Dr. Agarwal's Health Care Limited IPO

Incorporated in 2010, Dr. Agarwal’s Health Care Limited offers a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.

As of September 30, 2024, there were 737 doctors providing care to patients across the company’s facilities. During this period, the company served 2.13 million patients and performed 220,523 surgeries. In the six months leading up to September 30, 2024, they served 1.15 million patients and conducted 140,787 surgeries.

The Services provided by the company are:-

Cataract surgeries Offer cataract surgical treatments at its Facilities, such as small incision cataract surgery, phacoemulsification, robotic cataract surgery and glued intraocular lens treatments;

Refractive surgeries: Refractive surgeries are procedures that correct eye refractive errors, helping individuals reduce or eliminate their need for glasses and contact lenses. The main types include LASIK, SMILE, implantable collamer lenses, and photorefractive keratectomy (PRK).

Other surgeries: Offer a range of other surgical treatments for eye ailments, such as surgical retinal treatments, corneal transplantation and pinhole pupilloplasty, oculoplasty and surgeries for the treatment of glaucoma and pterygium.

As of September 30, 2024, the company’s Indian network has 28 hubs (Tertiary Facilities, including three COEs) and 165 spokes (53 Primary and 112 Secondary Facilities).

As of September 30, 2024, the company has a presence in India across 117 metro and non-metro cities spanning 14 states and four union territories through 193 Facilities.

Competitive Strength

  • Largest eye care services provider in India with a trusted brand
  • End-to-end, comprehensive eye care services offering
  • Scalable, asset-light, hub-and-spoke operating model
  • Proven clinical excellence is driven by a strong clinical board and a history of surgical innovations. 
  • Doctor-promoters leading a team of qualified medical professionals and supported by experienced management
  • Proven track record of delivering organic growth, integrating and scaling acquisitions and improving operating profitability

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

Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets3,393.412,752.821,825.171,026.13
Revenue837.941,376.451,031.49713.78
Profit After Tax39.5695.05103.2343.16
Net Worth1,502.671,337.68627.83212.34
Reserves and Surplus1,509.111,365.86652.63236.27
Total Borrowing373.68387.79356.18290.18
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Dr Agarwals Healthcare IPO is Rs 12698.37 Cr.

KPI as of Sun, Mar 31, 2024.

KPIValues
ROE9.33%
ROCE14.61%
RoNW6.21
PAT Margin6.90
Price to Book Value7.96
 Pre IPOPost IPO
EPS (Rs)3.082.51
P/E (x)130.44160.48
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Objects of the Issue (Dr Agarwals Healthcare IPO Objectives)

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.

Dr Agarwals Healthcare IPO Details

IPO DateJanuary 29, 2025 to January 31, 2025
Listing Date[.]
Face Value₹1 per share
Price Band₹382 to ₹402 per share
Lot Size35 Shares
Total Issue Size7,53,04,970 shares
(aggregating up to ₹3,027.26 Cr)
Fresh Issue74,62,686 shares
(aggregating up to ₹ 300.00 Cr)
Offer for Sale6,78,42,284 shares of ₹1
(aggregating up to ₹2,727.26 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share Holding Pre Issue30,84,17,160 shares
Share Holding Post Issue31,58,79,846 shares

Dr Agarwals Healthcare IPO Promoter Holding

The Promoters of the Company are Dr. Amar Agarwal, Dr. Athiya Agarwal, Dr Adil Agarwal, Dr. Anosh Agarwal, Dr Ashvin Agarwal, Dr. Ashar Agarwal, Dr. Amar Agarwal Family Trust, Dr Adil Agarwal Family Trust, Dr. Anosh Agarwal Family Trust, Dr Ashvin Agarwal Family Trust, Dr. Ashar Agarwal Family Trust, Dr Agarwal’s Eye Institute and Dr Agarwal's Eye Institute Private Limited

Share Holding Pre Issue37.72%
Share Holding Post Issue32.50%

SHARIAH SCREENING for - Dr. Agarwal's Health Care Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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