Financial Results Approval

The Board of Directors approved the Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended September 30, 2026, pursuant to Regulation 33 of SEBI Listing Regulations. The results were reviewed by M/s. S.R. Batliboi & Associates LLP, Chartered Accountants, the Statutory Auditors.

The financial results will be published in newspapers in compliance with Regulation 47 and made available on the company website at www.dragarwals.co.in.

Key Financial Highlights (Consolidated)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹655.46 Crores (31.4% YoY growth)
  • Total Income: ₹665.21 Crores (31.3% YoY growth)
  • EBITDA: ₹185.56 Crores (28.8% YoY growth)
  • EBITDA Margin: 27.9% (vs 28.4% in Q2 FY26)
  • Profit After Tax: ₹56.85 Crores (55.8% YoY growth)
  • PAT Margin: 8.5% (vs 7.2% in Q2 FY26)
  • Basic EPS: ₹1.65 (not annualized)
  • Diluted EPS: ₹1.64 (not annualized)

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹1,269.48 Crores (28.7% YoY growth)
  • Total Income: ₹1,285.64 Crores (27.6% YoY growth)
  • EBITDA: ₹362.38 Crores (27.0% YoY growth)
  • EBITDA Margin: 28.2% (vs 28.3% in H1 FY26)
  • Profit After Tax: ₹111.87 Crores (50.1% YoY growth)
  • PAT Margin: 8.7% (vs 7.4% in H1 FY26)
  • Basic EPS: ₹3.20 (not annualized)
  • Diluted EPS: ₹3.19 (not annualized)

Operational Highlights

  • Network expanded to 324 facilities as of September 30, 2026 (305 in India, 19 in Africa)
  • 21 new centers added in Q2 FY27 (1 tertiary, 17 secondary, 3 primary facilities)
  • 39 new centers added in H1 FY27 (3 tertiary, 31 secondary, 5 primary facilities)
  • 95,841 surgeries performed in Q2 FY27 (22.2% YoY growth)
  • 186,923 surgeries performed in H1 FY27 (18.8% YoY growth)
  • 18.8% Same Store Sales Growth (SSSG) in Q2 FY27 across facilities set up/acquired up to H1 FY24
  • 17.7% SSSG in H1 FY27
  • Revenue mix: Sale of Services 78.0%, Sale of Products 22.0% in Q2 FY27
  • Revenue from Operations India: ₹586 Crores in Q2 FY27 (31.6% YoY growth)

Management Appointment

Consequent to the effectiveness of the Scheme of Amalgamation between Dr. Agarwal's Eye Hospital Limited and Dr. Agarwal's Health Care Limited, the Board approved the appointment and re-designation of Dr. Amar Agarwal (DIN: 00435684), Chairman and Non-Executive Director, as Executive Chairman (Whole-Time Director) for a period of three years effective November 01, 2026.

Terms of Appointment:

  • Remuneration terms identical to those drawn at Dr. Agarwal's Eye Hospital Limited
  • Subject to approval of members via Postal Ballot process
  • Dr. Amar Agarwal is 66 years old with over 40 years of experience in eye care industry
  • He holds MS, FRCS, FRC Opht (London) qualifications
  • He is the father of Dr. Adil Agarwal (CEO) and Dr. Anosh Agarwal (COO)

Postal Ballot Process

The Board approved convening a Postal Ballot under Section 110 of Companies Act, 2013 to seek member approval for Dr. Amar Agarwal's appointment as Executive Chairman. The company will inform stock exchanges about dispatch of Postal Ballot Notice, cut-off for e-voting, e-voting period, and subsequent developments.

Scheme of Amalgamation Details

The Hon'ble NCLT, Chennai Bench approved the Scheme of Amalgamation of Dr. Agarwal's Eye Hospital Limited (Transferor Company) with Dr. Agarwal's Health Care Limited (Transferee Company) vide order dated September 30, 2026. The certified copy was filed with ROC on October 14-15, 2026, making the scheme effective from November 1, 2026, with April 1, 2026 as Appointed Date.

Share Exchange Ratio: 23 equity shares of ₹1 each of DAHCL for every 2 equity shares of ₹10 each of DAEHL

Record Date: November 18, 2026 for determining eligible shareholders

Share Capital Increase: 1,51,90,373 equity shares of ₹1 each (currently disclosed as "Equity share capital pending issuance")

Other Corporate Developments

  • During H1 FY27, the company allotted 2,18,677 equity shares pursuant to ESOP exercise at prices ranging from ₹84.93 to ₹135.00 per option
  • Paid-up share capital stands at ₹31.70 Crores comprising 31,70,26,183 equity shares
  • During Q2 FY27, completed acquisition of a hospital group in North India for ₹56 Crores
  • IPO proceeds utilization: ₹195 Crores for debt repayment, ₹92.35 Crores for general corporate purposes, ₹12.65 Crores for IPO expenses

Meeting Details

The Board meeting commenced at 04:45 PM IST and concluded at 05:53 PM IST on November 05, 2026.

Auditor Review

The limited review was conducted by S.R. Batliboi & Associates LLP (Firm Registration No: 101049W/E300004), who issued an unmodified conclusion on the financial results.