Dr. Agarwal's Health Care Limited (AGARWALEYE.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-82.0%

₹92.37

vs ₹512.00 price

Levered DCF

₹79.17

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	96.57×	161.8×	148.72×	131.23×	326.46×	-223.08×
P/B	6.35×	7.19×	9.16×	19.62×	58.15×	67.03×
P/S	6.18×	7.85×	9.27×	12.15×	17.76×	26.21×
EV / EBITDA	24.23×	28.29×	29.34×	46.08×	65.62×	147.83×
Gross margin	31.2%	57.9%	42.5%	45.1%	44.5%	61.0%
Operating margin	14.1%	40.8%	14.8%	14.7%	12.7%	56.0%
Net margin	6.4%	4.9%	6.2%	9.3%	5.4%	-11.8%
Current ratio	1.24×	1.66×	1.85×	1.03×	1.1×	1.03×
Debt / equity	0.53×	0.51×	0.72×	1.36×	2.91×	2.54×
Interest coverage	3.24×	6.42×	1.97×	1.95×	1.81×	6.54×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.8%	0.9%	0.9%	0.5%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	6.6%	4.5%	6.2%	14.9%	17.7%	-30.1%
Return on invested capital	5.5%	14.4%	5.3%	9.2%	7.6%	38.9%
Return on assets	3.4%	2.3%	3.0%	5.2%	3.7%	-7.0%
Free cash flow yield	0.5%	0.2%	0.9%	0.6%	0.8%	-0.2%
Earnings yield	1.0%	0.6%	0.7%	0.8%	0.3%	-0.4%
Enterprise value	₹138B	₹141.3B	₹132.1B	₹130.8B	₹128.7B	₹127.6B
Net debt / EBITDA	1.65×	1.41×	1.9×	2.57×	2.65×	4.79×
Cash conversion cycle (days)	14	-11	-39	-15	-23	-56