Corona Remedies Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Corona Remedies Ltd trades at ₹2,062, in a confirmed uptrend and 23 weeks into that stage. That is +25.4% against its own 200-day average. It sits at 100% of a 52-week range of ₹1,365 to ₹2,062. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 24 straight weeks.

Today the stock is in a confirmed uptrend — week 23 of stage 2, confirmed. At ₹2,062 it trades +25.4% versus its 200-day average and sits at 100% of its 52-week range (₹1,365–₹2,062).

Against the market, two honest reads. Cumulative: over the last 7 months the stock moved +50% while the NIFTY 500 moved −2% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 24 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 100th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Corona Remedies Ltd trades at 64.7× P/E, about the priciest it has ever traded. Its long-run median P/E is 54.6×, measured across 0.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 64.7× is about the priciest it has ever traded, against a long-run median of 54.6× measured over 0.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Corona Remedies Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 6 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

60.8/100 — rank 7 of 43 in Pharma - Formulators · 69% evidence confidence

Corona Remedies Ltd scores 60.8 out of 100 against the 43 companies it is compared with in Pharma - Formulators, ranking 7. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 21 + 18.5 + 11.3 + 10 = 60.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Corona Remedies Ltd reported ₹353 Cr of revenue in the Mar 26 quarter, +20.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 3 years it has compounded at 16.6% a year. The last full year, FY26, came in at ₹1,403 Cr. The last four reported quarters add to ₹1,403 Cr.

Corona Remedies Ltd reported ₹353 Cr of revenue in the Mar 26 quarter, +20.1% year on year. That is the 5th straight quarter of year-on-year growth. Over 3 years it has compounded at 16.6% a year. The last full year, FY26, came in at ₹1,403 Cr. The last four reported quarters add to ₹1,403 Cr.

FY26 revenue came in at ₹1,403 Cr (+17.3% on the year), capping 3 years at 16.6% compound. The latest quarter (Mar 26) printed ₹353 Cr, +20.1% year on year — the 5th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +16.1% growth against the decade's 16.6% — the current year is running in line with its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 18.0% this quarter (+0.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Corona Remedies Ltd's operating margin is 18.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 14.0% to 21.0%. The current quarter sits inside that band.

Corona Remedies Ltd's operating margin is 18.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 14.0% to 21.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 18.0%, +0.0 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 14.0%–21.0%.

🚨 Why the margin moved: operating margin went −0.9 pp year on year while gross margin went +0.6 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins held — did that reach the bottom line? Next: profit +40.6% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Corona Remedies Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +40.6% year on year. Full-year FY26 profit was ₹185 Cr. The 3-year compound rate is 29.6%. That is 12.7% of the quarter's revenue. The same quarter a year earlier earned ₹32.0 Cr.

Corona Remedies Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +40.6% year on year. Full-year FY26 profit was ₹185 Cr. The 3-year compound rate is 29.6%. That is 12.7% of the quarter's revenue. The same quarter a year earlier earned ₹32.0 Cr.

Mar 26 profit was ₹45.0 Cr, +40.6% year on year. On the full year, FY26 printed ₹185 Cr (+24.2%), and the 3-year compound rate is 29.6%.

Why profit moved: revenue contributed +20.1% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +20.1% vs revenue +16.1%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 136% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 136% of Corona Remedies Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹229 Cr of operating cash against ₹185 Cr of profit. After ₹179 Cr of capital spending, ₹50.0 Cr was left as free cash.

FY26: operating cash of ₹229 Cr against reported profit of ₹185 Cr, leaving free cash of ₹50.0 Cr after ₹179 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 136% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 136%: the cash cycle tightened 48 days between FY23 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 5.3× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹550 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Corona Remedies Ltd's cash conversion cycle runs 7 days in FY26, down from 55 days in FY23. Capital spending ran ₹550 Cr over the last 3 years. At FY26 sales of ₹1,403 Cr each day of that cycle holds about ₹3.8 Cr, so roughly ₹27.0 Cr sits inside the business at any moment.

FY26: debtors at 38 days, inventory at 175 days — roughly 5.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 7 days, tighter than FY23's 55.

The full loop: cash goes out to suppliers and production on day 0; stock waits 175 days to sell; customers pay about 38 days after that; and suppliers themselves are paid at 206 days — netting out to the 7-day cycle.

In money terms: at FY26 sales of ₹1,403 Cr, each day of the cycle holds about ₹3.8 Cr — so the 7-day loop keeps roughly ₹27.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹550 Cr over the last 3 fiscal years against ₹103 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹143 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 33% and the ROIC − WACC spread is +13.4 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Corona Remedies Ltd earns a ROCE of 33% in FY26. That is up from a trough of 25% in FY24. Return on invested capital clears the cost of that capital by +13.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.2% net margin on 1.16× asset turns.

FY26 ROCE is 33%, recovered from a FY24 trough of 25% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 13.2% net margin × 1.16× asset turns × 1.61× balance-sheet leverage ≈ 24.7% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 25.4% − 12.0% = a +13.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.22.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Corona Remedies Ltd carries total debt of ₹165 Cr against shareholder equity of ₹747 Cr as of Mar 26, a debt-to-equity of 0.22 — effectively unlevered. On the annual view that ratio went from 0.33 in FY24 to 0.22 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹165 Cr against shareholder equity of ₹747 Cr — a debt-to-equity of 0.22. On the annual view, debt-to-equity went from 0.33 (FY24) to 0.22 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Corona Remedies Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Corona Remedies Ltd: the Z-score reads 14.65. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 14.65 sits well clear of the distress zone — the balance sheet is not the risk here.

The safety line in one sentence: the Z-score reads 14.65.

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