Aster DM Healthcare Q3FY26: Combined Revenue Rises 15% to ₹2,366 Cr
Aster DM Healthcare's combined entity reported Q3FY26 revenue of ₹2,366 crore, up 15% YoY, with patient volumes up 9%. EBITDA grew 22% to ₹503 crore. The company filed for NCLT approval for its merger, with shareholder meetings scheduled between Feb 27-Mar 13, 2026. Bed capacity increased to over 10,620.
The results show significant financial growth and operational improvements. Key corporate actions like the merger progressing and capacity expansion are material events for the company's future outlook.
The company reported strong year-over-year growth in revenue and EBITDA, along with an increase in patient volumes and bed capacity. Progress on the merger also indicates positive forward momentum.
Aster DM Healthcare Limited has reported its financial results for the quarter and nine months ended December 31, 2025. The investor presentation highlights the performance of the combined entity on a proforma basis.
For the third quarter of fiscal year 2026 (Q3FY26), the combined entity achieved a revenue of ₹2,366 crore, marking a significant 15% year-over-year (YoY) growth. This growth was primarily driven by a steady increase in patient volumes, which rose by 9% YoY to 1.97 million in Q3FY26. The company also observed an improvement in its "CONGO Mix" (likely referring to a specific service or patient category mix), which increased by approximately 150 basis points to 54.4% in Q3FY26 compared to 52.9% in Q3FY25.
Operational performance was also robust, with the merged entity exhibiting a 22% YoY growth in EBITDA, reaching ₹503 crore in Q3FY26 (a 25% growth excluding the Kasargod facility). The EBITDA margins stood at 21% for the combined entity (22% excluding Kasargod), an improvement from 20% in Q3FY25. This strong EBITDA growth reflects operational leverage and effective cost management.
Regarding the ongoing merger, the company has filed an application with the National Company Law Tribunal (NCLT) on December 11, 2025, following the receipt of a no-objection letter from stock exchanges and SEBI. As per NCLT directions, a shareholders' meeting is scheduled to be convened between February 27 and March 13, 2026, to further the merger process. The company added over 560 beds in the last year, increasing its total bed capacity to over 10,620 beds as of December 31, 2025.
On a standalone basis, Aster DM Healthcare reported a 13% YoY revenue growth to ₹1,186 crore in Q3FY26, with Operating EBITDA growing by 11% to ₹224 crore. The EBITDA margin was 18.9%. For the nine months ended December 31, 2025, revenue grew by 10% to ₹3,461 crore, and Operating EBITDA increased by 16% to ₹586 crore.
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Aster DM Healthcare Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Aster DM Healthcare Limited. Read the original for the full detail.