Aster DMMotilal OswalHospitalEBITDATarget Price
Aster DM Quality Care Q4 EBITDA Rises ₹2,910 Cr, Motilal Oswal Target ₹1,110
Published: September 28, 2026
Aster DM Quality Care’s Q4 EBITDA is projected at ₹2,910 crore, prompting Motilal Oswal to lift the target to ₹1,110, a 46% upside. Shares fell 1.4% to ₹748.45 as investors digest the new outlook.
Aster DM Quality Care Ltd. saw its shares dip 1.4% to ₹748.45 after Motilal Oswal lifted the target to ₹1,110, citing a projected Q4 EBITDA of ₹2,910 crore, a 46% upside from the current market price.
The projection follows the integration of QCIL, forming India’s largest hospital platform with 39 hospitals and 10,600 beds across 28 cities, aiming to exceed 15,000 beds by FY2030 via a balanced brownfield‑greenfield strategy.
FY25 and FY26 revenue are expected to climb to ₹4,100 crore and ₹4,600 crore, while margins expanded 300 basis points and 90 basis points respectively, underscoring a growth‑plus‑margin trajectory.
Motilal Oswal forecasts a 19.5% CAGR in revenue, 25% EBITDA, and 33% PAT for FY26‑29, translating into a 30× EV/EBITDA multiple and a target of ₹1,110, while a bear case sees a 25× multiple and a ₹700 target.
With 13 of 15 analysts issuing buy ratings, the stock remains a 23% year‑to‑date gainer, but investors will watch the June quarter results and the speed of synergy realization to gauge the 46% upside claim.
The company will report its June quarter earnings on October 12, and management has signaled a focus on procurement, cost synergies and occupancy rates to support the projected upside.