Aster DM Healthcare Limited — PPTs, 19-11-2025: Investor Presentation

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**1. Business Performance:**

Aster DM Healthcare (India) posted strong Q2FY26 results: Revenue rose to INR 1,197 Cr, Operating EBITDA increased to INR 263 Cr, and Normalised PAT was up to INR 110 Cr. Performance was driven by Kerala's Medical Value Travel (MVT) revenue surge and rising Oncology contribution.

**2. Growth Drivers or Strategy:**

The company plans significant organic expansion, targeting over 2,300 new beds, funded internally. Digital initiatives via the "Aster Health" app enhance patient engagement and efficiency, complemented by ongoing cost optimization.

**3. Recent Developments:**

A major update is the proposed merger with Quality Care India (QCIL), creating one of India's top 3 hospital chains. This cash-neutral, EPS-accretive merger (expected Q1 FY27) has received key approvals and awaits final NCLT nod. Separately, Aster MIMS Kasargod, a 264-bed hospital, became operational in October 2025.

**4. Key Financial Metrics & Management Commentary / Outlook:**

The combined entity's H1FY26 proforma financials project robust growth in revenue, Operating EBITDA, and Normalised PAT. Management anticipates significant merger synergies (10-15% EBITDA upside) and continued expansion to drive future performance.