{"id":301811,"date":"2026-10-12T12:14:27","date_gmt":"2026-10-12T06:44:27","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=301811"},"modified":"2026-10-12T12:14:27","modified_gmt":"2026-10-12T06:44:27","slug":"eye-care-device-and-biotech-stocks-future-growth-watchlist","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/","title":{"rendered":"3 Eye Care, Device and Biotech Stocks With a Strong Future Roadmap: Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Dr. Agarwal&#8217;s Health Care Rs 477.75, P\/E 80.51. Poly Medicure Rs 1,587.10, P\/E 51.87. Concord Biotech Rs 1,361.40, P\/E 51.00. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Eye care, device and biotech stocks with the clearest long-term roadmaps today include Dr. Agarwal&#8217;s Health Care in eye care hospital network, Poly Medicure in medical disposables and Concord Biotech in fermentation-based ingredients. P\/E stands at 80.51 for Dr. Agarwal&#8217;s Health Care (industry 62.79), 51.87 for Poly Medicure (industry 62.79) and 51.00 for Concord Biotech (industry 37.59). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Eye care, device and biotech stocks give investors exposure to eye care, hospital disposables and specialty drug ingredients. Patient volumes, export orders and margins decide how much of that demand turns into profit.<\/p>\n<p>This list covers three eye care, device and biotech stocks: Dr. Agarwal&#8217;s Health Care for eye care hospital network, Poly Medicure for medical disposables and Concord Biotech for fermentation-based ingredients. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=eye-care-device-and-biotech-stocks-future-growth-watchlist\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#What_Are_Eye_Care_Device_and_Biotech_Stocks\" title=\"What Are Eye Care, Device and Biotech Stocks?\">What Are Eye Care, Device and Biotech Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Eye_Care_Device_and_Biotech_Stocks_at_a_Glance\" title=\"Eye Care, Device and Biotech Stocks at a Glance\">Eye Care, Device and Biotech Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Why_Do_Eye_Care_Device_and_Biotech_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Eye Care, Device and Biotech Stocks Have a Strong Roadmap in India?\">Why Do Eye Care, Device and Biotech Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Dr_Agarwals_Health_Care_A_Growing_Eye_Care_Network_Drives_the_Pipeline\" title=\"Dr. Agarwal&#8217;s Health Care: A Growing Eye Care Network Drives the Pipeline\">Dr. Agarwal&#8217;s Health Care: A Growing Eye Care Network Drives the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Poly_Medicure_Medical_Devices_Build_the_Next_Leg\" title=\"Poly Medicure: Medical Devices Build the Next Leg\">Poly Medicure: Medical Devices Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Concord_Biotech_Fermentation_Ingredients_Drive_the_Pipeline\" title=\"Concord Biotech: Fermentation Ingredients Drive the Pipeline\">Concord Biotech: Fermentation Ingredients Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Best_Eye_Care_Device_and_Biotech_Stocks_in_India_Dr_Agarwals_Health_Care_vs_Poly_Medicure_vs_Concord_Biotech_on_Key_Financials\" title=\"Best Eye Care, Device and Biotech Stocks in India: Dr. Agarwal&#8217;s Health Care vs Poly Medicure vs Concord Biotech on Key Financials\">Best Eye Care, Device and Biotech Stocks in India: Dr. Agarwal&#8217;s Health Care vs Poly Medicure vs Concord Biotech on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#How_to_Evaluate_Eye_Care_Device_and_Biotech_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Eye Care, Device and Biotech Stocks to Buy Before You Invest\">How to Evaluate Eye Care, Device and Biotech Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Risks_to_Consider_Before_Investing_in_Eye_Care_Device_and_Biotech_Stocks\" title=\"Risks to Consider Before Investing in Eye Care, Device and Biotech Stocks\">Risks to Consider Before Investing in Eye Care, Device and Biotech Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#FAQs_on_Eye_Care_Device_and_Biotech_Stocks\" title=\"FAQs on Eye Care, Device and Biotech Stocks\">FAQs on Eye Care, Device and Biotech Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Which_are_the_best_eye_care_device_and_biotech_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best eye care, device and biotech stocks in India with a strong roadmap?\">Which are the best eye care, device and biotech stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Is_Dr_Agarwals_Health_Care_a_good_stock_to_buy_now\" title=\"Is Dr. Agarwal&#8217;s Health Care a good stock to buy now?\">Is Dr. Agarwal&#8217;s Health Care a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#What_is_the_PE_ratio_of_Dr_Agarwals_Health_Care_Poly_Medicure_and_Concord_Biotech\" title=\"What is the P\/E ratio of Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech?\">What is the P\/E ratio of Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Which_of_these_eye_care_device_and_biotech_stocks_has_the_highest_return_on_equity\" title=\"Which of these eye care, device and biotech stocks has the highest return on equity?\">Which of these eye care, device and biotech stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#What_are_the_risks_of_investing_in_eye_care_device_and_biotech_stocks\" title=\"What are the risks of investing in eye care, device and biotech stocks?\">What are the risks of investing in eye care, device and biotech stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#How_did_Dr_Agarwals_Health_Care_Poly_Medicure_and_Concord_Biotech_perform_in_Q1_FY27\" title=\"How did Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech perform in Q1 FY27?\">How did Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#Do_eye_care_device_and_biotech_stocks_pay_dividends\" title=\"Do eye care, device and biotech stocks pay dividends?\">Do eye care, device and biotech stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/eye-care-device-and-biotech-stocks-future-growth-watchlist\/#How_can_I_invest_in_eye_care_device_and_biotech_stocks_in_India\" title=\"How can I invest in eye care, device and biotech stocks in India?\">How can I invest in eye care, device and biotech stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Eye_Care_Device_and_Biotech_Stocks\"><\/span><strong>What Are Eye Care, Device and Biotech Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Eye care, device and biotech stocks are shares of companies that run eye hospitals, make medical devices and produce fermentation-based ingredients. Results depend on patient volumes, export orders and margins, so margins and volumes separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Eye_Care_Device_and_Biotech_Stocks_at_a_Glance\"><\/span><strong>Eye Care, Device and Biotech Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three eye care, device and biotech stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/agarwaleye\/dr-agarwals-health-care-ltd-share-price-today\">Dr. Agarwal&#8217;s Health Care<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">477.75<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14,907<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">80.51<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">62.79<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.58%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.53<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/polymed\/poly-medicure-ltd-share-price-today\">Poly Medicure<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,587.10<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16,231<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.87<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">62.79<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.11<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/concordbio\/concord-biotech-ltd-share-price-today\">Concord Biotech<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,361.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13,913<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">37.59<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.94%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among healthcare stocks, Dr. Agarwal&#8217;s Health Care and Concord Biotech trade at a premium to the industry P\/E, while Poly Medicure trades at a discount.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Eye_Care_Device_and_Biotech_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Eye Care, Device and Biotech Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Eye care, device and biotech stocks have a strong roadmap in India because ageing, rising awareness and wider access are lifting demand for eye care, devices and specialty drugs. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Eye care demand:<\/strong> More people seek cataract and vision correction care.<\/li>\n<li><strong>Device exports:<\/strong> Disposables sell in many overseas markets.<\/li>\n<li><strong>Specialty ingredients:<\/strong> Biotech inputs serve regulated pharma markets.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Dr_Agarwals_Health_Care_A_Growing_Eye_Care_Network_Drives_the_Pipeline\"><\/span><strong>Dr. Agarwal&#8217;s Health Care: A Growing Eye Care Network Drives the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dr. Agarwal&#8217;s Health Care&#8217;s roadmap rests on eye care hospitals and clinics across India and overseas, with a growing network of centres supporting patient volumes.<\/p>\n<p>Revenue grew from Rs 713.78 crore in FY22 to Rs 2,124.52 crore in FY26, a 197.6% rise, and FY26 revenue was 20.9% higher than FY25. FY26 net profit rose 52.4% to Rs 168.14 crore. Over four years, net profit rose from Rs 43.16 crore in FY22 to Rs 168.14 crore. In Q1 FY27, revenue grew 23.9% to Rs 620.43 crore, and net profit rose 44.6% to Rs 55.02 crore. Operating margin was 29.95% in FY26.<\/p>\n<p>Debt to equity is 0.53 and return on equity is 6.58%. FY26 operating cash flow was Rs 518.99 crore against capital expenditure of Rs 460.58 crore. At a P\/E of 80.51 against an industry P\/E of 62.79, the stock trades above its industry multiple.<\/p>\n<p>What to watch: Return on equity of 6.58% is modest.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Poly_Medicure_Medical_Devices_Build_the_Next_Leg\"><\/span><strong>Poly Medicure: Medical Devices Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Poly Medicure&#8217;s roadmap rests on medical devices such as infusion sets, needles, catheters and dialysis products sold in India and many export markets, with rising healthcare consumption and export demand supporting growth.<\/p>\n<p>Revenue grew from Rs 960.97 crore in FY22 to Rs 1,995.34 crore in FY26, a 107.6% rise, and FY26 revenue was 13.4% higher than FY25. FY26 net profit was Rs 320.73 crore. In Q1 FY27, revenue grew 25.5% to Rs 558.79 crore. Operating margin was 27.65% in FY26.<\/p>\n<p>Debt to equity is 0.11 and return on equity is 10.37%. FY26 operating cash flow was Rs 246.37 crore against capital expenditure of Rs 308.39 crore. Poly Medicure paid a dividend of Rs 3.5 per share for FY26, a yield of 0.22%. At a P\/E of 51.87 against an industry P\/E of 62.79, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 51.87 against an industry P\/E of 62.79 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Concord_Biotech_Fermentation_Ingredients_Drive_the_Pipeline\"><\/span><strong>Concord Biotech: Fermentation Ingredients Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Concord Biotech&#8217;s roadmap rests on fermentation-based active ingredients, including immunosuppressants and anti-infectives, with regulated market exports supporting revenue.<\/p>\n<p>Revenue grew from Rs 736.35 crore in FY22 to Rs 1,107.25 crore in FY26, a 50.4% rise. FY26 net profit was Rs 259.23 crore. In Q1 FY27, revenue grew 24.2% to Rs 270.32 crore, and net profit rose 31.0% to Rs 57.70 crore. Operating margin was 39.81% in FY26.<\/p>\n<p>Debt to equity is 0.00 and return on equity is 12.94%. FY26 operating cash flow was Rs 266.88 crore against capital expenditure of Rs 95.15 crore. Concord Biotech paid a dividend of Rs 7.55 per share for FY26, a yield of 0.57%. At a P\/E of 51.00 against an industry P\/E of 37.59, the stock trades above its industry multiple.<\/p>\n<p>What to watch: The P\/E of 51.00 sits above the industry P\/E of 37.59, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Eye_Care_Device_and_Biotech_Stocks_in_India_Dr_Agarwals_Health_Care_vs_Poly_Medicure_vs_Concord_Biotech_on_Key_Financials\"><\/span><strong>Best Eye Care, Device and Biotech Stocks in India: Dr. Agarwal&#8217;s Health Care vs Poly Medicure vs Concord Biotech on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best eye care, device and biotech stocks in India, Dr. Agarwal&#8217;s Health Care ranks second on FY26 operating margin; Poly Medicure leads on Q1 FY27 revenue growth; Concord Biotech leads on FY26 operating margin and return on equity. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Dr. Agarwal&#8217;s Health Care<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Poly Medicure<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Concord Biotech<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,124.52<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,995.34<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,107.25<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">168.14<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">320.73<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">259.23<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.95%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27.65%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">39.81%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.58%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.94%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">80.51<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.87<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.53<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.11<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.22%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.57%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">518.99<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">246.37<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">266.88<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Healthcare company earnings follow patient volumes, export orders and margins, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Eye_Care_Device_and_Biotech_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Eye Care, Device and Biotech Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen eye care, device and biotech stocks and shortlist eye care, device and biotech stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check margins and the pace of capacity or clinic additions.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these eye care, device and biotech stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Eye_Care_Device_and_Biotech_Stocks\"><\/span><strong>Risks to Consider Before Investing in Eye Care, Device and Biotech Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Regulation:<\/strong> Quality checks and price rules can affect supply and pricing.<\/li>\n<li><strong>Competition:<\/strong> Larger chains and global makers compete for volumes.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech live.<\/em><\/p>\n<p>Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.<\/p>\n<p>Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.<\/p>\n<p>The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.<\/p>\n<p>Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three healthcare stocks cover eye hospitals, medical disposables and fermentation-based ingredients. Dr. Agarwal&#8217;s Health Care ranks second on FY26 operating margin; Poly Medicure leads on Q1 FY27 revenue growth; Concord Biotech leads on FY26 operating margin and return on equity.<\/p>\n<p>Across eye care, device and biotech stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the eye care, device and biotech stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Eye_Care_Device_and_Biotech_Stocks\"><\/span><strong>FAQs on Eye Care, Device and Biotech Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_eye_care_device_and_biotech_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best eye care, device and biotech stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech stand out for their roadmaps in eye hospitals, medical disposables and fermentation-based ingredients. Return on equity ranges from 6.58% to 12.94%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Dr_Agarwals_Health_Care_a_good_stock_to_buy_now\"><\/span><strong>Is Dr. Agarwal&#8217;s Health Care a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dr. Agarwal&#8217;s Health Care has a debt to equity ratio of 0.53, a return on equity of 6.58% and a P\/E of 80.51 against an industry P\/E of 62.79. Valuation, regulation and competition move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Dr_Agarwals_Health_Care_Poly_Medicure_and_Concord_Biotech\"><\/span><strong>What is the P\/E ratio of Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 80.51 for Dr. Agarwal&#8217;s Health Care (industry 62.79), 51.87 for Poly Medicure (industry 62.79) and 51.00 for Concord Biotech (industry 37.59). Only Dr. Agarwal&#8217;s Health Care and Concord Biotech trade at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_eye_care_device_and_biotech_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these eye care, device and biotech stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Concord Biotech has the highest return on equity at 12.94%, followed by Poly Medicure at 10.37% and Dr. Agarwal&#8217;s Health Care at 6.58%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_eye_care_device_and_biotech_stocks\"><\/span><strong>What are the risks of investing in eye care, device and biotech stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are regulation, competition and quarterly trends. Quality checks and price rules can affect supply and pricing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Dr_Agarwals_Health_Care_Poly_Medicure_and_Concord_Biotech_perform_in_Q1_FY27\"><\/span><strong>How did Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Dr. Agarwal&#8217;s Health Care reported revenue of Rs 620.43 crore, up 23.9% year on year, and net profit rose 44.6% to Rs 55.02 crore. Poly Medicure reported revenue of Rs 558.79 crore, up 25.5% year on year. Concord Biotech reported revenue of Rs 270.32 crore, up 24.2% year on year, and net profit rose 31.0% to Rs 57.70 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_eye_care_device_and_biotech_stocks_pay_dividends\"><\/span><strong>Do eye care, device and biotech stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Poly Medicure and Concord Biotech pay dividends. The dividend yield is 0.22% for Poly Medicure and 0.57% for Concord Biotech, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_eye_care_device_and_biotech_stocks_in_India\"><\/span><strong>How can I invest in eye care, device and biotech stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy eye care, device and biotech stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best eye care, device and biotech stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dr. Agarwal's Health Care, Poly Medicure and Concord Biotech stand out for their roadmaps in eye hospitals, medical disposables and fermentation-based ingredients. Return on equity ranges from 6.58% to 12.94%.\"}},{\"@type\":\"Question\",\"name\":\"Is Dr. Agarwal's Health Care a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Dr. Agarwal's Health Care has a debt to equity ratio of 0.53, a return on equity of 6.58% and a P\/E of 80.51 against an industry P\/E of 62.79. 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The dividend yield is 0.22% for Poly Medicure and 0.57% for Concord Biotech, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in eye care, device and biotech stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy eye care, device and biotech stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dr. Agarwal&#8217;s Health Care, Poly Medicure and Concord Biotech compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":36,"featured_media":301810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[11240,11238,11239,11084,11237,7537],"class_list":["post-301811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-concord-biotech","tag-device-and-biotech-stocks","tag-device-and-biotech-stocks-to-buy","tag-dr-agarwals-health-care","tag-eye-care","tag-poly-medicure"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["301810"],"rank_math_title":["Eye Care, Device and Biotech Stocks: Top 3 Roadmap Picks"],"rank_math_description":["Eye care, device and biotech stocks with a strong roadmap: Dr. Agarwal's Health Care, Poly Medicure and Concord Biotech compared on growth, valuation and risks."],"rank_math_focus_keyword":["eye care, device and biotech stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-eye-care-device-and-biotech-stocks-with-a-strong-future-roadmap-dr-agarwal-s.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=301811"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301811\/revisions"}],"predecessor-version":[{"id":301812,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/301811\/revisions\/301812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/301810"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=301811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=301811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=301811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}