Aster DM Healthcare announced that the Board of Directors of the Company at its meeting held on 12 April 2024, inter alia, have recommended the special dividend of Rs 118 per equity Share (i.e. 1180%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Aster DM Healthcare will hold a meeting of the Board of Directors of the Company on 12 April 2024.Powered by Capital Market - Live News

Aster DM Healthcare announced the completion of the separation of its India and GCC businesses. Under the separation plan, a consortium of investors led by Fajr Capital, a sovereign backed private equity firm, has acquired a 65% stake in Aster GCC, with the Moopen family retaining a 35% stake alongside management and operational rights. In the Indian operations, the Moopen family continues to hold the 41.88% stake. The transaction has now concluded and pursuant to which Affinity Holdings (a wholly subsidiary of the Company) has received a cash consideration of USD 907.6M.In November 2023, the Company obtained board approvals to separate its GCC and India businesses to establish two distinct regional healthcare champions that will benefit from the strategic and financial flexibility to meet the priorities of patients and focus on the growing demand in their respective markets. The separation plan was also approved by the Company`s shareholders in January 2024. The transaction was subject to customary regulatory approvals, contractual approvals and closing conditions, all of which have been satisfied and concluded.The Company plans to add 1700 beds by FY27 through the organic route and will further look for expansion through the inorganic route as well to be among the top 3 hospital chains in India. The expansion plan will encompass a mix of brownfield and greenfield projects, encompassing the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company will also be looking at potential markets such as Maharashtra and Uttar Pradesh. The capital allocation for this expansion is in the range of 1000 crore. The Company as communicated earlier intends to consider distributing 70-80 percent of the transaction proceeds as dividends to its shareholders in the range of Rs 110 to Rs 120 per share and anticipates distributing the dividend, post obtaining required approvals. Powered by Capital Market - Live News

Net profit of Aster DM Healthcare rose 28.57% to Rs 179.21 crore in the quarter ended December 2023 as against Rs 139.39 crore during the previous quarter ended December 2022. Sales rose 16.24% to Rs 3710.61 crore in the quarter ended December 2023 as against Rs 3192.14 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales3710.613192.14 16 OPM %14.9814.06 - PBDT465.00370.95 25 PBT233.46173.44 35 NP179.21139.39 29 Powered by Capital Market - Live News

Aster DM Healthcare has received reaffirmation in credit ratings for total credit facilities of Rs 602 crore as under:- ICRA has reaffirmed the Credit Rating of �[ICRA] A- (pronounced ICRA A minus)` placed on Rating watch with Positive Implications for the long-term facilities of the Company.- ICRA has reaffirmed the Credit Rating of �[ICRA] A2+ (pronounced ICRA A two plus)` placed on Rating watch with Positive Implications for the short-term facilities of the Company.Powered by Capital Market - Live News