India · Delayed Price · Currency is INR Aster DM Healthcare Earnings Call Transcripts
Fiscal Year 2026
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The group delivered strong double-digit revenue and EBITDA growth in Q4 and FY 2026, driven by higher patient volumes, improved case mix, and disciplined expansion. The merger with Quality Care is on track, with significant capacity additions and margin expansion expected post-merger.
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Combined Aster and Quality Care delivered strong double-digit revenue and EBITDA growth, with robust performance in Kerala and significant expansion plans underway. Margin pressures from new capacity and talent investments are expected to be offset by synergies post-merger, targeting 24%-25% EBITDA margins in three years.
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Q2 FY 2026 saw robust revenue and margin growth, led by Kerala's recovery and strong performance across clusters. The merger with QCL is progressing, with significant expansion and synergy plans set to drive future growth and profitability.
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Q1 FY 2026 delivered 8% revenue and 21% EBITDA growth, with strong recovery in Kerala and robust expansion plans. The QCIL merger is progressing, creating a 10,350+ bed network, while ARPOB and margins continue to improve across clusters.
Fiscal Year 2025
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FY 2025 saw 12% revenue growth, 30% EBITDA growth, and margin expansion to 19.5%, driven by operational efficiencies and strategic exits from loss-making segments. The merger with QCIL will create a top-three hospital network, with robust expansion and digital initiatives underway.
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Strong revenue and EBITDA growth continued in FY25, driven by operational efficiencies, capacity expansion, and a strategic merger with QCIL. Margins and ROCE improved, with robust cash flows supporting expansion and dividends. Regulatory approvals for the merger are pending.
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Q2 FY25 saw double-digit revenue and EBITDA growth, margin expansion, and strong cluster performance, with robust CapEx plans and digital leadership. Margin and ARPOB growth are expected to continue, supported by operational efficiencies and brownfield expansion.
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India revenue grew 20% to INR 1,002 crore and operating EBITDA rose 39% in Q1 FY25, with strong margin expansion and robust ARPOB growth. Expansion plans remain on track, supported by a solid cash position and focus on both brownfield and inorganic growth.
Fiscal Year 2024
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The merger will create one of India's top three hospital chains, combining 38 hospitals and over 10,150 beds, with significant synergies expected to boost EBITDA by 10–15% and margins to 25% within four years. Integration is underway, with completion targeted in 12–14 months, pending regulatory approvals.