Aster DM Quality Care Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 7 Jun 2026 | Healthcare Services | Market Cap: ₹73.4K Cr
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.
Price
₹762
Market Cap
₹73.4K Cr
P/E Ratio
203.4
How does Aster DM Quality Care Ltd rank in Healthcare Services?
Compare Aster DM Quality Care Ltd against every Healthcare Services company this quarter on revenue, margins and earnings-call signals.
Aster DM Quality Care Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹154 Cr.
Full financials →📊 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).
- →Growth driven by increasing oncology, cardiology, robotic procedures, and international patient inflows.
- →Payor mix favorably shifting towards cash + insurance segments, supporting higher revenue per patient.
📈 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.
- →Expansion plans include adding ~2,500 beds over the coming years, boosting capacity to 8,150 beds, balancing greenfield and brownfield investments for return-driven capital deployment.
- →Focus and emerging units showing strong EBITDA growth potential support improving overall profitability and EPS growth in medium term.
🏗️ 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).
- →Addition of 900 beds planned over next two years.
- →Expansion and capability enhancement in clusters like Raipur, Bhubaneswar, Banjara, Hyderabad, Nagercoil, and Indore.
💰 Fundraising & Capital Structure
📋 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.
- →INR 350 crores has already been invested up to March 2026, with the remaining amount to be deployed over the next 3–4 years.
- →Recent expansions include operationalizing Whitefield Block D with 159 beds and Aster Ramesh Sanghamitra Ongole with 75 beds in April 2026.
Key Metrics
Frequently Asked Questions
What were Aster DM Quality Care Ltd Q4 FY26 results?
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.
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.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.