Corona Remedies Ltd IPO
Pharmaceuticals
Price Band
₹1008 – ₹1062
Lot Size
14
Minimum Bid Quantity
14
Minimum Investment
₹14868
Issue Size
₹655.37Cr
Opens
2025-12-08
Closes
2025-12-10
Listing
15-12-2025
Subscription Status
Qualified Institutional Buyers
275.2 x
Non-Institutional Investor
207.43 x
Retail Individual Investor
26.38 x
Employees
13.63 x
Total
134.63 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE02ZQ01018
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Corona Remedies Limited is an India-focused branded pharmaceutical formulations company engaged in developing, manufacturing, and marketing products in various therapeutic areas. These include women's healthcare, cardiology, diabetology, pain management, and urology. The company operates two manufacturing facilities—one in Bhayla, Gujarat, and another in Solan, Himachal Pradesh. As of June 30, 2025, the company’s manufacturing facilities had an aggregated installed capacity of 128.54 crore units per annum and 11 production lines. The company also operates two research and development (R&D) facilities in India, which are housed within its manufacturing facilities and registered with the Department of Scientific and Industrial Research, Ministry of Science and Technology. As of June 30, 2025, the company employed 103 staff members in its R&D department.
Pros
- • Corona Remedies claims to be the second-fastest growing company among the top 30 pharmaceutical companies in India by domestic sales, achieving a compound annual growth rate (CAGR) of 16.77 percent compared to the industry’s average of 9.21 percent, between the moving annual total (MAT) June 2022 and MAT June 2025. The company claims that its focus on high-growth therapeutic areas such as women’s healthcare, cardio-diabetes, pain management, and urology has significantly contributed to this growth.
- • Corona Remedies claims to have outperformed the industry with a higher share of new product launches exceeding Rs 5 crore in sales, accounting for 14.43 percent of the market, compared to the 30 largest pharmaceutical companies in the Indian pharmaceutical market (IPM) with 11.40 percent, and the overall IPM with just 5.60 percent.
- • Corona Remedies claims to have a diversified product portfolio consisting of 71 brands, contributing significantly to its domestic sales. Within its targeted therapeutic areas, the women’s healthcare segment contributed 28.56 percent, cardio-diabetes (comprising cardio-vascular and anti-diabetic areas) contributed 23.38 percent, pain management contributed 11.79 percent, and urology contributed 4.53 percent to the company’s domestic sales for MAT June 2025. Key brands like Myoril, COR, and Trazer claim to have top positions within their respective sub-groups, enhancing the company’s leadership in these therapeutic areas.
Cons
- • Corona Remedies derives a significant portion of its revenue from only three therapeutic areas: women’s healthcare, cardio-diabeto, and pain management. These areas contributed Rs 225.73 crore (65.14 percent) to the company’s revenue for the period ended June 30, 2025; Rs 746.55 crore (62.40 percent) in FY25; Rs 612.61 crore (60.39 percent) in FY24, and Rs 495.30 crore (56.03 percent) in FY23. Any adverse developments within these areas, such as underperformance, increased competition, or the emergence of more effective alternatives, could significantly impact the company's revenue, profit margins, and overall financial condition.
- • Corona Remedies relies heavily on its flagship "engine" brands, such as B-29 and Myoril, among others. They accounted for Rs 1,033.40 crore (72.34 percent) of the company’s domestic sales during the MAT June 2025 period; Rs 911.64 crore (72.49 percent) during the MAT June 2024 period; Rs 746.24 crore (67.71 percent) during the MAT June 2023 period; and Rs 587.98 crore (65.54 percent) during the MAT June 2022 period. Any adverse developments, such as increased competition, pricing challenges, or regulatory issues affecting the sales of these brands, could significantly harm the company’s operations and financial performance.
- • A significant portion of Corona Remedies' revenue comes from the Indian market. It accounted for Rs 333.85 crore (96.34 percent) of the company’s total revenue for the period ended June 30, 2025; Rs 1,152.46 crore (96.33 percent) in FY25; Rs 980.23 crore (96.62 percent) in FY24; and Rs 852.16 crore (96.39 percent) in FY23. Although India is a large market, any decline in demand in the country, increased competition, or the impact of factors such as generic innovations or government schemes (e.g., PMJAY) could negatively affect the company’s revenue.
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