to premiumization and modest price realization. The operating-leverage catapult depends on this mature base continuing to absorb the fixed cost of staffing new centres. Why the margin moved: operating margin changed +1.5 percentage points on the year while gross margin changed +0.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY26-Q4. The quarter had higher revenue, operating profit and profit than the comparable period. Management attributed the annual margin outcome to mature-centre scale and procedure mix, while also disclosing loss-making new facilities. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Dr Agarwals Health Care's profit turning into cash? Over the last 3 years, 328% of Dr Agarwals Health Care Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹519 Cr of operating cash against ₹168 Cr of profit. After ₹714 Cr of spending on assets, free cash was −₹195 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 328% of profit came in as cash: the cash cycle got 171 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.5× depreciation over three years. The next section checks what that spending is building. ## Where does Dr Agarwals Health Care's cash go? Dr Agarwals Health Care Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −76 days in FY26, up from −247 days in FY21. It spent ₹2,399 Cr on assets over the last 3 years. Customers take 28 days to pay, and stock sits for 178 days on average. At FY26 sales of ₹2,080 Cr, each day of that cycle ties up about ₹5.7 Cr, so roughly −₹433 Cr is tied up in the business at any time. FY26: customers took 28 days to pay and stock sat for 178 days, about 5.9 months of sales sitting as stock, for a full cycle of −76 days, longer than FY21's −247. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 178 days. Customers pay about 28 days after that. Suppliers are paid at 283 days. Together that makes the −76-day cycle. Spending on assets: ₹2,399 Cr over the last 3 years, against ₹677 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹244 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Dr Agarwals Health Care's P/E ratio, and how does it compare with its own history? Dr Agarwals Health Care Ltd's P/E is 109.8×, near the low end of its own history: it has been lower only 11% of the time. Its usual P/E (the middle reading) is 139.3×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +59.1% while the price moved +1.3%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 31% on reported income across 11 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Dr Agarwals Health Care business getting better or worse? Dr Agarwals Health Care Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 7 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## What is the Dr Agarwals Health Care story, and has it been checked? Dr Agarwals Health Care Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Still open: The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. Our read, 22 August 2026. From the numbers. From the price. Price stage 2, week 18, above its 200-day line, relative strength rising. From the research. Where they disagree. What is proven. What is not proven yet. The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. What would change our mind. The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. The test written in advance. The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. Measured by: the thesis as written as stated by the next result. The test written in advance. Greenfield loss persistence. Measured by: Greenfield loss persistence Reported greenfield losses remain at or above the prior cohort level while mature-centre growth slows. by the next result. The test written in advance. What the company does. The latest quarter extended the revenue and profit trend while reported operating margin remained near the recent range. Premium cataract mix and mature-centre growth provide an operating mechanism, but greenfield staffing and facility losses remain a near-term drag. What the surface reading misses. The surface reading is: Profit grew faster than revenue. The research reads it further: Operating profit also increased and the current quarter is clean in the one-off ledger, so the result has an operating component rather than being solely a reported exceptional item. What the surface reading misses. Lever 1 · Operating leverage: building. Mature facilities and same-store demand provide the base that can absorb expansion costs. What proves it keeps working: Mature-centre growth. It stops working if Mature-centre sales growth slows while greenfield losses remain elevated. Lever 2 · Value-added mix: building. Premium cataract and femto adoption can increase revenue per procedure. What proves it keeps working: Premium procedure mix. It stops working if High-end procedure mix falls or realization growth fails to translate into operating profit. Lever 3 · Management change: building. New facilities provide a multi-quarter growth runway if doctor productivity improves after opening. What proves it keeps working: Greenfield network ramp. It stops working if New-centre losses do not decline as facilities age or expansion goals are missed. Lever 4 · Paying down debt: building. North-region growth and the proposed Chennai capacity addition can widen the network beyond its southern base. What proves it keeps working: Regional expansion and merger capacity. It stops working if Merger clearance or facility opening slips, or regional centres fail to reach expected productivity. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Dr Agarwals Health Care management deliver what it promised? What Dr Agarwals Health Care Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Mature-Facility SSSG Definition Changed · 4 August 2026. In the Feb 2026 and May 2026 calls, management defined its mature cohort as facilities operational or opened prior to FY22 and reported approximately 14% same-store sales growth. In the Aug 2026 call, management changed the cutoff to facilities operational prior to FY23 while reporting 16.3% growth, without explaining the definition change or providing a comparable restated figure. Refractive Surgery Growth Reversal · 4 February 2026. Management previously guided in August 2025 that refractive surgeries would bounce back in Q2 and Q3 to mirror overall strong surgical volume growth, citing specific seasonality and planned aggression. However, in the February 2026 call, they admitted refractive business was slow in Q3 (the previously touted peak quarter) and for the full year, blaming industry sluggishness rather than delivering the promised recovery. Earlier call (Aug 2025): “The quarters where we also go aggressive... are the quarter 2 and quarter 3. Those are the 2 quarters where we get the maximum impact... overall, yes, it should mirror whatever the overall surgical growth is.” Later call (Feb 2026): “Refractive has been slow for us this quarter and largely for this year. It is more to do with the overall industry being slightly slow.”

Subsidiary Hospital Project Delay · 4 February 2026. In the August 2025 call, management stated the flagship subsidiary hospital project was back on track following flood delays and planned operations to begin by Q4 FY26. In the latest call (which took place during Q4 FY26), this timeline was pushed back significantly by another two quarters to Q2 FY27 without detailed justification for the new slippage. Earlier call (Aug 2025): “But right now, it”. Later call (Feb 2026): “We expect to complete everything and receive all licenses and approvals by Q2 FY27.”

Massive Cut in FY26 CAPEX Guidance · 31 October 2025. In the May 2025 and August 2025 calls, management consistently guided for a total FY26 capex of INR 310 crores. However, in the October 2025 call, management confirmed a significantly reduced guidance of INR 110 crores, a 65% cut, without providing any justification for the dramatic change in capital allocation plans. Later call (Oct 2025): “Yes, 110 crores. That is 70 crores for the facility itself.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Dr Agarwals Health Care management's track record? Growth delivered but forward guidance/disclosure shaky on the expansion economics. ### Regulatory and governance record

No SEBI/CBI/ED action or fraud surfaced; red-flag sweep returned only unrelated insider-trading matters. 0% Promoter shares pledged

Sources:

- [thecompanycheck.com](https://www.thecompanycheck.com)
- [lexology.com](https://www.lexology.com)
- [scanx.trade](https://scanx.trade)

(Checked 21 July 2026.)

## How much does Dr Agarwals Health Care earn on its capital? Dr Agarwals Health Care Ltd earned a ROCE of 11% in FY26. That is up from a low of −1% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 8.1% net margin and 0.53× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 8.1% net margin × 0.53× asset turnover × 1.95× leverage (assets divided by equity) ≈ 8.4% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 31% on reported income across 11 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Dr Agarwals Health Care have too much debt? Dr Agarwals Health Care Ltd had ₹1,066 Cr of borrowings against ₹2,026 Cr of equity in FY26, so its debt is 0.53× its equity. Its operating profit is 6 times its interest bill. Over 5 years borrowings went from ₹185 Cr to ₹1,066 Cr. Over the last 3 of those years it spent ₹2,399 Cr on assets. Why this happened. The latest call reports North-region growth and dates the remaining merger clearance. Contribution remains a forecast until the facility opens and reports operating results. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 31% on reported income across 11 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Dr Agarwals Health Care shareholding pattern? Foreign institutions cut their stake in Dr Agarwals Health Care Ltd by 11.1 percentage points over 6 quarters, the biggest change among its owners. Foreign institutions now own 49.6% of the company. Domestic institutions moved +10.6 points over the same period, to 15.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why this happened. The latest call documents rapid additions and upfront staffing. Management expects doctor productivity and facility economics to improve as cohorts mature, making reported greenfield losses the key counter-metric. Over the last two years: Foreign institutions: −11.1 points over 6 quarters, to 49.6%; Domestic institutions: +10.6 points over 6 quarters, to 15.9%; Promoters: −0.1 points over 6 quarters, to 32.3%. Why the owners changed: foreign institutions moved −11.1 points and domestic institutions +10.6 points over 6 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Dr Agarwals Health Care from balance-sheet trouble? For Dr Agarwals Health Care Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Dr Agarwals Health Care rank in its industry? 60.6 out of 100, rank 1 of 7 in Hospitals/Medical Services, with 60% of the evidence available. Dr Agarwals Health Care Ltd scores 60.6 out of 100 against the 7 companies it is compared with in Hospitals/Medical Services, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 30 + 9.6 + 8.5 + 12.5 = 60.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Dr Agarwals Health Care compared with? Dr Agarwals Health Care ranks 1 of 7 Hospitals/Medical Services companies on the 4-Factor Sector Score, with 60.6 out of 100. 1. Dr Agarwals Health Care Ltd this page AGARWALEYE · turning · Evidence leans up · 60% evidence 60.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.0/35 · Revenue 22.9% · Profit 42.3% · Operating margin change 2 points · 95% evidence Capital efficiency 9.6/25 · ROCE 10.9% · Operating margin 28% · 76% evidence Valuation 8.5/20 · P/E 109× · PEG n/a · 15% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 12.1% · 1 year 0.6% · 25% evidence · 8 of 12 weeks ahead Exact sum: 30 + 9.6 + 8.5 + 12.5 = 60.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Unihealth Hospitals Ltd](https://www.sectoralpha.in/stocks/unihealth-hospitals-ltd) UNIHEALTH · quiet · Too little evidence to rank firmly · 51% evidence 59.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.8/35 · Revenue n/a · Profit n/a · Operating margin change -4 points · 26% evidence Capital efficiency 18.1/25 · ROCE 24.5% · Operating margin 34% · 76% evidence Valuation 10.5/20 · P/E 34.1× · PEG n/a · 15% evidence Relative strength 14.0/20 · Lead over its industry 6.9% · Lead over NIFTY 500 22.3% · 1 year 227.5% · 100% evidence · 7 of 12 weeks ahead Exact sum: 16.8 + 18.1 + 10.5 + 14 = 59.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 3. [Nephrocare Health Services Ltd](https://www.sectoralpha.in/stocks/nephrocare-health-services-ltd) NEPHROPLUS · quiet · Too little evidence to rank firmly · 55% evidence 47.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.6/43.75 · Revenue n/a · Profit n/a · Operating margin change 0 points · 48% evidence Capital efficiency 9.5/31.25 · ROCE 15.3% · Operating margin 21% · 100% evidence Valuation 12.8/25 · P/E 72.6× · PEG 1.55 · 65% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 25.6 + 9.5 + 12.8 = 47.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 4. [Gaudium IVF and Women Health Ltd](https://www.sectoralpha.in/stocks/gaudium-ivf-and-women-health-ltd) GAUDIUMIVF · quiet · Evidence leans down · 63% evidence 47.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.8/43.75 · Revenue 16.3% · Profit 10.6% · Operating margin change -16.5 points · 100% evidence Capital efficiency 19.2/31.25 · ROCE 29.5% · Operating margin 12.5% · 100% evidence Valuation 13.8/25 · P/E 33.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 14.8 + 19.2 + 13.8 = 47.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 5. [Gujarat Kidney & Super Speciality Ltd](https://www.sectoralpha.in/stocks/gujarat-kidney-super-speciality-ltd) GKSL · breaking out · Evidence leans down · 63% evidence 47.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.9/43.75 · Revenue 100% · Profit 36.7% · Operating margin change -32.1 points · 100% evidence Capital efficiency 11.8/31.25 · ROCE 14.5% · Operating margin 24.4% · 100% evidence Valuation 11.3/25 · P/E 81.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 23.9 + 11.8 + 11.3 = 47 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 6. [KRM Ayurveda Ltd](https://www.sectoralpha.in/stocks/krm-ayurveda-ltd) KRMAYURVED · quiet · Too little evidence to rank firmly · 38% evidence 61.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/43.75 · Revenue n/a · Profit n/a · Operating margin change 12 points · 32% evidence Capital efficiency 24.4/31.25 · ROCE 35.3% · Operating margin 37.2% · 95% evidence Valuation 14.4/25 · P/E 19.1× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 23.1 + 24.4 + 14.4 = 61.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 7. [Park Medi World Ltd](https://www.sectoralpha.in/stocks/park-medi-world-ltd) PARKHOSPS · quiet · Too little evidence to rank firmly · 38% evidence 54.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/43.75 · Revenue n/a · Profit n/a · Operating margin change 0 points · 45% evidence Capital efficiency 19.1/31.25 · ROCE 19.5% · Operating margin 26% · 76% evidence Valuation 12.5/25 · P/E 34.2× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 22.5 + 19.1 + 12.5 = 54.1 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Hospitals/Medical Services](https://www.sectoralpha.in/sectors/hospitals-medical-services), all 7 compared on one page. ## Which companies are close to Dr Agarwals Health Care in size? Dr Agarwals Health Care is the largest of 7 Hospitals/Medical Services companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Park Medi World, Nephrocare Health Services, Gujarat Kidney & Super Speciality, Unihealth Hospitals, Gaudium IVF and Women Health and KRM Ayurveda. ### Hospitals/Medical Services companies close in size

1. Dr Agarwals Health Care Ltd ₹16,144 crore
2. [Park Medi World Ltd](https://www.sectoralpha.in/stocks/park-medi-world-ltd) ₹9,490 crore
3. [Nephrocare Health Services Ltd](https://www.sectoralpha.in/stocks/nephrocare-health-services-ltd) ₹6,180 crore
4. [Gujarat Kidney & Super Speciality Ltd](https://www.sectoralpha.in/stocks/gujarat-kidney-super-speciality-ltd) ₹1,288 crore
5. [Unihealth Hospitals Ltd](https://www.sectoralpha.in/stocks/unihealth-hospitals-ltd) ₹875 crore
6. [Gaudium IVF and Women Health Ltd](https://www.sectoralpha.in/stocks/gaudium-ivf-and-women-health-ltd) ₹771 crore
7. [KRM Ayurveda Ltd](https://www.sectoralpha.in/stocks/krm-ayurveda-ltd) ₹479 crore

[All 7 Hospitals/Medical Services companies, largest first](https://www.sectoralpha.in/sectors/hospitals-medical-services#all-companies)

### Companies close in size in other industries

1. [Computer Age Management Services Ltd](https://www.sectoralpha.in/stocks/computer-age-management-services-ltd) ₹16,243 crore · Finance - Capital Markets - RTA
2. [Garware Hi Tech Films Ltd](https://www.sectoralpha.in/stocks/garware-hi-tech-films-ltd) ₹16,203 crore · Packaging - Films
3. Dr Agarwals Health Care Ltd ₹16,144 crore
4. [Elgi Equipments Ltd](https://www.sectoralpha.in/stocks/elgi-equipments-ltd) ₹16,132 crore · Compressors
5. [Anant Raj Ltd](https://www.sectoralpha.in/stocks/anant-raj-ltd) ₹16,097 crore · Data Centre

## What else do people ask about Dr Agarwals Health Care? ### What is Dr Agarwals Health Care's share price today? Dr Agarwals Health Care Ltd's share price is ₹512.80, +1.3% over the past year. The whole company is worth ₹16,265 Cr on the market. In the last 52 weeks it traded between ₹410 to ₹546; today it is 75% of the way up from the low, 7.5% above its 200-day average (as of 3 November 2026). ### What were Dr Agarwals Health Care's latest quarterly results? Dr Agarwals Health Care Ltd reported revenue of ₹614 Cr and net profit of ₹55.0 Cr for the Jun 2026 quarter. Revenue rose 26.1% and profit rose 44.7% compared with a year earlier. Earnings per share were ₹1.43 (as of 3 November 2026). ### What is Dr Agarwals Health Care's market cap? Dr Agarwals Health Care Ltd's market capitalisation is ₹16,265 Cr at a share price of ₹512.80. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Dr Agarwals Health Care performing? Dr Agarwals Health Care Ltd's share price has been rising for 18 weeks. In its latest quarter, revenue rose 26.1% and profit rose 44.7% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 15 weeks running (as of 3 November 2026). ### Will Dr Agarwals Health Care's share price go up? This page does not forecast Dr Agarwals Health Care Ltd's share price. What it shows instead: the share price is ₹512.80, and it has been rising for 18 weeks. Its P/E of 109.8× is higher than 11% of its own last 2 years (as of 3 November 2026). ### Who owns Dr Agarwals Health Care? Promoters own 32.3% of Dr Agarwals Health Care Ltd, foreign institutions 49.6%, domestic institutions 15.9% and the public 2.2% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 11.1 percentage points over 6 quarters (as of 3 November 2026). ### Where is Dr Agarwals Health Care in its business cycle? Dr Agarwals Health Care Ltd's FY26 operating margin was 28.0%, against a 7-year range of 18.0% to 28.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 28.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Dr Agarwals Health Care story? The main question: yearly earnings per share moved +59.1% while the share price moved +1.3%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Dr Agarwals Health Care a stock worth studying right now? What the numbers show: Dr Agarwals Health Care Ltd's results are improving, while its P/E is near the low end of its own history over 1 year, higher than only 11% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Dr Agarwals Health Care share price forecast for 2026? What management itself guided: FY27 facility additions: 60, including 40 surgical centers. What is changing at Dr Agarwals Health Care, from the latest results and calls: mature-centre growth, premium procedure mix and greenfield network ramp. What would change the story: The thesis fails if mature-centre demand slows while greenfield losses remain elevated and operating margins decline, because the rollout would then be consuming rather than compounding capital. ### Where does this page get Dr Agarwals Health Care's management information? From Dr Agarwals Health Care's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.