Aster DM Healthcare Ltd logo

Aster DM Healthcare Ltd

ASTERDM NSE

Key Fundamentals

MidcapHospitalsHealthcare Services
Market Cap
₹39,805 Cr
Volatility
Moderate
P/E Ratio
102.68
EBITDA
₹831 Cr
Return on Equity
4.07%
Debt to Equity
0.47
Book Value
₹81.59
EPS
₹2.47
52W High
₹836.5
52W Low
₹519.1

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 1,560%

Weaknesses

3
  • Stock is trading at 8.72 times its book value
  • Company has a low return on equity of 7.23% over last 3 years.
  • Promoters have pledged 40.7% of their holding.

Growth Rate

Revenue Growth
8.32% ↗
Net Income Growth
13.95% ↘
Cash Flow Change
169.34% ↗
ROE
126.54% ↘
ROCE
87.55% ↗
EBITDA Margin (Avg.)
-18.13% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
AI opinion · based on fundamentals
Risk high
HOLD Worth holding, not adding Conviction 5/10

Aster DM Healthcare has unanimous analyst buy ratings and strong TTM profit growth of 37%, but the stock trades at a demanding 93x PE and 9.39x book value with promoter pledge at 40.7%. The risk-reward at current valuations is stretched despite a solid India-focused healthcare growth story.

Bull Case 8
  • Unanimous analyst consensus with 10 out of 10 analysts rating BUY (100% buy rating)
  • Strong TTM profit growth of 37% indicates accelerating earnings momentum post GCC business divestiture
  • Stock CAGR of 40% over 3 years reflects sustained market confidence and re-rating
  • TTM sales growth of 12% shows healthy top-line expansion in the India healthcare business
  • Exceptional dividend payout of 1,560% (special dividend post GCC sale) returning capital to shareholders with 0.39% yield
  • ROE improving from 7% (3-year average) to 11% last year, showing operational efficiency gains
  • 5-year compounded profit growth of 23% demonstrates long-term earnings compounding ability
  • Market cap of Rs 40,149 Cr positions it as a mid-large cap healthcare platform with institutional interest
Bear Case 8
  • PE ratio of 93x is extremely expensive even for healthcare services, leaving no margin of safety
  • Promoters have pledged 40.7% of their holding, creating significant downside risk in a market correction
  • Price-to-book of 9.39x is steep, trading at nearly 9x book value with 3-year ROE of only 7.23%
  • 5-year compounded sales CAGR is negative at -12% due to GCC business divestiture, making peer comparison difficult
  • 3-year compounded profit growth is -1%, indicating earnings have been volatile and inconsistent
  • 10-year sales CAGR of -1% shows the continuing India entity has not demonstrated long-term revenue growth track record
  • 3-year average ROE of 7.23% is below cost of equity, indicating subpar capital efficiency historically
  • At 93x PE, the stock needs sustained 30%+ earnings growth for multiple years to justify current valuation

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 2
  • NCLT approves Quality Care merger Jun 19

    NCLT Hyderabad approved the amalgamation of Quality Care India with Aster DM Healthcare on June 19, 2026. The scheme becomes effective after filing the order with the Registrar of Companies.

  • Strong FY26 financials reported Jun 3

    Aster DM Healthcare reported FY26 revenue of ₹4,643 crore and operating EBITDA of ₹947 crore, alongside progress on the Quality Care merger approved by shareholders.

Neutral 4
  • Sarjapur unit share acquisition Jun 18

    Aster DM acquired 4,50,89,995 equity shares in Aster DM Super-Specialty Hospital (Sarjapur) Private Limited for ₹45.09 crore on June 18, 2026.

  • ADMPL allots CCPS to investors Jun 16

    Subsidiary ADMPL allotted 21.40 lakh Series A and 18.40 lakh Series B CCPS on June 16, 2026. Parent shareholding remains above 75%.

  • Govt nod sought for director Jun 5

    Aster DM seeks central government approval for Dr. Azad Moopen's appointment as Executive Director for a specific period in April-May 2026.

  • Investor meets in multiple cities Jun 3

    Aster DM scheduled investor meetings in Mumbai (Jun 3-4), Hong Kong and Singapore (Jun 8-9) at BoFA and Citi conferences. No UPSI to be shared.

TL;DR: Aster DM Healthcare is executing well on its consolidation strategy with the NCLT-approved Quality Care merger and solid FY26 financials (₹4,643 crore revenue, ₹947 crore EBITDA). No material headwinds are visible in recent news flow. Active investor engagement and subsidiary-level capital allocation signal continued expansion. The trend is clearly positive with merger integration as the key near-term catalyst.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
807
841
929
955
974
1,002
1,086
1,050
1,000
1,078
1,197
1,186
1,182
Expenses
687
722
787
805
817
841
869
864
818
876
961
983
958
Operating Profit
120
119
142
149
156
161
217
186
182
202
236
202
224
OPM %
15%
14%
15%
16%
16%
16%
20%
18%
18%
19%
20%
17%
19%
Other Income
149
-17
-64
153
-40
5,120
35
9
5
29
28
0
37
Interest
25
25
30
25
30
29
31
31
32
31
31
31
30
Depreciation
54
51
54
57
58
60
62
62
64
63
66
68
67
PBT
190
26
-7
220
28
5,191
159
102
91
136
167
103
163
Tax %
4%
24%
120%
5%
108%
1%
33%
37%
6%
31%
27%
43%
6%
Net Profit
183
20
-15
209
-2
5,152
106
64
86
94
121
59
154
EPS in Rs
3.42
0.1
-0.62
3.59
-0.48
103
1.94
1.14
1.58
1.65
2.12
1.01
2.71
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
3,876
5,250
5,931
6,721
7,963
8,652
8,608
10,253
2,994
3,699
4,138
4,643
Expenses
3,370
4,805
5,582
6,089
6,886
7,187
7,506
8,720
2,547
3,124
3,384
3,779
Operating Profit
506
445
349
632
1,077
1,465
1,103
1,533
447
575
754
864
OPM %
13%
8%
6%
9%
14%
17%
13%
15%
15%
16%
18%
19%
Other Income
23
25
453
177
-155
-158
53
51
353
32
5,169
93
Interest
79
189
371
204
205
391
334
307
96
119
133
123
Depreciation
144
243
322
298
306
586
618
641
192
220
249
264
PBT
306
38
108
308
410
330
205
637
511
268
5,542
570
Tax %
11%
78%
10%
8%
10%
5%
13%
6%
7%
21%
2%
25%
Net Profit
272
8
98
282
367
315
178
601
475
212
5,408
427
EPS in Rs
7
0.2
2.52
5.32
6.59
5.54
2.96
10.53
8.51
2.59
108
7.49
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
4637%
5%
40%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
389
403
403
505
505
497
497
500
500
500
500
518
Reserves
1,096
17
1,472
2,327
2,709
2,775
2,875
3,080
3,574
3,686
2,554
4,058
Borrowings
1,091
3,321
2,758
2,352
2,788
5,605
4,804
5,282
6,075
1,758
2,392
2,220
Other Liabilities
1,834
2,003
2,171
2,296
2,926
3,528
3,444
3,661
4,687
12,039
1,154
1,316
Total Liabilities
4,409
5,743
6,804
7,479
8,928
12,405
11,620
12,521
14,836
17,983
6,600
8,112
Fixed Assets
2,237
2,507
3,520
3,738
4,289
7,124
6,749
7,009
9,052
3,175
3,920
4,249
CWIP
197
358
290
402
550
736
934
998
279
170
293
413
Investments
3
39
32
38
22
34
63
45
80
17
245
1,167
Other Assets
1,972
2,839
2,962
3,302
4,067
4,511
3,874
4,470
5,425
14,620
2,142
2,284
Total Assets
4,409
5,743
6,804
7,479
8,928
12,405
11,620
12,521
14,836
17,983
6,600
8,112
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
236
203
361
537
601
1,223
1,569
1,314
1,834
158
425
656
Investing
-439
-775
-1,136
-522
-702
-658
-333
-563
-951
-878
6,015
-288
Financing
203
578
654
46
134
-675
-1,116
-686
-817
1,053
-6,358
-304
Net Cash Flow
-1
5
-122
61
33
-110
120
65
66
332
82
63
Free Cash Flow
-176
-536
-565
23
64
715
1,183
770
995
-601
70
179
CFO/OP
51
53
116
93
61
88
143
89
424
40
72
94
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
83
93
79
84
93
100
86
72
285
23
23
24
Inventory Days
93
92
102
111
110
138
122
129
612
44
36
32
Days Payable
178
187
151
150
153
303
290
267
1,400
183
166
168
Cash Conversion Cycle
-2
-1
30
45
50
-65
-83
-66
-503
-116
-107
-112
Working Capital Days
69
68
6
59
28
8
5
5
-21
272
-32
-28
ROCE %
14%
6%
1%
7%
13%
12%
6%
10%
3%
4%
11%
11%

Shareholding Pattern

As of Mar 2026
Promoters 40.39%
DIIs 27.58%
FIIs 17.18%
Others 10.91%
Public 3.93%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Apr 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
37.88%
37.88%
37.88%
37.88%
37.88%
37.88%
37.88%
37.88%
41.88%
41.88%
41.88%
41.88%
41.88%
41.88%
41.88%
41.88%
41.89%
40.38%
40.39%
40.39%
40.39%
40.39%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
33.09%
29.09%
29.09%
40.21%
29.09%
33.48%
27.08%
23.85%
22.62%
21.66%
11.86%
19.64%
18.72%
18.46%
17.18%
DIIs
7.81%
8.73%
7.78%
7.87%
8.12%
9.62%
8.94%
8.93%
8.94%
8.56%
7.64%
7.15%
13.70%
16.35%
20.91%
22.91%
24.59%
24.09%
25.28%
26.32%
26.12%
27.58%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.70%
4.44%
4.21%
4.33%
3.92%
3.70%
3.43%
3.34%
3.18%
3.39%
3.15%
2.96%
3.09%
6.98%
5.94%
5.04%
4.38%
4.12%
3.94%
3.86%
4.07%
3.93%
Others
50.61%
48.94%
50.12%
49.92%
50.08%
48.80%
49.75%
16.76%
16.92%
17.08%
7.11%
18.93%
7.85%
7.72%
7.42%
7.55%
7.49%
19.56%
10.76%
10.70%
10.95%
10.91%
No. of Shareholders
0
78,719
93,506
87,804
80,746
80,427
78,374
80,913
82,129
71,379
67,673
67,331
80,931
2,06,660
1,74,171
1,59,038
1,54,014
1,51,664
1,48,139
1,47,304
1,46,998
1,36,892

Documents

Frequently Asked Questions about Aster DM Healthcare Ltd

What does Aster DM Healthcare Ltd do?
Aster DM Healthcare Limited is one of the largest integrated private healthcare service providers operating in GCC (Gulf Cooperation Council) countries and an emerging player in India. With an inherent emphasis on clinical excellence, it is one of the few entities in the world with a strong prese...
Where is Aster DM Healthcare Ltd (ASTERDM) listed?
Aster DM Healthcare Ltd is listed on the Indian stock exchanges. It is listed on NSE: ASTERDM and BSE: 540975. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Aster DM Healthcare Ltd belong to?
Aster DM Healthcare Ltd operates in the Healthcare sector within the Healthcare Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Aster DM Healthcare Ltd?
Aster DM Healthcare Ltd has a market capitalisation of approximately ₹39804.65 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Aster DM Healthcare Ltd?
The Price-to-Earnings (PE) ratio of Aster DM Healthcare Ltd is 102.68. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Aster DM Healthcare Ltd?
Over the past 52 weeks, Aster DM Healthcare Ltd has traded between a low of ₹519.1 and a high of ₹836.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Aster DM Healthcare Ltd pay dividends?
Yes, Aster DM Healthcare Ltd has a dividend yield of 0.39%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Aster DM Healthcare Ltd?
Aster DM Healthcare Ltd has a Return on Equity (ROE) of 4.07%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Aster DM Healthcare Ltd on Tapetide?
On Tapetide, you can view Aster DM Healthcare Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Aster DM Healthcare Limited is one of the largest integrated private healthcare service providers operating in GCC (Gulf Cooperation Council) countries and an emerging player in India. With an inherent emphasis on clinical excellence, it is one of the few entities in the world with a strong presence across primary, secondary, tertiary and quaternary healthcare. [1]

Website asterdmhealthcare.in
CEO Dr. Mandayapurath Azad Moopen DTCD, M.D., MBBS
Employees 15,334
Listed 2018-02-26
Face Value ₹ 10
Issued Size 51,81,21,029

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