Dr. Agarwals Health Care Ltd

Meeting Details

• Sept 16, 2026: Jefferies India Forum, physical, group & one-on-one, Gurgaon
• Sept 17–18, 2026: Kotak Healthcare Forum, physical, group & one-on-one, Mumbai

Participants

• Company officials to participate in investor conferences

Purpose

• Investor interaction at scheduled conferences; no unpublished price-sensitive information disclosed

Encumbrance on shares

• Target Company: Dr. Agarwal's Health Care Limited.
• Disclosing party: Catalyst Trusteeship Limited, non-promoter onshore security agent.
• Pre-transaction encumbrance: 41,495,685 shares (13.09%).
• Encumbrance created: 7,538,303 shares (2.38%).
• Post-transaction encumbrance: 49,033,988 shares (15.47%).
• Date of pledge creation: 21 August 2026.
• Mode: creation of encumbrance by pledge.
• Total equity capital before/after: 316,983,028 shares; diluted: 319,262,876.

Sale details

• Target: Dr. Agarwal's Health Care Limited.
• Disclosing Party: Claymore Investments (Mauritius) Pte. Ltd.; PAC Arvon Investments Pte. Ltd.
• Promoter status: Not a promoter or promoter group.
• Pre-sale holding: Seller 3,22,96,300 shares (10.19%); PAC 3,12,75,470 shares (9.87%).
• Total pre-holdings: 6,35,71,770 shares (20.06%).
• Transaction: Sale of voting rights.
• Shares sold: 1,59,00,000 shares; 5.02% of voting capital; open market.
• Post-sale holding: Seller 1,63,96,300 shares (5.17%); PAC 3,12,75,470 (9.87%).
• Total post-holdings: 4,76,71,770 shares (15.04%); diluted 14.93%.
• Date: August 12, 2026.
• Equity share capital before: INR 31,69,83,028.
• Equity share capital after: INR 31,69,83,028.
• Total diluted share capital after: INR 31,92,62,876.

Target and Disclosing Party

• Target: Dr. Agarwal's Health Care Limited.
• Disclosing Party: Hyperion Investments Pte. Ltd., non-promoter.

Pre-Transaction Holding

• Pre-transaction holding: 73,193,988 shares (23.09%), encumbrances Nil, VR Nil.

Transaction Details

• Sale of 24,160,000 shares (7.62%), equity shares, through stock exchanges.

Post-Transaction Holding

• Post-transaction holding: 49,033,988 shares (15.47%), diluted 15.36%.

Date and Capital Context

• Date of sale: 12 August 2026.
• Capital context: before/after 316,983,028 shares; diluted post 319,262,876.

Acquisition details

• Target company: Dr Agarwal's Health Care Limited.
• Acquirer and PACs: Invesco Mutual Fund via listed schemes.
• Acquirer promoter group: No.
• Stock exchanges: Listed on BSE Limited and NSE.
• Pre-acquisition holding: 95,86,950 shares, 3.0240% voting rights.
• Acquisition: 69,38,186 voting rights shares acquired, 2.1885%.
• Post-acquisition holding: 1,65,25,136 shares, 5.2125%.
• Mode of acquisition: Open Market.
• Date of acquisition: August 12, 2026.
• Equity share capital before/after: Rs 31,70,26,183 comprising 31,70,26,183 shares.
• Encumbrances: Nil post-acquisition.

Target & disclosure

• Target: Dr. Agarwal's Health Care Limited
• Disclosing Party: Catalyst Trusteeship Limited (onshore security agent), not promoter group
• Transaction: partial release of encumbrance over shares

Pre-transaction holding

• Before: 73,193,988 encumbered shares (23.09%), voting rights Nil

Transaction details

• Released encumbrance: 31,698,303 shares (9.93%)
• Mode: Partial release of encumbrance; Date: 11 August 2026

Post-transaction holding

• After: 41,495,685 encumbered shares (12.99%), voting rights Nil

Capital context

• Equity share capital before/after: 316,983,028 shares
• Total diluted share capital after: 319,262,876 shares

Acquisition details

• Acquirer: ICICI Prudential Mutual Fund; PACs: none disclosed.
• Promoter group: acquirer not part of promoter/promoter group.
• Listing exchanges: BSE Limited and National Stock Exchange of India Limited.
• Date of acquisition: 12 August 2026.
• Voting shares acquired: 16,999,999 (5.36% voting; 5.32% diluted).
• Post-acquisition stake: 5.36% voting; 5.32% diluted.
• Mode: Open Market.
• Pre-acquisition equity capital: 31,69,83,028 shares (₹1 each).
• Post-acquisition equity capital: 31,69,83,028 shares (₹1 each).
• Total diluted voting capital after acquisition: 31,92,62,876 shares.

Financial Performance

• Q1 FY27 revenue from operations: INR614 crores, up 26% YoY.
• Total income: INR620 crores, up 24% YoY.
• Ind AS EBITDA: INR177 crores, up 25.2% YoY; margin 28.5%.
• PAT margin expanded to 8.9% (up 127 bps).
• Greenfield losses around INR20 crores at corporate EBITDA level.
• Surgeries performed: ~91,000; YoY growth 15.5%.

Operations and Volumes

• Payer mix: 63.6% cash, 27.7% insurance/TPA, 8.6% government schemes.
• Surgeries constitute 66% of group revenue; non-surgical 12%; optical/pharmacy 22%.
• Cataract surgeries ~74% of total; refractive ~4.4%.
• SSSG up to FY23 facilities: volume +8%, value +8% (OPD +6%, conversion +2%).
• North region revenue: INR57 crores, +50.5% YoY; 30 facilities, 6 new this quarter.

Regional and Network Growth

• Southern region: INR387 crores, +22.8% YoY; 63% of group revenue; 189 facilities.
• West region: INR91 crores, +24% YoY; 52 facilities; 5 new greenfields launched this quarter.
• Delhi NCR: 8 facilities; hub-and-spoke model; 3-5 more planned this year.
• East region: INR16 crores, +21% YoY; 14 facilities; Kolkata leadership team.
• Network: 285 facilities across 14 states and 5 union territories; 165 cities.

Expansion and Capex

• FY27 plan to add 60 facilities, including 40 surgical centers.
• Q1 launched 18 facilities; 16 surgical—a quarterly record.
• Q2 target: 12 facilities; H2: 30; 30+ LOIs signed; strong pipeline.
• 166 greenfield facilities added since FY23; 18 added this quarter.

Q&A Highlights

• Doctors added: 1,057; up ~23% YoY; primarily for new centers.
• SSSG South centers around 16.5% (FY26 cohort).
• Femto cataract adds ~INR35,000 per case; license ~INR10,500–11,000.
• Interest: deferred acquisition payable interest fell; total finance cost declined to INR23.5 crores.
• Merger update: closing targeted around mid-November.
• Attrition: overall doctors 16–17%; senior doctors 2–3%.

Guidance and Outlook

• Continue growth momentum via deeper micro-market penetration and new geographies.
• Accelerate adoption of innovative surgical procedures and advanced technologies.

Merger Update

• Merger expected to close around mid-November.

Board Meeting Details

• Date/time: Aug 04, 2026; board meeting to approve unaudited results for quarter ended Jun 30, 2026.
• Type: board meeting; mode: not specified.
• Organizer: Board of Directors.

Board Meeting Participants

• Key participants: CEO (Whole-time Director), CFO, Head of Investor Relations.

Board Meeting Purpose

• Purpose: consider and approve unaudited standalone and consolidated results for the quarter ended Jun 30, 2026.

Analyst Conference Call Details

• Date/time: Aug 04, 2026, 05:30–06:30 PM IST.
• Mode: virtual earnings/analyst conference call.
• Key participants: CEO, CFO, Head of Investor Relations.
• Purpose: discuss unaudited financial results for the quarter ended Jun 30, 2026.

Meeting Details

• Board meeting on Aug 04, 2026 to consider unaudited results for quarter ended June 30, 2026.

Key Agenda Items

• Approve unaudited standalone and consolidated results for quarter ended June 30, 2026.

Other Notes

• Earnings/Analyst conference call on Aug 04, 2026 at 5:30 PM IST.