Corona Remedies Q1: consolidated PAT +30% YoY to ₹60 Cr, revenue up 22%, margins expand

Corona Remedies opened FY27 with a clean growth print: consolidated revenue rose 21.9% YoY to ₹422.4 Cr and net profit climbed 30.1% YoY to ₹60.1 Cr (₹46.2 Cr a year ago), with net margin widening ~90 bps to 14.2%. Profit outgrew revenue with no help from one-offs — neither the current nor year-ago quarter carries an exceptional item, so the reported +30.1% is also the underlying figure. Standalone tells the same story (PAT ₹60.1 Cr); the consolidated line differs by just ₹0.01 Cr of associate profit, so the two bases are effectively identical here.

The margin expansion is operating-led. Management's disclosed EBITDA rose 33.5% to ₹93.1 Cr with EBITDA margin up 190 bps YoY to 22.0%, driven by brand-building and operational leverage: revenue grew faster than employee costs (₹122.1 Cr, +25%) and other expenses (₹129.7 Cr, +14%), while cost of materials stayed contained. Sequentially the print looks even stronger — revenue +19.6% and PAT +32.6% over Q4 FY26's ₹353.1 Cr / ₹45.3 Cr — but Q4 was a soft base, so YoY is the cleaner read. The board declared the results 31 July; the earnings call is set for 3 August.

The stock went into the print at ₹2,100, up 4.5% over the past month of trading.

For context: this is the highest quarterly PAT in the last 4 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 4-quarter high.

No exceptional items either period — reported +30% PAT growth is fully underlying, not one-off aided

Against the bar, this is a beat-to-meet. Management's FY27 guidance from the Q4 concall was >15% organic revenue growth and >20% PAT growth; Q1 delivered 21.9% and 30.1%, comfortably ahead on both. Street context was thin for this December-2025 IPO — Univest's preview pegged Q1 PAT in a ₹58–74 Cr range, and the actual ₹60.1 Cr lands in the lower-middle of it, so inline rather than a blowout. Operationally, management flags Corona as the fastest-growing among IPM's top-30 for six straight months, rank up three places to 26th (MAT June'26), and 5th in Gynaecology. The quarter also saw commercialisation of the EU-GMP female hormone facility (30 June) and the start of Wokadine integration — both feeding the chronic/women's-health focus that underpins the guidance.