Aster DM Quality Care Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2020 • Hospitals: 98.4% • Others: 1.6%
AI Sector View
AI GENERATEDHealthcare
This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.
PROS
- Company is almost debt free
- Company has a good return on equity (ROE) track record: 3 Years ROE 76.4%
- Company has a healthy return on capital (ROCE) of 64.9%
- Company has delivered good sales growth of 28.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 58.0%
CONS
- Recent results are weak - TTM profit is down 43.8% versus prior year
- A large part of profit comes from other income (41.4% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.18x)
- Valuation is stretched - P/E of 384.6 is well above its own 5-year median (129.9)
- Stock is trading at 8.9x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| APOLLOHOSP | 8850.00 | 60.90 | 127249.42 | 0.23 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| MAXHEALTH | 1037.20 | 69.29 | 100951.74 | 0.19 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| MANIPALHOS | 716.15 | 105.57 | 94200.74 | 0.00 | 2434.30 | — | 30906.30 | — | 13.93 | 23.83 |
| FORTIS | 887.30 | 63.93 | 66987.44 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| ASTERDM | 762.95 | 208.69 | 66504.25 | 0.39 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.26 | 19.53 |
| MEDANTA | 1447.55 | 69.98 | 38920.53 | 0.03 | 157.25 | -1.09 | 1304.05 | 26.50 | 19.38 | 21.99 |
| NH | 1867.35 | 46.76 | 38161.31 | 0.24 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| KIMS | 768.85 | 158.06 | 32292.20 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| LALPATHLAB | 1909.40 | 59.14 | 32049.05 | 1.07 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| AGARWALEYE | 507.00 | 108.33 | 16073.23 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 16.14 | 27.75 |
| VIJAYA | 1502.30 | 82.53 | 15473.35 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.28 | 42.66 |
| RAINBOW | 1443.40 | 51.37 | 14660.13 | 0.24 | 62.54 | 16.23 | 469.99 | 33.17 | 28.25 | 28.65 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 457 | 509 | 524 | 546 | 566 | 605 | 576 | 574 | 613 | 682 | 666 | 655 | 726 | |
| 374 | 423 | 433 | 446 | 464 | 476 | 465 | 459 | 480 | 532 | 537 | 517 | 644 | |
| Operating Profit | 83 | 86 | 92 | 99 | 101 | 129 | 111 | 115 | 134 | 150 | 129 | 138 | 82 |
| OPM % | 18.16% | 16.90% | 17.45% | 18.24% | 17.92% | 21.33% | 19.31% | 20.02% | 21.78% | 21.97% | 19.33% | 21.12% | 11.25% |
| 11 | 20 | 13 | 4 | 5,992 | 47 | 14 | 9 | 34 | 44 | 24 | -37 | 149 | |
| Interest | 16 | 21 | 21 | 21 | 21 | 19 | 22 | 23 | 22 | 23 | 22 | 21 | 24 |
| Depreciation | 26 | 29 | 31 | 36 | 35 | 37 | 36 | 38 | 38 | 39 | 39 | 38 | 41 |
| Profit before Tax | 53 | 57 | 53 | 47 | 6,037 | 120 | 68 | 63 | 108 | 132 | 91 | 43 | 11 |
| Tax % | 0.00% | -4.18% | 0.00% | 117.38% | 0.48% | 25.03% | 27.09% | 2.44% | 25.40% | 21.01% | 39.45% | 35.60% | 231.31% |
| Net Profit | 53 | 59 | 53 | -8 | 6,008 | 90 | 50 | 61 | 81 | 105 | 55 | 27 | -14 |
| 1.06 | 1.19 | 1.07 | -0.16 | 120.67 | 1.80 | 1.00 | 1.23 | 1.58 | 2.04 | 1.07 | 0.53 | -0.28 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 380 | 530 | 595 | 760 | 747 | 1,116 | 1,534 | 2,036 | 2,320 | 2,616 | 2,728 | |
| 427 | 520 | 554 | 688 | 705 | 963 | 1,241 | 1,671 | 1,858 | 2,060 | 2,230 | |
| Operating Profit | -47 | 10 | 41 | 73 | 42 | 153 | 293 | 365 | 462 | 556 | 499 |
| OPM % | -12.45% | 1.84% | 6.92% | 9.55% | 5.60% | 13.73% | 19.11% | 17.93% | 19.92% | 21.25% | 18.27% |
| 390 | 16 | 83 | 115 | 22 | 82 | 50 | 49 | 6,062 | 65 | 180 | |
| Interest | 228 | 54 | 11 | 33 | 36 | 47 | 56 | 83 | 91 | 93 | 90 |
| Depreciation | 68 | 59 | 64 | 89 | 95 | 99 | 104 | 121 | 145 | 154 | 157 |
| Profit before Tax | 47 | -87 | 49 | 65 | -68 | 90 | 182 | 209 | 6,288 | 374 | 277 |
| Tax % | 0.00% | -0.00% | 0.93% | 6.19% | -1.09% | -0.24% | 4.96% | 25.03% | 1.26% | 28.43% | 37.58% |
| Net Profit | 47 | -87 | 48 | 61 | -69 | 90 | 173 | 157 | 6,209 | 268 | 173 |
| EPS | 1.01 | -1.87 | 0.96 | 1.21 | -1.38 | 1.81 | 3.42 | 3.14 | 124.30 | 5.17 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 63.65% | 98.96% | 58.04% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 30%
- 5 Years:
- 29%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 16%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 27%
- 3 Years:
- 31%
- 1 Year:
- 20%
RETURN ON EQUITY
- 10 Years:
- 24%
- 5 Years:
- 48%
- 3 Years:
- 76%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 403 | 505 | 505 | 497 | 497 | 500 | 500 | 500 | 500 | 518 | |
| 1,911 | 2,403 | 2,461 | 2,423 | 2,355 | 2,448 | 2,250 | 2,412 | 2,457 | 3,459 | |
| 775 | 253 | 284 | 363 | 412 | 509 | 660 | 793 | 1,141 | 1,295 | |
| Trade Payables | 32 | 23 | 26 | 116 | 137 | 130 | 203 | 225 | 248 | 292 |
| 103 | 108 | 100 | 154 | 194 | 182 | 520 | 648 | 727 | 1,007 | |
| Total Liabilities | 3,224 | 3,293 | 3,376 | 3,552 | 3,595 | 3,768 | 4,134 | 4,577 | 5,071 | 6,571 |
| 714 | 772 | 753 | 1,016 | 1,009 | 1,013 | 1,008 | 1,333 | 1,760 | 1,972 | |
| Capital Work in Progress | 63 | 17 | 70 | 20 | 9 | 23 | 67 | 39 | 55 | 160 |
| 2,137 | 2,086 | 2,095 | 2,150 | 2,151 | 2,166 | 2,141 | 2,176 | 1,009 | 2,216 | |
| 21 | 17 | 15 | 24 | 20 | 24 | 34 | 44 | 42 | 33 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 128 | 138 | 179 | |
| Cash & Bank | 19 | 163 | 100 | 33 | 18 | 25 | 31 | 35 | 1,289 | 1,126 |
| 269 | 237 | 343 | 309 | 389 | 517 | 853 | 824 | 778 | 885 | |
| Total Assets | 3,224 | 3,293 | 3,376 | 3,552 | 3,595 | 3,768 | 4,134 | 4,577 | 5,071 | 6,571 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -40 | 9 | -40 | 119 | 51 | 83 | 262 | 413 | 367 | 387 | |
| Cash from Investing | -251 | -18 | -36 | 40 | -38 | -49 | -332 | -342 | 6,023 | -144 |
| Cash from Financing | 222 | 95 | 7 | -126 | -12 | -18 | 92 | -67 | -6,298 | -244 |
| -80 | 74 | -80 | 12 | -9 | 11 | 6 | 3 | 92 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Aster DM Quality Care Limited has informed the Exchange about Copy of Newspaper Publication - Dispatch of Notice of 18th Annual General Meeting and Integrated Annual Report for the Financial Year 2025-26
2026-09-05 - Aster DM Quality Care Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for Financial Year 2025-26'.
2026-09-05 - Aster DM Quality Care Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026
2026-09-04 - Aster DM Quality Care Limited has informed the Exchange regarding a press release dated September 04, 2026, titled "Dr. Moopen family picks up additional stake in the Company".
2026-09-02 - Aster DM Quality Care Limited has informed the Exchange about Copy of Newspaper Publication regarding intimation of 18th Annual General Meeting scheduled for 28 September 2026
2026-08-31 - Aster DM Quality Care Limited has informed the Exchange regarding capacity expansion at the facility of a material subsidiary of the Company
2026-08-29 - Aster DM Quality Care Limited has informed the Exchange about Scheme of Amalgamation of KIMSHEALTH Executive Leisure Private Limited with Spiceretreat Hospitality Services Private Limited, step-down subsidiaries of the Company
2026-08-28 - Aster DM Quality Care Limited has informed the Exchange about Acquisition of Equity Shares of STS Holdings Limited by a Subsidiary of the Company
2026-08-27 - Aster DM Quality Care Limited has informed the Exchange about Copy of Newspaper Advertisement regarding dispatch of the Notice of Postal Ballot of the Company
News
Recent coverage and analyst commentary for ASTERDM
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Aster DM Quality Care Ltd.
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