Aster DM Healthcare logo

Aster DM Healthcare

ASTERDM NSE

Key Fundamentals

MidcapHospitalsHealthcare Services
Market Cap
₹60,943 Cr
Volatility
Low Risk
P/E Ratio
115.27
EBITDA
₹1,027 Cr
Return on Equity
8.84%
Debt to Equity
0.62
Book Value
₹48.26
EPS
₹2.47
52W High
₹891.3
52W Low
₹519.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has been maintaining a healthy dividend payout of 1,560%
  • Promoter holding has increased by 13.3% over last quarter.

Weaknesses

2
  • Stock is trading at 8.74 times its book value
  • Company has a low return on equity of 6.30% over last 3 years.

Growth Rate

Revenue Growth
11.25% lower than 3Y
Net Income Growth
26.85% higher than 3Y
Cash Flow Change
54.32% lower than 3Y
ROE
-4.12% lower than 3Y
ROCE
-6.54% lower than 3Y
EBITDA Margin (Avg.)
1.13% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk high

Aster DM Quality Care Ltd has a market capitalisation of about Rs 66,535 crore and trades at a P/E of 184.6x and a P/B of 15.92x. Sales grew 16% on both a TTM and 3-year compounded basis, but profit grew only 2% TTM and fell 1% a year over 3 years. Return on equity was 11% last year against a 3-year average of 6%, and the 5-year figures are distorted by a restructuring that cut 5-year sales CAGR to -12% while profit CAGR was 23%.

Bull Case 7
  • Revenue momentum is steady: compounded sales growth is 16% on both a TTM and 3-year basis, which suggests the core Indian hospital business is expanding consistently.
  • Shareholders have been rewarded: the stock has compounded at 33% a year over 3 years, 29% a year over 5 years and 21% over the last year.
  • Return on equity is improving: last-year ROE of 11% is well above the 3-year average of 6%, which may point to better capital efficiency after the restructuring.
  • Long-term profit growth is strong: compounded profit growth is 23% over 5 years and 48% over 10 years.
  • Cash has been returned at scale: the dividend payout ratio is reported at 1,560%, reflecting a large distribution to shareholders. The current dividend yield is 0.39%.
  • Promoters have increased their stake by 13.3% over the last quarter, a sign of greater promoter commitment and alignment after the ownership restructuring.
  • The company operates at scale: a market capitalisation of about Rs 66,535 crore places it among India's largest listed healthcare services companies, which may help with bargaining power and access to capital for expansion.
Bear Case 7
  • The valuation is very high: a P/E of 184.6x means the price already assumes strong earnings growth for many years.
  • Profit growth is well behind sales growth: profit grew only 2% TTM and fell 1% a year over 3 years, while sales grew 16% over the same periods. This points to pressure on margins or higher costs.
  • Returns on capital have been weak: the 3-year average ROE of 6% and 5-year average of 9% are low compared with the 184.6x earnings multiple.
  • The stock trades at a steep premium to book value: the P/B is 15.92x in the key metrics, and a separate reading puts it at 9.36x. Either figure leaves little room for disappointment.
  • Historical figures are hard to compare: 5-year sales CAGR of -12% and 10-year CAGR of -1% reflect structural changes to the business, so past trends are a poor guide to the future.
  • The 1,560% dividend payout looks like a one-off distribution rather than a repeatable policy. At a yield of 0.39%, regular dividends offer little income support at the current price.
  • Integration and execution risk: the 13.3% jump in promoter holding in one quarter points to a major ownership or structural change. Integrating the business and delivering synergies may take time to show up in earnings.

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

AI News Digest

1d ago
Headwinds 5
  • Merger costs crush Q1 profit Sep 4

    Consolidated net profit fell 81.2% YoY to ₹16.1 crore in the June quarter, hit by ₹114.38 crore of exceptional merger-related expenses, mostly professional fees.

  • TPG exits via large selldowns Sep 4

    TPG's Centella Mauritius sold a 6.66% stake for ₹4,451 crore in August, cutting its holding from 9.90% to 3.24%, then sold another 0.57% to the Moopen family. Its remaining stake could still come to market.

  • Promoter pledge rises to 10.33% Sep 10

    Encumbered shares rose by 49,96,797 (+0.57%) to 10.33%, as new security for a USD 50 million loan facility.

  • Institutions oppose new ESOP scheme Sep 26

    Institutional investors voted against the new ESOP proposal, though it passed with the other 10 resolutions. This points to governance and dilution concerns.

  • ₹6,900 crore capex execution risk Sep 19

    The company plans to deploy about ₹6,900 crore across FY27-FY29. That raises execution, funding and return-on-capital risks, alongside a target of adding about 3,100 beds.

Positives 4
  • Moopen family buys ₹350 crore stake Sep 4

    Union Holdings (Mauritius) bought 46.09 lakh shares (~0.57%) at ₹760 each from TPG's Centella on Sep 2, taking promoter holding to 24.58%. The company called it a sign of confidence in the merged entity.

  • Strong pro-forma Q1 FY27 operations Sep 4

    Combined revenue grew 20% YoY to ₹2,597 crore and operating EBITDA rose 30% to ₹576 crore. Margin widened 170 bps to 22.2%, and Quality Care's margin improved to 23.2% from 21.1%.

  • Scaled platform after merger Sep 4

    The merger became effective Jul 1 and combines Aster DM, CARE, Evercare and KIMSHEALTH: 39 hospitals in 28 cities with 10,890+ beds. The target is about 13,300 beds by FY27, with a focus on tier-II and tier-III cities.

  • Varun Khanna approved as MD Sep 26

    Shareholders approved 10 resolutions, including Varun Khanna's appointment as Managing Director. This settles the leadership of the merged entity.

Neutral 4
  • 18th AGM held, Wilson reappointed Sep 28

    The 18th AGM was held via VC on Sep 28, 2026. Shareholders adopted the FY26 financials and reappointed T J Wilson, with voting results to be disclosed separately.

  • ₹44.95 crore block trade on BSE Sep 22

    About 600,999 shares changed hands at ₹747.85 each, worth ₹44.95 crore. The trade sits below the ₹760 promoter purchase price, and it is an unconfirmed real-time signal.

  • FY26 BRSR filed Sep 5

    The FY26 Business Responsibility and Sustainability Report shows renewable energy consumption rising to 22,623 MWh, plus social initiatives.

  • AGM notice and annual report sent Sep 4

    The 18th AGM was scheduled for Sep 28, 2026, and the FY26 integrated annual report went to shareholders by email and physical letter.

TL;DR: Aster DM Quality Care's operations look strong after the merger: pro-forma Q1 FY27 revenue grew 20% and EBITDA 30%, margins reached 22.2%, and the Moopen family added to its stake at ₹760. The risks are a reported profit cut by ₹114 crore of merger costs, a steady supply of TPG shares, the promoter pledge rising to 10.33%, and institutions voting against the ESOP. Fundamentals are improving, but stock overhang and governance issues may cap gains for now. The next things to watch are whether the ₹6,900 crore FY27-29 capex is carried out and whether reported profits recover once one-time merger costs drop out.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
841
929
955
974
1,002
1,086
1,050
1,000
1,078
1,197
1,186
1,182
1,311
Expenses
722
787
805
817
841
869
864
818
876
961
983
958
1,055
Operating Profit
119
142
149
156
161
217
186
182
202
236
202
224
256
OPM %
14%
15%
16%
16%
16%
20%
18%
18%
19%
20%
17%
19%
20%
Other Income
-17
-64
153
-40
5,120
35
9
5
29
28
0
37
-77
Interest
25
30
25
30
29
31
31
32
31
31
31
30
31
Depreciation
51
54
57
58
60
62
62
64
63
66
68
67
69
PBT
26
-7
220
28
5,191
159
102
91
136
167
103
163
78
Tax %
24%
120%
5%
108%
1%
33%
37%
6%
31%
27%
43%
6%
62%
Net Profit
20
-15
209
-2
5,152
106
64
86
94
121
59
154
29
EPS in Rs
0.1
-0.62
3.59
-0.48
103
1.94
1.14
1.58
1.65
2.12
1.01
2.71
0.31
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
4,876
Expenses
3,370
4,805
5,582
6,089
6,886
7,187
7,506
8,720
2,547
3,124
3,383
3,769
3,958
Operating Profit
506
445
349
632
1,077
1,465
1,103
1,533
447
575
756
875
918
OPM %
13%
8%
6%
9%
14%
17%
13%
15%
15%
16%
18%
19%
19%
Other Income
23
25
453
177
-155
-158
53
51
353
32
5,168
91
-13
Interest
79
189
371
204
205
391
334
307
96
119
133
132
123
Depreciation
144
243
322
298
306
586
618
641
192
220
249
264
270
PBT
306
38
108
308
410
330
205
637
511
268
5,542
570
511
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
363
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
6.15
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
4637%
5%
40%
—
Figures in ₹ Crores

Balance Sheet

Particulars 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
3,683
Borrowings
1,091
3,321
2,758
2,352
2,788
5,605
4,804
5,282
6,075
1,758
2,392
2,594
Other Liabilities
1,834
2,003
2,171
2,296
2,926
3,528
3,444
3,661
4,687
12,039
1,154
1,280
Total Liabilities
4,409
5,743
6,804
7,479
8,928
12,405
11,620
12,521
14,836
17,983
6,600
8,076
Fixed Assets
2,237
2,507
3,520
3,738
4,289
7,124
6,749
7,009
9,052
3,175
3,920
4,242
CWIP
197
358
290
402
550
736
934
998
279
170
293
420
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
2,248
Total Assets
4,409
5,743
6,804
7,479
8,928
12,405
11,620
12,521
14,836
17,983
6,600
8,076
Figures in ₹ Crores

Cash Flow

Particulars 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
71
93
Figures in ₹ Crores

Ratios

Particulars 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%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Aster DM Healthcare insights

65 extracted metrics + investor summaries across FY14–FY27.

Log in — free

Shareholding Pattern

Public3.71%Promot.40.39%FIIs10.53%Others17.72%DIIs27.65%As ofJun 2026
40.66% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Aster DM Healthcare

What does Aster DM Quality Care 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 Quality Care Ltd (ASTERDM) listed?
Aster DM Quality Care Ltd trades as ASTERDM on the NSE and under code 540975 on the BSE.
Which sector does Aster DM Quality Care Ltd belong to?
Aster DM Quality Care Ltd is classified under the Healthcare Services sector, in the Hospitals industry.
What is the market capitalisation of Aster DM Quality Care Ltd?
Aster DM Quality Care Ltd has a market capitalisation of ₹60,943 Cr, which places it in the Large Cap band.
What is the PE ratio of Aster DM Quality Care Ltd?
Aster DM Quality Care Ltd trades at a PE ratio of 115.27, on earnings per share of ₹2.47, against a book value of ₹48.26 per share.
What is the 52-week high and low of Aster DM Quality Care Ltd?
Over the last 52 weeks Aster DM Quality Care Ltd has traded between ₹519.1 and ₹891.3.
Does Aster DM Quality Care Ltd pay dividends?
Aster DM Quality Care Ltd has a dividend yield of 0.43%.
What is the Return on Equity (ROE) of Aster DM Quality Care Ltd?
Aster DM Quality Care Ltd reported a return on equity of 8.84%. Its debt-to-equity ratio is 0.62.

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

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/ASTERDM.md for Aster DM Quality Care Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Healthcare Services → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List