Corona Remedies Ltd| Statement of Standalone Financial Results for the Quarter and Year Ended 31 March 2026

⬤11th May 26

Summary : Corona Remedies reports strong FY26 revenue and PAT growth driven by strategic acquisitions, portfolio expansion, and operational efficiencies, despite new Labour Code impacts.

Quarterly Report Analysis & Insights

Financial Disclosures

Total expenses: ₹1,154.58 Cr (FY26), ₹1,004.20 Cr (FY25).
Employee benefits expense: ₹403.02 Cr (FY26), ₹346.14 Cr (FY25).
Other expenses: ₹445.78 Cr (FY26), ₹373.78 Cr (FY25).
Revenue from operations: ₹1,403.18 Cr (FY26), ₹1,196.42 Cr (FY25).
Other income: ₹10.65 Cr (FY26), ₹5.93 Cr (FY25).
Net cash from operating activities: ₹229.48 Cr (FY26), ₹190.49 Cr (FY25).
Net cash used in investing activities: (₹256.15) Cr (FY26), (₹83.86) Cr (FY25).
Net cash from financing activities: ₹25.28 Cr (FY26), (₹106.57) Cr (FY25).
Total Assets: ₹1,204.25 Cr (FY26), ₹929.24 Cr (FY25).
Total Equity: ₹745.97 Cr (FY26), ₹605.72 Cr (FY25).
Non-current liabilities: ₹97.11 Cr (FY26), ₹83.93 Cr (FY25).
Current liabilities: ₹361.17 Cr (FY26), ₹239.59 Cr (FY25).
Dr. Kirtikumar Mehta (Chairman) is father of MD & CEO and JMD.
Both Standalone and Consolidated Financial Results are presented.

Corporate Overview

India-focused operations.
EAEU-GMP certification enables entry into Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan markets.
One-time statutory impact from new Labour Codes.
Incremental impact on gratuity and compensated absences.
India-focused pharmaceutical company.
Engaged in developing, manufacturing, marketing products.
Key therapeutic areas: women's healthcare, cardio-diabetes, pain management, urology.
FY26 was a strong year with consistent revenue growth.
Enhanced operational efficiency noted.
Strategic focus on brand building and specialty segments.
Acquisitions strengthen competitive positioning.
Well-positioned for sustainable growth in coming years.
Only one reportable business segment: Pharmaceuticals.
Operates WHO-GMP/EU GMP-certified manufacturing facilities.
Maintains DSIR-approved R&D centers for innovation.
Acquired WOKADINE, entering Povidone Iodine market.
Relaunched key brands: Fostine R, Menodac, Noklot.
Established dedicated team for Infertility segment focus.
EAEU-GMP certification for international market entry.

Risk Factors

Impact of new Labour Codes.
Future regulatory changes possible.
Intense pharmaceutical market competition.
Dependency on key therapeutic areas.

Key Drivers

Strong revenue and PAT growth.
Strategic WOKADINE acquisition completed.
Portfolio expansion, brand relaunch.
Improved industry ranking achieved.

Auditor’s Report

Unmodified opinion on Standalone Financial Results.
Unmodified opinion on Consolidated Financial Results.

Board Commentary

Appointment of M/s. Walker Chandiok & Co LLP as Statutory Auditor.
Re-appointment of M/s. Dhara Patel as Secretarial Auditor.
Appointment of M/s. Shah & Shah Associates as Internal Auditor.
Re-appointment of M/s. Manish B. Analkat as Cost Auditor.
Re-appointment of Dr. Kirtikumar Mehta as Non-Executive Director and Chairman.
Recommended final dividend of ₹10/- (100%) per equity share.
Record date for dividend fixed as June 19, 2026.
Dividend payable on or before August 07, 2026.
Statutory impact of new Labour Codes, specifically on gratuity and long-term compensated absences.
One-time impact of new Labour Codes (consolidating 29 laws).
Financial impact of ₹19.10 crores (post-tax ₹14.29 crores) as exceptional item.
Payment for property, plant, equipment, intangible assets: ₹174.14 Crores (FY26).

Corporate Governance

Non-Executive Chairman is related to MD & CEO and JMD.
Audit Committee.
Nomination and Remuneration Committee.

Management Discussion & Analysis

Future Strategy

Strategic focus on brand building.
Targeting specialty segments like biosimilars and infertility.
Portfolio expansion through acquisitions.
Leveraging global accreditations for sustainable growth.

Operational Focus Areas

Focused brand-building initiatives.
Cost optimization and operating leverage.
Portfolio expansion and brand relaunch.
R&D excellence and EAEU-GMP certification.

Performance Drivers

Strong brand-building initiatives.
Portfolio expansion efforts.
Operational efficiencies and cost optimization.
Operating leverage contributed to margin growth.

Risk Control Measures

Monitoring finalisation of Central/State Rules.
Will provide appropriate accounting effect as needed.

Critical Risks

Statutory impact from new Labour Codes.
Changes in wage definition affecting gratuity and leave.