Aster DM Quality
Aster DM Quality Q3 FY26 earnings call: Revenue & Margins
Q3 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
Oncology is expected to grow significantly, moving from 11% revenue contribution currently to high teens (15-19%) in 4-5 years, becoming a major growth engine. Aster DM Healthcare's India revenues grew 10% YoY in 9M FY26; Operating EBITDA increased 17% YoY with margins at 20.7%.
From Aster DM Quality's Q3 FY26 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Oncology is expected to grow significantly, moving from 11% revenue contribution currently to high teens (15-19%) in 4-5 years, becoming a major growth engine.
- Cardiology and Neurology remain key contributors, with cardiology as highest and neurology as third highest in growth expectations.
- Mature hospitals show steady revenue growth of 14%, hospitals 3-7 years old growing at 10%, and new assets under 3 years growing at 19%.
- Kasargod unit ramping quickly, with break-even expected within a quarter and rapid bed occupancy increase.
- Expansion plans include adding hundreds of beds mainly through brownfield projects in FY27-FY29, supporting volume growth.
- Diagnostic business (Aster Labs) growing over 20-30% in non-captive external business, aiming for over 20% EBITDA margin in next 2-3 years.
2 more points from Aster DM Quality's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- FY27 QCIL expansion includes adding 155 to 190 beds in Bhubaneswar, Raipur, and Kottayam, all brownfield expansions (capacity ramp-up).
- FY28 plans to add about 780 beds, entirely brownfield expansions (existing property additions).
- FY29 and beyond, approximately 750 beds planned for addition.
- Sarjapur Road Hospital greenfield project delayed; construction started, expected operational by Feb-end FY27, effectively in FY28.
- New greenfield projects in Trivandrum and Hyderabad (Women & Child Hospital) expected operational in H2 FY27, leveraging existing QCIL assets for network benefits.
- Aster Labs launching a dedicated retail app soon to drive non-captive business growth and margin improvement.
- Strategic focus on cost efficiency through AI and technology initiatives (e.g., centralized call centers, pre-recorded voice calls).
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
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Aster DM Quality — Quarterly revenue & net profit
Aster DM Quality Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 1,186 | 1,050 | +13% | 1,197 | -0.9% |
| Operating profit (EBITDA) | 202 | 186 | +8.6% | 236 | -14.4% |
| Operating margin | 17% | 18% | -1 pp | 20% | -3 pp |
| Profit before tax | 103 | 102 | +1% | 167 | -38.3% |
| Net profit (PAT) | 59 | 64 | -7.8% | 121 | -51.2% |
| EPS (₹) | 1.01 | 1.14 | -11.4% | 2.12 | -52.4% |
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.
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What Aster DM Quality Care Ltd's management said in earlier quarters
- Q1 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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FY '27 capex of INR 100-120 crores planned, supporting network expansion (Page 5). Key concall takeaways from Vijaya Diagnostic Centre's Q3 FY26 earnings call —
- Chandan Healthca (Q3 FY26)
The company plans to open 100 new labs within three years, with an overall capex of INR100 crores for this expansion. Key concall takeaways from Chandan…
- Rainbow Childrens Medicare (Q3 FY26)
Revenue growth for the quarter was 12% YoY; 9% for the first 9 months of the financial year. Key concall takeaways from Rainbow Childrens Medicare Ltd's Q3…
- Krishna Institute of Medical Sciences (Q3 FY26)
Hospitals like Kondapur to see 20-25% year-on-year growth post new facility commissioning (Pg.18). Key concall takeaways from Krishna Institute of Medical…
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 Q3 FY26 results?
Oncology is expected to grow significantly, moving from 11% revenue contribution currently to high teens (15-19%) in 4-5 years, becoming a major growth engine. Aster DM Healthcare's India revenues grew 10% YoY in 9M FY26; Operating EBITDA increased 17% YoY with margins at 20.7%.
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?
FY27 QCIL expansion includes adding 155 to 190 beds in Bhubaneswar, Raipur, and Kottayam, all brownfield expansions (capacity ramp-up).
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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.