CORONA
CORONA Remedies share price & financials
- Price
- ₹2,062.2
- Market cap
- ₹12.9k Cr
- Sector
- Healthcare
- Calls analysed
- 4
CORONA Remedies Limited Q1 FY27
What went well
- Revenue for Q1 FY27 stood at INR422 crores, reflecting a healthy growth of 21.9% Y-o-Y, surpassing the stated growth guidance of 15%.
- India business delivered an impressive 22.7% year-on-year revenue growth in Q1 FY27, significantly outperforming the Indian Pharmaceutical Market which grew by 11.6%.
- EBITDA stood at INR93 crores, a growth of 33.5% Y-o-Y, with EBITDA margin improving by around 190 bps and standing at 22%.
What to watch
- Potential 100 basis point hit on gross margins in Q2 FY27 due to geopolitical raw material price disturbance.
- The new hormonal facility's asset turnover is expected to be less than one in FY27, with a gradual ramp-up to two to three times over the next three years.
What CORONA Remedies Limited does
CORONA Remedies is an India-centric branded pharmaceutical formulations company, founded in 2004 and headquartered in Ahmedabad, Gujarat. It develops, manufactures and markets prescription medicines concentrated in chronic and sub-chronic therapy areas — women's healthcare, cardio-diabetes, pain management and urology — marketed mainly to specialist and super-specialist doctors across urban and semi-urban India through its own field force. Revenue is earned overwhelmingly from domestic branded-formulation sales, supplemented by exports to select overseas regulated markets. Manufacturing runs out of two GMP-certified plants in Gujarat and Himachal Pradesh, backed by in-house DSIR-approved R&D facilities, and the brand portfolio has been expanded over the years through in-licensing deals and acquisitions of brands from multinational pharma companies.
- Total employees
- 5,686 (incl. 111 R&D personnel)
- Manufacturing facilities
- 2 (Bhayla, Gujarat and Solan, Himachal Pradesh)
- Installed formulation capacity
- ~1.65 Bn tablets/capsules, 20 Mn sachets, 10 Mn liquid bottles p.a.
- Field force strength
- 4,077
- Brand portfolio
- 76 brands, incl. 32 "Engine" brands
- R&D centres
- 2 DSIR-approved facilities (co-located with plants)
Guidance record · Q1 FY27
what the last two calls moved 20 tracked 1 delivered 0 missed 19 open- Dedicated Infertility Sales Team delivered said Q2 FY26 Promised: Launch a separate team for infertility... a specialized team of about less than 50 people across the nation within a few months. Q1 FY27: The IVF task force, which started in April 2026, is confirmed to be operational and generating business. Management asks for 2-3 more quarters to provide more details.
- R&D Spend as % of Revenue at risk said Q2 FY26 Promised: That percentage will remain less than 2%. Q1 FY27: No specific mention of R&D spend as a percentage of revenue. Strong EBITDA margin improvement to 22% suggests overall cost control, but the specific metric was not addressed.
- International Business Revenue Share delayed said Q2 FY26 Promised: In a couple of years, we can have a CI of around eight, nine percent higher single-digit CI with international business. Q1 FY27: Management reiterated the target of 'higher single-digit' contribution, but extended the timeline to 'three to four years' from now. Current contribution is ~3%.
All 20 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 21.6%, net profit up 30.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 314 | 298 | 294 | 347 | 361 +15% | 342 +15% | 353 +20% | 422 +22% |
| EBITDA | 67 | 69 | 54 | 70 | 78 +16% | 83 +20% | 62 +15% | 93 +33% |
| Net profit | 43 | 45 | 31 | 46 | 52 +21% | 41 −9% | 45 +45% | 60 +30% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +59.4% YTD
YTD: ₹1,402.4 on 1 Jan 2026 → ₹2,236.1. High ₹2,236.1 (11 Sept 2026), low ₹1,388.3 (21 Jan 2026).
How the price took the results
close before → close after
- Q1 FY27
- +0.3%
- 3 Aug
- Q4 FY26
- −8.5%
- 12 May
- Q3 FY26
- +2.9%
- 3 Feb
- Q2 FY26
- +1.6%
- 5 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹1.4k Cr |
| Operating profit | ₹293 Cr |
| Operating margin | 20.9% |
| Interest | ₹7 Cr |
| Depreciation | ₹37 Cr |
| Net profit | ₹184 Cr |
| Net margin | 13.1% |
| Cash from operations | ₹229 Cr |
| Free cash flow | ₹56 Cr |
| ROCE | 33.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹51 Cr | ₹61 Cr | ₹61 Cr | ₹61 Cr | ₹61 Cr |
| Reserves | ₹333 Cr | ₹270 Cr | ₹347 Cr | ₹419 Cr | ₹598 Cr | ₹685 Cr |
| Borrowings | ₹50 Cr | ₹34 Cr | ₹28 Cr | ₹159 Cr | ₹63 Cr | ₹165 Cr |
| Other liabilities | ₹144 Cr | ₹157 Cr | ₹159 Cr | ₹191 Cr | ₹254 Cr | ₹293 Cr |
| Total liabilities | ₹532 Cr | ₹511 Cr | ₹595 Cr | ₹830 Cr | ₹977 Cr | ₹1.2k Cr |
| Fixed assets | ₹164 Cr | ₹162 Cr | ₹185 Cr | ₹384 Cr | ₹394 Cr | ₹554 Cr |
| Capital work in progress | ₹0 Cr | ₹14 Cr | ₹65 Cr | ₹121 Cr | ₹205 Cr | ₹143 Cr |
| Investments | ₹37 Cr | ₹14 Cr | ₹31 Cr | ₹25 Cr | ₹0 Cr | ₹25 Cr |
| Other assets | ₹330 Cr | ₹321 Cr | ₹314 Cr | ₹301 Cr | ₹378 Cr | ₹482 Cr |
| Total assets | ₹532 Cr | ₹511 Cr | ₹595 Cr | ₹830 Cr | ₹977 Cr | ₹1.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Dec 2025, the public trimmed −7.94 pp while DIIs added +6.13 pp. The shareholder count shrank 35% to 20,185.
- Promoters
- 69.0%
- FIIs
- 3.6%
- DIIs
- 12.9%
- Public
- 14.5%
Since Dec 2025
- Public −7.94 pp
- DIIs +6.13 pp
- FIIs +1.79 pp
How it drifted, 3 quarters
Over this window the public fell from 22.4% to 14.5% — −7.9 pp.
Ownership split by quarter, oldest first. Dec '25: Promoters 69.0%, FIIs 1.8%, DIIs 6.8%, Public 22.4%.Mar '26: Promoters 69.0%, FIIs 2.3%, DIIs 7.0%, Public 21.8%.Jun '26: Promoters 69.0%, FIIs 3.6%, DIIs 12.9%, Public 14.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- HDFC Trustee Company Limited-HDFC Flexi Cap Fund Mutual fund newly disclosed 4.10% held
- Invesco India Small Cap Fund Mutual fund +0.64 pp 5.06% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of CORONA Remedies Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Nirav Kirtikumar Mehta | 22.00% | unchanged |
| Ankurbhai K Mehta | 22.00% | unchanged |
| Kirtikumar Laxmidas Mehta | 20.00% | unchanged |
| Sepia Investments Limited | 12.68% | −7.08 pp |
| Invesco India Small Cap Fund Mutual fund | 5.06% | +0.64 pp |
| HDFC Trustee Company Limited-HDFC Flexi Cap Fund Mutual fund | 4.10% | newly disclosed |
| Brinda Ankur Mehta | 2.00% | unchanged |
| Dipaben Niravkumar Mehta | 2.00% | unchanged |
| Minaxi Kirtikumar Mehta | 1.00% | unchanged |
| Nemish Harilal Shah | 0.00% | unchanged |
| Ketan Harilal Shah | 0.00% | unchanged |
| Yogeshbhai Harilal Shah | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in CORONA
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹526 Cr
- 2 schemes
- Biggest holder
- HDFC Flexi Cap Fund
- ₹490 Cr · 0.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹490 Cr | held | Jun '26 |
| HDFC Pharma and Healthcare Fund HDFC Mutual Fund | ₹36 Cr | held | Jun '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +5%
- vs est. average cost
- Held by funds
- ₹526 Cr
- 2 schemes · ≈ 4.0% of the company
- Biggest holder
- HDFC Flexi Cap Fund
- ₹490 Cr · 0.4% of that fund
Shares held by these funds +769%
Dec '25 25.07 L shares Jul '26
What the price assumes
- Growth the price implies
- 36.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse CORONA Remedies Limited
Guides on how to read this kind of business and the numbers that matter.