Aster DM Healthcare Q4 FY26 Revenue Up 18% YoY to ₹1,182 Cr; Merger Progresses
Aster DM Healthcare reported Q4 FY26 revenue of ₹1,182 Cr, up 18% YoY. Operating EBITDA (ex-Kasaragod) grew 31% YoY to ₹253 Cr. On a proforma basis (Aster + QCIL), revenue rose 18% to ₹2,361 Cr and EBITDA increased 25% to ₹517 Cr. The merger with QCIL is progressing and expected to complete by Q1 FY27, with 96.68% shareholder approval.
The strong financial performance and the advancement of the merger with QCIL, which is expected to create a leading healthcare provider in India, are significant developments for the company.
The company reported strong year-on-year growth in revenue and operating EBITDA, alongside significant progress in its merger with QCIL, which received overwhelming shareholder approval.
Aster DM Healthcare announced its financial results for the quarter and year ended March 31, 2026, reporting robust performance.
For Q4 FY26, Aster DM Healthcare's revenue grew by 18% year-on-year (YoY) to ₹1,182 crore. Operating EBITDA (excluding the Kasaragod facility) increased by 31% YoY to ₹253 crore, with operating EBITDA margins improving to 21.7% from 19.3% in Q4 FY25. Normalised Profit After Tax (PAT) (excluding Kasaragod) grew by 45% YoY to ₹153 crore.
On a combined proforma basis, including Quality Care India Ltd (QCIL) and in partnership with Blackstone, revenues for Q4 FY26 grew by 18% to ₹2,361 crore, and operating EBITDA increased by 25% to ₹517 crore, with margins at 21.9%. The merger proposal received overwhelming shareholder approval, with 96.68% of total votes cast in favor. The combined entity is expected to have over 10,623 beds across 28 cities, with a pipeline to exceed 15,500 beds, positioning it among the top three healthcare providers in India.
The company highlighted strong YoY growth across its Core Hospital & Clinics and Labs businesses. Overall patient volume grew by 15% YoY, with IP volume increasing by 7% and OP volume by 15%. Specialty revenues in Cardiac and Oncology also saw significant growth. Aster Labs revenue grew by 18% YoY, with operating EBITDA growing by 181% YoY and margins improving to 14.7% from 6.2% in Q4 FY25.
The merger with QCIL is progressing, with shareholder and creditors' approval received, along with no-objection letters from stock exchanges and CCI approval. The transaction is expected to be completed by Q1 FY27, pending regulatory and compliance requirements, including the NCLT order.
Dr. Azad Moopen, Founder and Chairman, Aster DM Healthcare, expressed satisfaction with the performance and the merger progress, emphasizing the vision of building a scaled and integrated healthcare platform.
What to do with a filing like this
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.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Aster DM Healthcare Limited. Read the original for the full detail.