Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

2025 High Conviction Update: Aster DM (ASTERDM IN)- Starts FY26 On High Note; Announces New Hospital

2025 High Conviction Update: Aster DM (ASTERDM IN)- Stable Q2 Show on Continued Business Recovery

2025 High Conviction: Aster DM Healthcare Ltd (ASTERDM IN)- Focus on India Augurs Well

2025 High Conviction Update: Aster DM Healthcare (ASTERDM IN) Q3 Result- Margin Expansion Continues

Equity Bottom-Up

Aster DM Healthcare Ltd / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/aster-dm-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:23662:1" rel="noopener">Aster DM Healthcare Ltd (ASTERDM IN)</a> reported 4% revenue decline in Kerala due to festivities, lower international patient, and leadership transition. Ramadan impact caused 2.5–3.0% of the revenue hit.</li>
<li>Going ahead, the company is eyeing for atleast mid-teens growth from Kerala cluster, with 7–8% will be with volumes and balance 7–8% will come from the ARPOB.  </li>
<li>Aster’s base business is on a stable growth path. Margin levers are intact. With QCIL merger synergies, the company aims for EBITDA margin of 23–24% in 3–4 years.</li>
</ul>



Aster DM Healthcare Ltd (ASTERDM IN) reported 4% revenue decline in Kerala due to festivities, lower international patient, and leadership transition. Ramadan impact caused 2.5–3.0% of the revenue hit.
Going ahead, the company is eyeing for atleast mid-teens growth from Kerala cluster, with 7–8% will be with volumes and balance 7–8% will come from the ARPOB.  
Aster’s base business is on a stable growth path. Margin levers are intact. With QCIL merger synergies, the company aims for EBITDA margin of 23–24% in 3–4 years.


2025 High Conviction Update: Aster DM(ASTERDM IN)-Occupancy to Recover; Margin Improvement Continues