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Revenue
₹353 Cr
verified against source
Revenue YoY
17.3%
reported change
EBITDA
₹293 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Corona Remedies delivered a strong FY26, with revenue of ₹1,403 Cr (+17.3% YoY) and PAT of ₹199 Cr (+33.4% YoY), exceeding guided ranges. EBITDA margin expanded 80bps to 20.9%, driven by favorable product mix and operating leverage. Domestic business grew 16.8%, while international surged 29.5%. Chronic segment now contributes 72% of revenue. Two brands crossed ₹100 Cr, and eight are in the ₹50-100 Cr club. Management guided for 15% organic revenue growth and 20%+ PAT growth in FY27, supported by new divisions (infertility, multispecialty), biosimilar launches (semaglutide), and acquisitions (Wokadin, Bayer portfolio). Key risk: potential gross margin pressure from rising API costs if geopolitical tensions persist.
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Guidance to track
- Management expects to sustain 15%+ revenue growth organically for FY27.
- Acquired brands (Wokadin, Bayer portfolio) are expected to grow at 25% in FY27.
- Management guided for 20%+ PAT growth in FY27.
- The dedicated hormone manufacturing plant is expected to become operational in Q1 or Q2 of FY27.
Risks flagged
- Geopolitical tensions may increase API prices, impacting gross margins. Management noted indirect impact but expects to manage within 80% gross margin band.
- Wokadin acquisition may cause ~400bps gross margin correction in first year due to NLEM portfolio. Management expects 25% revenue growth but margin recovery uncertain.
- New infertility and multispecialty divisions, plus biosimilar launches, require ramp-up time. PCPM for new hires takes 3+ years to mature.
Key quotes
- We expect to sustain 15% plus revenue growth organically and 25% revenue growth in acquired brand with 20% plus PAT growth in FY27.
- Our revenue growth in FY26 was driven by a 3% increase in volumes significantly outpacing the IPM of 0.7% volume growth by nearly 4.6 times.
- Semaglutide brings a new dimension to the diabetic market as well as obesity market and generic semaglutide market has been exciting for sure.
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