Corona Remedies delivered a strong financial performance in the second quarter and first half of FY26, reinforcing its position as one of the fastest-growing domestic branded pharmaceutical companies in India. Corona Remedies Q2 FY26 results mark the company’s first full earnings announcement after its successful stock market listing in December 2025.
Corona Remedies Q2 FY26 Results: Revenue Growth Outpaces Industry Trends
For Q2 FY26, Corona Remedies reported Revenue from Operations of INR 361.13 crore, while H1 FY26 revenue stood at INR 707.67 crore. This translates into a 15.1% year-on-year growth for the quarter and 17.0% growth for the half year, outperforming the broader Indian Pharmaceutical Market growth during the same period.
Corona Remedies Q2 FY26 Results
| Particulars | Q2 FY26 | Q1 FY26 | Q2 FY25 | QoQ Growth (%) | YoY Growth (%) |
|---|---|---|---|---|---|
| Revenue from Operations | 361.13 | 346.54 | 313.87 | +4.2 | +15.1 |
| EBITDA | 78.47 | 69.78 | 64.47* | +12.5 | +21.7 |
| EBITDA Margin (%) | 21.7 | 20.1 | 20.5 | +160 bps | +120 bps |
| Profit After Tax (PAT) | 52.32 | 46.20 | 42.97 | +13.3 | +21.8 |
| PAT Margin (%) | 14.5 | 13.3 | 13.7 | +120 bps | +80 bps |
| EPS (INR) | 8.55 | 7.55 | 7.03 | +13.2 | +21.6 |
Corona Remedies H1 FY26 Results: Sharp Profit Acceleration
H1 Performance
| Particulars | H1 FY26 | H1 FY25 | YoY Growth (%) |
|---|---|---|---|
| Revenue from Operations | 707.67 | 605.04 | +17.0 |
| Gross Profit | 573.24 | 484.82 | +18.2 |
| EBITDA | 148.25 | 120.11 | +23.4 |
| EBITDA Margin (%) | 20.9 | 19.9 | +100 bps |
| Profit After Tax (PAT) | 98.52 | 72.92 | +35.1 |
| PAT Margin (%) | 13.9 | 12.1 | +180 bps |
| EPS (INR) | 16.11 | 11.92 | +35.2 |
Consistent Multi-Year Growth Track Record
Corona Remedies has demonstrated a steady improvement in both scale and profitability over the last three years.
Healthy Balance Sheet and Best-in-Class Return Ratios
As per the company’s disclosures for H1 FY26 (annualised):
| Key Metrics | Value |
|---|---|
| Return on Equity (RoE) | 31.1% |
| Return on Capital Employed (RoCE) | 49.7% |
| Operating Cash Flow / EBITDA | 76.5% |
| Net Working Capital Days | 23 days |
These metrics place Corona Remedies among the most capital-efficient domestic pharmaceutical companies, supported by low leverage and strong cash generation.
Management Commentary
Commenting on the performance, Managing Director and CEO Mr. Nirav K. Mehta said the strong results reflect strategic consistency, disciplined execution, and focus on core therapeutic segments. He highlighted the company’s continued investments in field force expansion, brand building, and specialist-led prescriptions as key growth drivers.
He also acknowledged the role of bankers, employees, and stakeholders in the company’s successful listing on Indian stock exchanges.
Post-IPO Context and Market View
Corona Remedies debuted on the stock exchanges in December 2025 with a strong listing, opening at INR 1,470 on NSE, a 38% premium to its IPO upper price of INR 1,062. The IPO, entirely an Offer for Sale of INR 655.37 crore, was subscribed 137x, led by strong institutional demand.
At FY25 earnings, the company was valued at a P/E multiple of ~41–43x, comparable with established peers, supported by superior growth rates, rising margins, and high return ratios.
Conclusion
Corona Remedies Q2 and H1 FY26 performance confirms that the company has entered the public markets with strong operational momentum. With double-digit revenue growth, faster profit expansion, improving margins, and exceptional capital efficiency, the company appears well-positioned to sustain its growth trajectory in the medium term.
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