Corona Remedies Ltd IPO

The therapeutic areas of women's healthcare, cardio-diabeto and pain management contributed to an aggregate of Rs.2,257.26 million (or 65.14%) and Rs.7,465.54 million (or 62.40%) of our revenue from operations for the three months ended June 30, 2025 and the Financial Year 2025, respectively. If our products in these or other therapeutic areas which contribute significantly to our revenue from operations do not perform as expected or if competing products become available and gain wider market acceptance, our business, results of operations, financial condition and cash flows may be adversely affected.

Our 27 "engine" brands (and in particular, our B-29 and Myoril brands) accounted for 72.34% of our domestic sales during the MAT June 2025 period, and any adverse developments affecting the sales of our "engine" brands could have an adverse effect on our business, results of operations, financial condition and cash flows.

We derive a significant majority of our revenue from our operations within India (constituting 96.34% and 96.33% of our revenue from operations during the three months ended June 30, 2025 and the Financial Year 2025, respectively). In the event of a fall in demand for our products in India, or if we fail to successfully expand into international markets, our business, results of operations, financial conditions and cash flows may be adversely affected.

A significant portion of our domestic sales are concentrated in the states of Gujarat, Maharashtra, Chhattisgarh, Goa and Madhya Pradesh (accounting for 47.30% of our domestic sales for MAT June 2025). Any adverse developments affecting our sales in these regions could have an adverse effect on our business, results of operations, financial condition and cash flows.

70.10% of our domestic sales for MAT June 2025 were derived from chronic and sub-chronic therapeutic segments, which are subject to risks and uncertainties that could adversely affect our business, results of operations, financial condition and cash flows.

We depend on third-party suppliers to procure our raw materials and finished goods, with whom we do not have long term contracts, with our total purchases aggregating to 19.87% and 27.96% of our total expenses for the three months ended June 30, 2025 and the Financial Year 2025, respectively. Further, we rely on La Chandra Pharmalab Private Limited, our Associate and Group Company, for the supply of certain active pharmaceutical ingredients in our women's healthcare therapeutic area. We cannot assure you that we will be in a position to fully control or direct the operations of such suppliers to ensure an uninterrupted supply of raw materials and APIs.

As of June 30, 2025, with a portfolio of 71 brands, we held 194 registered trademarks, with 29 pending trademark applications and 67 opposed/ objected/ refused / abandoned trademarks under certain classes of trademarks. If we are unable to obtain trademarks for our products and brands or protect other proprietary information, our business, results of operations, financial condition and cash flows may be adversely affected.

We are required to obtain, maintain or renew our statutory and regulatory licenses, permits and approvals required to operate our operations. If we fail to obtain, maintain or renew the required licenses, permits and approvals, it may adversely affect our business, results of operations, financial condition and cash flows.

Proceeds from the Offer will not be available to us.

As of June 30, 2025, we engaged 22 carrying and forwarding agents for the sale of our products across the regions in which we market our products, with our five largest C&F agents contributing to 43.30% and 44.35% of our revenue from operations for the three months ended June 30, 2025 and the Financial Year 2025. The loss of our C&F agents, the deterioration of their financial condition or prospects, a reduction in their demand for our products or our inability to maintain and increase the number of our arrangements for the distribution of our products could adversely affect our business, results of operations, financial conditions and cash flows.