Shareholders meeting

Ref: AHCL/2026-27/C038 August 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No C/1, G Block, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai – 400 051 Scrip Code – 544350 Symbol : AGARWALEYE Dear Sir / Madam, Sub: Notice convening the Sixteenth Annual General Meeting of Dr. Agarwal’s Health Care Limited along with the Annual Report for the Financial Year 2025-2026 With reference to the captioned subject, we wish to inform that, the Sixteenth Annual General Meeting (‘AGM’) of the Members of the Company, shall be held on Monday, September 21, 2026, at 10:00 A.M. (IST) through the facility of Video Conferencing / Other Audio Visual Means (VC / OAVM). Pursuant to Regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, the Annual Report of the Company for the financial year 2025-26 along with the Notice convening the Sixteenth AGM comprising the items of business proposed to be transacted thereat are enclosed herewith and also made available on the Company’s website via the respective below links: Annual Report of the Company for the Notice convening the Sixteenth AGM of Financial Year 2025-2026 the Company on September 21, 2026 The Company has engaged the services of Cut-off date for Tuesday, National Securities Depository Limited e-voting eligibility September 15, 2026 (NSDL) for hosting and convening the 16th Thursday, AGM through VC / OAVM, and facilitating Commencement of September 17, 2026 at the e-voting process (remote and venue). e-voting period (9:00 A.M.) IST Conclusion of Sunday, September 20, The remote e-voting facility will be made e-voting period 2026 at (5:00 P.M.) IST available during the following period: The Notice along with the Annual Report of the Company are being sent only through electronic mode to those members whose email addresses are registered with the Company / Registrar and Transfer Agent / Depositories / Depository Participants and whose names appear on the Register of Members / Register of Beneficial Owners maintained by the Depositories as on Friday, August 21, 2026, being the cut-off date fixed for this purpose. Further, in accordance with Regulation 36(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a letter encompassing the direct web-link and a static QR Code to access the Annual Report of the Company, is being sent to those members whose e-mail addresses are not so registered, a copy of which is enclosed and also made available on the website of the Company at: www.dragarwals.co.in. Members are requested to refer to the enclosed AGM Notice for the detailed instructions regarding casting their vote(s) through remote e-voting prior to the meeting, e-voting during the AGM, and the process for attending the meeting electronically. We request you to kindly take the above on record. For Dr. Agarwal’s Health Care Limited Thanikainathan Arumugam Company Secretary and Compliance Officer Encl.: as above. ANNUAL REPORT 2025-26 WHERE THE FUTURE TAKES SHAPE DDRR.. A AGGAARRWWALA’SL’ HSE HAELTAHLT CHAR CEA LRIMEI TLEIMDITED Certain visuals in this Annual Report have been generated or enhanced using artificial intelligence (AI) to illustrate concepts and narratives. Unless otherwise stated, these images are representative in nature and should not be interpreted as literal or factual depictions of actual people, places, products, events, assets, or operations. Industry data and insights presented in this Annual Report have been sourced from the CRISIL Intelligence Industry Report, May 2026 Contents Corporate Overview Statutory Reports Highlights of the Year 04 Directors’ Report 38 Chairman’s Message 06 Management Discussion and Analysis 56 Key Performance Indicators 08 Corporate Governance Report 64 About Us 10 Strengths 17 Financial Statements Scalable, Asset-Light, Hub-And-Spoke 17 Standalone Financial Statements 80 Operating Model Qualified Team of Medical 20 Consolidated Financial Statements 166 Professionals with Consistent Focus on Attracting and Retaining Talent Notice to the Shareholders 266 Clinical Excellence as a 24 Sustainable Moat Trusted Consumer Healthcare 28 Services Brand Thoughtfully Designed Spaces in 30 the Right Places Harnessing Technology to Scale 32 Doctors-Promoters Supported by an 33 Experienced Management and Board Corporate Social Responsibility 37 Scan to see our Annual Report 2025-26 or Click on this Link: www.dragarwals.co.in 02 Dr. Agarwal’s Health Care Limited WHERE THE FUTURE TAKES SHAPE Corporate Overview Statutory Reports Financial Statements Annual Report 2025-26 03 Vision Quality eye care accessible to all Strategic Initiatives Scalable Greenfield Expansion Operational Excellence Clinical Leadership and Innovation Growth Enablers Clinical Talent Experienced Management Market Confidence Patient Trust Brand Equity Performance Sustainable and Consistent Growth Strengthened Market Leadership Reinvestment Talent Acquisition Network Expansion Technological Advancement Eye Care player in India with PAN India Presence (1)As per CRISIL intelligence 04 Dr. Agarwal’s Health Care Limited Operational Highlights 288 30,09,301 Eye Care Facilities Patients Served 22.0% 23.7% 3,23,245 968 Surgeries Performed Doctors across Network 14.5% 16.5% Financial Highlights 2,125 Cr 168 Cr Total Income Profit after Tax 20.9% 52.4% 7.9% 614 Cr 14.1% EBITDA(1) Same-Store Sales Growth 22.2% 28.9% % y-o-y Growth % Margins (1) IND AS EBITDA Corporate Overview Statutory Reports Financial Statements Annual Report 2025-26 05 A Defining Year for Greenfield Expansion 288 155 26 Facilities across India Cities across 14 states New cities and Africa and 5 union territories in India Our scale today is a clear reflection of disciplined greenfield execution Greenfield Facility Additions 10 30 5 20 Greenfield Facility Additions in last FY23 FY24 FY25 FY26 four Years Surgical Facilities (Secondary and Tertiary) Primary Facilities 06 Dr. Agarwal’s Health Care Limited CHAIRMAN’S MESSAGE Building the Future of Eye Care We are not merely building a larger eye care network; we are shaping the future of eye care — one defined by innovation, clinical excellence and accessibility Corporate Overview Statutory Reports Financial Statements Annual Report 2025-26 07 Dear Shareholders, repeatable playbook for launching and scaling greenfield facilities, FY26 has been another defining enabling faster ramp-up, improved year in our journey of transforming operating leverage, and stronger eye care. As we continue to pursue profitability with every successive We are entering a our purpose of making world- expansion cycle. Most importantly, defining chapter class ophthalmic care accessible our mature facilities are now to every patient, we remain generating the cash flows needed — one where our completely focused on delivering to fund our next phase of growth, scale, capabilities clinical excellence, expanding our creating a self-sustaining model reach, embracing innovation, and that allows us to expand without and ambition come creating long-term value for all our compromising financial discipline. together to create stakeholders. Strengthening our presence across lasting impact in India remains central to our long- Redefining term growth strategy. During the the global eye care Clinical Excellence year, we took a significant step industry towards this vision with our entry At Dr. Agarwal’s Health Care, into the Delhi NCR market—one innovation has always been at the of the country’s largest and most heart of our identity. This year, we witnessed a landmark moment in competitive healthcare markets. Looking Ahead In less than a year of operations, ophthalmology with the growing with Confidence we have established 7 facilities, adoption of Pinhole Pupilloplasty (PPP)—a pioneering procedure reflecting the speed and [Showing first 8,000 characters — download PDF for full document]