Aster Dm Healthcare Ltd. · NSE:ASTERDM
Aster Dm Healthcare — Q4 FY25 Earnings Presentation
61 slides from Aster Dm Healthcare's earnings presentation, May 20, 2025
Slide 1: Cover letter to stock exchanges
May 20, 2025 The Secretary, The Manager, Listing Department, Listing Department, BSE Limited, The National Stock Exchange of India Ltd, 1st Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai 400001. Bandra (East), Mumbai 400051. Scrip Code: 540975 Scrip Symb
Slide 2: Earnings Presentation
Earnings Presentation For the quarter and full year ending March 31, 2025
Slide 3: Disclaimer
Disclaimer • This presentation has been prepared by Aster DM Healthcare Limited (the "Company"), content of which was compiled from sources believed to be reliable for informational purposes only and are based on information regarding the Company and the economic, regulatory, market and other condit
Slide 4: Performance Highlights and Summary
Performance Highlights and Summary
Slide 5: Key Highlights – Q4 FY25
Key Highlights – Q4 FY25 Strong double-digit growth in key operating clusters except moderation in Kerala due to festivities and lower internation patien t footfall ▪ Karnataka & Maharashtra cluster revenue grew by 16% YoY and Op. EBITDA grew by 23% YoY in Q4 FY25 ▪ Andhra & Telangana cluster revenu
Slide 6: Performance Highlights – Q4 2025
Performance Highlights – Q4 2025 3 Revenue Operating EBITDA1 Op EBITDA Margin Normalised PAT2 RoCE (Post-NCI) (Pre-Tax) Financial Q4FY25 : INR 1,000 cr Q4FY25 : INR 193 cr Q4FY25 : 19.3% Q4FY25 : INR 106 cr Q4FY25 : 19.5% 2% 16% 220 bps 21% 310 bps Q4FY24 : INR 978 cr Q4FY24 : INR 167 cr Q4FY24 : 17
Slide 7: Performance Highlights - FY 2025
Performance Highlights - FY 2025 3 Revenue Operating EBITDA1 Op EBITDA Margin Normalised PAT2 RoCE (Post-NCI) (Pre-Tax) Financial FY25 : INR 4,138 cr FY25 : INR 806 cr FY25 : 19.5% FY25 : INR 357 cr FY25 : 19.5% 12% 30% 270 bps 49% 310 bps FY24 : INR 3,699 cr FY24 : INR 620 cr FY24 : 16.8% FY24 : IN
Slide 8: Performance Summary – FY 2025
Performance Summary – FY 2025 ▪ Overall Operating EBITDA margin of 19.5% in FY25 (16.8% in FY24) ▪ ALOS has improved to 3.2 days in FY25 from 3.4 days in FY24 ▪ Payor mix improved with Insurance business at 30% (i.e. +300 bps YoY) FY25. Financial and ▪ Core hospital business delivered Operating EBIT
Slide 9: Performance Summary – FY 2025
Performance Summary – FY 2025 ▪ ~2,500 Ton waste reduction, ~3,100 KL reduction in water consumption in FY25 ▪ ~2150 tCO2e reduction in carbon emission is achieved in FY25 ESG ▪ INR 3.3 Mn worth of reduction in annual paper usage across all Aster units in FY25 Highlights ▪ 5,358 Free Medical camps b
Slide 10: Company Overview
Company Overview
Slide 11: Aster at a Glance
Aster at a Glance Our Presence/Strength1 15 cities and 192 5,159 5 states Hospitals capacity beds 10 262 203 Clinics Labs and PECs Pharmacies3 Operational metrics (FY25) Karnataka & Maharashtra 65% 3.2 days INR 45,000 Karnataka Hospital: 4, Beds: 1,225 Occupancy ALOS ARPOB Maharashtra Andhra & Telan
Slide 12: Our Vision and Core Values
Our Vision and Core Values Excellence Respect “Surpassing current benchmarks constantly by continually “Treating people with utmost dignity, valuing challenging its ability and skills their culture contributions and fostering a Our Promise to take the organisation to culture that allows each individ
Slide 13: Revenue and Profitability Snapshot – FY25
12 Revenue and Profitability Snapshot – FY25 Revenue from Operations1 Operating EBITDA and Margin 1,2 EBITDA and Margin1 Normalised PAT and Margin3 (Post Ind As) (Post NCI) 16.8% 19.5% 15.9% 18.5% 6.5% 8.6% 4,138 806 3,699 765 357 620 588 240 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 Notes: 1. Revenue
Slide 14: Revenue and Profitability Snapshot – Q4 FY25
13 Revenue and Profitability Snapshot – Q4 FY25 Revenue from Operations1 Operating EBITDA and Margin 1,2 EBITDA and Margin1 Normalised PAT and Margin3 (Post Ind As) (Post NCI) 17.1% 19.3% 16.5% 19.2% 8.9% 10.6% 978 1,000 193 192 167 106 162 87 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25
Slide 15: Hospital and other New Business Performance – FY25
Hospital and other New Business Performance – FY25 % of Revenue Revenue Operating EBITDA(5) Hospitals and Clinics INR 3,990 Cr INR 875 Cr 94% 13% 22% Core established business YoY Revenue Growth Margins 19 hospitals(1) 10 clinics 5,159 capacity beds Labs and Pharmacies INR 266 Cr INR 8 Cr 6% -7% 3%
Slide 16: Capex
Capex
Slide 17: Hospitals: Pipeline Projects
16 Hospitals: Pipeline Projects Further addition of 2100+ beds, bringing the total bed capacity to ~7300 6,830 7,291 100 130 7,291 350 300 454 300 Beyond FY27 : 264 75 580 beds 159 FY27 : 5,159 1,054 beds FY26 : 498 beds Aster Aster Aster Aster Current Aster MIMS Aster W&C Aster Capital Aster CMI As
Slide 18: 4th Multispecialty hospital in Bengaluru
4th Multispecialty hospital in Bengaluru Aster DM Healthcare Sarjapur marks a step towards strengthening its leadership in Bengaluru with 2,000+ beds and a city-wide presence across major zones • Toal Bed capacity : 430 beds Bed Capacity • Phase 1 : 300 beds to be operational by H2 FY27 • Phase 2 :
Slide 19: Greenfield Expansion
Greenfield Expansion 18 Aster Capital, Trivandrum Aster W&C, Hyderabad Aster MIMS, Kasargod Multispecialty | 454 Beds Mother and Child Care | 300 Beds Multispecialty | 264 Beds Construction start date : July 2024 Construction start date : June 2025 Construction start date : Dec 2022 Floors : G+7 Flo
Slide 20: Brownfield Expansion
Brownfield Expansion 19 Multispecialty | Total : 950+ Beds Multispecialty | Toal : 220+ Beds Bed Expansion :100 Beds Bed Expansion : 75 Beds Ownership: Owned Ownership: Leased Expected Timeline : H1 FY28 Expected Timeline : H2 FY26 Waiting for statutory approvals. All design and other pre-constructi
Slide 21: Growth Strategy
Our strategic priorities towards driving future growth and improvement in profitability Focus Areas Capital ✓ Investing prudently in both brownfield (expanding existing units) and greenfield Investment A projects across clusters and opportunistically exploring inorganic opportunities Operational ✓ F
Slide 22: Core Business - Hospitals and Clinics
Core Business - Hospitals and Clinics
Slide 23: Hospital Financial Trends
Hospital Financial Trends Hospital Operating EBITDA 1,2 Hospital Revenue1 Hospital EBITDA and Margin and Margin (In INR Cr) (In INR Cr) 13% 12% 17% 19% 20% 22% Margin 3,990 875 3,519 2,851 688 2,343 538 1,631 1,647 407 212 201 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Hospital PAT
Slide 24: Hospital Operational Trends
Hospital Operational Trends No. of Hospitals No. of capacity beds Total patient volumes (In Mn) 5,159 3.6 19 4,867 19 3.3 17 4,317 3,905 2.9 3,693 3,757 14 14 3,460 13 2.2 2.2 12 1.8 1.5 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY19 FY20 FY21* FY22 FY23 FY24 FY25 Occupan
Slide 25: Hospitals & Clinics Revenue Mix
Hospitals & Clinics Revenue Mix Geographical Revenue Mix1 FY25 Specialty-wise Revenue Mix FY25 Women's Health, Andhra & Telangana Child and Adolscent Health, 6% [6%] 12% [12%] 6% [6%] Multi Speciality, 18% [18%] Orthopaedics, 7% [7%] Kerala 53% [57%] Karnataka & Maharashtra Nephrology And Urology, 3
Slide 26: Maturity Wise Hospital Performance – FY25
25 Maturity Wise Hospital Performance – FY25 Operational KPI Revenue Operating EBITDA Maturity IP Volume ARPOB ROCE (INR in Crs.) (INR Crs.) FY25 >> 1,91,355 46.5K 2,841 [72%] 691 [24.3%] 33.7% Over 6 Years 1% 12% 6% 15% 170 bps [10 Hospitals] FY24 >> 1,89,272 41.7K 2,683 [77%] 600 [22.4%] 32.0% 39,
Slide 27: Financial Summary
Financial Summary
Slide 28: Financial Summary- Profitability Statement
Financial Summary- Profitability Statement Particulars Q4 FY25 Q4 FY24 YoY % FY25 FY24 YoY % Revenue from Operations 1,000 978 2% 4,138 3,699 12% Material Cost2 225 232 938 916 Doctors Cost 230 220 921 816 Employee Cost 183 171 760 676 Other Cost 5 169 188 713 672 Operating EBITDA 193 167 16% 806 62
Slide 29: Financial Summary- Balance Sheet
Financial Summary- Balance Sheet Particulars (INR Cr) As at Mar 31, 2025 As at Mar 31, 2024 As at Mar 31, 2023 LIABILITIES Shareholders’ Equity 500 500 500 Minority Interest 244 158 157 Other Reserves 2,469 897 719 Land Revaluation Reserve 460 460 460 Gross Debt 642 669 597 Lease Liabilities - INDAS
Slide 30: Update on Merger of Aster DM & Quality Care
Update on Merger of Aster DM & Quality Care
Slide 31: Update on Merger of Aster DM & Quality Care
Update on Merger of Aster DM & Quality Care In Nov’24, Company announced: Merger of Quality Care with the Company (“Merger”) and Transaction Recap Preferential allotment of ~3.6% stake to Blackstone and TPG in the Company in lieu of initial acquisition of 5.0% stake in Quality Care by the Compan
Slide 32: Performance Highlights – Quality Care
Performance Highlights – Quality Care Revenue Pre-IndAS EBITDA1 EBITDA Margin Occupied Beds Total ARPOB Full Year FY25 : INR 3,967 cr FY25 : INR 813 cr FY25 : 20.5% FY25 : 2,627 FY25 : INR 40,100 12% 14% 40 bps 58 10% FY242 : INR 3,615 cr FY24 : INR 714 cr FY24 : 20.1% FY24 : 2,679 FY24 : INR 36,600
Slide 33: Performance Update – Quality Care
Performance Update – Quality Care 1 c.1,200 New Unit Launched (Nagercoil) 56% Growth Bed Add Plan CONGO Mix Underway in N3Y +25% of existing capacity 4 +150 bps YoY Facilities Refurbished 10 One Team Streamlined Org. Management CXO / Senior Management Integration of Teams across Regional Leadership
Slide 34: Combined Proforma Numbers for FY25
Combined Proforma Numbers for FY25 Aster + QCIL = Merged Entity (Figures for FY25) No. of Hospitals (Nos) 191 192 38 Operational Metrics City Presence (Nos) 15 14 27 Beds Capacity3 (Nos) 5,150+ 5,150+ 10,300+ Revenue (INR cr) 4,138 3,9675 8,105 Financial Metrics EBITDA4 (Adj Post-IndAS) (INR cr) 806
Slide 35: Proforma Performance Trend for Combined Entity
Proforma Performance Trend for Combined Entity Aster QCIL4 Merged Entity 8,105 +12% 5 7,314 6,183 +12% +12% 5 4,138 3,967 Revenue 3,699 3,615 2,983 3,200 (INR Cr) FY23 FY24 FY25 FY23P FY24P FY25P FY23P FY24P FY25P Margin 16.0% 16.8% 19.5% 21.3% 21.5% 21.5% 18.7% 19.1% 20.5% +20% 5 1,661 +30% +13% 5
Slide 36: Proforma Performance Trend for Combined Entity
Proforma Performance Trend for Combined Entity Aster QCIL Merged Entity 5,159 5,142 10,301 4,867 # of Capacity 4,885 9,752 4,317 4,608 beds 8,925 FY23 FY24 FY25 FY23P FY24P FY25P FY23P FY24P FY25P 68% 68% 65% 65% 65% 63% 62% 63% 62% Occupancy % FY23 FY24 FY25 FY23P FY24P FY25P FY23P FY24P FY25P 42.4
Slide 37: Expected Synergies Post-Merger
Expected Synergies Post-Merger Integrated ✓ Broader base of star senior specialists and exchange of learnings Doctor Model ✓ Greater ability to attract and retain medical talent with state-of-the-art medical facilities ✓ Adopt best marketing practices across Aster and QCIL to maximize patient outrea
Slide 38: Cluster Performance
Cluster Performance
Slide 39: Kerala Cluster: Hospitals and Bed Capacity
Kerala Cluster: Hospitals and Bed Capacity Revenue Contribution1 53% Aster Medcity MIMS Calicut MIMS Kottakkal Kochi, Kerala Kozhikode, Kerala Kottakkal, Kerala 2014, Owned 2013, Owned 2013, Owned CB: 862 OB: 662 CB: 698 OB: 465 CB: 359 OB: 282 MIMS Kannur Aster PMF Aster Mother Hospital Kannur, Ker
Slide 40: Kerala Cluster - Performance
Kerala Cluster - Performance Revenue (In INR Crs) Operational Metrics FY25 FY24 YoY Growth 2,007 2,108 1,691 1,318 ARPOB (INR) 42,300+ 38,100+ 11% 518 499 875 935 701 Occupancy 71% 79% -800bps Q4FY24 Q4FY25 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Average Occupied Beds 1,346 1,420 -5% Operating EBITDA1 AR
Slide 41: Karnataka & Maharashtra Cluster: Hospitals and Bed Capacity
Karnataka & Maharashtra Cluster : Hospitals and Bed Capacity Revenue Contribution1 35% Aster CMI Aster Whitefield Aster RV Bengaluru, Karnataka Bengaluru, Karnataka Bengaluru, Karnataka 2014, O&M 2021, Leased 2019, O&M CB: 509 OB:366 CB: 380 OB: 234 CB: 236 OB: 168 Aster Aadhar Aster G Madegowda Kol
Slide 42: Karnataka & Maharashtra Cluster - Performance
Karnataka & Maharashtra Cluster - Performance Revenue (In INR Crs) Operational Metrics FY25 FY24 YoY Growth 1408 355 307 1100 ARPOB (INR) 61,300+ 53,600+ 14% 817 655 442 433 310 Occupancy 62% 61% 90 bps Q4FY24 Q4FY25 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Average Occupied Beds 622 553 13% Operating EBIT
Slide 43: Andhra & Telangana Cluster: Hospitals and Bed Capacity
Andhra & Telangana Cluster : Hospitals and Bed Capacity Revenue Contribution1 12% Ramesh Guntur Prime Hospitals – Ameerpet Ramesh Sanghamitra Guntur, AP Hyderabad, Telangana Ongole, AP 2016, Leased 2014, Leased 2018, Owned CB: 350 OB: 225 CB: 158 OB: 98 CB: 150 OB: 130 Aster Narayanadri Ramesh Main
Slide 44: Andhra & Telangana - Performance
Andhra & Telangana - Performance Revenue (In INR Crs) Operational Metrics FY25 FY24 YoY Growth 473 412 370 344 116 303 314 105 279 ARPOB (INR) 29,900+ 28,100+ 6% Occupancy 54% 50% 460 bps Q4FY24 Q4FY25 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Average Occupied Beds 422 389 8% Operating EBITDA1 (In INR Crs)
Slide 45: Awards & Recognition
Awards & Recognition
Slide 46: Awards and Recognition
Awards and Recognition Dr. Azad Moopen – Founder & Chairman Ms. Alisha Moopen – Deputy Managing Director Honoured with the ENTREPRENEUR SUMMIT & AWARDS ET Global Entrepreneur of the year award as on March 2025 Ms. Alisha Moopen received the Featured in the Pravasi Bhushan Award Fortune India 100 Mos
Slide 47: Awards, Recognition and Rankings
Awards, Recognition and Rankings Global Hospital Rating AHPI Excellence in Healthcare Comprehensive stroke centre Aster Medcity, Kochi – certification Excellence in Emergency services Aster MIMS Calicut Aster DM Healthcare is honored with M&A Deal of the Aster MIMS Calicut & Kottakkal – Year at Indi
Slide 48: Clinical Excellence, Medical Infrastructure & Digital Initiatives
Clinical Excellence Medical Infrastructure & Digital Initiatives
Slide 49: High standards of clinical excellence
High standards of clinical excellence Select Firsts achieved by Aster Accreditations 1st in South Asia mixed 1st in India brain- 1st in Kerala to implant reality-based sensing device 1st in North Kerala the Tecnis Pure See International Institute of PERCEPT RC for a 72- Robotic Hysterectomy EDOF IO
Slide 50: Best-in-class Medical Technology
Best-in-class Medical Technology 30+ 7 16 10 Cathlabs LINACs MRI Machine Robots Surgical Robot, SSI Mantra 2.0 Ortho Robot, ROSA Recon Ortho Robot, Cori O-arm India’s first indigenous surgical robot. Cost effective A robotic surgical system, specifically a stereotaxic A robot for total/partial knee
Slide 51: Breakthrough Technology in Radiation Oncology
Breakthrough Technology in Radiation Oncology Intra Operative Electron Radiation Therapy (IOeRT), a breakthrough technology in Radiation Oncology 1st Time in India This cutting-edge technique allows for the delivery of targeted radiation directly to the tumor site during surgery, It minimizing damag
Slide 52: Digital Initiatives
Digital Initiatives Strengthening Footprints BuildingThrough a Robust Blocks for Future Phygital Growth Ecosystem Data-Driven Patient Engagement Aggregating Hospitals, Labs, and Harnessing Online Behavior, impacting Pharmacies services Patient Care & Drive Enterprise Growth Enables anytime, anywhere
Slide 53: ESG Milestones
ESG Milestones 52 ~2,500 ton ~3,100 KL 90%+ ~2,150 tCO2e INR 3.3 Mn 16,100+ E Waste reduction is achieved in FY25,, i.e. 20% from the Reduction in Water consumption in FY25 i.e.~ Energy Consumption sourced from renewable Reduction in Carbon emission in FY25 i.e.~4% Worth of reduction in Annual Paper
Slide 54: Board & Leadership Team
Board & Leadership Team
Slide 55: Board of Directors
Board of Directors 54 Shamsudheen Bin Dr. Azad Moopen Alisha Moopen T. J. Wilson Mohideen Mammu Haji Founder Chairman and Managing Deputy Managing Director Non-Executive Director Non-Executive Director Director Purana Housdurgamvijaya Chenayappillil John James Mathew Emmanuel David Gootam Deepti Geo
Slide 56: Leadership Team
55 Leadership Team Dr. Azad Moopen Founder Chairman and Managing Director T. J. Wilson Ramesh Kumar S Dr.Somashekhar S P Sunil Kumar M R Chairman-Medical Advisory Group Head - Governance & Chief Operating Officer Board & Director – Aster International Institute of Chief Financial Officer Corporate A
Slide 57: Appendix
Appendix
Slide 58: Geography – wise Business – Snapshot – FY25
Geography – wise Business – Snapshot – FY25 57 KARNATAKA & ANDHRA & KERALA TOTAL MAHARASHTRA TELANGANA FY25 FY24 FY25 FY24 FY25 FY24 FY25 FY24 Total Capacity Beds 2,633 2,396 1,479 1,424 1,047 1,047 5,159 4,867 Operational Beds (Census) 1,974 1,827 1,014 946 781 779 3,769 3,552 Operational Beds (Non
Slide 59: Geography – wise Business – Snapshot – Q4 FY25
Geography – wise Business – Snapshot – Q4 FY25 58 KARNATAKA & ANDHRA & KERALA TOTAL MAHARASHTRA TELANGANA Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Total Capacity Beds 2,633 2,396 1,479 1,424 1,047 1,047 5,159 4,867 Operational Beds (Census) 1,974 1,827 1,014 946 781 779 3,769 3,552 Op
Slide 60: Hospital and other New Business Performance – Q4 FY25
Hospital and other New Business Performance – Q4 FY25 % of Revenue Revenue Operating EBITDA(5) Hospitals and Clinics INR 969 Cr INR 202 Cr 94% 4% 21% Core established business YoY Revenue Growth Margins 19 hospitals(1) 10 clinics 5,159 capacity beds Labs and Pharmacies INR 58 Cr INR 2 Cr 6% -20% 3%
Slide 61: Thank You
Thank You Investor Relations: investors@asterdmhealthcare.in