Analysts/Institutional Investor Meet/Con. Call Updates

12 August 2026 BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai 400001, Bandra (East), Mumbai 400051, Maharashtra, India Maharashtra, India Scrip Code: 540975 Scrip Symbol: ASTERDM Dear Sir / Madam, Sub: Transcript of Earnings Conference Call for the quarter ended 30 June 2026 Reg: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 This is in furtherance to our letter dated 5 August 2026, wherein the Company submitted the link to the video recording of the earnings conference call held with regard to the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, please find enclosed herewith the transcript of the said earnings conference call. The same is also being uploaded on Company’s website at https://www.asterqualitycare.com/investors/financial-information/quarterly-reports/earnings-call- transcripts-recordings Kindly take the above-said information on record. Thanking you, For Aster DM Quality Care Limited (Formerly Aster DM Healthcare Limited) Hemish Purushottam Company Secretary and Compliance Officer M. No.: A24331 Q1 FY27 Earnings Conference Call August 5, 2026 Management: Dr Azad Moopen – Executive Chairman Ms. Alisha Moopen – Deputy Managing Director Mr. Varun Khanna – MD & Group CEO Mr. Sunil Kumar M R – Group Chief Financial Officer Moderator: Mr. Puneet Maheshwari – Lead - Investor Relations Puneet Maheshwari: Good evening, ladies and gentlemen, and a warm welcome to everyone joining us today for the inaugural earnings conference call of Aster DM Quality Care Limited for the first quarter ended June 30, 2026. Today marks an exciting step forward as we bring together two healthcare leaders into a unified platform. To discuss our operational and financial performance for Q1 FY27, we are joined today by the senior management team of Aster DM Quality Care: • Dr. Azad Moopen – Executive Chairman • Ms. Alisha Moopen – Executive Director • Mr. Varun Khanna – MD and Group CEO • Mr. Sunil Kumar M R – Group Chief Financial Officer Before we begin, I would like to remind everyone that some statements made on today's call may be forward-looking in nature and are subject to risks and uncertainties. I would now like to request our Executive Chairman, Dr. Azad Moopen, to share his opening remarks. Over to you, Sir. Dr Azad Moopen: Good evening and a very warm welcome to everyone. I am truly delighted to welcome you to this important day, a milestone we have been working towards for nearly two years. I want to express my deep appreciation to Blackstone, our dedicated team, our MD Varun Khanna, Alisha, Wilson, Sunil, and everyone who has worked tirelessly to make this happen. Today, as a unified entity, we stand proudly with around 39 hospitals and a passionate team of about 45,000 healthcare professionals, including over 7,000 doctors. I am extremely happy to see this vision become a reality. Now, I would like to hand over the floor to Alisha to take us forward. Thank you, and please go ahead, Alisha. Alisha Moopen: Thank you so much, Chairman. Good evening, everyone. A very warm welcome to all of you. I'm also delighted to address you on this very historic milestone as we celebrate the foundation and our first call as Aster DM Quality Care Ltd. By combining Aster's legacy of physician-led, as Chairman was mentioning, patient-centric care with Blackstone's institutional strength, we have built a very, very powerful platform. The overwhelming support from our shareholders underscores our strong confidence in our strategic direction and long-term value creation. As we unite, our overarching priority is elevating the standard of clinical excellence and standardizing best practices across every single bed in our network. We are approaching this in three distinct ways: • First, scaling super-specialty care: We are deepening our capabilities in high-acuity domains like Oncology, Neurosciences, Cardiac Sciences, and Transplants bringing complex care closer to home for millions. • Second, Medical expanding geographic access: We are actively taking advanced clinical protocols into Tier 2 and Tier 3 markets, ensuring Aster DM Quality Care Limited – Q1FY27 Earnings Conference Call world-class medical talent and advanced technology are accessible to our patients' doorsteps without requiring long-distance travel. • And third, driving patient-centric innovation: By integrating digital health platforms and modern care delivery models, we are focused on improving clinical outcomes and enhancing the patient experience across the entire care continuum. So, how do we move forward and keeping our core strong in terms of really bringing the best of ethical excellence and patient-centric care is really our focus. With that, I will hand over to Varun Khanna, the Managing Director and Group CEO, to address all of you, please. Varun Khanna: Good evening and thank you for joining us today. We are delighted to address you for the very first time as Aster DM Quality Care Limited. Today, we come to you as one unified healthcare champion across India. In this new chapter we are committed to keeping our core and value system unchanged, with continued focus on patient care, enabling doctors and hospital operations through technology, and best-in-class clinical outcomes. The merger between Aster DM Healthcare and Quality Care is much more than a combination of assets. It brings together talented teams, strong clinical franchises, and a complementary network under a single vision. With an expanded footprint, a diversified portfolio, and significant opportunities for operational and clinical synergies, we believe the combined entity is uniquely positioned to deepen the access to high- quality care across India while creating long-term stakeholder value. On July 1, we marked this milestone with our enterprise-wide #GOGREATER celebration. We brought together over 45,000 people across our network including doctors, nurses, paramedical workers and employees to drive enterprise-wide alignment around our core cultural tenets of One Team, Excellence and Accountability. Across all the sites, we achieved zero operational friction and zero service disruption while executing cultural integration programmes driving employee engagement, shared behaviors & long-term integration success. Before diving into our Q1 numbers, I want to clearly articulate our framework for value creation and the core strategic priorities that will drive our growth going forward. • Network Expansion • Clinical Excellence • Service Excellence driven through digital enablement, and an effective and empowered team. Turning now to our financial and operational performance for Q1 FY27. Considering that the merger became effective on July 1, 2026, the numbers pertaining to the combined entity are on proforma basis. • Q1FY27 delivered strong overall momentum. Revenue from Aster DM Quality Care Limited – Q1FY27 Earnings Conference Call operations increased 20% year-on-year to INR 2,597 crores. EBITDA grew 30% YoY to INR 576 crores. The EBITDA Margin expanded by 170 bps YoY to 22.2%. • Revenue growth was driven by higher patient volumes supported by higher realizations driven by an increasingly complex case mix. We treated over 2 million patients in Q1, up 13% YoY, with blended occupancy expanding 510 bps YoY to 64%. This was supported by 62% YoY growth in Medical Value Travel (MVT) revenue on account of addition of new geographies. • EBITDA growth outpaced revenue growth, unlocking operating leverage through material cost savings and stronger fixed cost absorption. Now, let’s look at the Maturity Cut for us: • Growth across our unit mix remained robust with Mature Units contributing 73% to the total revenue recorded 19% YoY revenue growth, driven by steady bed throughput, higher ARPP IP driven by improved case mix, better Payor mix and higher MVT contributi [Showing first 8,000 characters — download PDF for full document]