Anyone here has tried comparing “Clove Dental” with Dr Agarwal. I was trying to do some comparison.
- Clove Dental was valued at 191Mn$ in Dec 2022 (that’s the recent I could find) and Dr Agarwal was valued at around 220-230Mn$ as of now.
- Clove dental revenue was 241 Cr in FY 2023, Dr Agarwal did 268Cr in FY 23 and 319 in FY24.
- This makes the valuation of Dr Agarwal at around MCap to Revenue multiplier to around 6 (1869/319) as of now and clove dental on Dec 22 at 6.75 (1628/241). 1628 is 194mn$. So on this parameter, Dr Agarwal is cheaper.
- India’s dental care market was valued at $653 million in 2022 and is expected to grow to $1,339 million by 2030. The eye care industry, which includes services such as cataract, glaucoma, retina and squint, is valued at around USD 1.4 billion in India. So looks like the market of eyecare is bigger than dental care.
I am not sure of profit of Clove Dental could not find that anywhere.
While both are of similar size right now and the market potential of eye care is bigger than dental care so room to grow for Dr Agarwal is more. This along with t he fact that only 10% of the eye care market is organized looks like there is a huge opportunity here.
Disc: Not invested but planning to buy soon.
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