DR AGARWALS HEALTH CARE L

Operates a chain of eye-care hospitals and primary clinics across India, with FY26 revenue from operations of INR 2,080 crores. Surgical services contributed 67% of group revenue, with the balance from primary clinics and consultations. In FY26 the network performed 3,23,000+ surgeries (up 14.5% YoY), including 62,800 cataract procedures, of which 5,900+ were robotic Femto Cataract surgeries. Patient payor mix stood at 62.4% cash, 28.5% insurance/TPA and 9% government schemes. Employee costs of 19.4% of revenue are the largest named operating cost, alongside other operating expenses of 43.9% and depreciation at 13.3% of revenue. The business is in an expansion phase, having commissioned 19 greenfield facilities in Q4 FY26 and guiding to 60 more in FY27 (40 surgical centres and 20 clinics) with planned capex of INR 380-400 crores.