Slides
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For the quarter ending June 30, 2025 Earnings Presentation
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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 conditions as in effect on the date hereof. Subsequent developments may impact the information contained in this presentation, which neither the Company nor its advisors or representatives are under an obligation to update, revise or affirm. Contents in the Presentation do not constitute or form part of an offer or invitation for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto in India, the United States or any other jurisdiction. • Prospective and existing investors should make their own evaluation of the Company as the information provided here does not purport to be all inclusive or to contain all of the information a prospective or existing investor may desire. Interested parties shall conduct their own due diligence and investigation on the information, before relying and acting thereon. Company makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company. • This presentation may contain certain "forward looking statements", which are based on certain assumptions and expectations of future events. Actual future performance, outcomes and results may differ materially from those expressed in forward‐looking statements as a result of a number of risks, uncertainties and assumptions. Though such forward‐looking statements are based on reasonable assumptions, it can give no assurance that such expectations will be met. Neither the Company nor any of its advisors or representatives assumes any responsibility to update forward-looking statements or to adapt them to future events or developments. • Note- QCIL Numbers are Indicative and subject to statutory audit adjustments. Proforma numbers for merged entity are also subject to finalization and audit of the merged accounts. Actual amounts, losses or impact on net profit could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated include harmonization of accounting policies and practices. 2
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Aster Key Highlights – Q1 FY26 3 Completed Share Swap, thereby owning 5.0% stake in Quality Care and the shares issued by Aster to Blackstone and TPG are listed on stock exchanges Healthy ramp-up in Kerala cluster, continued strong performance in other clusters supported by ARPOB growth and improvement in ALOS ▪ Kerala cluster revenue grew by 5% YoY as compared to 4% de-growth in Q4FY25 YoY , driven by 6% QoQ increase In-patient volumes. ▪ Karnataka & Maharashtra cluster revenue grew by 13% YoY ▪ Kerala cluster operating EBITDA margin at 25.3% in Q1 FY26, improved by 270+ bps YoY (22.7% in Q1 FY25) ▪ Karnataka & Maharashtra cluster operating EBITDA margin at 23.2% in Q1 FY26, improved by 200+ bps YoY (21.2% in Q1 FY25) Contribution from Oncology increased to 11% in Q1 FY26 from 10% in Q1 FY25; Oncology revenue grew by 16% YoY ALOS improved by 4% YoY to 3.1 days in Q1 FY26 from 3.2 days in Q1 FY25 aided by increased robotics surgeries and efficient hospital operations Launched Malayalam version of Aster Health app in Kerala — State’s first regional language healthcare super app ARPOB rose 14% YoY to INR 50,200 in Q1 FY26, driven by improved ALOS, Oncology growth, and favourable specialty mix Change in Occupancy reflects the addition of new beds as well as improvements in ALOS Robust growth in Operating EBITDA by 21% in Q1 FY26 driven by disciplined resource management, rationalized overhead costs, improved performance of lab business and EBITDA breakeven of the wholesale pharmacy. Operating EBITDA margin at 20% in Q1 FY26, up 230 bps YoY Added 320+ beds during the last year taking bed capacity to 5,197 beds as on June 30, 2025
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Aster Performance Highlights – Q1 FY26 Capacity Beds Q1FY26 : 5,197 Q1FY26 : 50,200 Q1FY25 : 44,200 Operational Q1FY25 : 4,869 320+ Inpatient visits ALOS Q1FY26 : 3.1 days Q1FY26 : 65.8 K Q1FY25 : 66.7 KQ1FY25 : 3.2 days - 4% -1% Outpatient visits Q1FY26 : 0.82 mn Q1FY25 : 0.78 mn 14% 6% 1. Operating EBITDA for the period Q1 FY26 excludes the ESOP Cost of Rs. 0.8 Cr [Q1 FY25: 2.9 Cr], Movement in fair value of contingent co nsideration payable of Rs. Nil Cr [Q1 FY25 : 2.7 Cr] , Variable O&M fee amounting to Rs.7.2 Cr [Q1 FY25 : 8.1 Cr]. Our Operatin g & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into deprec iation and finance costs as per IndAS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA 2. The PAT includes an amount of ₹ 21.8 Cr [Q1 FY25 : 32.8 Cr] from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and transaction cost of Rs 4.4 Cr 3. ROCE = EBIT/Average Capital Employed; Capital employed excludes CWIP and Land Revaluation reserve. The CWIP for ongoing pr ojects (including ROU, Capital Advances, and Capital Creditors) amounts to ₹ 1057 Cr for Q1 FY26[Q1 FY25 : ₹ 406 Cr]. Revenue Operating EBITDA1 Op EBITDA Margin RoCE Financial Q1FY26 : INR 1,078 Cr Q1FY26 : INR 215 Cr Q1FY25 : INR 177 CrQ1FY25 : INR 1,002 Cr 8% Q1FY26 : 20.0% Q1FY25 : 17.7% Q1FY26 : 20.7% Q1FY25 : 16.5% 21% 420 bps Normalised PAT2 Q1FY26 : INR 90 Cr Q1FY25 : INR 74 Cr 22%230 bps (Post-NCI) (Pre-Tax) 3 ARPOB 4
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Aster Other Highlights – Q1 FY26 Business Highlights ▪ Core hospital business delivered Operating EBITDA margin of 22.6% in Q1 FY26 (20.8% in Q1 FY25) ▪ Matured hospital Op. EBITDA margins at 24.5% in Q1 FY26 (23.2% in Q1 FY25) and ROCE at 34.6% ▪ Karnataka & Maharashtra cluster revenue grew by 13% YoY and Op. EBITDA grew by 23% YoY in Q1 FY26 ▪ Aster Labs revenue grew by 14% YoY in Q1 FY26; continuing to deliver positive EBITDA margin at 8% in Q1 FY26 ▪ The Aster Health app has clocked over 100,000 downloads since its launch in November 2024 Clinical Highlights ▪ High-end cutting-edge medical work; ~564+ transplants 1 and ~1,935+ Robotics surgeries1 ▪ Successfully performed a rare LVA surgery for leg lymphoedema in a 45-year-old patient ▪ Kerala’s first scarless robotic total thyroidectomy successfully performed ESG 2 Highlights ▪ ~577 Ton waste reduction, ~7,414 KL reduction in water consumption ▪ 97% electricity consumption from renewable sources at Aster CMI and RV ▪ 6,022 Free medical camps by Aster Volunteer Mobile Medical Services (AVMMS) ▪ Financial Express honoured Dr. Azad Moopen with "Healthcare Leader" of the Year award ▪ Financial Express honoured Ms. Alisha Moopen with "Women Entrepreneur" of the Year award ▪ Aster Digital Health, India received the title of ‘Most Impactful Digital Transformation in Healthcare’ at Elets Technomedia ▪ Medcity, CMI and MIMS Calicut were featured in top rankings by Times of India, Outlook and Newsweek Global media Recognition 1. TTM basis | 2. ESG highlights are for FY2025 Capex ▪ Plan to add 2,600+ beds overall to reach 7,800+ beds capacity in coming years ▪ Strengthening leadership position in Bangalore by adding 500 beds at Yeshwanthpur taking bed capacity to 2500+ beds 5
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6 Revenue from Operations1 Operating EBITDA and Margin1,2 EBITDA and Margin1 (Post INDAS) Normalised PAT and Margin3 (Post NCI) Notes: 1. Revenue, Operating EBITDA and EBITDA excludes other income 2. Operating EBITDA for the period Q1 FY26 excludes the ESOP Cost of Rs. 0.8 Cr (Q1 FY25: 2.9 Cr), Movement in fair value of contingent consideration payable of Rs. Nil Cr (Q1 FY25 : 2.7 Cr) , Variable O&M fee amounting to Rs.7.2 Cr (Q1 FY25 : 8.1 Cr). Our Operating & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA 3. The PAT includes an amount of ₹ 21.8 Cr (Q1 FY25 : 32.8 Cr) from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and transaction cost of Rs 4.4 Cr Revenue and Profitability Snapshot – Q1 FY26 177 215 Q1FY25 Q1FY26 1,002 1,078 Q1FY25 Q1FY26 20.0%17.7% 164 207 Q1FY25 Q1FY26 74 90 Q1FY25 Q1FY26 16.3% 19.2% 7.4% 8.3% Higher growth in Operating EBITDA by 21% YoY (resulting in 230 bps improvement in Operating EBITDA margin) is driven by disciplined resource management, rationalized overhead costs, improved performance of lab business and EBITDA breakeven of the wholesale pharmacy. 6
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Hospital and other New Business Performance – Q1 FY26 Hospitals and Clinics Labs Revenue Operating EBITDA 3 INR 3 Cr INR 1,042 Cr INR 235 Cr INR 35 Cr YoY Revenue Growth 8% 14% 23% 8% Margins YoY Revenue Growth INR 1,078 Cr INR 215 Cr 20% Margins Margins Margins 94% 3% YoY Revenue Growth 8%100% % of Revenue India Overall 2 1. Wholesale Pharmacy 2. Aster India overall numbers are after eliminations of INR 28 Cr ( Q1FY25: 28 Cr.) of intercompany revenue and INR 23 Cr. ( Q1FY25: INR 23 Cr.) of unallocated expenses. 3. Operating EBITDA for the period Q1 FY26 excludes the ESOP Cost of Rs. 0.8 Cr [Q1 FY25: 2.9 Cr], Movement in fair value of contingent co nsideration payable of Rs. Nil Cr [Q1 FY25 : 2.7 Cr] , Variable O&M fee amounting to Rs.7.2 Cr [Q1 FY25 : 8.1 Cr]. Our Operatin g & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA *Pharmacies 1 YoY Revenue Growth -6% INR 30 Cr INR 1 Cr 2% Margins 3% * Strategic exit from certain loss-making unit in the wholesale Pharmacy business led to the change in Pharmacy Revenue impact and EBITDA improvement 7
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Financial Summary – Q1 FY26 Particulars Q1 FY26 Q1 FY25 YoY % Revenue from Operations 1,078 1,002 8% Material Cost2 247 229 Doctors Cost 240 226 Employee Cost 195 190 Other Cost 181 180 Operating EBITDA 215 177 21% Employee Stock Option Expenses 1 3 Movement in FV of contingent consideration payable 0 3 Variable operation and management fees 7 8 EBITDA Post INDAS 207 164 27% Depreciation 63 60 Finance Cost 31 29 Other Income 33 49 Profit Before Tax 147 123 19% Tax 43 39 Profit After Tax (Before exceptional item) 104 84 24% Exceptional Item (4) 0 Profit After Tax3 99 84 19% Share of Profit/(Loss) of Associates (6) (3) NCI 8 7 Profit After Tax (Post Non-Controlling Interest) 86 74 16% Normalised PAT3 90 74 22% 1. Above numbers are in INR crore. 2. Material Cost % (Ex.Wholesale pharmacy) for Q1 FY26 is 21.6% and Q1 FY25 is 21.0%. 3. Normalised PAT for Q1 FY26 excludes an amount of ₹ Rs 4.4 Cr for transaction cost EBITDA Pre INDAS 181 144 INDAS Impact Q1 FY26 Q1 FY25 EBITDA Impact (26) (19) Depreciation 15 14 Finance Cost 18 18 PAT Impact 7 13 8
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Quality Care and Combined Financials
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QCIL - Key Highlights – Q1 FY26 Strong double-digit growth for the business driven by robust performance across clusters ▪ ARPOB and volume led growth supported by payor mix enhancement with shift in favor of cash and insurance ▪ Kerala cluster delivered 15% YoY driven by Trivandrum performance and Tamil Nadu saw strong ramp of Nagercoil unit launched in Oct’24 ▪ Of the other units, non-Hyderabad Indian units delivered 11% YoY and Bangladesh units delivered 26% YoY growth Overall operating EBITDA grew by 19.0% YoY largely driven by operational excellence and better leverage ▪ Initiatives around procurement centralization, F&B in-sourcing, clinical talent, and pricing have been showing early success ▪ Procurement synergies across QCIL entities delivered ~INR 20 crore of EBITDA uplift during the quarter ▪ Nagercoil unit launched in Oct’24 achieved EBITDA breakeven within 3 quarters Strengthened clinical teams by onboarding 70+ doctors across the QCIL hospital network Augmented leadership team by further onboarding 2 experienced professionals (10 professionals added in FY25) CARE and KIMSHEALTH recognized for their leading brands and excellence across specialties by The Economic Times, Outlook, and FE Healthcare ALOS has improved by 3% to 3.9 days in Q1 FY26, reflecting better clinical protocols ARPOB grew by 15% YoY reaching to ~INR 45k in Q1 FY26 (~INR 39k in Q1 FY25) ▪ Payor mix shift led by 170 bps reductions in scheme mix and 150 bps increase in cash / TPA / corporate share on a YoY basis ▪ ARPOB growth supported by improved specialty mix - CONGO share increased by 210 bps to 58.4% in Q1FY26 10
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QCIL Performance Highlights – Q1 FY26 Operational Capacity Beds Q1FY26 : 5,169 Q1FY25 : 4,931 238 Outpatient visits Q1FY26 : 0.83 mn Q1FY25 : 0.74 mn 12% Financial Revenue Q1FY26 : INR 1,079 Cr Q1FY25 : INR 930 Cr 16% Operating EBITDA1 Q1FY26 : INR 227 Cr Q1FY25 : INR 191 Cr 19% Op EBITDA Margin Q1FY26 : 21.1 % Q1FY25 : 20.5% 60 bps Q1FY26 : 44,788 Q1FY25 : 38,976 15% ARPOB Inpatient visits Q1FY26 : 59,459 Q1FY25 : 57,038 4% ALOS Q1FY26 : 3.9 days Q1FY25 : 4.0 days - 3% 1. Operating EBITDA is post-Ind AS EBITDA adjusted for one-off expenses QCIL Numbers are Indicative and subject to statutory audit adjustments. 11
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Combined Proforma Numbers for Q1 FY26 Financial Metrics Revenue (INR Cr) 1,078 1,0791 2,157 Operating EBITDA2 (INR Cr) 215 227 442 Op EBITDA Margin % 20.0% 21.1% 20.5% Aster QCIL Merged Entity* = + YoY (%) Revenue Growth 8% 16% 12% Op EBITDA Growth YoY (%) 21% 19% 20% (Figures for Q1 FY26) ROCE3 (%) 20.7% 20.4% 20.5% Note 1. QCIL numbers are indicative and subject to statutory audit adjustments, if any 2. Combined Operating EBITDA is Post INDAS EBITDA adjusted for one -time & non-cash expenses, ESOP cost, movement in fair value of c ontingent consideration and variable O&M fee 3. RoCE is computed on average capital employed excl. revaluation reserves and CWIP and Intangibles * Proforma financials for merged entity are subject to finalization and audit of the merged accounts. Actual amounts, losses or impact on net profit could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated include harmonization of accounting policies and practices. 12
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Combined Proforma Numbers for Q1 FY26 Notes: 1. Includes WIMS 2. Includes Nagercoil facility (Tamil Nadu) which was operationalized in Sep’24 3. Refers to total capacity beds as of Jun ‘25 Operational Metrics (Figures for Q1 FY26) Aster QCIL Merged Entity* = + No. of Hospitals (Nos) 191 192 38 City Presence (Nos) 15 15 27 Beds Capacity3 (Nos) 5,190+ 5,160+ 10,350+ Occupancy (%) 59% 59% 59% ARPOB (INR) 50,200 44,788 47,291 Total Patient Volume (Mn) 0.89 1.780.89 * Proforma numbers for merged entity are subject to finalization and audit of the merged accounts. Actual amounts, losses or impact on net profit could materially differ from those that have been estimated. In addition, other factors that could cause ac tual results to differ materially from those estimated include harmonization of accounting policies and practices. 13
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Aster – Core Businesses Hospitals and Clinics
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212 201 407 538 688 875 FY20 FY21 FY22 FY23 FY24 FY25 1,631 1,647 2,343 2,851 3,519 3,990 FY20 FY21 FY22 FY23 FY24 FY25 21 -9 176 274 366 513 FY20 FY21 FY22 FY23 FY24 FY25 (In INR Cr) (In INR Cr) Hospital ROCE (In %) Hospital EBITDA and Margin (In INR Cr) Note: 1. Operating EBITDA for the period Q1 FY26 excludes the ESOP Cost of Rs. 0.8 Cr [Q1 FY25: 2.9 Cr], Movement in fair value of contingent co nsideration payable of Rs. Nil Cr [Q1 FY25 : 2.7 Cr] , Variable O&M fee amounting to Rs.7.2 Cr [Q1 FY25 : 8.1 Cr]. Our Operatin g & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA Hospital Revenue Hospital Operating EBITDA and Margin1 Hospital PAT Hospital RoCE 21% 23% 20% Margin17% 19% 968 1,042 Q1FY25 Q1FY26 201 235 Q1FY25 Q1FY26 3% 2% 15% 20% 23% 25% FY20 FY21 FY22 FY23 FY24 FY25 23% 26% Q1FY25 Q1FY26 112 146 Q1FY25 Q1FY26 22%13% 12% Hospital Financial Trends 15
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Hospital Operational Trends 61% 56% 66% 68% 68% 65% FY20* FY21* FY22 FY23 FY24 FY25 2.2 1.5 2.2 2.9 3.3 3.6 FY20 FY21* FY22 FY23 FY24 FY25 No. of capacity beds 3,693 3,757 3,905 4,317 4,867 5,159 FY20 FY21 FY22 FY23 FY24 FY25 Total patient volumes 27.7 30.1 33.5 36.5 40.1 45.0 FY20 FY21 FY22 FY23 FY24 FY25 No. of Hospitals 3.5 3.9 3.7 3.4 3.4 3.2 FY20 FY21 FY22 FY23 FY24 FY25 ARPOBOccupancy1 ALOS (In %) (In INR ‘000) (Number of Days) (In Mn) 13 14 14 17 19 19 FY20 FY21 FY22 FY23 FY24 FY25 *Drop in Patient Volumes and Occupancy during FY20 and FY21 due to COVID | 1. Occupancy as per operational census bed 0.8 0.9 Q1FY25 Q1FY26 19 19 Q1FY25 Q1FY26 4,869 5,197 Q1FY25 Q1FY26 44.2 50.2 Q1FY25 Q1FY26 3.2 3.1 Q1FY25 Q1FY26 67% 59% Q1FY25 Q1FY26 Change in Occupancy reflects the addition of new beds as well as improvements in ALOS ARPOB growth is driven by case mix enhancement and improvement in ALOS ALOS improvement is aided by increased robotics procedures and efficient hospital operations 16
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Walk In 56% [58%] TPA/Insurance 31% [31%] ESI/ECHS/C GHS3 5% [3%] MVT2 3% [4%] Corporate 3% [2%] State/Central Schemes 2% [2%] Kerala 53% [55%] Karnataka & Maharashtra 36% [34%] Andhra & Telangana 11% [11%] Contribution from Oncology increased to 11% in Q1 FY26 from 10% in Q1 FY25 1. Geographical Revenue Mix refers to the revenue from hospitals only 2. MVT: Medical Value Travel; TPA: Third Party Administrator; ESI: Employee State Insurance 3. ECHS: Ex-Servicemen Contributory Health Scheme; CGHS: Central Government Health Scheme 4. Numbers in brackets are for corresponding quarter prior year Geographical Revenue Mix1 Q1 FY26 Specialty-wise Revenue Mix Q1 FY26 Payor Revenue Mix Q1 FY26 Multi Speciality, 16% [17%] OP Pharmacy, Anaestheolgy, 14% [13%] Cardiac Sciences , 13% [14%] Neuro Sciences, 11% [11%] Oncology, 11% [10%] Gastroenterology and Integrated Liver Care, 8% [9%] Orthopaedics, 8% [8%] Nephrology And Urology, 7% [7%] Women's Health, 6% [6%] Child and Adolscent Health, 5% [6%] Hospitals & Clinics Revenue Mix No single specialty accounts for more than 15% of total revenue. 17
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18 Maturity Wise Hospital Performance – Q1 FY26 Maturity Hospitals3 Revenue4 (INR in Cr) Operational Beds5 (Census) Key Performance indicators ARPOB Operating EBITDA 4 (INR Cr) Operating EBITDA %4 ROCE Over 7 Years ₹ 51,800 3-7 Years2 ₹ 44,300 0-3 Years1 ₹ 50,400 10 ₹178 3 ₹33 71% ₹727 69% 2,663 16% ₹161 16% 617 18 ₹1,028 3,832 ₹ 50,200 ₹235 22.8% 26% 1. 0-3 Years Hospitals include: Aster Whitefield Hospital, Aster Narayanadri, Ramesh (IB), Aster G Madegowda, Aster PMF. 2. 3-7 Years Hospital include : Aster RV, Aster MIMS Kannur & Aster mother Hospital Areekode. 3. Wayanad Institute of Medical Sciences (WIMS) details are not included above. Considering WIMS, count of hospitals in India is 19. 4. Revenue and Operating EBITDA shown above excludes other income. 5. Operational Beds (Census) are beds as on 30 th June, 2025. 5 ₹24 14% ₹140 14% 552 24.5% 20.4% 17.0% 35% 24% 4% 18
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Capex
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20 159 75 264 300 454 300 350 100 130 500 7,829 5,197 Leased Leased Leased Leased Owned Leased O&M Owned Leased Leased Current Projected FY26 : 498 beds FY27 : 1,054 beds Further addition of 2,600+ beds, bringing the total bed capacity to 7,800+ beds Beyond FY27 : 1,080 beds Hospitals: Pipeline Projects Projects Current Status: *Aster Whitefield block D, Aster Ramesh Ongole, Aster Kasargod, Aster W&C Hyderabad and Aster Capital are in Construction phase ** Aster CMI, Aster Medcity (PMR block), Aster Sarjapur and Yeshwanthpur are in design phase. Brownfield:- 684 beds; Greenfield:- 1,948 beds. Aster Whitefield Block D* Aster Ramesh Ongole* Aster MIMS Kasargod* Aster W&C Hyderabad* Aster Capital* Trivandrum Aster Sarjapur** Phase I Aster CMI** (Expansion) Aster Medcity** Aster** Sarjapur Phase II Aster** Yeshwanthpur 6,8307,829 20
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5th Multispecialty hospital in Bengaluru : Yeshwanthpur Aster DM Healthcare Yeshwanthpur marks a step towards strengthening our leadership in Bengaluru with 2,500+ beds and a city-wide presence Bed Capacity Project Details Location Advantage Rationale • Total Bed capacity : 500 beds • To be operational by H2 FY29 • Lease agreement duration: 30 years (long-term) • Total investment: INR 580 crores • Built-up area: 5 lakh square feet • Project type: Hospital development Located in Yeshwanthpur, with: • Excellent connectivity via Tumkur Road (NH4), • Outer Ring Road, Bellary Road, Namma Metro (Green Line), • Proximity to Yeshwanthpur Railway Station. • 5th multispecialty hospital in Bengaluru • High-Density Area: Surrounded by tech parks, industries, and 3-4 million residents. 21 Aster Whitefield Proposed Location Sarjapur, 4th Multispecialty Proposed Location Yeshwanthpur, 5th Multispecialty 21
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22 Greenfield Expansion Aster Capital, Trivandrum Multispecialty | 454 Beds Construction start date : July 2024 Floors : G+7 Floors (Phase 1) 6.5 Acre Land – Owned 6.2 lakh sq.ft Built up Area incl. MLCP area Expected Timeline : H2 FY27 Civil works are completed. MEP work in progress on site and Interior and utility items in negotiation stage Aster W&C, Hyderabad Mother and Child Care | 300 Beds Construction start date : June 2025 Floors : A block G+11 Floors and B block G+5 Floors, 3B common 2 Acre Land – Leased 3.23 lakhs sq.ft Built up Area Expected Timeline : H1 FY27 Civil work in progress Aster MIMS, Kasargod Multispecialty | 264 Beds Construction start date : Dec 2022 Floors : B+G+6 Floors 2.5 Acre Land – Leased 2.10 lakh sq.ft Built up Area Expected Timeline : H1 FY26 Civil and MEP works are completion. Interior and final fit out works are in progress. Aster Sarjapur, Bengaluru Multispecialty | 430 Beds in two phases Design Phase 30 year long term Lease 4.2 lakhs sq.ft Built up Area Expected Timeline :300 beds by H2 FY27 | 130 beds by FY29 Rationale : Strategically located in the fast-growing Sarjapur corridor in Bangalore 22
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23 Brownfield Expansion Multispecialty | Current : 150 Beds Bed Expansion : 75 Beds Ownership: Leased Expected Timeline : H1 FY26 Construction work is completed, Acquired the permissions and licenses to operate Multispecialty | Current : 878 Beds Bed Expansion :100 Beds Ownership: Owned Expected Timeline : H1 FY28 Waiting for statutory approvals. All design and other pre-construction activities completed Aster CMI Multispecialty | Current : 509 Beds Bed Expansion : 350 Beds Ownership: Leased (O&M) Expected Timeline : H1 FY28 Currently in Architectural design phase. Ongoing expansions at key hospitals to result in large-format facilities: Medcity – 950+ beds, CMI – 850+ beds, and Whitefield – 530+ beds, strengthening our ability to meet growing regional demand Aster Whitefield Multispecialty | Current : 380 Beds Bed Expansion : 159 Beds Ownership : Leased Expected Timeline : H1 FY26 Civil and MEP works are near completion. Interior works are in progress. Aster Medcity Aster Ramesh Ongole 23
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Update on Merger of Aster DM & Quality Care
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Update on Merger of Aster DM & Quality Care Expected timeline for the completion of the Merger: Q4 FY26 Transaction Recap In Nov’24, Company announced: Merger of Quality Care with the Company (“Merger”) and 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 Company (“Share Swap”) Share Swap Company has received shareholders approval, CCI approval and stock exchange approval Post receipt of the statutory approvals, Company has completed the Share Swap, thereby owing 5.0% stake in Quality Care and the shares issued by Aster to Blackstone and TPG are now listed on the stock exchanges Stock Exchanges/ SEBI NOC (Merger) Application made for no-objection letter from the Stock Exchanges/ SEBI post which the Company will approach NCLT NCLT Approval and Listing Post application to NCLT, shareholders’ meeting will be scheduled to consider and approve the Merger NCLT to review the application post receipt of shareholders’ approval and once approved, Merger will be made effective and new shares of the Company will be issued CCI Approval Company has received the CCI approval for the Share Swap and the Merger 25
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Revenue Synergies Supply Chain Integrated Doctor Model Lower Overheads Identified synergies to have a near-term EBITDA upside potential of 10-15%1 ✓ Adopt best marketing practices across Aster and QCIL to maximize patient outreach and conversion ✓ Strengthened initiatives to attract international patients ✓ Expanded coverage by insurance companies with integrated operations ✓ Rationalization of spends on procurement of drugs, consumables & other expenses through centralization ✓ Leveraging scale to negotiate, streamline vendors and enhance formulary compliance ✓ Broader base of star senior specialists and exchange of learnings ✓ Greater ability to attract and retain medical talent with state-of-the-art medical facilities ✓ Optimization of corporate functions ✓ Leverage best practices, technology and channel mix optimization Additional Synergies within QCIL ✓ Increased revenue potential from international patients, optimized RCM, and better realization ✓ Cost savings including improvement in material margin, manpower optimization, corporate overheads, and other indirect expenses Expected Synergies Post-Merger Notes: 1. As % of FY24 Pro-forma EBITDA of the merged entity 26
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Appendix
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Aster at a Glance 1. Presence and Operational metrics are as on June 30, 2025 2. Count includes 4 O&M Asset Light hospital beds with a capacity of 554 beds 3. Pharmacies in India operated by ARPPL under brand license from Aster 4. Operating EBITDA Margin has been rounded off 5. Five Year Revenue & Operating EBITDA CAGR and 5 Year Capex are till the year ending FY25 6. Kerala hospital and bed count excludes WIMS. PECs: Patient Experience Centers ; ALOS: Average Length of Stay; ARPOB: Average revenue per occupied bed; Andhra & Telangana Andhra Pradesh Hospital: 6, Beds: 889 Telangana Hospital: 1, Beds: 158 Kerala Hospital6: 6, Beds: 2,653 Karnataka & Maharashtra Maharashtra Hospital: 1, Beds: 256 Karnataka Hospital: 4, Beds: 1,241 Financial metrics (Q1 FY26) Our Presence/Strength1 Operational metrics (Q1 FY26) 192 Hospitals 15 Cities and 5 States 5,197 Capacity beds Op. EBITDA Margin: 20%4 38% 5 Year CAGR5 Revenue INR 1,078 Cr 20% 5 Year CAGR5 Capex INR 102 Cr ~INR 1,230 Cr 5 Year Capex5 59% Occupancy INR 50,200 ARPOB 3.1 days ALOS 203 Pharmacies3 259 Labs and PECsClinics 10 28
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“We’ll treat you well” Our Promise Our Vision and Core Values “Surpassing current benchmarks constantly by continually challenging its ability and skills to take the organisation to greater heights” - Albert Einstein Excellence “Going the extra mile willingly, with a complete sense of belongingness and purpose while adding value to the stakeholders” - Steve Jobs Passion “Treating people with utmost dignity, valuing their culture contributions and fostering a culture that allows each individual to rise to their fullest potential” - Mahatma Gandhi Respect “Going beyond boundaries with empathy and care” - Mother Teresa Compassion “Harnessing the power of synergy and engaging people for exponential performance and results” - H.H. Sheikh Zayed Bin Sultan Al Nahyan Unity “Doing the right thing without any compromises and embracing a higher standard of conduct” - Nelson Mandela IntegrityA caring Mission with a global vision to serve the world with accessible and affordable quality healthcare Our Vision Our Values Dr. Azad Moopen Founder Chairman & Managing Director 29
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✓ Leveraging technology & digital medium for superior patient outcomes and reach Growth Strategy ✓ Focusing more on niche specialties to drive better ARPOB ✓ Optimizing existing facilities – Payor mix & high-end procedures ✓ To enhance efficiency and lower operational expenses, thereby improving EBITDA margins ✓ Creation of ecosystem by gradually establishing labs and pharmacies ✓ Investing prudently in both brownfield (expanding existing units) and greenfield projects across clusters and opportunistically exploring inorganic opportunities Focus Areas Capital Investment Operational Efficiency Cost Optimisation Initiatives Continuity of Care Technology & Digital Our Strategic Priorities towards driving future growth and improvement in profitability E D C A B 30
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Cluster Performance
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MIMS Calicut Kozhikode, Kerala 2013, Owned MIMS Kottakkal Kottakkal, Kerala 2013, Owned MIMS Kannur Kannur, Kerala 2019, Owned Aster Mother Hospital Areekode, Kerala 2022, O&M Asset Light Aster PMF Kollam, Kerala 2023, O&M Asset Light Aster Medcity Kochi, Kerala 2014, Owned Kerala Cluster: Hospitals and Bed Capacity 53% 1. Hospital Revenue Contribution CB= capacity beds | OB = operational census beds Revenue Contribution1 CB 878 695 359 417 164 140 2,653 OB 700 477 282 337 117 101 2,014 Planned Expansion Aster Capital Trivandrum 454 beds Aster MIMS Kasargod 264 beds Aster Medcity Kerala 100 beds 800+ Beds Planned for Expansion 700 Greenfield Beds 100 Brownfield Beds • Kerala to have nearly ~3500 beds • Aster Medcity on its way to become a 950+ bedded hospital 32
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22.7% 25.3% Q1FY25 Q1FY26 120 140 Q1FY25 Q1FY26 528 552 Q1FY25 Q1FY26 11.2% 14.2% 13.2% 19.4% 21.0% 21.4% 23.4% FY19 FY20 FY21 FY22 FY23 FY24 FY25 701 875 935 1,318 1,691 2,007 2,108 FY19 FY20 FY21 FY22 FY23 FY24 FY25 78 124 124 255 356 430 493 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Revenue (In INR Cr) Operating EBITDA1 (In INR Cr) Operating EBITDA Margin1 (In %) 1. From FY19 to FY22 is reported as EBITDA and FY23 onwards it is operating EBITDA Operational Metrics Q1 FY26 Q1 FY25 YoY Growth Q4 FY25 QoQ Growth ARPOB (INR) 46,800+ 42,000+ 11% 44,400+ 5% ALOS (Days) 3.0 3.1 -5% 3.0 -1% Occupancy 64% 75% -1,100 bps 62% +200 bps Operational Beds 2,014 1,816 11% 1,974 2% Average Occupied Beds 1,279 1,361 -6% 1,228 4% ARPP (INR) 1,38,900 1,31,300 6% 1,33,075 4% In-Patient Visits 39,170+ 39,580+ -1% 36,890+ 6% Out-patient Visits (mn) ~0.53 ~0.51 4% ~0.50 6% Highlights: ▪ Healthy ramp-up with a 6% QoQ increase In-patient volumes and 200 bps QoQ increase in occupancy from Q4 FY25, reflects early signs of recovery. ▪ Regaining its growth momentum, revenue grew by 5% YoY in Q1 FY26, Vs. 4% de-growth in Q4FY25 YoY, driven by 6% QoQ increase In-patient volumes. ▪ Operating EBITDA margin improved by ~270 bps YoY to 25.3% in Q1 FY26 led by cost efficiencies and operating leverage in Manpower cost and Overheads. Kerala Cluster - Performance 33
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Aster CMI Bengaluru, Karnataka 2014, O&M Aster Whitefield Bengaluru, Karnataka 2021, Leased Aster RV Bengaluru, Karnataka 2019, O&M Aster Aadhar Kolhapur, Maharashtra 2008, Owned Aster G Madegowda Mandya, Karnataka 2023, O&M Asset Light Karnataka & Maharashtra Cluster : Hospitals and Bed Capacity 36% 1. Hospital Revenue Contribution | CB= capacity beds | OB = operational beds census Revenue Contribution1 CB 509 380 252 256 100 1,497 OB 366 234 179 213 35 1,027 Planned Expansion 1430+ Beds Planned for Expansion 930 Greenfield Beds 500+ Brownfield Beds • Strengthening leadership position in Bangalore by adding 430 beds at Sarjapur and 500 beds at Yeshwanthpur taking bed capacity to 2500+ beds Aster Sarjapur Bengaluru 430 beds Aster Yeshwanthpur Bengaluru 500 beds Aster CMI Bengaluru 350 beds Aster Whitefield Bengaluru 159 beds 34
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9.2% 9.5% 7.6% 12.6% 18.4% 19.7% 22.8% FY19 FY20 FY21 FY22 FY23 FY24 FY25 329 372 Q1FY25 Q1FY26 70 86 Q1FY25 Q1FY26 21.2% 23.2% Q1FY25 Q1FY26 310 442 433 655 817 1100 1408 FY19 FY20 FY21 FY22 FY23 FY24 FY25 28 42 33 83 150 217 321 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Karnataka & Maharashtra Cluster - Performance Revenue (In INR Cr) Operating EBITDA1 (In INR Cr) Operating EBITDA Margin2 1. From FY19 to FY22 is reported as EBITDA and FY23 onwards it is operating EBITDA 2. Operating EBITDA Margin excluding Whitefield is 23.9% in Q1 FY26 as compared to 23.5% in Q1 FY25 Operational Metrics Q1 FY26 Q1 FY25 YoY Growth Q4 FY25 QoQ Growth ARPOB (INR) 70,100+ 59,700+ 17% 65,700+ 7% ALOS (Days) 3.1 3.1 1% 3.0 3% Occupancy 56% 62% -600 bps 59% -300 bps Operational Beds 1,027 985 4% 1,014 1% Average Occupied Beds 578 598 -3% 595 -3% ARPP (INR) 2,17,500 1,82,600 19% 1,97,703 10% In-Patient Visits 16,960+ 17,800+ -5% 17,800+ -5% Out-patient Visits (mn) ~0.20 ~0.18 8% ~0.20 -1% Highlights: ▪ Decline in In-patient volume due to exit from few low-priced scheme business at Aster Aadhar. ▪ ARPOB significantly grew by 17% YoY due to increased contributions from high value procedures mainly from Oncology and Neurosciences. ▪ The revenue grew by 13% YoY in Q1 FY26 driven by 17% increase in ARPOB. ▪ Operating EBITDA significantly grew by 23% YoY in Q1 FY26 with operating margin improved by 200 bps YoY to 23.2% in Q1 FY26 on account of ramp up of Aster Whitefield and exit from low margin business and improved operational efficiencies. 35
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Ramesh Guntur Guntur, AP 2016, Leased Ramesh Sanghamitra Ongole, AP 2018, Owned Prime Hospitals – Ameerpet Hyderabad, Telangana 2014, Leased Ramesh Main Centre Vijayawada, AP 2016, Leased Ramesh Labbipet Vijayawada, AP 2016, Leased Ramesh Adiran (IB) Vijayawada, AP 2023, Leased Aster Narayanadri Tirupati, AP 2023, O&M Asset Light Andhra & Telangana Cluster : Hospitals and Bed Capacity 11% 1. Hospital Revenue Contribution CB= capacity beds | OB = operational beds census CB 350 158 150 150 135 54 50 1,047 OB 225 98 130 124 125 47 42 791 Revenue Contribution1 Planned Expansion Aster Ramesh Ongole 75 Beds 375+ Beds Planned for Expansion 300 Greenfield Beds 75 Brownfield Beds Aster W&C Hyderabad 300 Beds • Andhra & Telangana cluster to reach 1422 beds • Aster W&C hospital at Hyderabad is expected to be commissioned in H1 FY27 with 300 bed capacity 36
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111 118 Q1FY25 Q1FY26 11 9 Q1FY25 Q1FY26 11.9% 14.8% 16.2% 18.7% 9.3% 10.0% 12.7% FY19 FY20 FY21 FY22 FY23 FY24 FY25 Andhra & Telangana - Performance Revenue (In INR Cr) Operating EBITDA1 (In INR Cr) Operating EBITDA Margin (In %) 303 314 279 370 344 412 473 FY19 FY20 FY21 FY22 FY23 FY24 FY25 36 47 45 69 32 41 60 FY19 FY20 FY21 FY22 FY23 FY24 FY25 1. From FY19 to FY22 is reported as EBITDA and FY23 onwards it is operating EBITDA Operational Metrics Q1 FY26 Q1 FY25 YoY Growth Q4 FY25 QoQ Growth ARPOB (INR) 32,200+ 29,100+ 11% 31,500+ 2% ALOS (Days) 3.7 4.0 -7% 3.8 -4% Occupancy 50% 53% -300 bps 51% -100 bps Operational Beds 791 779 2% 781 1% Average Occupied Beds 392 407 -4% 398 -2% ARPP (INR) 1,18,800 1,15,200 3% 1,20,851 -2% In-Patient Visits 9,670+ 9,370+ 3% 9,330+ 4% Out-patient Visits (mn) ~0.09 ~0.09 9% ~0.09 3% 10.3% 7.9% Q1FY25 Q1FY26 Highlights: ▪ The revenue grew by 7% YoY in Q1 FY26 led by 3% increase in inpatient volume, 11% increase in ARPOB and 7% improvement in ALOS. ▪ ALOS exhibited significant improvement from 4.0 days in Q1FY25 to 3.7 days in Q1FY26 due to better clinical practices and efficient hospital operations including faster discharges. 37
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38 Geography wise Business – Snapshot – Q1 FY26 KERALA KARNATAKA & MAHARASHTRA ANDHRA & TELANGANA TOTAL Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 2,653 2,399 1,497 1,423 1,047 1,047 5,197 4,869 2,014 1,816 1,027 985 791 779 3,832 3,580 639 583 366 351 182 194 1,187 1,128 - - 104 87 74 74 178 161 3.0 3.1 3.1 3.1 3.7 4.0 3.1 3.2 64% 75% 56% 62% 50% 53% 59% 67% 0.53 0.51 0.20 0.18 0.09 0.09 0.82 0.78 39,170+ 39,580+ 16,960+ 17,800+ 9,670+ 9,370+ 65,800+ 66,750+ 46,800 42,000 70,100 59,700 32,200 29,100 50,200 44,200 1,38,900 1,31,300 2,17,500 1,82,600 1,18,800 1,15,200 1,56,200 1,42,700 Total Capacity Beds Operational Beds (Census) Operational Beds (Non-Census) Available Capacity Beds ALOS (Days) Occupancy1 Outpatient Visits (mn) In-patient visits ARPOB (INR) ARPP (INR) Notes: 1. Occupancy is calculated based on Operational Beds (Census). 2. Above details are for hospitals and does not relate to clinics 3. Data excludes Aster Wayanad 4. Operating EBITDA Margin of K&M cluster excluding Whitefield is 23.9% in Q1 FY26 as compared to 23.5% in Q1 FY25 5. Hospital only numbers 552 528 372 329 118 111 1,042 968 140 120 86 70 9 11 235 201 25.3% 22.7% 23.2% 21.2% 7.9% 10.3% 22.6% 20.8% Revenue Operating EBITDA Operating EBITDA Margin OperationalFinancial5 38
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Board & Leadership Team
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40 Board of Directors Non-Executive Director T. J. Wilson Non-Executive Director Shamsudheen Bin Mohideen Mammu Haji Independent Director Emmanuel David Gootam Maniedath Madhavan Nambiar Founder Chairman and Managing Director Dr. Azad Moopen Independent Director Purana Housdurgamvijaya Deepti Independent Director Deputy Managing Director Alisha Moopen Chenayappillil John George Independent Director Sunil Theckath Vasudevan Independent Director Non-Executive Director Dr. Zeba Azad Moopen Non-Executive Director Anoop Moopen Independent Director James Mathew 40
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41 41 Leadership Team Dr. Azad Moopen Founder Chairman and Managing Director T. J. Wilson Group Head - Governance & Corporate Affairs Dr Somashekhar S P Chairman-Medical Advisory Board & Director – Aster International Institute of Oncology Sunil Kumar M R Chief Financial Officer Vineesh Kumar Ghei Country Head – Sales, Marketing & RCM Durga Prasanna Head – HR Ramesh Kumar S Chief Operating Officer Hitesh Dhaddha Chief Investor Relations & M&A officer Kannan Srinivas Director – Aster Health Academy Dr. Harsha Rajaram CEO – Aster Digital Health . Hemish Purushottam Company Secretary Dr. Anup Warrier Chief – Medical Affairs & Quality Hari Prasad V K Head – Internal Audit, Risk & Compliance Hemakumar Nemmali Country Head – SCM & Central Procurement Dr. Prashanth N Chief Executive Officer – Karnataka Cluster 41
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- Awards & Recognition - Clinical Excellence - Medical Infrastructure - Digital Initiatives
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Awards and Recognition ENTREPRENEUR SUMMIT & AWARDS Honoured with the ET Global Entrepreneur of the year award as on March 2025 Association of Kerala Medical Graduates (AKMG) MARAAYA 2025 convention Dr. Azad Moopen received Lifetime Achievement Award as on May 2025 Dr. Azad Moopen – Founder, Chairman & Managing Director Ms. Alisha Moopen – Deputy Managing Director Ms. Alisha Moopen received the Pravasi Bhushan Award for her leadership in healthcare, coinciding with the launch of Aster Medcity’s CAR-T Cell Therapy for blood cancer Honoured with the Healthcare Leader of the year award by Financial Express Healthcare Awards 2025 Awarded Women Entrepreneur of the year at Financial Express Awards 2025 Featured in the Fortune India 100 Most Powerful Women in Business 2025 43
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Best Hospital Chain & Healthcare Brand of the Year Best Hospital Chain of the Year AHPI Excellence in Healthcare Aster Medcity, Kochi – Excellence in Emergency services Aster DM Healthcare has been awarded Excellence in Mergers & Acquisitions by Business World Awards, Recognition and Rankings Aster MIMS Calicut & Kottakkal – Employees Centric Hospital Aster Medcity | Aster CMI |Aster MIMS Calicut Most Credible Hospitals 2025 Aster DM Healthcare Best Multispecialty Hospital – Group ASSOCHAM Healthcare Summit 2024 Aster DM Foundation Best CSR Excellence in Healthcare (1st Runner Up) Aster Medcity: All India Aster CMI : All India Best Multispecialty Hospital India Aster Medcity : All India Best Multispeciality Hospital Aster CMI : All India Best Multispecialty Hospital Aster Medcity : South Best Multispeciality Hospital Aster CMI : South Best Multispecialty Hospital Best Multispecialty Hospital Ranking 2025 Aster CMI, Bengaluru Aster Medcity, Kochi Global Hospital Rating 2 1 1 24 5 13 28 Aster Medcity, Kochi 3 Golds (Emergency & Critical Care, Neurosciences, Robotic Surgery) 1 Silver (Organ Transplant) Aster Whitefield Silver (Oncology, Neurosciences) Bronze (Multi-Specialty Care) Aster CMI Bronze in Multi-Specialty Care. Aster Digital Health won ‘Most Impactful Digital Transformation in Healthcare’ at the Elets Technomedia Healthcare Innovation Awards 2025. Times All India Critical Care Rankings 2025 The Worlds Best Hospitals 2025 The COEs of Aster Medcity, Aster CMI and Aster MIMS are ranked under Top 10 Aster MIMS Calicut First hospital in India to receive certification & accreditation as a “Comprehensive Chest Pain Center by the American Heart Association” 44
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High standards of clinical excellence 1,370+ Cardio-vascular surgeries 3,530+ Joint replacements 5,570+ Neuro surgeries 1,930+ Robotic surgeries 10,490+ Urology procedures 41,340+ CIG/PTCA (Angiogram & Angioplasty) 4,810+ Gastro-intestinal surgeries 560+ Transplants1 Select Firsts achieved by Aster 1st in India brain- sensing device PERCEPT RC for a 72- year-old Parkinson's patient 1st in North Kerala Robotic Hysterectomy using the Da Vinci Robotic System. 1st in Kerala to implant the Tecnis Pure See EDOF IOL, presbyopia- correcting Intraocular Lens 1st CART cell infusion using ACTALYCABTAGENE AUTOLEUCEL for refractory Diffuse Large B-Cell Lymphoma 1st in Kerala, Percutaneous Endoscopic Lumbar Discectomy led by Dr. Faisal M Iqbal 1st in South Asia mixed reality-based International Institute of Neuroscience and Spine Care. 1st in South India to obtain NABH Digital Health Accreditation in the Platinum category Comprehensive multi-specialty clinical services backed by highly experienced clinician team and best-in-class medical technology 1st in North Kerala, Laparoscopic Right Pyeloplasty in the youngest child. Notes: 1. Includes heart, lung, BMTU, liver and kidney transplants Accreditations Research collaboration with NIT, Tata Elxsi, CUSAT and Kerala University PI initiated extramural research grant from Indian Council of Medical Research, New Delhi 42 395+ 370+ Intramural Research Projects completed Research Publication in Indexed journal Clinical Trials completed & 40+ ongoing 630+ 43+ 710+ Training Programs International Affiliations Trainees Research & Academics 37 New courses launched (14 - Clinical , 12 – Management, 10 – L&D, Technology - 1) at Aster Health Academy in FY25 TTM basis FY22 - FY25 45
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Best-in-class Medical Technology 30+ Cathlabs 7 LINACs 16 MRI Machine 10 Robots Digital PET - CT The uMi 550 is an 80-slice digital PET/CT system delivering combined functional and anatomical imaging. Cuvis Joint is a robotic system for orthopaedic surgeries, specializing in knee and hip replacements A cost-effective robotic surgical system by Intuitive Surgical, designed to help hospitals adopt or expand robotic surgery programs Surgical Robot, SSI Mantra 3.0 Ortho Robot, ROSA Recon Surgical Robot, Da Vinci XI Ortho Robot, Cori India’s first indigenous surgical robot. Cost effective with advanced features including telesurgery and tele- proctoring capabilities A robotic surgical system, specifically a stereotaxic instrumentation system, designed to assist surgeons in performing total/partial knee arthroplasty & THA A robot for total/partial knee Arthroplasty & Hip Replacement Surgery. It does not necessitate CT and preoperative imaging Brain Lab, Loop X A surgical imaging system that provides intraoperative 2D and 3D imaging during spine, orthopaedic, and trauma surgeries. It acts as an intraoperative CT scanner O-arm Ortho Robot, Cuvis Mobile intraoperative imaging robot allowing neurosurgeons to obtain large, real-time field view of the patient during surgery 46
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Aggregating Hospitals, Labs, and Pharmacies services Enables anytime, anywhere patient access to healthcare services Data-Driven Patient Engagement Harnessing Online Behavior, impacting Patient Care & Drive Enterprise Growth Live: 10 Hospitals Live: 4 Hospitals Digital Initiatives Building Blocks for Future GrowthStrengthening Footprints Through a Robust Phygital Ecosystem Enabling Future Growth in Patient Funnel, Lifetime Value, and Clinical Outcomes Significant Expansion of Patient Base through Aster Health App Higher Patient Retention and Lifetime Value through Personalized Engagement via Aster Care Better Clinical Outcomes through Data- Driven Precision Care Operational Efficiency & Cost Optimization through integration of hospital, Labs and Pharmacy systems Building the Digital Front Door to an Integrated Healthcare Experience The Aster Health app has clocked over 100,000 downloads since its launch in November 2024, marking a milestone in digital convenience. In Kerala, a key market for Aster, we launched the Malayalam version, becoming the state’s first regional language healthcare super app. Aster Digitizing Relationships, Personalizing Experiences, Powering Growth Live: 8 Hospitals Updates Updates Aster Digital Health won ‘Most Impactful Digital Transformation in Healthcare’ at Elets Technomedia Healthcare Innovation Awards 2025 47
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48 Awarded for Excellence in CSR in the National Category (1st Runner up) by ASSOCHAM ESG Milestones* E S G Waste reduction is achieved in FY25,, i.e. 18% from the previous year Reduction in Water consumption in FY25 i.e.~ 0.6% from previous year Energy Consumption sourced from renewable (solar & wind) energy at Aster CMI and RV, Bangalore INR 3.3 Mn~8,681 tCO2e 16,100+ Worth of reduction in Annual Paper Usage across all Aster facilities, i.e. 2.4% from the previous year Trees Planted in FY25 51 No. of People of determination in workforce in India 6,022 Free Medical camps conducted through the network of Aster Volunteers Mobile Medical Services (AVMMS) 7,047 Patients from economical poor background benefitted through Free/discounted surgeries worth of INR 5.74 crore 7,23,642 Beneficiaries of the Aster Volunteers Community engagement initiatives during FY25 25% 15 Women representation in Board of Directors Policies supporting Governance framework including ESG Policy, CSR policy, Business Responsibility policy, etc Employees participated for cyber security awareness program through a game- based learning methodology 3,200+ Mobile Medical services in India offering free health screening services in the regions where healthcare is least accessible 34 5 ~577 ton 97%+~7,414 KL Reduction in Carbon emission in FY25 through renewable energy resources 100% Resolution of reported whistleblowing cases Standalone Tele Medicine Centers (AVCMS) in Rajasthan, J&K, Karnataka and Gujarat 50% of the Board of Directors comprises Independent Directors 2,732 Employees participated in a week-long training program under a new initiative for adhering to our code of conduct *All numbers are based on FY25 48
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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 224 158 157 Other Reserves 2,469 897 719 Land Revaluation Reserve 460 460 460 Gross Debt 642 669 597 Lease Liabilities - INDAS116 1,376 714 533 Other non-current liabilities 690 581 507 Other current liabilities 246 429 414 Total Liabilities 6,607 4,409 3,887 ASSETS Property, Plant and Equipment (including CWIP) 2,694 2,487 2,185 Investments (including Goodwill) 508 264 259 Right to Use Assets - INDAS116 1,255 608 420 Inventories 93 111 99 Cash, Bank Balance and Current Investments 1,381 114 87 Other non-current assets 247 285 297 Other current assets 429 541 540 Total Assets 6,607 4,409 3,887 Key financial ratios FY25 FY24 FY23 Net Debt and Lease Liabilities/Equity ratio (x times) (Ex. Affinity) 0.2 0.6 0.5 Net Debt and Lease Liabilities/EBITDA ratio (x times) 0.8 2.2 2.3 Net Debt /EBITDA (Pre INDAS) ratio (x times) -1.1 1.1 1.3 ROCE - Pre-Tax (%) (EBIT / Average Capital Employed) 19.5% 16.4% 13.4% 49
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Thank You Investor Relations: investors@asterdmhealthcare.in