Transcript of earning conference call held for quarter and year ended March 31, 2026

Aster DM Healthcare reported strong Q4 FY26 results with standalone revenue of INR 1,182 crores (up 18% YoY) and Operating EBITDA of INR 244 crores (up 26% YoY) with margins at 20.7%. Excluding the new Kasargod facility, core margins expanded by 239 basis points to 21.7%. The combined proforma with Quality Care (merger awaiting NCLT approval) shows FY26 revenue of INR 9,273 crores with Operating EBITDA of INR 2,013 crores and margins of 21.7%. Both entities are delivering strong operating leverage driven by higher patient volumes, improved case mix (CONGO-T contribution now at 55-58%), and better payor mix (cash + insurance at 79-83%). Aster plans to add 2,500 beds (INR 2,700 crores capex) while QCIL plans 1,700 beds (INR 2,000 crores) over the next 3-4 years. The merger with Quality Care received 96.7% shareholder approval and awaits final NCLT clearance expected within the current quarter.