CORONA REMEDIES LIMITED

Sells branded pharmaceutical formulations in the Indian market through a field force of 3,100 medical representatives who visit doctors, supported by chronic and semi-chronic therapy focus that contributed 72% of FY26 revenue. The portfolio includes two brands above INR 100 crore in annual sales and eight brands in the INR 50-100 crore band; therapy mix spans women's health (ranked 5th in Gynaecology), with newer entries in biosimilars (Fostine R, Wyntide, Tyvenza) and Semaglutide for diabetes/obesity. Two acquisitions completed in FY26 — Wokadine (Povidone Iodine, #2 in that segment) for INR 20 crore and a 7-brand portfolio from Bayer Zydus — are being scaled as separate revenue lines. Manufacturing happens at an EU-GMP certified Bhayla, Ahmedabad facility, where a new women's hormone plant (194 million tablets/capsules and 1.5 million ointments/gels per year) commenced commercial production in June 2026, and the company has EAEU GMP clearance to sell into Eurasian markets. The biggest cost line is its field force and staff, with employees at 28.7% of FY26 revenue; raw materials are only 7.4% of revenue.