Aster DM Quality
Aster DM Quality Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management said on revenue, margins and capex.
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Guidance rank: #3 of 32 in Healthcare Services
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The short version
Aster DM Healthcare expects 7-8% growth in both volumes and ARPOB (Average Revenue Per Occupied Bed) for FY26. Revenue growth is expected to return to double-digit figures within a couple of quarters, following a subdued performance in recent quarters due to leadership changes and specific decisions (Page 21).
From Aster DM Quality's Q1 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Aster DM Healthcare expects 7-8% growth in both volumes and ARPOB (Average Revenue Per Occupied Bed) for FY26.
- Recent quarters saw subdued volume growth due to leadership changes and seasonal effects, but an 8% volume growth was achieved in Q1 FY26, improving from 2% in Q4 FY25.
- The company anticipates returning to double-digit growth in volumes and revenue within a couple of quarters.
- Over a longer 3-4 year horizon, a 7-8% sustainable ARPOB growth is targeted, supported by specialty mix changes and oncology growth.
- New hospital expansions and bed additions (2,600 beds by Aster and 1,200 beds by QCIL in pipeline) are expected to drive future revenue growth.
2 more points from Aster DM Quality's call on revenue
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Profitability & Margins
See what Aster DM Quality said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Aster is adding approximately 2,600 beds over the next 3-4 years, requiring about INR 2,500 crores in project CAPEX, with INR 400-500 crores already spent as of June 30; the remaining INR 2,000 crores to be spent over the next years.
- For the current FY26, cumulative CAPEX including projects is estimated between INR 800 to 900 crores.
- New projects like the Yeswanthpur hospital in Bangalore are greenfield developments funded through a mix of internal accruals and external funds, with CAPEX spread over roughly 20 months.
- Brownfield expansions are EBITDA accretive with minimal margin dilution and faster payback compared to greenfield expansions, which have a payback of about 9-10 years.
2 more points from Aster DM Quality's call on capex
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Top-ranked in Healthcare Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- For Aster DM Healthcare, the project capex for adding approximately 2,600 beds is about INR 2,500 crores.
- Out of this, INR 400 to 500 crores have already been incurred as of 30th June.
- The remaining INR 2,000 crores is expected to be spent over the next 3-4 years.
- For QCIL, cumulative CAPEX outlay including upcoming projects is expected to be about INR 800 to 900 crores this year.
- Yearly operational CAPEX is roughly 5% of the topline, consistent with prior years.
2 more points from Aster DM Quality's call on order book
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Aster DM Quality — Quarterly revenue & net profit
Aster DM Quality Q1 FY26 results — key figures
| ₹ Cr | Q1 FY26 | Q1 FY25 | YoY | Q4 FY25 | QoQ |
|---|---|---|---|---|---|
| Revenue | 1,078 | 1,002 | +7.6% | 1,000 | +7.8% |
| Operating profit (EBITDA) | 202 | 161 | +25.5% | 182 | +11% |
| Operating margin | 19% | 16% | +3 pp | 18% | +1 pp |
| Profit before tax | 136 | 5,191 | -97.4% | 91 | +49.5% |
| Net profit (PAT) | 94 | 5,152 | -98.2% | 86 | +9.3% |
| EPS (₹) | 1.65 | 103.00 | -98.4% | 1.58 | +4.4% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹1.2K Cr, net profit ₹154 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Aster DM Quality Care Ltd's management said in earlier quarters
- Q3 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
Others in Healthcare Services this season
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- Syngene International (Q1 FY26)
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- Yatharth Hospital & Trauma Care Services (Q1 FY26)
International patient business is growing but will remain around 10% of revenue, positively impacting ARPOB without hurting margins. Key concall takeaways from…
- Rainbow Childrens Medicare (Q1 FY26)
Around 50% of the total planned bed additions will be on an asset-light model. Key concall takeaways from Rainbow Childrens Medicare Ltd's Q1 FY26 earnings…
Potential multibaggers · Q2 FY27
Potential multibaggers in Healthcare Services
on management's own guidance
- Strong growth2
- Strong growth1
- 3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Aster DM Quality Q1 FY26 results?
Aster DM Healthcare expects 7-8% growth in both volumes and ARPOB (Average Revenue Per Occupied Bed) for FY26. Revenue growth is expected to return to double-digit figures within a couple of quarters, following a subdued performance in recent quarters due to leadership changes and specific decisions (Page 21).
What is Aster DM Quality share price analysis?
Aster DM Quality currently shows a neutral. The stock trades at a P/E of 183.9 with a market cap of ₹66,382 Cr. Investors should review the full earnings analysis for detailed insights.
Is Aster DM Quality planning capital expenditure?
Aster is adding approximately 2,600 beds over the next 3-4 years, requiring about INR 2,500 crores in project CAPEX, with INR 400-500 crores already spent as of June 30; the remaining INR 2,000 crores to be spent over the next years.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.