ASTERDM

🏥 Expansion, Strategy & Capacity

📊 Financials & Operational Highlights In FY25, revenue grew ~12% YoY; operating EBITDA rose ~30%. Margins improved from ~16.8% to ~19.5%. Normalised profit (after excluding non-controlling interests) increased by ~49% year-on-year. For Q4 FY25, revenue was only marginally up (~2%) vs Q4 last year; EBITDA growth was stronger. In Q3/9M FY25, revenues were up ~15%, EBITDA margins improved significantly. 🏥 Expansion, Strategy & Capacity The India & GCC businesses have been separated; the Moopen family retains major stakes in both. Aster plans big growth in hospital bed capacity: adding ~1,700 beds by FY27 (via greenfield + brownfield projects) in India. There is a target of doubling revenue by FY30 (to ~₹13,500 crore), with growth driven by key specialties like oncology, neurology, transplant etc. CapEx of ~₹1,900 crore has been announced to support expansion: new hospitals, more beds in existing ones. 🔄 Mergers & Structural Moves Aster is merging with Quality Care India Ltd (QCIL). Regulatory no-objection approvals (BSE, NSE) have recently been granted, moving the merger further ahead. After the merger, with QCIL, Aster will become one of the top hospital chains in India by bed count (10,000+ beds).