Aster DM Healthcare Limited has reported significant operational disruption and financial impact due to a statewide nurse strike affecting its seven hospitals in Kerala. The company disclosed a revenue loss of INR 17,68,74,860 during the period from March 8 to March 13, 2026, in a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.

Strike Details and Impact

The nursing staff strike, led by the United Nurses Association, commenced on March 9, 2026, with demands for revision in wage structures. The strike has resulted in temporary disruption of operations across the company's Kerala facilities, including reduced occupancy levels and skeletal nursing staffing in most units.

Affected Hospital Facilities

The strike has impacted the following hospitals operated by the company in Kerala:

• Aster Medcity Hospital
• Aster MIMS Calicut Hospital, Calicut
• Aster MIMS Kannur Hospital, Kannur
• Aster MIMS Kottakkal Hospital, Kottakkal
• Aster Mother Hospital, Areekode
• Aster PMF Hospital, Kollam

Court Intervention and Relief

The Kerala Private Hospital Association approached the High Court of Kerala at Ernakulam with a writ petition regarding the strike. On March 13, 2026, the Hon'ble High Court issued an order directing the Nurses Association to defer the strike and ensure that members do not abstain from work or engage in any form of strike until March 19, 2026.

Company's Response Measures

Aster DM Healthcare has implemented several contingency measures to maintain patient care continuity:

• Activated internal contingency protocols to ensure critical services
• Mobilized nursing staff from other units in neighboring states like Karnataka
• Maintained critical care operations across affected facilities
• Engaged with industry bodies and hospital associations for resolution

Financial Projections

The company expects operations to resume normal course following the court order, with nurses returning to work. Assuming majority nurses resume operations and matters resolve by March 19, 2026, as instructed by the High Court, the company does not anticipate further losses exceeding INR 5,32,88,649 on account of the nurse strikes. The company has committed to keeping stakeholders informed of any changes in this assessment based on evolving circumstances.

The healthcare provider will continue monitoring developments closely and provide material updates to stock exchanges as required under regulatory obligations.

Aster DM Healthcare Limited has achieved a significant milestone in its proposed merger with Quality Care India Limited, securing overwhelming approval from both shareholders and creditors. The company received 96.68% voting approval from shareholders along with unanimous creditor support during meetings held on March 10, 2026.

Shareholder and Creditor Approval Results

The meetings, conducted through Video Conferencing and Other Audio Visual Means pursuant to Hon'ble National Company Law Tribunal (NCLT) directions, demonstrated strong stakeholder confidence in the strategic merger. The approval reflects broad-based investor support for the share swap preceding the merger.

Meeting Proceedings and Process

The creditors meeting was chaired by Ms. K V S. Madhumita, Advocate, with Mr. Mohit Kumar Goyal, Practicing Company Secretary, serving as the NCLT-appointed scrutinizer. The comprehensive voting process included both remote e-voting from March 6-9, 2026, and electronic voting during the meeting.

Strategic Impact and Combined Entity

Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare, emphasized the strategic value of the merger, stating that the strong shareholder support reflects confidence in the long-term value creation potential. The merger combines Aster's patient-centric care approach with institutional strength and growth expertise. The combined entity will rank among India's top three hospital chains with more than 10,625 beds nationwide.

Regulatory Compliance and Timeline

The company has fulfilled regulatory requirements under the Companies Act, 2013 and SEBI Listing Regulations. The voting results and consolidated scrutinizer's report have been disclosed to stock exchanges pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The merger completion is expected in the next quarter, pending remaining regulatory and statutory NCLT approvals.

The transaction had previously received Competition Commission of India (CCI) and Stock Exchange approvals, marking significant progress in the regulatory approval process for this strategic healthcare sector consolidation.