Aster DM Quality Care Ltd

Q4 FY26Healthcare Services

Aster DM Quality Care Q4 FY26 earnings call: Revenue & Margins

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹762

Market cap₹73.4K Cr

P/E203.4

Updated23 Aug 2026

Read5 min read

The short version

QCIL expects continued strong growth momentum in both revenue and margins for the next two years, supported by about 900 additional beds being added in this period. Q4 FY26 showed strong growth with revenue up 18% YoY and EBITDA up 23% YoY; full-year EBITDA grew 24.1% YoY, crossing INR 1,000 crores for the first time.

From Aster DM Quality Care Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

QCIL expects continued strong growth momentum in both revenue and margins for the next two years, supported by about 900 additional beds being added in this period.
Mature hospitals show steady growth (~13.5-14% revenue growth YoY) with EBITDA expansion driven by complexity enhancement and oncology volume growth.
Emerging and focused units report robust ramp-ups: emerging units grew 62.4% YoY in revenue; focused units grew 21% YoY with improved EBITDA margins.
Patient volumes are rising with IP volumes up 7-10% yearly and OP footfalls growing similarly, driving revenue increases.
Expansion plans include adding beds in Raipur, Bhubaneswar, Banjara, Nagercoil (+100 beds), Nampally (+28 beds), Malakpet, Chattogram, Vizag, and Indore (greenfield).
Continued focus on clinical talent attraction and specialty capability upgrades to enhance case mix and ARPOB (average revenue per occupied bed).

2 more points from Aster DM Quality Care Ltd's call on revenue

Pro opens every point from 15K+ earnings calls

Profitability & Margins

Q4 FY26 showed strong growth with revenue up 18% YoY and EBITDA up 23% YoY; full-year EBITDA grew 24.1% YoY, crossing INR 1,000 crores for the first time.
EBITDA margin expanded by 103 bps in Q4 and 136 bps for the year, demonstrating improving operating leverage and cost efficiencies.
Mature units grew revenue by 13.5% and EBITDA by 20.7%, with EBITDA margin at 33.2%, while emerging units grew revenue 62.4% and improved EBITDA margin to 17.9%, signaling strong growth runway.
Management expects continued revenue growth (~16-17% top-line seen in FY26) and margin expansion (~1-1.5% margin expansion observed) over the next two years, driven by capacity additions, synergy realization, and clinical talent strengthening.

2 more points from Aster DM Quality Care Ltd's call on margins

Pro opens every point from 15K+ earnings calls

See what Aster DM Quality Care Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

For FY26, capital expenditure was INR 549 crores, with 45% towards expansion projects.
Operationalized:
Whitefield Block D with 159 beds (April 2026).
Aster Ramesh Sanghamitra Ongole brownfield expansion with 75 beds (April 2026).
Plans to add ~2,500 beds over the next 4 years at a cost of INR 2,700 crores; INR 350 crores invested till March 2026.
QCIL expansion budget is around INR 2,000 crores for 1,700 beds (1,500 brownfield, 200 greenfield).
Per bed capex:
Brownfield: INR 0.8-1.1 crores.
Greenfield: INR 1.5-1.6 crores.
Focus on sprucing up existing assets, adding clinical capabilities, and enhancing oncology services (e.g., Banjara).

2 more points from Aster DM Quality Care Ltd's call on capex

Pro opens every point from 15K+ earnings calls

Top-ranked in Healthcare Services

Ranked on what management guided this quarter

Guidance-ranked

1Health X Platform₹903 Cr

Rev 1Mar 1

2Chandan Healthca₹583 Cr

Rev 1Mar 3

3₹1.7K Cr

Rev 2Mar 2

4₹580 Cr

Rev 2Mar 2

5₹1.1L Cr

Rev 2Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

As of FY26, Aster DM Healthcare reported a moderate gross debt of INR 701 crores and a robust liquidity position with cash and cash equivalents of INR 1,327 crores.
The company has planned capital expenditure of INR 2,700 crores over the next 3-4 years to support growth, with INR 350 crores already invested by March 2026.
There is no explicit mention in the transcript of any current or future plans for fundraising through new debt or equity issuance.

- The management emphasized maintaining disciplined capital allocation and sustainable profitability, implying cautious and planned capital deployment. - If any fundraising plans arise, the company indicated they would be communicated separately, as seen by their offer to share certain financial details offline. Therefore, based on available information, there is no announced new fundraising through debt or equity at this time.

2 more points from Aster DM Quality Care Ltd's call on fundraising

Pro opens every point from 15K+ earnings calls

See what Aster DM Quality Care Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

QCIL has an expansion budget of around INR 2,000 crores for approximately 1,700 beds.
Out of these, around 1,500 beds are planned as brownfield projects.
The blended per bed capex is approximately INR 1-1.1 crores.
Greenfield per bed capex is higher, around INR 1.5-1.6 crores, while brownfield is in the range of INR 0.8-1.1 crores.
For Aster DM Healthcare, over the next four years, there is a plan to add about 2,500 beds at a cost of INR 2,700 crores.

2 more points from Aster DM Quality Care Ltd's call on order book

Pro opens every point from 15K+ earnings calls

Aster DM Quality Care Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

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 →

What Aster DM Quality Care Ltd's management said in earlier quarters

Others in Healthcare Services this season

Suven Life Scie. (Q4 FY26)
The provided pages of the investor presentation do not report any revenue, sales, or volume figures for the quarter. Key investor presentation takeaways from Su
Invicta Diagnos. (Q4 FY26)
Invicta Diagnostic Limited is deploying IPO funds (INR 21 crores raised) primarily towards: . Key concall takeaways from Invicta Diagnos.'s Q4 FY26 earnings…
Star Imaging (Q4 FY26)
Capex planned for FY27 is around INR 20 to 25 crores, mainly towards new centres and equipment. Key concall takeaways from Star Imaging's Q4 FY26 earnings call…
Gaudium IVF and Women Health Ltd (Q4 FY26)
Revenue growth seen in FY26: INR 104.35 crore, a 47.56% increase from FY25. Key concall takeaways from Gaudium IVF's Q4 FY26 earnings call — and how it ranks…

Compare:vs Apollo Hospitals Enterprise Ltd vs Manipal Health Enterprises Ltd vs Max Healthcare Institute Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Arthneeti Pro · Annual

Aster DM Quality Care Ltd and 15K+ more earnings calls,
for less than your morning chai

a day

Every earnings call, ranking and concall Q&A across all four results seasons.

Secure Razorpay payment · instant access

Frequently Asked Questions

What were Aster DM Quality Care Ltd Q4 FY26 results?

What is Aster DM Quality Care Ltd share price analysis?

Aster DM Quality Care Ltd currently shows a neutral. The stock trades at a P/E of 203.4 with a market cap of ₹73,404 Cr. Investors should review the full earnings analysis for detailed insights.

Is Aster DM Quality Care Ltd planning capital expenditure?

For FY26, capital expenditure was INR 549 crores, with 45% towards expansion projects.

Keep Aster DM Quality Care Ltd on your radar — track it to get its next earnings analysis in your feed.

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.

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Top-ranked in Healthcare Services

Fundraising & Capital Structure

Order Book & Pipeline

Aster DM Quality Care Ltd — Quarterly revenue & net profit

Continue your research

What Aster DM Quality Care Ltd's management said in earlier quarters

Others in Healthcare Services this season

Aster DM Quality Care Ltd and 15K+ more earnings calls,for less than your morning chai

Frequently Asked Questions

Aster DM Quality Care Ltd and 15K+ more earnings calls,
for less than your morning chai