Dr. Agarwal's Health Care posted a 55.8% jump in quarterly profit as revenue hit a record ₹655 crore. The growth was fueled by adding 21 new facilities and an 18.8% same-store sales surge.
For Dr. Agarwal's Health Care, growth is a function of footprint. The September quarter saw the eye-care chain execute its fastest-ever expansion, adding 21 new facilities to push revenue to a record ₹655 crore.
Profit followed, rising 55.8% year-on-year to ₹56.85 crore. The quarter's scorecard shows a business scaling rapidly while its established centers keep delivering.
Revenue & profit
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
Metric
CurrentQ2 FY27
PreviousQ1 FY27
Same quarter LYQ2 FY26
Revenue (₹ Cr)
655.46YoY +31%
614.02
498.69
Profit (₹ Cr)
56.85YoY +56%
55.02
36.49
Net Profit Margin
8.7%YoY +19%
9.0%
7.3%
The Engine of Record Expansion
Management, on the AlphaStreet earnings call, called it a record quarter for network growth. The 21 new centers included 19 greenfield sites and two acquisitions in Delhi NCR.
This brought the total network to 324 facilities. Surgical volumes rose 22.2% to 95,841 procedures, according to a report from Sahi.com.
Why Margins Held Despite the Sprint
Adding so many centers so fast comes with a cost. Employee expenses rose 31.1%, slightly outpacing revenue, as the company staffed its new locations.
This contributed to a slight 30-basis-point sequential dip in net profit margin. Yet margins year-on-year expanded a healthy 140 basis points, showing the underlying business is profitable even while sprinting.
The Outlook: Guidance Raised, Capex Up
The company is so confident in its execution that it raised its full-year expansion target. Management now aims to add 65 facilities in FY27, up from 60, with 55 of them being surgical centers.
Capital expenditure guidance was also revised upward from the earlier ₹400 crore plan. This aggressive growth is funded internally, with net proceeds from borrowings turning negative in the first half, as noted in the Arthneeti investor presentation.
Key Points
Revenue grew 31.4% year-on-year to a record ₹655.46 crore, while profit jumped 55.8% to ₹56.85 crore.
A record 21 new facilities were added in the quarter, driving surgical volume growth of 22.2%.
The company raised its full-year expansion guidance to 65 new facilities, indicating strong execution visibility.
Net profit margin expanded 140 basis points year-on-year but dipped slightly sequentially due to costs from rapid expansion.
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Hexa Perspective
The quarter confirms Dr. Agarwal's operational playbook is working. Same-store sales growth of 18.8% proves demand in existing markets is robust, providing a cash engine to fund new greenfield sites.
The slight sequential margin compression is the trade-off for this pace, not a structural issue. The raised guidance signals management expects this balance—strong growth with stable margins—to hold for the rest of the year, provided the surgical volume ramp at new centers stays on track.
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Frequently asked questions
What were Dr. Agarwal's Health Care's Q2 FY27 results?
Dr. Agarwal's Health Care reported a 55.8% year-on-year increase in net profit to ₹56.85 crore for Q2 FY27 (September 2026 quarter). Revenue from operations grew 31.4% to ₹655.46 crore, marking its highest-ever quarterly revenue.
What drove Dr. Agarwal's 31.4% revenue growth in Q2 FY27?
The growth was driven by record network expansion and strong same-store sales. The company added 21 new eye care centers in the quarter, taking its total network to 324 facilities. Surgical procedure volume grew 22.2% year-on-year to 95,841, as reported by Sahi.com.
Why did Dr. Agarwal's net profit margin decline slightly from the previous quarter?
The net profit margin dipped 30 basis points sequentially to 8.7% in Q2 FY27, as costs to integrate 21 new facilities added during the quarter outpaced revenue growth slightly. Employee costs, for instance, rose 7.4% quarter-on-quarter.
Did Dr. Agarwal's Q2 profit benefit from any one-off income?
The results show no indication of significant one-off income driving the 55.8% profit jump. The growth appears operational, supported by a 48.9% rise in profit before tax and improved tax efficiency, leading to a 134 basis point expansion in PAT margin year-on-year.
What was the contribution of Africa operations to Q2 FY27 revenue?
According to the AlphaStreet earnings call transcript, Africa operations contributed about 10.4% of the group's revenue in the first half of FY27. Revenue from Africa grew 31.1% year-on-year during this period.
What guidance did management provide for FY27?
Management raised its full-year expansion guidance. The company now targets adding 65 new facilities in FY27, up from 60, with 55 of them being surgical centers. Capital expenditure guidance was also revised upward from the earlier ₹400 crore plan.
What is the status of Dr. Agarwal's new hospital expansion and capex plans?
The company added 39 facilities in the first half of FY27 and plans to add 26 more in the second half. Capital expenditure for tangible and intangible assets was ₹220 crore in H1 FY27, as per the Arthneeti presentation, with full-year guidance revised upward.
Did Dr. Agarwal's Q2 FY27 results beat analyst estimates?
The available research does not cite specific consensus estimates for comparison. The company reported revenue and profit growth of 31.4% and 55.8% year-on-year, respectively, which management characterized as a 'strong and consistent performance' on its earnings call.
Which brokerages changed their rating after the Q2 results?
The provided research snippets do not contain information on brokerage rating or target price changes following the Q2 FY27 results announcement.
Are institutional investors increasing their stake in Dr. Agarwal's?
Yes, shareholding data shows institutional investors increased their stake in the September 2026 quarter. Domestic institutional investors (DIIs) raised their holding by 8.15 percentage points to 15.87%, while foreign portfolio investors (FPIs) also increased their stake by 4.24 points to 19.06%.
How did Dr. Agarwal's stock price react to the Q2 results?
On the results date, November 5, 2026, Dr. Agarwal's stock closed at ₹511.70, down 2.25% for the day. Data from DalalOS shows the stock had fallen 0.66% over the preceding year.
Dr. Agarwal's Health Care Q2 FY27 results August 2026
Dr. Agarwal's Health Care announced its Q2 FY27 results for the quarter ended September 2026 on November 5, 2026. The company reported a net profit of ₹56.85 crore, up 55.8% from the year-ago quarter, and revenue of ₹655.46 crore, up 31.4%.
Dr Agarwals Health Care Q2 results
Dr. Agarwal's Health Care reported Q2 FY27 results with revenue of ₹655.46 crore and a net profit of ₹56.85 crore. This represented year-on-year growth of 31.4% and 55.8%, respectively, driven by the addition of 21 new facilities in the quarter.
Dr Agarwals Health Care quarterly profit increase
Dr. Agarwal's Health Care's quarterly net profit increased by 55.8% year-on-year to ₹56.85 crore in Q2 FY27 (September 2026). This was driven by record revenue growth of 31.4%, fueled by strong surgical volumes and network expansion.
