Aster DM Healthcare reported robust growth for Q4 and full-year FY26. On a combined proforma basis, full-year revenues reached INR 9,273 crores, marking a 14% year-on-year increase, with Operating EBITDA growing 21% to INR 2,013 crores. The company continues to advance its merger with Quality Care India Limited, while focusing on clinical complexity and capacity expansion across its hospital network in India.
Financial Highlights and Operational Growth
For Q4 FY26, Aster DM Healthcare’s combined proforma revenues grew 18% year-on-year to INR 2,361 crores. Profitability outpaced revenue, with Operating EBITDA increasing by 25% to INR 517 crores, resulting in margins of 21.9%. For the full year FY26, the company achieved revenue of INR 9,273 crores, supported by a balanced increase in patient volumes and Average Revenue Per Occupied Bed (ARPOB).
Strategic Expansion and Capacity Building
The company maintains a disciplined approach to growth, adding 373 beds over the past year to reach a total capacity exceeding 10,620 beds across 28 cities. A robust pipeline of 4,445 additional beds is planned to strengthen its pan-India presence. Recent milestones include the launch of 159 beds at the Aster Whitefield facility and 75 beds at Ramesh Ongole, highlighting the company’s commitment to high-acuity care.
Merger Progress with Quality Care
The proposed merger with Quality Care India Limited (QCIL) has reached a critical stage, receiving 96.7% approval from shareholders and creditors. The merger is currently before the National Company Law Tribunal (NCLT) for final approval. Once completed, this consolidation is expected to unlock significant operational synergies and enhance long-term shareholder value by combining complementary clinical footprints and scaling specialized medical services.
Focus on Clinical Specialization
Aster continues to transition toward higher-acuity, high-value care. The company’s CONGO-T mix (Complex, Oncology, Neuro, Gastro, and Transplants) now accounts for 55% of its revenue, with a target to reach 60-65% in the coming years. This shift, combined with significant growth in robotic procedures and international patient footfall, continues to drive operational efficiency and margin expansion across all key clusters.
Source: BSE
