Event Details

Aster DM Quality Care Limited conducted its 18th Annual General Meeting (AGM) through Video Conferencing on Monday, 28 September 2026 at 11:30 A.M. (IST). The meeting was held in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Participants

The meeting was attended by key management personnel including:

  • Dr. Azad Moopen - Executive Chairman
  • Mr. Varun Khanna - Managing Director & Group CEO
  • Ms. Alisha Moopen - Executive Director
  • Mr. T J Wilson - Non-Executive Director
  • Dr. James Mathew - Independent Director
  • Mr. Kewal Handa - Independent Director
  • Mr. Neeraj Jain - Independent Director
  • Mr. V K Mathews - Independent Director
  • Ms. P H Vijaya Deepti - Independent Director
  • Mr. Sunil Kumar M R - Group Chief Financial Officer
  • Mr. Hemish Purushottam - Company Secretary & Compliance Officer

Strategic Update: Merger Completion

The AGM marked the first meeting following the successful completion of the merger between Aster DM Healthcare Limited and Quality Care India Limited, effective July 1, 2026. The combined entity now operates as Aster DM Quality Care Limited, creating one of India's largest integrated healthcare networks.

Operational Scale and Capacity

The combined network currently has:

  • 10,800 beds across 28 cities
  • Pipeline of over 4,170 additional beds under development
  • Target network of more than 15,000 beds in the coming year

The integration brings together four healthcare brands: Aster, CARE Hospitals, KIMSHEALTH, and Evercare.

Financial Performance (Combined Proforma FY2025-26)

  • Revenue: ₹9,273 Crores
  • Operating EBITDA: ₹2,013 Crores
  • Operating EBITDA Margin: 21.7%

Clinical Achievements and Capabilities

  • Performed 2,696 robotic surgeries during the year
  • Conducted 578 organ transplants
  • Advanced clinical capabilities include Gamma Knife, ZAP stereotactic radiosurgery, robotic surgical systems, and advanced radiation therapy
  • Key milestones: KIMSHEALTH performed its first heart transplant; CARE Banjara introduced cardiac laser technology; Aster Medcity performed Kerala's first transcatheter Fontan procedure

Digital Health Initiatives

  • Aster Health App crossed 500,000 downloads
  • Exploring Agentic AI applications in patient engagement, quality, aided diagnostics, and precision medicine

Workforce Statistics

  • Total workforce: 62% women representation
  • 7,400 doctors across the combined network
  • Senior consultant retention rate: 87%
  • Great Place to Work Trust Index reflects focus on workplace culture

CSR and ESG Initiatives

  • Aster Volunteers program impacted 8.4 million lives globally (1.24 million in India)
  • Conducted 11,456 free medical camps benefiting nearly 700,000 people
  • Renewable energy initiatives generated 22.62 million kilowatt hours
  • Avoided 16,000 tonnes of carbon dioxide emissions
  • 71% of treated wastewater reused across operations
  • 100% compliance on Code of Conduct
  • Zero reported incidents of corruption

Financial Performance (Standalone Aster DM Healthcare FY2025-26)

  • Revenue: ₹4,643 Crores (12% YoY growth from ₹4,138 Crores)
  • Operating EBITDA: ₹947 Crores (17% YoY growth from ₹806 Crores)
  • Operating EBITDA Margin: 20.4%
  • Normalized PAT (post-NCI excluding exceptional items): ₹421 Crores (18% YoY growth from ₹357 Crores)
  • ROCE: 22.8% (330 bps improvement)
  • Cash and cash equivalents: ₹1,327 Crores
  • Gross debt: ₹701 Crores

Diagnostic Business Performance

  • Aster Labs (diagnostic business) showed significant turnaround:
  • Operating EBITDA margins: 12.8% in FY2026 (from negative 7.8% in FY2024)
  • ROCE: 27% for the segment

Capital Expenditure

  • FY2026 investment: ₹546 Crores across the network
  • 45% allocated to expansion projects
  • Preference for Brownfield developments (53% of planned 4,170 beds)

AGM Agenda Items

The meeting addressed five resolutions:

1. Adoption of audited financial statements for year ended March 31, 2026

2. Re-appointment of Mr. T. J. Wilson who retires by rotation

3. Ratification of remuneration payable to cost auditors for FY2026-27

4. Increase in limits under Section 185 of Companies Act, 2013 (special resolution)

5. Increase in limits under Section 186 of Companies Act, 2013 (special resolution)

Shareholder Q&A Highlights

Key questions from shareholders addressed:

  • Bed expansion plans and investment requirements
  • Medical error reporting and prevention systems
  • Doctor retention strategies and rates
  • Balance between government scheme patients and sustainability
  • AI integration in patient scheduling, operations, and clinical decision support
  • Accountability for AI-supported recommendations
  • Board succession planning for key executives
  • Bed occupancy rate decline despite volume growth (explained as 4.5% increase in absolute occupied beds from 3,769 to 3,939 beds)
  • Dividend policy and bonus share considerations
  • Specialties and treatments available across the network

Dividend Declaration

  • Interim dividend of ₹3 per equity share (30% of face value) declared on March 26, 2026
  • Total payout: approximately ₹155 Crores
  • No final dividend recommended for FY2026

Voting Process

  • E-voting conducted through NSDL platform
  • Scrutinizer: Mr. Rajiv Balakrishnan, Practicing Company Secretary
  • Voting results to be submitted to stock exchanges within statutory timeline