Financial Performance Overview

Dr. Agarwal's Health Care Limited reported strong financial results for FY26 with consolidated revenue of ₹2,080.08 crores (up 21.6% YoY) and profit after tax of ₹168.14 crores (up 52.4% YoY). The company operates 288 eye care facilities across India and Africa, serving 3 million patients with 323,245 surgeries performed during the year.

AGM and Corporate Governance

The Sixteenth Annual General Meeting is scheduled for September 21, 2026 via video conferencing, with e-voting available from September 17-20, 2026. Key agenda items include adoption of financial statements, reappointment of directors Dr. Anosh Agarwal and Mr. Ankur Nand Thadani, appointment of S.R. Batliboi & Associates LLP as statutory auditors until the 20th AGM, and revision of remuneration for Whole-time Directors Dr. Adil Agarwal and Dr. Anosh Agarwal.

Operational and Financial Highlights

  • Revenue Growth: Consolidated revenue increased to ₹2,080.08 crores with same-store sales growth of 14.1%
  • Profitability: PAT margin improved to 7.85% from 6.45% in FY25 with basic EPS at ₹4.21
  • Expansion: Significant acquisitions resulted in ₹735.78 crores goodwill and ₹407.95 crores intangible assets
  • Capital Structure: Maintained debt-equity ratio of 0.50 with strong operating cash flow of ₹519 crores
  • ESOP Program: Granted 709,500 options during the year with 2.45 million options outstanding

Balance Sheet and Key Metrics

  • Total Assets: Property, plant and equipment of ₹926.49 crores, right of use assets of ₹800.08 crores
  • Liquidity: Cash and equivalents of ₹90.55 crores with current ratio of 1.24
  • Lease Commitments: Total lease liabilities of ₹908.93 crores with undiscounted commitment of ₹1,387.60 crores
  • Employee Benefits: Gratuity obligation of ₹24.15 crores with ESOP expense of ₹7.39 crores

Subsidiaries and Corporate Actions

The company has five subsidiaries and nine step-down subsidiaries, including Aditya Jyot Eye Hospital Private Limited and Orbit Healthcare Services (Mauritius) Limited. Shareholders approved the merger with Dr. Agarwal's Eye Hospital Limited to create operational efficiencies. No dividend was recommended as the company requires funds to support growth objectives.

Compliance and Regulatory Matters

The company maintained full compliance with SEBI Listing Regulations and Companies Act, 2013. Auditors issued unmodified opinions on both standalone and consolidated financial statements. Key audit matters included impairment assessment of goodwill and intangible assets, allowance for credit losses, and valuation of call/put options for non-controlling interest.

Contingencies and Risks

  • Direct tax disputes of ₹58.63 crores for assessment years 2014-15 to 2023-24
  • Indirect tax disputes of ₹9.27 crores and consumer claims of ₹0.47 crores
  • ₹5.29 crores deposited under protest for income tax demands

Signatories and Approval

The financial statements were approved by the Board on May 21, 2026 and signed by Dr. Adil Agarwal (CEO), Dr. Anosh Agarwal (COO), Mr. Yashwanth Venkat (CFO), and Mr. Thanikainathan Arumugam (Company Secretary). The audit report was signed by Aravind K, Partner of S.R. Batliboi & Associates LLP.