About Company

• The Company was incorporated as ‘Dr. Agarwal’s Health Care Ltd’ at Chennai, Tamil Nadu as a public Ltd company in April 2010. The company provides a comprehensive range of eye care services, including cataract, refractive and other surgeries; consultations, diagnoses and non-surgical treatments; and sells opticals, contact lens and accessories, and eye care related pharmaceutical products.

• Dr. Agarwal’s Health Care is India’s largest eye care service chain by revenue from operations for the FY 2024, with ~ 1.7 times the revenue from operations of the second- largest eye care service chain in the country. The company had a market share of ~ 25% of the total eye care service chain market in India during the FY 2024.

• As of September 30, 2024, the company had 737 doctors, who specialize in multiple super-specialties, including, cataract, cornea, retinal and refractive surgery, glaucoma, oculoplasty, and neuro-ophthalmology, among others.

• During FY 2024, the company served 2.13 million patients and performed 220,523 surgeries, while for 6 months ended September 30th, 2024, the company served 1.15 million patients and performed 140,787 surgeries.

• The company provides a comprehensive range of eye care services through a network of Facilities. As of September 30, 2024, the company had 193 Facilities in India spanning 14 states and 4 union territories, and 16 Facilities spread across 9 countries in Africa.

• The company’s Facilities have received national and international accreditations, such as from the National Accreditation Board for Hospitals and Healthcare Providers (the “NABH”). As of December 2024, the company had the highest number of NABH-accredited eye care facilities with 29 accredited eye care facilities.

• The company’s Revenue from Operations grew to ? 1,332.15 Cr for the FY 2024 from ? 696.08 million for the 2022. The EBITDA increased to ? 406.56 Cr for FY 2024 from ? 199.82 Cr for FY 2022. As of September 30, 2024, the company’s debt-to-equity ratio was 0.66x, as against 0.70 x in FY2024 and 2.71x as of March 31, 2022. The company is the only specialty eye care service provider to experience an increase in its operating profit margin from the FY 2023 to 2024.

Strengths

Competitive Strength 

• Largest eye care services provider in India with a trusted brand

• End-to-end, comprehensive eyecare services offering

• Scalable, asset-light, hub-and-spoke operating model

• Proven clinical excellence driven by a strong clinical board and history of surgical innovations

• Doctor-promoters leading a team of qualified medical professionals and supported by an experienced management

• Proven track record of delivering organic growth, integrating and scaling acquisitions and improving operating profitability

Business Strategies 

• Continued organic expansion of the network in India

• Strengthen the brand equity with community, patients, and doctors across India

• Undertake opportunistic acquisitions and restructuring to scale the operations, leveraging the experience of inorganic growth and integration

• Attracting and retaining qualified doctors and paramedics through continuous training, knowledge sharing and upskilling

• Focus on improving profitability and Facility-level growth and enhancing operational efficiencies

Company Promoters

Company Financials

Dr. Agarwal's Health Care Limited Financial Information (Restated Consolidated)

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:

1. Repayment/prepayment, in part or full, of certain of the borrowings and
2. General corporate purposes and unidentified inorganic acquisition.