Aster DM Healthcare Limited

Azad Moopen

Chairman & Managing Director

Alisha Moopen

Deputy Managing Director

T J Wilson

Non-Executive Director

Sreenath Reddy

Group Chief Financial Officer

Amitabh Johri

Chief Financial Officer, GCC

Sunil Kumar M R

Head of Finance, India

Saurabh Paliwal

Head, Investor Relations

Rs. 2,662 crore

ited – FY23 Q1 Earnings Conference Call At a consolidated level, we posted a revenue of Rs. 2,662 crore which is an increase of 12% when compared with the same period, last financial year. EBITDA gre

12%

At a consolidated level, we posted a revenue of Rs. 2,662 crore which is an increase of 12% when compared with the same period, last financial year. EBITDA grew only 4% to Rs. 292 crore whe

4%

is an increase of 12% when compared with the same period, last financial year. EBITDA grew only 4% to Rs. 292 crore when compared to Rs. 281 crore in Q1 FY22. EBITDA growth was impacted due to los

Rs. 292 crore

increase of 12% when compared with the same period, last financial year. EBITDA grew only 4% to Rs. 292 crore when compared to Rs. 281 crore in Q1 FY22. EBITDA growth was impacted due to losses of Rs. 20 cro

Rs. 281 crore

with the same period, last financial year. EBITDA grew only 4% to Rs. 292 crore when compared to Rs. 281 crore in Q1 FY22. EBITDA growth was impacted due to losses of Rs. 20 crore from commissioning of new

Rs. 20 crore

292 crore when compared to Rs. 281 crore in Q1 FY22. EBITDA growth was impacted due to losses of Rs. 20 crore from commissioning of new hospitals in GCC and India. Profit after tax (post-NCI) stands at Rs.

Rs. 69 crore

ore from commissioning of new hospitals in GCC and India. Profit after tax (post-NCI) stands at Rs. 69 crore when compared to Rs. 44 crore with Q1 FY22, a growth of 54%. Profit After Tax (post-NCI) excludin

Rs. 44 crore

w hospitals in GCC and India. Profit after tax (post-NCI) stands at Rs. 69 crore when compared to Rs. 44 crore with Q1 FY22, a growth of 54%. Profit After Tax (post-NCI) excluding impact of commissioning of n

54%

ter tax (post-NCI) stands at Rs. 69 crore when compared to Rs. 44 crore with Q1 FY22, a growth of 54%. Profit After Tax (post-NCI) excluding impact of commissioning of new hospitals and one-time othe

Rs. 77 crore

er Tax (post-NCI) excluding impact of commissioning of new hospitals and one-time other income is Rs. 77 crore, a healthy growth of 74 %. With respect to the GCC business, revenue grew 10% year-over-year to R

74 %

of commissioning of new hospitals and one-time other income is Rs. 77 crore, a healthy growth of 74 %. With respect to the GCC business, revenue grew 10% year-over-year to Rs. 2,011 crore with EBIT

10%

ncome is Rs. 77 crore, a healthy growth of 74 %. With respect to the GCC business, revenue grew 10% year-over-year to Rs. 2,011 crore with EBITDA of Rs. 208 crore as compared to Rs. 210 crore in th

“We will call out your name, after which your line will be unmuted, and you will be able to ask your question.”

“As stated earlier, we are looking at more of such opportunities in various parts of India and we hope to announce some of these in coming quarters.”

“While the hospital is planned to be ultimately a 550-bed facility, the first phase shall be a capacity of 350 beds and is expected to be operational by FY26.”

“We had brought 6.5 acres of land 5 years back and the project was kept on hold due to COVID.”

“We see a huge demand supply gap in Trivandrum and expect an early breakeven of this project, in about a year after inauguration, like what we did at Kannur.”

“We have now got the permissions and we hope to inaugurate this soon.”

“Appropriate announcements and public disclosures in accordance with the Listing Regulations and other applicable laws will be made as and when required, in this regard.”

“These will be low capex but will help us harness the Healthcare Ecosystem better.”

“We actually aim to aim for marketing to be driven from end of August and the numbers are expected to scale quite significantly.”

“At this moment, we are running live load tests and refining the system responses to ensure that the platform continues to remain stable at higher loads that we expect post marketing.”

Dr. Azad Moopen

30

Saurabh Paliwal

15

Sreenath Reddy

13

Alisha Moopen

12

Alankar Garude

11

Sunil Kumar M R

8

Harith Ahamed

8

Mehul Sheth

8

Shyam Srinivasan

8

Manish Bandari

7

Saurabh Paliwal

Good morning, everyone. My name is Saurabh Paliwal, and I welcome you to Aster DM Healthcare's earnings conference call for the first quarter of Financial Year 23. The company declared the Q1 FY23 results last evening. I hope you've got a chance to review them, along with other materials, which were posted on the stock exchanges and also uploaded on the company website. Today, to discuss the quarterly business performance and the future business outlook, we have the senior management at Aster DM Healthcare available with us. It includes Dr. Azad Moopen, Chairman and Managing Director; Ms. Alisha Moopen, Deputy Managing Director; Mr. T.J. Wilson, Non-Executive Director; Mr. Sreenath Reddy, Group Chief Financial Officer; Mr. Amitabh Johri, Chief Financial Officer for GCC and Mr. Sunil Kumar, Head of Finance for India. I would like to remind everyone about how we will conduct this call. All external attendees will be in the listen-only mode for the duration of the entire call. We will sta

Dr. Azad Moopen

Sorry about that. There was some technical issue. Good morning, everyone. Thank you all for joining us for our earnings call for the first quarter of FY23. I hope and pray that all is well with all of you and your families. As the summer vacations conclude in India and other parts of the world, I hope most of you, were able to take a break this summer. The world has now reached a stage where COVID cases continue to be there, but we now consider it to be a part and parcel of our lives, exercising necessary safety precautions. The Ukraine conflict continues and along with it, high-energy prices and Taiwan standoff between USA and China. We also continue to battle high inflation with global central banks responding by increasing interest rates, thereby dampening growth prospects. However, we are happy that the scenario in our key markets in India and Dubai seems to be much better with strong growth prospects. GCC, from where we derive majority of our revenue has the benefit of spiraling o

Status of Restructuring

The process is going on. The Board of Directors have provided their approval for appointment of the bankers to explore potential restructuring options which present an opportunity to unlock value for the Company and its stakeholders and provide further update to the Board in relation to further steps to be taken in this regard. Appropriate announcements and public disclosures in accordance with the Listing Regulations and other applicable laws will be made as and when required, in this regard. I now request the Deputy Managing Director, Alisha Moopen, to elaborate on the GCC business, the Digital Transformation and other strategic initiatives undertaken by Aster. Thank you very much.

Alisha Moopen

Thank you, Chairman. Good morning, everyone. Just like Chairman mentioned, we are in stage where COVID has now become a part and parcel of our lives with normal life and business moving in full swing and so is Aster. As Chairman mentioned again, we have two of our new hospitals which we had put on hold during COVID; now we have begun the commissioning. The Aster Sharjah, which is a 101-bed hospital has opened up with a soft launch during Q1 and Aster Royal Hospital in Oman with 145 beds is expected to have the soft launch end of this month since we got the regulatory approval. We are excited to get them operational in Q2 of this year as we expand our footprint in GCC. Revenues at GCC saw a return towards normalcy. This period of Q1 marked by both the Ramadan Break as well as the Eid Holidays and there is also the Aster DM Healthcare Limited – FY23 Q1 Earnings Conference Call sad demise of the ruler of UAE which had some extended mourning period as well. So, the combination of all of th

Sreenath Reddy

Thank you, Alisha. Good morning, everyone. On a consolidated basis, our revenue from operations for the quarter has increased by 12% to Rs. 2,662 crores year-on-year. India revenues have increased to Rs. 651 crores, up 18% year-on-year from Rs. 550 crores. The revenue growth excluding COVID vaccination in India was 26%. Revenue from our GCC operations was Rs. 2,011 crores, an increase of 10% year-on-year whereas the revenue growth excluding COVID testing was 18% YoY. Consolidated EBITDA for the quarter was at Rs. 292 crores, an increase of 4% year-on-year. However, if you exclude the losses of new hospitals not present in FY22 Q1, namely Aster Hospital Sharjah, Aster Hospital Sonapur and Aster Mother Hospital Areekode, the EBITDA growth will be 11%. EBITDA from India operations was Rs. 84 crores, a growth of 18% Y-o-Y. EBITDA from GCC operations stands at Rs. 208 crores, a decrease of 1% Y-o- Y. Excluding losses of new hospitals in GCC amounting to Rs. 16 crores, the EBITDA growth will

Saurabh Paliwal

Thank you Sreenath. Anybody who wants to a ask question, please use the ‘raise hand’ icon at the bottom of the Zoom application. We will wait a Aster DM Healthcare Limited – FY23 Q1 Earnings Conference Call moment for the line to assemble and then take the question one by one. The first question is from Nikhil Chandak. You may please unmute your line and ask a question.