Corona Remedies Ltd. (Mainboard)

IPO Details

Key Performance Indicators

Financial Details In Crores

Peer Comparison (Valuation)

Company Overview

Sector: Indian Pharmaceutical Market (IPM)

Incorporated in August 2004, Corona Remedies Limited is a pharmaceutical company engaged in the development, manufacturing, and marketing of products across key therapeutic categories, including women’s healthcare, cardiology, pain management, urology, and various multispecialty segments.

As of December 2024, the company’s product portfolio comprises 67 brands spanning women’s health, cardio-diabeto care, pain relief, urology, and multispecialty pharmaceuticals such as vitamins, minerals, nutrition, gastrointestinal, and respiratory products.

Corona Remedies has built a strong pan-India presence through a well-established marketing and distribution network. With 2,598 medical representatives across 22 states, the company maintains strong engagement with healthcare professionals and hospitals, driving deeper penetration in the Indian Pharmaceutical Market (IPM).

The company operates two manufacturing facilities located in Gujarat, supporting its production and quality-driven growth strategy.

Strength

Strong Market Growth Leadership: Second fastest-growing company among the top 30 pharma players (MAT 2022–2025), with strong positioning to capture India’s expanding pharma demand.

Diversified and Scalable Product Portfolio: Proven ability to build multiple “engine brands” across key therapies like women’s health, cardio-diabetic, pain, and urology, supporting sustainable long-term growth.

Robust Pan-India Sales Network: A wide national sales and marketing network focused on specialist doctors and mid-income patients, enabling higher prescription growth than the overall market.

Weakness

High Dependence on Few Therapy Areas: Over 60% of revenue comes from women’s health, cardio-diabetic, and pain management; underperformance or competition in these categories could impact growth.

Concentration in Limited Engine Brands: 27 key “engine brands” contribute over 70% of domestic sales; any decline in flagship brands like B-29 or Myoril could materially affect performance.

Heavy Reliance on Indian Market: More than 96% of revenue comes from India; weak domestic demand or slow international expansion could negatively affect financial stability.