Does age matter in working if the person is physcially well, has good exposure to industry, and can contribute a lot to the growth of the company?

Not at all. after all the persons health, experience really counts

Yes, for certain positions, the specification demand for certain age. I do second that physical health is an important factor but age to matter.

If the candidate shows enough knowledge and practical know-how in the field of his expertise, and also has his/her own views and contributions that would prove beneficial to the company in the competitive front, I don't see any particular reason why the numericals of age should be a factor.