Aster DM Healthcare has grown from a single doctor clinic to a large healthcare groupspread across 7 countries in Asia witRs 25 hospitals 117 clinics and 238 pharmacies in 33years. While successfully venturing into various opportunities in healthcare Asterleverages its enormous experience and technology-driven approach to bring qualityhealthcare to millions every year delivering the brand promise We'll Treat Youwell"
It is presumed by many that the healthcare sector will remain in focus across the globein coming years . While we hope and pray for that in the last FY when there was minorimpact of Covid
Our revenue from operations grew by 10% to RS 8739 crore in FY 2019-20 compared to RS7963 crore in FY 2018-19.
Our Adjusted PAT stood at RS 296 crore during the year under review. Our GCC operationscontinued to be major contributors to the overall business accounting for 81% of thetotal revenue.
During the year under review apart from the focus on the core areas of hospitalsclinics and pharmacies we diversified our business to enter new segments like laboratoryservices and home care. We have also started the Aster Innovation and Research Centre toidentify innovative solutions. To drive our business forward we continue to adapt toevolving needs to earn the loyalty and trust of our valued patrons.
In our GCC operations we achieved a major milestone when we were granted 100% legalownership of our subsidiaries including hospitals clinics and pharmacies in Dubai due toa new law enacted recently. Major part of our business is now fully owned in GCC andfurther conversion is happening .
Aster also continued its support for the poor and needy in the society through AsterVolunteers. We have been very active in the area of providing medical services to peoplein remote area through the Aster Mobile vans. We have already provided Aster Homes for 100people affected by the floods in Kerala. We are conducting awareness programmes andsupporting people with food kits and medical supplies in the markets that we are presentin.
COVID-19 has further increased the focus on the healthcare sector manifold as it is inthe eye of the storm. We salute our doctors nurses and support staff who have been thefrontline soldiers in the war against the sinister monster .
You can be proud that your company has been actively involved in the testing quarantining and treatment of the people affected by pandemic.
We are witnessing unprecedented times in the history of mankind due to the COVID-19pandemic. During this trying time healthcare providers like us are expected to supportvarious initiatives to prevent the ill-effects of the pandemic and maintain uninterruptedservices to the patients. Being a responsible healthcare organisation we at Aster havebeen at the epicentre of the COVID-19 crisis. Both our key markets Dubai and India havebeen immensely impacted by the pandemic. In India we supported the state governments invarious ways . We have also dedicated significant number of beds across our facilities inIndia for the care and treatment of Covid-19 patients. The new business vertical in IndiaAster Labs a NABL accredited lab received ICMR approval for RT-PCR testing of COVID-19.
In Dubai there has been an overflow of COVID patients from government to privatehealthcare centres. To address this requirement we converted some of our facilities intoCOVID hospitals and partnered with hotels to set-up isolation facilities to be able tocater to rising number of positive cases. We also brought in medical staff trained incritical care from India to aid the local government's efforts to provide quality care toCovid-19 patients. We were also among the first to start Tele-Health Centres for patientconsultations. In fact we could quickly introduce end-to-end solution of telemedicinehome care services lab collection services as well as e-ICU online purchase and deliveryof medication shifting the care model to the homes of patients wherever possible. Weexpect this behaviour to continue and our business models are evolving accordingly.
Amidst a crisis of this scale and nature we have prioritized the health and safety ofour employees. We continued to deliver superior services while encouraging our employeesto work-from-home utilized video conferencing facilities and conducted online courses fornurses and doctors from non-core disciplines for deployment in COVID-19 units. Togetherwe have undertaken all possible measures to fight the virus and emerge as a stronger and abetter entity.
I would like to add that though the situation is volatile we are continuouslymonitoring it and taking adequate initiatives to address the situation through proactivemeasures. The need of the hour is to ensure smooth functioning of our existing businessoperations and focusing on business continuity. We believe that the overall improvement inbusiness will achieve near normalcy by second half of Financial year 2020-21.
Before I conclude I would once again express my heartfelt gratitude and appreciationfor all the doctors and nurses who have been constantly working day in and day out . Iwould also like to thank the Board and the leadership team for their unwavering supportwise counsel and strategic direction as we make steady progress towards our vision tocreate value for all our stakeholders. We are overwhelmed by the support received from ourvalued shareholders employees and other business partners.
Going forward we remain committed to deliver the highest standards of healthcare whilestaying true to our promise - 'We'll Treat You Well.
Dr. Azad Moopen
Founder Chairman and Managing Director