Aster DM Quality Care Limited announced its Q2 and H1 FY27 results, highlighting a 19% increase in revenue to INR 2,829 crore for the quarter and a 25% rise in operating EBITDA to INR 678 crore. The merger integration is progressing well, contributing to a combined entity performance with significant year-on-year growth. The company also noted strong patient volume growth and expansion in clinical capabilities.
Aster DM Quality Care Reports Strong Q2 and H1 FY27 Performance
Aster DM Quality Care Limited, formerly Aster DM Healthcare Limited, has announced robust financial results for the second quarter and first half of the financial year 2027 (Q2 & H1 FY27), ending September 30, 2026. This marks the company’s first full quarter following the merger of Aster DM Healthcare and Quality Care into a unified healthcare platform.
Key Financial Highlights
For the second quarter of FY27, Aster DM Quality Care reported a 19% year-on-year revenue growth, reaching INR 2,829 crore. Operating EBITDA saw a significant increase of 25% to INR 678 crore, resulting in an operating EBITDA margin of 24%. Normalised Profit After Tax (PAT) grew by 34% to INR 281 crore. The company also highlighted a Return on Capital Employed (ROCE) of 23% for the quarter.
In the first half of FY27, combined revenue increased by 20% to INR 5,429 crore. Operating EBITDA grew by 27% to INR 1,255 crore, with an improved operating EBITDA margin of 23.1%. Normalised PAT for the half-year rose by 27% to INR 457 crore.
Operational Performance and Strategic Growth
The company’s operational bed base expanded by 4% year-on-year. Patient volumes saw a notable increase of 12% in Q2 FY27, with occupied beds growing at 8%, leading to an occupancy improvement of 335 basis points to 68%. Complex care services are expanding across the network, with robotic surgeries growing by 39% and kidney transplants by 31%.
Aster DM Quality Care has invested over INR 600 crore in medical technology over the last 18 months. The company is also focusing on capacity expansion, with a pipeline of 4,230 additional beds, aiming to reach a total capacity of over 15,000 beds.
Synergies and Integration
The merger has already yielded tangible benefits, with INR 16.6 crore in synergies realised in Q2 FY27, setting an annualised run-rate of approximately INR 65 crore. The company anticipates achieving its full projected synergy benefit of around INR 200 crore over the next three years, with a potential to front-load these benefits.
Balance Sheet and Future Outlook
As of September 30, 2026, gross debt stood at INR 3,959 crore, with cash and bank balances at INR 2,240 crore, resulting in a net debt of INR 1,719 crore. Net debt to EBITDA was 0.87 times excluding lease liabilities. The company is committed to disciplined investment in clinical capabilities and capacity to drive sustained growth.
Source: BSE
