Dr Agarwals Health Care Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 6 Aug 2026 | Healthcare Services | Market Cap: ₹16.5K Cr
Southern region remains the largest market, showing strong growth (22.2% YoY), with plans to add 17 new facilities in the next two quarters, reinforcing growth. H2 FY26 expected to be stronger than H1 in revenue and EBITDA, maintaining EBITDA margins around 26%-27%.
From Dr Agarwals Health Care Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹500
Market Cap
₹16.5K Cr
P/E Ratio
111.9
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Dr Agarwals Health Care Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹564 Cr, net profit ₹50 Cr.
Full financials →📊 Revenue & Sales Performance
- →Southern region remains the largest market, showing strong growth (22.2% YoY), with plans to add 17 new facilities in the next two quarters, reinforcing growth.
- →Telangana has seen significant growth with 42% top-line and 44% EBITDA growth YoY, driven by same-store sales and new facilities.
- →Mature facilities show healthy same-store sales growth around 13.4%-13.9%.
- →Expansion into Tier 2 and Tier 3 cities is a key growth driver, supported by localized hiring, advanced technology, and strong branding.
- →Over 30 new facilities planned across the country in coming quarters, targeting rapid penetration including Delhi-NCR.
- →Surgery volumes increased 14.6% YoY in H1 FY'26, with cataract and refractive surgeries growing robustly.
- →Revenue growth expected to be sustained with 5%-6% price realization improvement driven by premiumization.
- →H2 typically stronger than H1; margins expected to be stable around 26%-27% despite expansion.
📈 Profitability & Margins
- →H2 FY26 expected to be stronger than H1 in revenue and EBITDA, maintaining EBITDA margins around 26%-27%.
- →EBITDA for 2Q at INR136 crores, with growth forecasted in H2 but margins expected to be stable due to expansion costs.
- →EPS and PAT have shown strong growth trends, with PAT up 88.4% YoY in H1 FY26 and margin expansion by 270 bps, indicating improving profitability.
- →Greenfield facilities' margins expected to reach 30%-32% by fifth year, after gradual improvement from breakeven at 12-15 months.
- →Revenue growth driven by volume growth (~8%), value growth (~4.8%), and new center additions; premiumization supports 4-5% price growth per surgery.
- →Telangana region showing impressive growth (42% top line, 44% EBITDA growth), contributing significantly to overall performance.
- →Strong same-store sales growth (~13% for mature facilities) and ongoing network expansion support sustained earnings growth.
🏗️ Capital Expenditure Plans
- →Capex guidance for FY26 remains at INR 310 crores, plus INR 70 crores for flagship facilities.
- →Planning to launch another 30 facilities in the next two quarters of FY26: 17 in South, 6 in West, 4 in North, and 4 in East regions.
- →Continued investments in advanced technology and premium equipment such as robotic cataract systems (Femto Cataract) to drive premiumization.
- →Expansion focus in high-potential underserved markets, especially in Karnataka, Andhra Pradesh, and Delhi-NCR.
- →Recent facility relocations and upgrades, e.g., Whitefield Bangalore (upgraded from secondary to tertiary), intensify business contribution.
- →Ongoing refurbishment works in acquired units (e.g., Jalandhar unit) to boost future performance.
- →Emphasis on disciplined execution and operational efficiencies to sustain growth while managing capex.
💰 Fundraising & Capital Structure
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Dr Agarwals Health Care Ltd Q2 FY26 results?
Southern region remains the largest market, showing strong growth (22.2% YoY), with plans to add 17 new facilities in the next two quarters, reinforcing growth. H2 FY26 expected to be stronger than H1 in revenue and EBITDA, maintaining EBITDA margins around 26%-27%.
What is Dr Agarwals Health Care Ltd share price analysis?
Dr Agarwals Health Care Ltd currently shows a neutral. The stock trades at a P/E of 111.9 with a market cap of ₹16,519 Cr. Investors should review the full earnings analysis for detailed insights.
Is Dr Agarwals Health Care Ltd planning capital expenditure?
Capex guidance for FY26 remains at INR 310 crores, plus INR 70 crores for flagship facilities.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.