Aster DM Quality Care logo

Aster DM Quality Care share price

NSE: ASTERDMBSE: 540975Healthcare ServicesMid Cap

Aster DM Quality Care Limited · Formerly Aster DM Healthcare · Face value ₹10 · Listed Feb 2018 · Issue price ₹190
Last close ₹669.45up ₹6.65 (1.00%)BSE ₹669.65

Share price at the NSE close on 28 Oct 2026. Previous close ₹662.80.

28 Oct: open ₹660.00, high ₹678.15, low ₹652.40

52-week range of traded prices to 28 Oct 2026
₹519.10Low, 4 Feb 2026₹891.30High, 10 Aug 2026
Market cap
₹58,354 Cr244th largest listed
P/E
183.11
P/E without one-offs
126.48
P/B
Shares changed
Dividend yield
0.45%
ROE
8.0%
ROE without one-offs
11.5%
ROCE
12.4%
Debt to equity
0.15
Volume, NSE
3,54,57944.4% delivered

Aster DM Quality Care share price chart

Daily closes since Feb 2018, adjusted for splits and bonuses

−4.4%over a year · Nifty 500 −8.8%

ResultsDividend20-session average 12,03,947 shares a day, 58.6% delivered

About Aster DM Quality Care

Aster DM Quality Care Limited runs hospitals, clinics and diagnostic labs.12 Its hospitals give primary, secondary, tertiary and quaternary care, from everyday treatment to specialist and highly complex procedures, to patients mainly in South and Central India and also in Bangladesh.234

It runs 39 hospitals in 28 cities under the Aster DM, CARE Hospitals, Evercare and KIMSHEALTH brands.5 Its Aster Labs business runs laboratories and patient experience centres across South India, and pharmacies run by Alfaone Retail Pharmacies carry the Aster brand under licence.67

The business began in 1987 as a single doctor's clinic in Dubai and started in India in 2001 at MIMS Kozhikode.8 The company was incorporated in 2008 and listed on NSE and BSE in 2018.98 In 2024 it separated its business in the Gulf countries (GCC) from India, and it has since sold the GCC business.810 Quality Care India Limited, which owned CARE Hospitals, KIMSHEALTH and Evercare, merged into the company on 1 Jul 2026, its shareholders receiving 977 shares for every 1,000 they held.111

Its promoters, Azad Moopen and his family and Blackstone, which had backed Quality Care, held 54% of the shares on 31 Jul 2026.1213 Azad Moopen, who founded the business, is Executive Chairman, and Varun Khanna, previously Group Managing Director of Quality Care, is Managing Director and Group CEO.14

Aster DM Quality Care key points

Results

  • In the quarter to Jun 2026, on a proforma, unaudited basis (both companies counted as if merged), revenue rose 20% to ₹2,597 crore and operating EBITDA (profit before interest, tax, depreciation and amortisation, as the company adjusts it) rose 30% to ₹576 crore.1516
  • For the Aster business alone, revenue rose 22% to ₹1,311 crore, operating EBITDA 29% to ₹277 crore and normalised profit after tax for shareholders (leaving out one-time items) 39% to ₹125 crore in the quarter to Jun 2026.1718
  • In the year to Mar 2026, on the same proforma, unaudited basis, revenue rose 14% to ₹9,273 crore and operating EBITDA 21% to ₹2,013 crore, a margin of 21.7%; both growth rates assume constant exchange rates.1920
  • In its consolidated accounts for the year to Mar 2026, before the merger, the company reported revenue of ₹4,643 crore, up 12%, operating EBITDA of ₹947 crore, up 17%, and profit after tax for shareholders of ₹388 crore, up 26%.21

Revenue mix

  • Hospital and clinic revenue by who pays22
    Itemquarter to Jun 2026quarter to Jun 2025
    Patients paying themselves (walk-in)53%56%
    Companies and insurers34%33%
    Government health schemes9%8%
    Patients from abroad (medical value travel)4%3%
  • Hospital and clinic revenue by specialty23
    Itemquarter to Jun 2026quarter to Jun 2025
    Cardiac sciences15%16%
    Neurosciences11%11%
    Oncology (cancer)10%10%
    Orthopaedics10%9%
    Gastroenterology10%10%
    Nephrology (kidney)6%6%
    Other specialties38%38%

Where revenue comes from

  • Share of hospital and clinic revenue by city, both companies combined24
    Itemyear to Mar 2026
    Bengaluru15%
    Trivandrum12%
    Kochi11%
    Hyderabad11%
    Dhaka, Bangladesh8%
    Calicut7%
    The top 10 cities brought in 78% of this revenue.

Hospitals and patients

  • On 30 Jun 2026 the group had 10,898 capacity beds; 65% were in Tier 2 and Tier 3 cities.25
  • On the proforma basis, the group treated over 2 million patients in the quarter to Jun 2026, up 13%, and blended occupancy (the share of beds in use) rose 510 basis points (hundredths of a percentage point) to 64%, on 10,559 operational beds.2627
  • Aster MIMS Kasargod, opened in October 2025, reached EBITDA breakeven (earnings covering its operating costs) in June 2026, within 9 months.2728
  • Procedures in the year to Jun 2026, both companies combined29
    Itemyear to Jun 2026
    Cardiac procedures87,125+
    Neuro procedures11,685+
    Joint procedures9,215+
    Robotic surgeries4,780+
    Transplants (kidney, liver and heart)885+

Debt and credit ratings

  • Combined net debt (borrowings less cash) was ₹1,162 crore on 30 Jun 2026: the Aster business held net cash of ₹511 crore and Quality Care had debt of ₹1,673 crore.30
  • On 10 Jul 2026 ICRA raised its credit rating (a grade of how likely a borrower is to repay) on ₹1,607 crore of term loans to AA, with a stable outlook, from A+.31
  • On 30 Jul 2026 CRISIL assigned AA+ with a stable outlook to the long-term and A1+ to the short-term bank facilities, ₹860.50 crore in all, moved over from Quality Care India in the merger.3233

Expansion and capital spending

  • The company stated in its annual report for the year to Mar 2026 that it plans to add 4,179 beds, taking capacity to 15,077, with 634 due in the year to Mar 2027 and 53% in existing hospitals.34
  • On its earnings call of 5 Aug 2026, the company said it expects to open Aster Capital in Trivandrum (454 beds) around January 2027 and, if medical equipment ordering goes as planned, the 300-bed Aster hospital in Hyderabad around April 2027.3536
  • In its exchange filing of 2 Jul 2026, the company said it plans to add 12 LINAC radiation machines in Tier 2 and Tier 3 cities and to invest in 10 robotic surgery platforms and Gamma Knife (radiation-based brain surgery).37

What the company expects

  • On its earnings call of 5 Aug 2026, the company said it expects its EBITDA margin (EBITDA as a share of revenue) to reach 24% to 25% within 2 to 3 years of the merger, somewhere between 2028 and 2029.383940
  • On its earnings call of 5 Aug 2026, the company said it aims to drive merger synergies (savings and added revenue from combining the businesses) of ₹150 crore to ₹200 crore.41
  • On its earnings call of 5 Aug 2026, the company said it expects revenue from patients who travel from abroad for treatment to keep growing by more than 50%, taking its share of revenue to mid-single digits and later double digits.42

Recent events

  • On 2 Sep 2026 Union (Mauritius) Holdings, owned by Azad Moopen's family, bought 46.09 lakh shares (about 0.57%) from Centella Mauritius Holdings for about ₹350.34 crore, raising the family's holding to about 24.58%.43
  • A subsidiary bought 14.21% of STS Holdings, a Bangladesh company in healthcare services and training, for $44,114,339, the company said on 28 Aug 2026.4445

Last updated

All 45 sources, each with its page
  1. 1. Annual report, 5 Sep 2026, page 16
  2. 2. Annual report, 5 Sep 2026, page 4
  3. 3. Annual report, 5 Sep 2026, page 13
  4. 4. Annual report, 5 Sep 2026, page 14
  5. 5. Annual report, 5 Sep 2026, page 57
  6. 6. Annual report, 5 Sep 2026, page 23
  7. 7. Annual report, 5 Sep 2026, page 22
  8. 8. Annual report, 5 Sep 2026, page 11
  9. 9. Annual report, 5 Sep 2026, page 132
  10. 10. Annual report, 5 Sep 2026, page 24
  11. 11. Annual report, 5 Sep 2026, page 7
  12. 12. Annual report, 5 Sep 2026, page 58
  13. 13. Exchange filing, 4 Sep 2026, page 1
  14. 14. Annual report, 5 Sep 2026, page 6
  15. 15. Investor presentation, 5 Aug 2026, page 7
  16. 16. Investor presentation, 5 Aug 2026, page 8
  17. 17. Investor presentation, 5 Aug 2026, page 21
  18. 18. Investor presentation, 5 Aug 2026, page 23
  19. 19. Annual report, 5 Sep 2026, page 17
  20. 20. Annual report, 5 Sep 2026, page 16
  21. 21. Annual report, 5 Sep 2026, page 24
  22. 22. Investor presentation, 5 Aug 2026, page 11
  23. 23. Investor presentation, 5 Aug 2026, page 11
  24. 24. Annual report, 5 Sep 2026, page 15
  25. 25. Investor presentation, 5 Aug 2026, page 5
  26. 26. Earnings call, 5 Aug 2026, page 5
  27. 27. Investor presentation, 5 Aug 2026, page 7
  28. 28. Annual report, 5 Sep 2026, page 27
  29. 29. Investor presentation, 5 Aug 2026, page 12
  30. 30. Earnings call, 5 Aug 2026, page 7
  31. 31. Annual report, 5 Sep 2026, page 123
  32. 32. Exchange filing, 30 Jul 2026, page 1
  33. 33. Exchange filing, 30 Jul 2026, page 1
  34. 34. Annual report, 5 Sep 2026, page 15
  35. 35. Earnings call, 5 Aug 2026, page 16
  36. 36. Annual report, 5 Sep 2026, page 28
  37. 37. Exchange filing, 2 Jul 2026, page 3
  38. 38. Earnings call, 5 Aug 2026, page 9
  39. 39. Earnings call, 5 Aug 2026, page 15
  40. 40. Earnings call, 5 Aug 2026, page 18
  41. 41. Earnings call, 5 Aug 2026, page 19
  42. 42. Earnings call, 5 Aug 2026, page 18
  43. 43. Exchange filing, 4 Sep 2026, page 2
  44. 44. Exchange filing, 28 Aug 2026, page 2
  45. 45. Exchange filing, 28 Aug 2026, page 3

Results

Consolidated; ₹ crore.Aster DM Quality Care quarterly results

Revenue growth, 12 months
+15.7%
Net profit growth, 12 months
+0.2%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,311 Crup 10.85%
Net profit
₹29 Crdown 80.94%
Net margin
2.2%

Revenue by quarter

₹1,086 CrSep 24₹1,050 CrDec 24₹1,000 CrMar 25₹1,078 CrJun 25₹1,197 CrSep 25₹1,186 CrDec 25₹1,182 CrMar 26₹1,311 CrJun 26
Peak revenue ₹1,311 Cr, quarter to Jun 2026; lowest ₹1,000 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

₹106 CrSep 24₹64 CrDec 24₹86 CrMar 25₹94 CrJun 25₹121 CrSep 25₹59 CrDec 25₹154 CrMar 26₹29 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,0861,0501,0001,0781,1971,1861,1821,311
Net profit1066486941215915429
Net margin9.7%6.1%8.6%8.7%10.1%4.9%13.0%2.2%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Hospitals & Clinics₹4,506 Cr94.2%
  • Labs₹154 Cr3.2%
  • Wholesale Pharmacies₹108 Crdown 14.52%2.3%
  • Others₹15 Cr0.3%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Not shown, P/B: the share count changed after the latest balance sheet (a rights issue, a buyback, an allotment or a listing), which does not yet hold the money it brought or returned. Its history crosses a change of basis in the accounts in the years to Mar 2024 and Mar 2025: days before it are of the company before the change.Aster DM Quality Care PE ratio and valuation

Price to earnings

At or below today's level on 97% of 1,908 trading days since Feb 2019.

LowestHighest
Its median38.26Industry median42.88
Dividend yield

At or below today's level on 74% of 2,111 trading days since Apr 2018.

LowestHighest
Its median0.00%Industry median0.24%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+39.0%−93.0%+1,887.1%0.4%
3 years+50.9%−4.1%+46.7%10.3%
5 years+43.4%+20.5%+14.0%6.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2025.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026. Foreign institutions include 4.08% held as foreign direct investment: a stake taken in the company directly, such as a foreign parent's, not bought by portfolio investors.Aster DM Quality Care shareholding pattern

Shareholding by group

  • Promoters53.79%
  • Foreign institutions12.26%
  • Indian institutions21.67%
  • Individuals and others12.17%
  • Employee trusts0.11%
Holder
BCP Asia II Topco IV Pte. LtdPromoter29.20%
Union Investments Private LimitedPromoter21.44%
Rimco (Mauritius) LimitedForeign direct investment4.08%
Union (Mauritius) Holdings LimitedPromoter2.87%
Centella Mauritius Holdings LimitedForeign companies2.18%
Rashid Aslam Bin Mohideen Mammu HajiNon-resident Indians1.29%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 66.99% of their shares. Since Jul 2026: promoters +0.07 pts, foreign institutions +1.95 pts, Indian institutions +5.19 pts, mutual funds +4.83 pts.

Mutual fund holdings

176 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 36 of the 67 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 176 funds holding Aster DM Quality Care

Bought for the first time
36
Added
45
Cut
22
Held unchanged
72
Sold out
26
Fund
HDFC Mutual Fund logoHDFC Small Cap FundHDFC Mutual Fund1,97,40,0313.37%₹1,376.2 Cr
Kotak Mahindra Mutual Fund logoKotak Mid Cap FundKotak Mahindra Mutual Fund1,47,13,7901.54%₹1,025.8 Cr
HDFC Mutual Fund logoHDFC Mid Cap FundHDFC Mutual Fund1,31,27,9980.90%₹915.2 Cr
HDFC Mutual Fund logoHDFC Focused FundHDFC Mutual Fund1,25,65,2813.30%₹876.0 Cr
HDFC Mutual Fund logoHDFC Flexi Cap FundHDFC Mutual Fund1,22,34,3300.79%₹852.9 Cr
Kotak Mahindra Mutual Fund logoKotak-Small Cap FundKotak Mahindra Mutual Fund1,11,67,8204.07%₹778.6 Cr
quant Mutual Fund logoquant Small Cap Fundquant Mutual Fund1,06,73,1522.09%₹744.1 Cr
SBI Mutual Fund logoSBI Contra FundSBI Mutual Fund91,99,6051.42%₹641.4 Cr
Nippon India Mutual Fund logoNippon India Small Cap FundNippon India Mutual Fund87,72,7070.76%₹611.6 Cr
Kotak Mahindra Mutual Fund logoKotak Large & Mid Cap FundKotak Mahindra Mutual Fund46,00,0001.05%₹320.7 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.Aster DM Quality Care insider trading

Bought on the market Sold on the market
  • Promoters and promoter group3 purchases, 0 sales₹380 CrNo saleNet₹380 Cr3 pledge filings of unclear kind
  • Others: no market trade · 8 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Aster DM Quality Care competitors and peers

Hospital, 40 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Aster DM Quality Care in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Apollo Hospitals Enterprise logoApollo Hospitals EnterpriseAPOLLOHOSP1,16,99855.9912.34+17.2%+32.8%23.6%19.9%0.25%
Manipal Health EnterprisesMANIPALHOS84,612––––––0.00%
Max Healthcare Institute logoMax Healthcare InstituteMAXHEALTH82,87756.877.71+16.0%+27.0%14.5%13.0%0.23%
Fortis Healthcare logoFortis HealthcareFORTIS57,33954.725.79+17.5%+20.7%11.1%12.7%0.13%
Narayana Hrudayalaya logoNarayana HrudayalayaNH35,21343.157.76+57.8%+3.9%20.0%13.1%0.26%
Global Health logoGlobal HealthMEDANTA34,49762.028.71+21.3%+4.1%15.1%14.2%0.04%
Krishna Institute of Medical Sciences logoKrishna Institute of Medical SciencesKIMS29,594144.7113.17+30.9%−46.2%9.3%8.7%0.00%
Dr. Agarwal's Health Care logoDr. Agarwal's Health CareAGARWALEYE15,063101.537.44––7.6%14.1%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Aster DM Quality Care dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 18Mar 19Mar 20Mar 21Mar 22Mar 23120Mar 245Mar 253Mar 26
Highest ₹120.00 a share, year to Mar 2024.
Ex-dateTypePer share
2 Apr 2026Interim₹3.00
28 Aug 2025Final₹1.00
10 Feb 2025Interim₹4.00
22 Aug 2024Final₹2.00
23 Apr 2024Special₹118.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Aster DM Quality Care announcements

Aster DM Quality Care share price by year

Each calendar year to 2025.Aster DM Quality Care share price history

YearClose at year endChangeHighest closeLowest close
2025616.85+20.0%722.95394.00
2024513.95+25.4%522.75321.75
2023409.80+77.3%409.80207.55
2022231.10+33.0%269.55161.90
2021173.80+4.8%233.85133.20
2020165.85+3.2%177.6083.55
2019160.75+3.5%165.15112.85
2018155.30–191.95141.65
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2018 is from its first session, 26 Feb 2018.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026653.30673.90650.00662.80663.906,93,67843.6%
26 Oct 2026644.50656.25638.75647.00647.2116,79,70574.6%
23 Oct 2026654.05659.70638.00644.75644.056,45,62453.1%
22 Oct 2026650.05656.55641.80654.70650.995,23,65845.1%
21 Oct 2026674.50676.80648.70650.15653.139,28,50973.9%
19 Oct 2026674.40684.85664.80667.15672.704,13,10553.2%
16 Oct 2026686.50687.95669.35674.35674.157,03,21255.0%
15 Oct 2026675.20697.30675.20682.65689.196,19,51449.0%
14 Oct 2026688.10689.55673.60675.20677.9411,27,70366.9%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Buyback history

Ex-dateEventPrice factorWhat happened
23 Apr 2024Price move–A corporate action went ex within three days of this move (Special Dividend - Rs 118 Per Share, ex-date 23 Apr 2024), and its terms do not account for the move. Not adjusted for.
Each event is noted and not adjusted for.

Company details

Chairperson
MANDAYAPURATH AZAD MOOPEN
At the end of the quarter to Jun 2026
NSE symbol
ASTERDM
BSE code
540975
ISIN
INE914M01019
Industry
Healthcare Services
CIN
L85110TS2008PLC207383
Corporate identity number, the registrar of companies' code for it
Incorporated
2008
Registered office
No. 7-1-450/20, Plot No. 04, Mythri Vihar, Ameerpet, Hyderabad 500038, Telangana
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments