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CORONA Remedies Q2 FY27 results: net profit up 15.3% to ₹60.31 crore, revenue up 22.2%
CORONA Remedies Limited reported consolidated revenue of ₹441.17 crore and a net profit of ₹60.31 crore for Q2 FY27. Revenue rose 22.2% year on year, while profit before tax increased 15.8%; basic EPS was ₹9.86.
Key points
- Consolidated revenue was ₹441.17 crore in Q2 FY27, up 22.2% from ₹361.13 crore in Q2 FY26.
- EBITDA rose 22.3% to ₹95.95 crore, with the margin unchanged at 21.7%.
- Profit before tax was ₹80.62 crore, up 15.8%, and net profit was ₹60.31 crore, up 15.3%.
- Basic EPS increased 15.3% to ₹9.86 from ₹8.55.
- For H1 FY27, revenue was ₹863.6 crore and net profit was ₹120.42 crore, both up 22.2% and 22.0%, respectively, on the respective H1 FY26 measures.
How did CORONA Remedies perform in Q2 FY27?
Consolidated revenue for the July–September 2026 quarter was ₹441.17 crore, up 22.2% from ₹361.13 crore in Q2 FY26 and 4.4% from ₹422.43 crore in Q1 FY27. EBITDA was ₹95.95 crore, up 22.3% year on year and 3.0% sequentially, while the margin was 21.7%, unchanged from Q2 FY26 and down 0.3 percentage points from Q1 FY27.
Profit before tax was ₹80.62 crore, compared with ₹69.61 crore in Q2 FY26 and ₹80.35 crore in Q1 FY27. Net profit was ₹60.31 crore, up 15.3% year on year and 0.3% sequentially, while basic EPS was ₹9.86, compared with ₹8.55 and ₹9.83, respectively. The PAT margin was 13.7%, down 0.8 percentage points from Q2 FY26.
On the standalone basis, revenue was ₹441.17 crore and profit before tax was ₹80.62 crore. Net profit after tax was ₹60.18 crore, compared with ₹52.15 crore in Q2 FY26, and the standalone basic EPS in the filing was ₹9.84.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 441.17 | 422.43 | 361.13 | +22.2% | +4.4% |
| Other income | 2.48 | 3.15 | 2.27 | +9.3% | −21.3% |
| Total expenses | 363.03 | 345.23 | 293.79 | +23.6% | +5.2% |
| EBITDA | 95.95 | 93.13 | 78.47 | +22.3% | +3.0% |
| EBITDA margin | 21.7% | 22.0% | 21.7% | +0.0 pp | −0.3 pp |
| Profit before tax | 80.62 | 80.35 | 69.61 | +15.8% | +0.3% |
| Tax | 20.44 | 20.25 | 17.46 | +17.1% | +0.9% |
| Net profit | 60.31 | 60.11 | 52.32 | +15.3% | +0.3% |
| EPS (₹) | 9.86 | 9.83 | 8.55 | +15.3% | +0.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in CORONA Remedies' costs and profit?
Total expenses increased 23.6% year on year to ₹363.03 crore, rising faster than revenue. Cost of materials consumed was up 35.2% at ₹35.01 crore, employee cost rose 20.6% to ₹124.24 crore, other expenses increased 26.5% to ₹140.47 crore, depreciation and amortisation rose 63.7% to ₹15.06 crore, and finance costs increased 42.5% to ₹2.75 crore.
Other income was ₹2.48 crore, up 9.3% from ₹2.27 crore in Q2 FY26. There was no exceptional item in Q2 FY27. Tax expense rose 17.1% to ₹20.44 crore from ₹17.46 crore, resulting in a net profit increase of ₹7.99 crore against a profit-before-tax increase of ₹11.01 crore.
Sequentially, total expenses rose 5.2% from ₹345.23 crore to ₹363.03 crore. Cost of materials consumed increased by ₹2.36 crore, employee cost by ₹2.15 crore, other expenses by ₹10.78 crore and depreciation by ₹1.82 crore, while other income fell by ₹0.67 crore to ₹2.48 crore. The company’s investor presentation attributed the lower PAT margin to higher depreciation and amortisation for newly commissioned facilities and acquired brands.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 35.01 | 25.90 | +9.11 | +35.2% |
| Employee cost | 124.24 | 103 | +21.24 | +20.6% |
| Finance costs | 2.75 | 1.93 | +0.82 | +42.5% |
| Depreciation | 15.06 | 9.20 | +5.86 | +63.7% |
| Other expenses | 140.47 | 111.01 | +29.46 | +26.5% |
| Total expenses | 363.03 | 293.79 | +69.24 | +23.6% |
| Other income | 2.48 | 2.27 | +0.21 | +9.3% |
| Tax | 20.44 | 17.46 | +2.98 | +17.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹863.6 crore, up 22.0% from ₹707.67 crore in H1 FY26, while total income was ₹869.23 crore, up 22.1% from ₹711.96 crore. Profit before tax increased 23.3% to ₹160.97 crore from ₹130.5 crore.
Net profit for H1 FY27 was ₹120.42 crore, up 22.2% from ₹98.52 crore, and basic EPS was ₹19.69, up 22.2% from ₹16.11. The investor presentation reported an H1 PAT margin of 13.9%, while H1 FY27 revenue was ₹863.6 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 863.60 | 707.67 | +22.0% |
| Profit before tax | 160.97 | 130.50 | +23.3% |
| Net profit | 120.42 | 98.52 | +22.2% |
| EPS (₹) | 19.69 | 16.11 | +22.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹1,246.74 crore, compared with ₹1,205.14 crore at 31 March 2026. Total equity rose to ₹805.11 crore from ₹746.86 crore, while borrowings fell to ₹94.53 crore from ₹142.86 crore. Cash and cash equivalents were ₹1.58 crore, compared with ₹1.83 crore.
Inventories increased to ₹170.69 crore from ₹125.0 crore, trade receivables rose to ₹170.61 crore from ₹145.55 crore, and trade payables fell to ₹115.66 crore from ₹147.07 crore. H1 FY27 operating cash flow was ₹112.73 crore, compared with ₹113.44 crore in H1 FY26; investing cash flow was ₹3.3 crore against negative ₹41.32 crore, and financing cash flow was negative ₹116.28 crore against negative ₹73.55 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,247 | 1,205 |
| Total equity | 805.11 | 746.86 |
| Borrowings | 94.53 | 142.86 |
| Cash and equivalents | 1.58 | 1.83 |
| Inventories | 170.69 | 125 |
| Trade receivables | 170.61 | 145.55 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 112.73 | 113.44 |
| Cash from investing | 3.30 | −41.32 |
| Cash from financing | −116.28 | −73.55 |
| Capital expenditure | 26.33 | 32.51 |
Source: Company's results filing (XBRL).
How has CORONA Remedies done over the last 5 quarters?
Revenue reached a five-quarter high of ₹441.17 crore in Q2 FY27, compared with the low of ₹342.42 crore in Q3 FY26. Net profit also peaked at ₹60.31 crore in Q2 FY27, while the earlier low was ₹41.27 crore in Q3 FY26.
The EBITDA margin was 21.7% in Q2 FY27, the same as Q2 FY26. It had bottomed at 17.6% in Q4 FY26 and peaked at 24.3% in Q3 FY26. Revenue and net profit rose sequentially from Q1 FY27, while the margin declined from 22.0%.
What else did the company announce?
On 30 October 2026, the board approved the unaudited standalone and consolidated financial results and limited review reports for the quarter and half year ended 30 September 2026. The results, review reports and press release were enclosed with the filing, and the board meeting ran from 03:30 p.m. to 04:40 p.m.
The same-day investor presentation also stated that India contributed 97.1% of H1 FY27 revenue and chronic and sub-chronic therapies contributed about 72.1%. It added that the Bhayla oral solid dosage line’s EU-GMP certification was renewed in May 2026, its hormone facility received EU-GMP certification in June 2026, and the Bhayla OSD and hormone facility received ANVISA GMP certification in October 2026.
What did CORONA Remedies' management say?
Management maintained FY27 guidance for 15% revenue growth, framed as 1.5 times industry growth, and reiterated 20% PAT growth. The company expected about 15% international revenue growth this year, with an international order book of ₹60–65 crore and about 15% growth thereafter. It retained a 25% CAGR target for Vokadin over three to four years.
Bhavin Bhagat, Chief Financial Officer, said, “We have given a guidance on two sides, that is revenue and PAT. Revenue will be growing by fifteen percent, and PAT would be by twenty percent. We have never given a guidance on an operating margin side.” Management expected margins to improve as the drag from more than 400 recent medical-representative additions slows, while price-control and trade-margin-cap changes remained risks.
How did CORONA Remedies shares react?
The filing appeared after market hours. The stock was up 0.3% after five minutes, 0.2% after 15 minutes and 1.9% after 30 minutes, but closed the reaction session 0.6% below its pre-results close. By the next day’s close, it was up 4.4% from that pre-results close, compared with a 0.6% median move for the Pharmaceuticals industry.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | +0.3% | |
| 15 minutes | +0.2% | |
| 30 minutes | +1.9% | |
| Reaction day | −0.6% | +0.2% |
| Next day | +4.4% | +0.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 31 July 2026 | +0.7% |
| 11 May 2026 | −7.1% |
| 2 January 2026 | +0.8% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Sixty Pharmaceuticals companies that had filed for the quarter were compared with Corona Remedies. Their median revenue growth was 18.9%, while 34 peers grew more slowly than the company and 26 grew faster than it.
Of the 54 peers for which profit was compared, 38 reported higher profit. CORONA Remedies reported Q2 FY27 revenue growth of 22.2% and net-profit growth of 15.3%.
| CORONA Remedies revenue growth (YoY) | +22.2% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +18.9% |
| Companies with slower revenue growth than CORONA Remedies | 34 of 60 |
| Companies with faster revenue growth than CORONA Remedies | 26 of 60 |
| Companies whose net profit rose | 38 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was CORONA Remedies' revenue in Q2 FY27?
Revenue from operations was ₹441.17 crore, up 22.2% from ₹361.13 crore in Q2 FY26 (consolidated).
Did CORONA Remedies make a profit in Q2 FY27?
Yes. Net profit was ₹60.31 crore, against a net profit of ₹52.32 crore in Q2 FY26.
What was CORONA Remedies' EPS in Q2 FY27?
Basic earnings per share were ₹9.86, against ₹8.55 in Q2 FY26.
How did CORONA Remedies shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close; the median Pharmaceuticals stock moved +0.2%.
When did CORONA Remedies announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results On Standalone And Consolidated Basis For The Second Quarter And Half Year Ended On September 30, 2026 (BSE, 16 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 30 October 2026) · PDF
- Unaudited Financial Results Along With The Limited Review Reports For Second Quarter And Half Year Ended September 30, 2026 (BSE, 30 October 2026) · PDF
- The earnings call (2 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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