Market & News

To,

The Members

The Board of Directors have the pleasure of presenting the 22 nd Annual Report of your Company, along with the Audited Financial Statements for the financial year ended March 31,2026.

1. HIGHLIGHTS

CORONA Remedies Limited is an India focussed Pharmaceutical Company with 96% India Business Contribution. Our India business delivered a landmark year, recording total growth of 17.18% against an Indian Pharmaceutical Market (IPM) growth of 8.59% as per PharmaTrac MAT March 2026 data — an outperformance of 859 basis points, growing at more than 2x the market rate. This is not an isolated achievement but part of a longstanding track record of consistently outperforming the IPM over many years.

• Fastest growing Company in the Top 30 of IPM:

At Rank #27 in the overall IPM and growing at 17.18% against the market's 8.59%, Company is the fastest growing pharmaceutical company within the Top 30 of the Indian Pharmaceutical Market for MAT March 2026. This 859 bps outperformance over IPM is a reflection of the Company's superior execution, focused therapy positioning and a consistently expanding brand portfolio.

• Broad-based market outperformance across all growth drivers: Growth was not driven by a single factor. The Company outpaced the IPM on every individual growth trajectory: volume growth of 3.03% versus IPM's 0.66% (+237 bps), price growth of 7.76% versus IPM's 5.43% (+233 bps) and new product (NP) growth of 6.39% versus IPM's 2.50% (+388 bps). Volume growth in particular came in at 4.6x the market rate, evidencing genuine prescription share gains. •

• Rank improvement to #27 in IPM: The

Company's rank in the overall IPM has improved to #27 as of MAT March 2026, from #32 in 2023 — five rank positions gained in three years. In the Company's defined covered market, the rank improved to #15 from #19 over the same period — four rank positions advanced. Market share in the

overall IPM expanded by 10 bps from 0.57% to 0.67% with continued upward momentum.

• New Product Introduction: The Company launched 13 new products during F.Y. 2025-26, all within its defined covered market. The new product (NP)growth of 6.39% (+388 bps over IPM's 2.50%) confirms strong market adoption and validates the scientific credibility that Company's field force has built across its target specialties.

Specialty strategy — the middle of the pyramid

A defining feature of Company's commercial architecture is its deliberate positioning at the middle of the specialty pyramid — targeting Consulting Physicians, Medicine Specialists (MD Medicine) and focused Specialists across high- growth therapy areas. This positioning — above the crowded GP (General Practitioner) tier but below the super-specialist KOL (Key Opinion Leader) segment — represents the most productive and scalable engagement zone in Indian pharmaceuticals today.

• Strategic Focus: The "Middle of the Pyramid" Model

Company's "Middle of the Pyramid" strategy prioritizes high-value experts, capturing 55% of prescriptions from Specialists and 12% from Super Specialists, which far exceeds the IPM averages of 35% and 8%. By intentionally limiting its focus on Other Specialist to 8% and General Practitioners to 24% (versus 18% and 39% in the IPM respectively), the Company concentrates on specialized medical expertise rather than broad market volume.

• Covered market design reflects specialty focus: The Company's covered market of ' 85,588 crores (MAT March 2026), growing at 11.65% (+306 bps ahead of overall IPM), is built around therapy segments where middle- pyramid specialists are the primary decisionmakers. The covered market now represents 34.80% of the overall IPM, an expansion of 114 bps from 33.66% in 2023, reflecting active addition of new therapy adjacencies within our specialty orbit.

• Product lifecycle as validation: The specialty- focused strategy is directly responsible for the quality of our portfolio lifecycle profile. The Company's portfolio is structurally younger and more growth-oriented than the market with 57.39% of our portfolio value in the Growth stage (versus 36.24% for the overall IPM with 2,115 bps upside) and only 5.78% in Decline (versus 11.96% for IPM) only Specialty brands, when built well, have longer growth runways and lower decline exposure — exactly what our numbers demonstrate.

• Middle of the pyramid strategy fuels brand scale: Our prescription mix demonstrates the strength of our specialist-led model. With a substantially higher contribution from Specialists and Super Specialists than the industry average, CORONA's brands are able to establish clinical trust early, accelerate brand tier progression, and create a stronger foundation for sustained market leadership. The growth of our 2 brands exceeding ' 1,000 Millions in annual sales (up from zero in 2023) and the emergence of ' 500 Millions to ' 1,000 Millions brand cohort from 3 brands in 2023 to 8 brands in 2026, is a direct outcome of this specialty-led approach.

Brand building at scale

The Company's brand portfolio has undergone a transformational upgrade over the past three years, with systematic progression across every value tier. This reflects consistent investment in brands backed by scientific detailing at the right prescriber level.

• Two blockbuster brands above ' 1,000 Millions:

As of MAT March 2026, the Company has 2 mother brands exceeding ' 1,000 Millions in annual sales — a milestone not achieved three years ago. This emergence of blockbuster- scale brands in a mid-sized pharmaceutical Company is a significant validation of the brand-building strategy. •

• Power brand cohort nearly tripled: The number of brands in the ' 500 Millions to ' 1,000 Millions range has grown from 3 in MAT March 2023 to 8 in MAT March 2026 — a 167% increase in three years. These power brands form the core growth engine and represent the next cohort of blockbuster candidates.

• 18 base brands building momentum: The

Company maintains 18 brands in the ' 100 Millions to ' 300 Millions range, representing a robust feeder pipeline for future tier transitions. The continuity of this base confirms the depth and diversity of Company's therapeutic presence.

Revenue performance

The Company registered net sales of ' 1,640 crores for MAT March 2026, against ' 1,400 crores for MAT March 2025, reflecting a 1 year growth of 17.18%. The quality of this growth — driven by volume, price and new products in near-equal measure — is a testament to the sustainability of the underlying business.

• Total revenue growth of 2x with 17.18% (vs IPM: 8.59%), an outperformance of 859 bps.

• Volume growth of 3.03% (vs IPM: 0.66%), outperformance of 237 bps, equivalent to 4.6x the market rate.

• Price growth of 7.76% (vs IPM: 5.43%), outperformance of 233 bps.

• New product growth of 6.39% (vs IPM: 2.50%), outperformance of 388 bps, equivalent to 2.6x the market.

• Market share expanded by 10 bps from 0.57% in MAT March 2023 to 0.67% in MAT March 2026, with consistent improvement each year.

• Covered market share expansion of 114 bps

from 33.66% of IPM in 2023 to 34.80% in 2026, reflecting active expansion of the therapy addressable market.

Outlook

The Company enters F.Y. 2026-27 as one of the fastest growing companies in the Top 30 of the Indian Pharmaceutical Market, with strong momentum across brands, therapies and geographies within India. Our specialty-focused strategy at the middle of the pyramid, a growth-stage portfolio, an active new product pipeline and a deeply motivated field force provide a strong foundation for continued above-market performance.

The fundamentals are intact, the direction is clear and the ambition is firm. We remain committed to delivering consistent and sustainable, quality growth and increasing value to all our stakeholders in the years ahead.

2. FINANCIAL RESULTS

The financial statements of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the Act) read with Rule 7 of the Companies (Accounts) Rules, 2014 (the Accounts Rules) and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), as amended from time to time.

Pursuant to and in compliance with the provisions of Section 134(3) read with Rule 8 of the Accounts Rules, the standalone and consolidated financial performance of the Company for the financial year ended on March 31,2026 is summarized below:

(' in Crores except per share data)

Particulars	Consolidated		Standalone
	F.Y. 2025-26	F.Y. 2024-25	F.Y. 2025-26	F.Y. 2024-25
Revenue from Operations	1,403.18	1,196.42	1,403.18	1,196.42
Other Income	10.65	5.93	10.65	5.93
Total Revenue	1,413.83	1,202.35	1,413.83	1,202.35
Earnings before Interest, Tax & Depreciation & Amortization (EBITDA)	304.09	245.91	304.09	245.91
Less: Finance Cost	6.97	10.60	6.97	10.60
Less: Depreciation & Amortization	37.87	37.16	37.87	37.16
Profit before tax (PBT)	259.25	198.15	259.25	198.15
Less: Statutory impact of new Labour Codes	19.10	-	19.10	-
Add: Share of Profit (Loss) in Associate	0.27	0.38	-	-
Less: Tax Expense	55.30	49.10	55.30	49.10
Profit after tax (PAT)	185.12	149.43	184.85	149.05
Balance available for appropriation	185.12	149.43	184.85	149.05
Opening balance of Retained Earnings	503.60	377.67	502.98	377.43
Closing balance of Retained Earnings	644.12	503.60	643.23	502.98
Earnings Per Share (' per share)	30.27	24.43	30.22	24.37

Notes:

The above figures are extracted from the audited consolidated and standalone financial statements of the Company as per the Ind AS.

3. STATE OF COMPANY ' S AFFAIRS

For the financial year ended March 31,2026, with a strong focus on the domestic market, the Company reported a strong financial performance across both consolidated and standalone operations.

On a consolidated basis, revenue from operations along with other income stood at ' 1,413.83 Crores. The Company recorded a profit before tax (PBT) from continuing operations of ' 259.25 Crores and profit after tax (PAT), including continuing and discontinued operations of ' 185.12 Crores. Total comprehensive income for the year amounted to ' 0.11 Crores while earnings per share (EPS) stood at ' 30.27.

On a standalone basis, the Company achieved revenue from operations and other income of ' 1,413.83 Crores. The standalone PBT for the year was ' 259.25 Crores and PAT was ' 184.85 Crores. The total comprehensive income stood at ' 0.11 Crores with EPS reported at ' 30.22.

Additionally, the Company continues to operate with well-established systems and processes that ensure effective monitoring and control over key areas such as receivables, inventories and other operational parameters.

During the year, with the acquisition of Wokadine, Company has further expanded its presence in Povidone Iodine India market. The Company continued to outperform the Indian Pharma Market (IPM) in chronic segments.

4. INITIAL PUBLIC OFFERING

During the year under review, the Company has successfully completed its Initial Public Offer (IPO) through an Offer for Sale of 61,74,051 Equity Shares of face value of ' 10/- each at a price of ' 1,062/- per Equity Share including a premium of ' 1,052/- per Equity Share, aggregating total offer to ' 6,553.71 Millions.

I n December 2025, the Company launched its IPO, marking a significant moment in its corporate journey. Key details of the IPO are as follows:

• Issue Period: December 08, 2025 to December 10, 2025

• Price Band: ' 1008/- to ' 1062/- per equity share

• Issue size: 61,74,051 equity shares through an Offer for Sale, aggregating to ' 6,553.71 Millions at the upper price band

• Subscription Details:

o Qualified Institutional Buyers (QIBs):

117.52 times

o Non-Institutional Investors (NIIs):

219.49 times

o Retail Individual Investors (RIIs):

29.29 times

o Eligible Employees: 3.42 times o Overall Subscription: 101.01 times

• Listing Performance: The shares debut at ' 1,470/- on National Stock Exchange of India Limited (NSE) and at ' 1,452/- on BSE Limited (BSE), reflecting a 38% premium over the issue price.

The Equity Shares of the Company were listed on NSE and BSE on December 15, 2025. The issue was led by book running lead managers JM Financial

Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited.

Your Directors would like to thank the Merchant Bankers, legal counsels and other Stakeholders for their support to the Company in achieving a successful IPO and listing.

Your Directors extend their heartfelt gratitude to the members for investing / subscribing for the Equity shares in the IPO and reposing their continuous trust and faith in the Company and its management.

5. DIVIDEND

T he Board of Directors of the Company, at its meeting held on May 11,2026, have recommended a final dividend on Equity Shares for the year ended on March 31,2026 of ' 10/- per share (100%) of face value of ' 10/- each. The final dividend is subject to approval of members in the ensuing Annual General Meeting and shall be subject to deduction of income tax at source as per applicable laws. The said dividend, if approved by the Members at the ensuing AGM will be paid to those Members whose names are furnished by the National Securities Depository Limited and the Central Depository Services (India) Limited, as beneficial owners of the Company as at Record Date i.e. Friday, June 19, 2026.

The total dividend recommended by the Board of Directors for the financial year under report is in line with the Company's Dividend Distribution Policy and with the provisions of the Act.

DIVIDEND DISTRIBUTION POLICY

Pursuant to Regulation 43A of the Listing Regulations, the Company has formulated and adopted Dividend Distribution Policy which aims at striking the right balance between the quantum of dividend paid to its shareholders and the amount of profits retained for its business requirements, present and future. The Policy intends to broadly specify various external and internal factors that shall be considered while declaring Dividend, the circumstances under which the shareholders of the Company may or may not expect Dividend, the financial parameters that shall be considered while declaring Dividend. The Company has adopted the Dividend Distribution Policy and the said policy is available on the website of the Company at .

6. MATERIAL CHANGES AFFECTING THE COMPANY

There have been no material changes and commitment affecting the financial position of the Company occurred between the end of the financial year i.e. March 31, 2026 and the date of this report.

7. SHARE CAPITAL

During the F.Y. 2025-26, there was no change in the authorized share capital of the Company. Further during the F.Y. 2025-26, the Company successfully launched an initial public offer (IPO) by way of an Offer for Sale (OFS) of 61,74,051 Equity Shares of face value of ' 10/- each at a price of ' 1,062/- per Equity Share including a premium of ' 1,052/- per Equity Share, aggregating total offer to ' 6,553.71 Millions. Since there was no primary issuance of shares, there was no change in share capital.

Thus, the authorized and paid-up share capital of the Company stands at ' 61,17,00,880/- and ' 61,16,00,880/- respectively as on date of this report.

8. RESERVES

During the year under review, Company has transferred ' 185.23 Crores to Reserves and Surplus on consolidated basis.

9. PUBLIC DEPOSITS

During the financial year under review, your Company has not accepted any deposits falling within the meaning of Chapter V of the Act read with the Rule 8(5) (v) of Companies (Accounts) Rules, 2014 (as amended).

10. PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS & SECURITIES PROVIDED

During the year under review, there are no loans given, investments made or guarantee given or security provided under Section 186 of the Act.

11. CREDIT RATING

Your Company would like to inform you that CARE Ratings Limited has Reaffirmed credit rating of CARE A+; Stable for Long Term Bank Facilities and CARE A+; Stable / CARE A1 for Long Term / Shortterm bank facilities.

12. DIRECTORS AND KEY MANAGERIAL PERSONNEL

The Board of Directors of the Company is led by the Non Executive Chairman and three Executive Directors and four Non Executive Independent Directors, one of whom is a Woman Director as on March 31, 2026. The Board of Directors of the Company is duly constituted. All the Directors of the Company have confirmed that they are not disqualified from being appointed as Directors in terms of Section 1 64 of the Act. The Independent Director of the Company have furnished declarations that they meet the criteria of independence as prescribed under the Act.

Your Company recognizes the importance of a diverse Board in its success. The Board has adopted the Policy on diversity of Board of Directors which sets out the approach to the diversity of the Board.

Detailed information on the Board and Committee composition, tenure of Directors, areas of expertise and other relevant details is available in the Corporate Governance Report, which forms part of this Annual Report.

Changes in the composition of the Board of Directors and Key Managerial Personnel during the F.Y. 2025-26 and up to the date of this report are outlined below:

Appointment(s) / re-appointment(s)

Mr. Ankur Mehta (DIN: 00385547), Joint Managing Director of the Company, who retired by rotation in terms of Section 152(6) of the Act, was re-appointed by the Members at the 21 st Annual General Meeting held on June 26, 2025.

Cessation(s) / Resignation(s)

Mr. Kshitij Sheth (DIN: 00125058) ceased as a Nominee Director of the Company with effect from close of business hours on April 23, 2025. The Board expressed its sincere gratitude for his invaluable contribution and all the guidance provided by Mr. Kshitij Sheth during his association with the Company.

Retirement by rotation

I n accordance with the provisions of Section 152 of the Act, read with the applicable rules and the Articles of Association of the Company, Mr. Nirav Mehta, Managing Director and Chief Executive Officer (DIN: 01644041), shall retire by rotation at the

forthcoming AGM and being eligible, offers himself for re-appointment. Resolution seeking Members approval for his re-appointment forms part of Notice of the ensuing AGM, as recommended by the Nomination and Remuneration Committee and the Board.

Necessary disclosures as required under the Act, Listing Regulations and Secretarial Standard-2 on General Meetings issued by the Institute of Company Secretaries of India, for the above- mentioned re-appointment is provided in the Notice of the 22 nd AGM of the Company.

Re-appointment of Non Executive Director and Chairman

Dr. Kirtikumar Mehta (DIN: 00385658), has been re-appointed by the Board, based on the recommendation of the Nomination and Remuneration Committee and in accordance with the provisions of the Act and the Listing Regulations, as a Non Executive Director and Chairman for a term of 5 (five) years commencing from April 01, 2027 to March 31,2032. Resolution seeking Members approval for his re-appointment forms part of Notice of the ensuing AGM, as recommended by the Nomination and Remuneration Committee and the Board.

Necessary disclosures as required under the Act, Listing Regulations and Secretarial Standard-2 on General Meetings issued by the Institute of Company Secretaries of India, for the abovementioned reappointment is provided in the Notice of the 22 nd AGM of the Company.

Changes in Key Managerial Personnel

Ms. Chetna Dharajiya was appointed as the Company Secretary, Compliance Officer and Key Managerial Personnel of the Company, effective April 18, 2025, as recommended by the Nomination and Remuneration Committee and approved by the Board.

As on the date of this report, the Company has the following Key Managerial Personnel, in accordance with Sections 2(51) and 203 of the Act:

Sr. No.	Name	Designation
1	Mr. Nirav Mehta	Managing Director and Chief Executive Officer
2	Mr. Ankur Mehta	Joint Managing Director
3	Mr. Viral Sitwala	Whole-Time Director

Sr. No.	Name	Designation
4	Mr. Bhavin Bhagat	Chief Financial Officer
5	Ms. Chetna	Company Secretary and
	Dharajiya	Compliance Officer

13. DECLARATION BY INDEPENDENT DIRECTORS

I n accordance with Section 149(7) of the Act, each Independent Director has confirmed to the Company that he or she meets the criteria of independence as laid down in Section 149(6) of the Act and is in compliance with Rule 6(3) of the Companies (Appointment and Qualifications of Directors) Rules, 2014 and Regulation 16(1)(b) of the Listing Regulations. Further, each Independent Director has affirmed compliance to the Code of Conduct for Independent Directors as prescribed in Schedule IV of the Act. In accordance with Regulation 25(8) of the Listing Regulations, they have declared that they are not aware of any existing or reasonably anticipated circumstances that could impair or impact their ability to exercise their duties with an objective independent judgement and without any external influence. The Board is of the opinion that the Independent Directors possess the requisite qualifications, skills, experience and expertise while upholding the highest standards of integrity and professionalism. The Board has taken on record such declarations.

14. DIRECTORS ' RESPONSIBILITY STATEMENT

I n terms of Section134(3)(c) of the Act, in relation to financial statements of the Company for the year ended March 31,2026, the Board of Directors state that:

i . the applicable Accounting Standards have

been followed in preparation of the financial statements and there are no material departures from the said standards;

ii. reasonable and prudent accounting policies have been used in preparation of the financial statements and that they have been consistently applied and that reasonable and prudent judgments and estimates have been made in respect of items not concluded by the year end, so as to give a true and fair view of the state of affairs of the Company as at March 31, 2026 and of the profit for the year ended on that date;

iii. proper and sufficient care has been taken for maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

iv. the financial statements have been prepared on a going concern basis;

v. proper internal financial controls were in place and were adequate and operating effectively; proper systems to ensure compliance with the provisions of applicable laws were in place and were adequate and operating effectively.

15. CHANGE IN THE NATURE OF BUSINESS

During the F.Y. 2025-26, there is no change in the nature of the business of the Company.

16. DETAILS OF LOANS AVAILED FROM DIRECTORS OR THEIR RELATIVES

During the F.Y. 2025-26, the Company has not availed any loan(s) from the Directors or their Relatives.

17. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

I n accordance with Regulation 34 of the Listing Regulations, the Management Discussion and Analysis Report for F.Y. 2025-26, has been presented in a distinct section, forming an integral part of this Annual Report.

18. BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT

In accordance with Regulation 34 of the Listing Regulations, the Business Responsibility & Sustainability Report for F.Y. 2025-26, has been presented in a distinct section, forming an integral part of this Annual Report.

19. CORPORATE GOVERNANCE REPORT

Pursuant to Regulation 34 read with Schedule V of the Listing Regulations and the applicable provisions of the Act, a separate Corporate Governance Report forms an integral part of this Annual Report.

The Company has obtained a certificate from M/s. Dhara Patel, Company Secretary Firm (M. No./CP no. 29198/10979), Secretarial Auditors for F.Y. 2025-26, confirming that none of the Directors on the Board of the Company have been debarred or disqualified by the Ministry of Corporate Affairs, Securities and Exchange Board of India or any other statutory authority from being appointed or continuing as Directors of the Company. The said certificate forms part of Corporate Governance Report as Annexure I.

The Company has obtained a certificate from M/s. Dhara Patel, Company Secretary Firm (M. No./CP no. 29198/10979), Secretarial Auditors for F.Y. 2025-26, confirming compliance with the conditions of Corporate Governance as stipulated under Clause E of Schedule V of the Listing Regulations. The said certificate is annexed to Corporate Governance Report as Annexure III.

20. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS

During the F.Y. 2025-26, 13 (thirteen) meetings of the Board of Directors were duly convened and held in compliance with the provisions of the Act and Secretarial Standard - 1 which includes 2 (two) Board Meetings held on December 02, 2025. The details of the meetings are as follows:

Sr. No. Date of Meeting

1 April 18, 2025

2 April 24, 2025

3 April 30, 2025

4 May 21,2025

5 August 26, 2025

6 November 11,2025

7 November 18, 2025

8 December 02, 2025 (two meetings)

9 December 05, 2025

10 December 10, 2025

11 January 02, 2026

12 February 02, 2026

The intervening gap between the meetings did not exceed 120 days, as prescribed under the Act and the Listing Regulations. The details of board meetings and the attendance of the Directors are provided in the Corporate Governance Report, which forms part of this Annual Report.

21. COMMITTEES OF THE BOARD

As required under the Act and Listing Regulations, the Company has constituted various Statutory Committees. Additionally, the Board has formed other governance committees and subcommittees to review specific business operations and governance matters including any specific items that the Board may decide to delegate. As on March 31,2026, the Board has constituted the following committees / sub-committees:

Statutory Committees:

• Audit Committee;

• Nomination and Remuneration Committee;

• Stakeholders Relationship Committee;

• Risk Management Committee;

• Corporate Social Responsibility Committee

Other Committees:

• Internal Committee of Directors

The Company had also constituted IPO Committee for matters related to IPO of the Company and Committee of Independent Directors for the purpose of providing its recommendation for justification of the price band of the shares issued by the Company in connection with the IPO of its equity shares.

All the recommendations made by the Board Committees, including the Audit Committee, as applicable, were duly reviewed and accepted by the Board.

Details of all the committees of the Board such as terms of reference, composition and meetings held during the year under review are disclosed in the Corporate Governance Report, which forms part of this Annual Report.

22. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

No significant and material order has been passed by the regulators, courts, tribunals impacting the going concern status and Company's operations in future. According to the Listing Regulations, the Company is committed to transparently disclose any significant events, important information or regulatory directives it receives, ensuring that stakeholders are kept informed on a regular basis.

23. NOMINATION AND REMUNERATION POLICY AND CRITERIA FOR APPOINTMENT OF DIRECTORS

Based on the recommendations of the Nomination and Remuneration Committee, the Board has adopted the Nomination and Remuneration Policy in accordance with the provisions of Section 178 of the Act and Regulation 19 read with Schedule II Part D of the Listing Regulations. The Nomination and Remuneration Policy, inter alia, lays down the criteria for appointment, cessation, remuneration and evaluation of Directors, Key Managerial Personnel and Senior Management personnel. The remuneration paid to the Directors is in accordance with the terms of the said Nomination and Remuneration Policy of the Company.

The Policy has been formulated, inter alia, with the following key objectives:

• To ensure that employee remuneration is in alignment with business strategy & objectives, organisation values and long-term interests of the organisation;

• To ensure objectivity, fairness and transparency in determination of employees remuneration;

• To ensure the level and composition of remuneration are reasonable and sufficient to attract, retain and motivate a high performance workforce and are in compliance with all applicable laws.

The salient features of the Nomination and Remuneration Policy have been outlined below:

• To formulate the criteria for determining qualification, competencies, positive attributes and independence for appointment of Directors (Executive and Non Executive) and persons who may be appointed in Senior Management, Key Managerial positions and recommend to the Board, policies relating to the remuneration for the Directors, Key Managerial Personnel, Senior Management and other employees;

• To lay down criteria for appointment and removal of Directors, Key Managerial Personnel and Senior Management;

• To approve and recommend the remuneration of Directors, Key Managerial Personnel and Senior Management of the Company involving a balance between fixed and incentive pay reflecting short and longterm performance objectives appropriate to the working of the Company and its goals;

• To specify the manner for effective evaluation of performance of Board, its committees and individual directors and review its implementation and compliance.

The Nomination and Remuneration Policy, as approved by the Board is available on the website of the Company at .

24. CORPORATE SOCIAL RESPONSIBILITY (CSR)

I n terms of the provisions of Section 135 of the Act read with Companies (Corporate Social Responsibility Policy) Rules, 2014 (as amended), the Board has constituted a Corporate Social Responsibility (CSR) Committee. The composition, terms of reference of the CSR Committee and meetings held during the year is provided in the Corporate Governance Report, which forms part of this Report.

The Board of Directors of the Company has adopted a CSR Policy on the recommendation of the CSR Committee and the CSR Policy has been amended from time to time to ensure its continued relevance and to align it with the amendments to applicable provisions of law. The CSR activities are undertaken in accordance with the said Policy.

The Annual Report on CSR in the prescribed form containing details of expenditure incurred by the Company and brief details on the CSR activities during the year is provided at Annexure A to this Report. The content of the CSR Policy adopted by the Board of Directors of the Company is available on the website of the Company at .

25. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information regarding conservation of energy, technology absorption and foreign exchange earnings / outgo as stipulated under Section 134(3) (m) of the Act read with the Companies (Accounts) Rules, 2014, appears at Annexure B to this report.

26. RISK MANAGEMENT

The Company has in place an Enterprise Risk Management framework for identification and management of risks. Pursuant to Regulation 21(4) read with para C (1) of Part D of Schedule II of the Listing Regulations, the Company has constituted a Risk Management Committee comprising members of the Board of Directors. The major risks identified by the businesses and functions are systematically addressed through mitigating actions on a quarterly

basis. The development and implementation of Risk Management Policy has been covered in the Management Discussion and Analysis Report, which forms part of Annual report.

27. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

I n accordance with the provisions of the Act and Listing Regulations, the Company has formulated a Policy on Related Party Transactions, which is available on the website of the Company at .

During F.Y. 2025-26, all contracts, arrangements, and transactions entered into with related parties as defined under Section 2(76) of the Act read with Companies (Specification of Definitions Details) Rules, 2014 were conducted in the ordinary course of business and on an arm's length basis. The Company did not engage in any transaction, contract or arrangement with related parties that could be considered material as per the Company's Policy on Related Party Transactions. Consequently, the disclosure of related party transactions in Form AOC-2 is not applicable.

All applicable related party transactions were duly presented before the Audit Committee and the Board. The disclosures pertaining to the related party transactions, in accordance with Ind AS-24, have been provided under Note No. 40 of the standalone financial statements and Note No. 40 of the consolidated financial statements.

28. ANNUAL RETURN

As required under the provisions of Section 92(3) and Section 134(3)(a) of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014 (including any statutory modification(s) or re-enactment thereof, for the time being in force), the Annual Return in Form No. MGT-7 is displayed on the website of the Company at .

29. AUDITORS

(a) Statutory Auditors:

In accordance with the provisions of Sections 139, 141,142 and other applicable provisions, if any, of the Act read with the Companies (Audit and Auditors) Rules, 2014 and

applicable provisions of the Listing Regulations, M/s. Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration No. 117366W), shall complete their two consecutive terms as the Statutory Auditors of the Company at the conclusion of the forthcoming 22 nd AGM to be held in the year 2026 and being eligible for rotation, shall cease to hold office thereafter.

Accordingly, based on the recommendation of the Audit Committee at their meeting held on May 11,2026, the Board of Directors at its meeting held on May 11,2026 has approved and recommended to the Members, the appointment of M/s. Walker Chandiok & Co LLP, Chartered Accountants (Firm Registration No. 001076N/N500013), as the Statutory Auditors of the Company, to hold office for a term of five consecutive years commencing from the conclusion of the 22 nd AGM to be held in the year 2026 till the conclusion of the 27 th AGM of the Company to be held in the year 2031, covering the financial years from F.Y. 2026-27 to F.Y. 2030-31, at such remuneration as may be determined by the Board of Directors from time to time.

M/s. Walker Chandiok & Co LLP, Chartered Accountants, have consented to act as the Statutory Auditors of the Company and have confirmed that their appointment, if approved, would be within the limits prescribed under the Act and the Rules made thereunder. They have further confirmed that they are not disqualified from being appointed as Statutory Auditors in terms of the provisions of the Act and the Listing Regulations.

The Statutory Auditors' Report for the F.Y. 2025-26 issued by M/s. Deloitte Haskins & Sells LLP does not contain any qualification, reservation or adverse remark relating to the maintenance of accounts and other matters connected therewith and is self-explanatory. Hence, no explanations or comments are required to be made by the Board on observation or comment of the auditors on financial transactions or matters which have any adverse effect on the functioning of the Company under Section 143(3)(f) of the Act.

The Statutory Auditors have also not reported any instances of fraud under Section 143(12) of the Act.

(b) Cost Auditors:

As per provision of Section 148(3) of the Act read with Rule 14 of the Companies (Audit and Auditors) Rules, 2014 and the Companies (Cost Records and Audit) Rules, 2014, the Company is required to appoint a cost auditor to audit the cost records of the Company.

The Company duly appointed M/s. Manish B. Analkat, Cost Accountants, Ahmedabad as the Cost Auditor of the Company vide Board Resolution dated May 21,2025 for audit of cost accounting records of its activities for the F.Y. ended March 31,2026. The Cost Audit Report for the F.Y. ended March 31,2026 was furnished to the Central Government by filing the same with ROC, within the statutory timeline.

Further, the Board of Directors had, re-appointed M/s. Manish B. Analkat as the Cost Auditors of the Company for the F.Y. 2026-27 and fixed their remuneration, subject to ratification by the Members in the ensuing AGM of the Company.

Accordingly, a resolution seeking Members ratification for the remuneration payable to M/s. Manish B. Analkat, Cost Auditor for the F.Y. 2026-27 is placed before the Members at the ensuing 22 nd AGM, which shall not exceed ' 85,000/- (Rupees Eighty Five Thousand only).

The Company has received certificate from the Cost Auditors for eligibility u/s 141(3)(g) of the Act for appointment as Cost Auditors and his independence and arm's length relationship with the Company.

(c) Internal Auditors:

I n accordance with the provisions of Section 138 of the Act read with Rule 13 of the Companies (Accounts) Rules, 2014 and applicable provisions of the Listing Regulations, the Company is required to appoint an Internal Auditor to conduct internal audit of its functions and activities and to ensure adequacy of internal control systems.

Accordingly, based on the recommendation of the Audit Committee at their meeting held on May 11,2026, the Board of Directors at its meeting held on May 11,2026 has approved the appointment of M/s. Shah & Shah Associates, Chartered Accountants, as the Internal Auditors of the Company for the F.Y. 2026-27, on such terms and conditions as may be mutually agreed between the Company and the said firm.

M/s. Shah & Shah Associates, Chartered Accountants, have consented to act as the Internal Auditors of the Company and have confirmed that they are eligible for appointment in accordance with the applicable provisions of the Act, and the Rules made thereunder.

The Internal Audit reports issued during the F.Y. 2025-26 did not contain any significant adverse observations, and the same were reviewed by the Audit Committee from time to time. Necessary actions, wherever required, have been taken by the management to strengthen the internal control systems.

During the year under review, the Company has appointed M/s. G. B. & Co., Chartered Accountants, as Internal Auditors of the Company for the F.Y. 2025-26.

(d) Secretarial Auditors & Secretarial Audit Report:

In accordance with Section 204 of the Act read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulation 24A of the Listing Regulations, the Board of Directors based on the recommendation of the Audit Committee, had approved and recommended to the Members, the appointment of M/s. Dhara Patel, Company Secretary Firm (ACS No.29198/ C.P.No.10979) as Secretarial Auditors of the Company to hold office for a term of five consecutive financial years, from F.Y. 202627 to F.Y. 2030-31. M/s. Dhara Patel is a Peer Reviewed Company Secretary Firm in terms of the certificate issued by the Peer Review Board of Institute of Companies Secretaries of India. The resolution for seeking approval of the members of the Company for the appointment of M/s. Dhara Patel, Company Secretary Firm (ACS No.29198/ C.P.No.10979) as the Secretarial Auditors is provided in the Notice of the ensuing AGM along with their brief profile and other relevant details.

M/s. Dhara Patel, Company Secretary Firm (ACS No.29198/ C.P.No.10979), have consented to act as the Secretarial Auditors of the Company and have confirmed that their appointment, if approved, would be within the prescribed limits under the Act & relevant Rules and Listing Regulations. They have also

affirmed that they are not disqualified from being appointed as the Secretarial Auditors under the applicable provisions of the Act, its Rules and the Listing Regulations.

The Secretarial Audit Report for the F.Y. 202526, issued by M/s. Dhara Patel, Company Secretary Firm (M. No./CP no. 29198/10979), Secretarial Auditors for F.Y. 2025-26, as attached as Annexure C to this report, does not contain any qualification, reservation or adverse remark. The Secretarial Auditors have not reported any instances of fraud under Section 143(12) of the Act.

Additionally, in compliance with Regulation 24A of the Listing Regulations, the Annual Secretarial Compliance Report for the F.Y. 2025-26, issued by M/s. Dhara Patel, Company Secretary Firm (M. No./CP no. 29198/10979), was filed with the stock exchanges. This report pertains to the Company's adherence to the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956 and the Rules, Regulations, Circulars and Guidelines issued thereunder, as applicable. The Annual Secretarial Compliance Report is available on the Company's website and can be accessed at the weblink .

30. DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISM

To comply with the provisions of Section 177 of the Act and Regulation 22 of the Listing Regulations, the Company has adopted a Whistle Blower / Vigil Mechanism Policy that applies to all stakeholders of the Company to report concerns about unethical behaviour. It also provides for adequate safeguards against the victimization of stakeholders who avail of the mechanism and allows direct access to the Chairman of the Audit Committee.

The Audit Committee oversees the functioning of the vigil mechanism and receives a summary of the whistleblowing incidents and actions taken. During F.Y. 2025-26, no individual was denied access to the Audit Committee for reporting concerns, if any.

Stakeholders have numerous ways to voice their concerns and are encouraged to report the same internally for resolution. The said Policy provides for adequate safeguards against retaliation

and access to the Audit Committee. The policy is uploaded on the Company's website at .

31. INTERNAL FINANCIAL CONTROLS

The Board has adopted the policies, processes and structure for ensuring the orderly and efficient conduct of its business with adequate and effective internal financial control across the organization, including adherence to the Company's policies, the safeguarding of assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial /disclosures. Also, the Company has an internal audit system commensurate with the size of the Company and periodic audits of the internal functions and processes of the Company are ensured by the Board of Directors.

The Company has devised systems to ensure compliance with the provisions of all applicable laws to the Company. During the year, M/s. G. B. & Co., Chartered Accountants, the Internal Auditors of the Company were assigned the responsibility for ensuring and reviewing the adequacy of legal compliance systems in the Company as required under the Act. Compliance with all laws applicable to the Company was checked by the Internal Auditor and no non-compliance with laws applicable to the Company was reported to the Company.

32. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL AND PARTICULARS OF EMPLOYEES

Pursuant to the provisions of Section 178 of the Act and Regulation 19 of Listing Regulations, Nomination and Remuneration Committee has formulated Policy relating to the Nomination and Remuneration for the Directors, Key Managerial Personnels, Senior Management and other employees, which is hosted on the website of the Company at code-and-policies/.

The salient features of Nomination and Remuneration Policy is outlined in point no. 23 of this Report.

The Board's Report includes the requisite disclosures pursuant to Section 197(12) of the Act read with

Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided in Annexure D to this Report.

The information required under Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms part of this Annual Report. Having regard to the provisions of Section 134 and Section 136 of the Companies Act, 2013, the Reports and Accounts are being sent to the Members excluding such information. However, the said information is available for inspection by the Members at the Registered Office of the Company during business hours on working days of the Company up to the date of ensuing 22 nd Annual General Meeting. Any Member interested in obtaining a copy of such statement may write to the Company Secretary at the Registered Office of the Company or by email to investor@ coronaremedies.com.

33. SUBSIDIARY COMPANIES / JOINT VENTURE / ASSOCIATE COMPANY

Details of Associate of the Company, La Chandra Pharmalab Private Limited is provided as part of the notes to the consolidated financial statements.

As on March 31, 2026, the Company has 1 (One) Associate Company, pursuant to the provisions of the Act. As per the provisions of the Act, there are no subsidiary or joint venture companies of the Company. Pursuant to the provisions of Section 129(3) of the Act read with Rule 5 of the Companies (Accounts) Rules, 2014 and in accordance with applicable Accounting Standards, a statement containing the salient features of the Financial Statements for the financial year ended March 31, 2026 of the Company's subsidiaries / associates in the prescribed Form AOC-1 is annexed as Annexure E to this Report. The Consolidated Financial Statements presented herein incorporate the financial results of La Chandra Pharmalab Private Limited (Associate Company).

I n accordance with Section 136 of the Act and the Listing Regulations, the Audited Financial Statements and related information of the Company and its Associate, wherever applicable, are available on the website of the Company at . The members desiring any information relating to the accounts or having any questions are requested to write to the Company

at complianceofficer@ coronaremedies.com at least ten days before the date of the AGM to enable the Management to keep the responses ready and expeditiously provide them at the AGM, as required.

34. ANNUAL EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND OF INDIVIDUAL DIRECTORS

The Board has carried out an annual evaluation of its own performance, its Committees, individual Directors (including Independent Directors) and Board as whole. In evaluating the performance of individual Directors, criteria such as knowledge and experience, participation in meetings, leadership and interpersonal skills were taken into consideration. Evaluation criteria for Committees include Committee mandate and composition, effectiveness of Committee functions, meetings of the Committee, Independence of the Committee from the Board and the decisions contributed by the Committee to the Board. The Directors expressed their satisfaction with the entire evaluation process.

35. FAMILIARISATION PROGRAMME FOR THE INDEPENDENT DIRECTOR

I n compliance with the requirements of Regulation 25(7) of the Listing Regulations, the Independent Directors have been updated with their roles, rights, responsibilities in the Company by enumerating them in their appointment letters. The Company periodically conducts Familiarisation Programme(s) for the Independent Directors to familiarise them with the Company's procedure and practices, giving presentations at regular intervals, meeting with senior management personnel from time to time, operations and functioning of the Company, regulatory changes and nature of the industry in which the Company operate etc. The details of the Familiarisation Programme are available on the website of the Company at .

36. PROTECTION OF WOMEN AT WORKPLACE

The Company has complied with the provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, during the financial year ended March 31,2026.

Number of Complaints received, disposed and pending during the F.Y. 2025-26:

No. of complaints	No. of	No. of cases
of sexual	complaints	pending for
harassment	disposed off	more than
received in the	during the year	ninety days
year
NIL

37. COMPLIANCE WITH MATERNITY BENEFIT ACT, 1961 / THE CODE ON SOCIAL SECURITY, 2020

The Company is in compliance with the applicable provisions relating to maternity benefits as prescribed under the Maternity Benefit Act, 1961 / the Code on Social Security, 2020 (as amended).

38. INSURANCE

As per the provisions of the Listing Regulations, the Company has taken a Directors and Officers Liability Insurance on behalf of all directors including Independent Directors and Senior Officers of the Company for indemnifying any of them against any liability alleged for any negligence, default, misfeasance, breach of duty or breach of trust.

39. INSTANCE OF FRAUD, IF ANY, REPORTED BY THE AUDITORS UNDER SUB SECTION (12) OF SECTION 143

There was no instance of fraud during the year under review, which required the Statutory Auditor to report to the Audit Committee and / or the Board under Section 143(12) of the Act read with Rules framed thereunder.

40. MAINTENANCE OF COST RECORDS

As per Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014, the Company is required to maintain cost records and accordingly, such accounts and records are maintained by the Company.

41. SECRETARIAL STANDARDS

During the F.Y. 2025-26, the Company has complied with all applicable secretarial standards issued by the Institute of Company Secretaries of India, as amended from time to time.

42. HUMAN RESOURCE DEVELOPMENT

The Company places great value on its human resources, considering them as vital assets essential for the Company's growth. The Company actively engages with its employees to enhance their skills and knowledge by providing them robust trainings. Company follows core philosophy of culture, which focuses on fostering internal growth, adaptability and humility. Moreover, the Company always strives to outperform its commitment which in turn helps to attract and retain top talent in the industry. Throughout the period, employee relations remained positive and cooperative across all levels, reflecting the Company's ongoing efforts to maintain such healthy relationships in the future. As of March 31, 2026, the Company has employed 5,153 permanent employees on the payroll across all its locations.

43. INDUSTRIAL RELATIONS

I ndustrial Relations for the period under review continued to be amiable.

44. PREVENTION OF INSIDER TRADING

The Company has adopted the Code of Conduct for Regulating, Monitoring and Reporting of Insider Trading in the securities (Code) and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information on April 25, 2025 which were further amended on November 11, 2025. The policy and procedures are framed to regulate, monitor and report trading by the Designated Persons along with their Immediate Relative(s) and for other aspects under the SEBI (Prohibition of Insider Trading) Regulations, 2015 (as amended), such as inquiry in case of leak of Unpublished Price Sensitive Information (UPSI) or suspected leak of UPSI is forming part of the Code. The Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information is available on the website of the Company at .

45. OTHER DISCLOSURES

During the F.Y. 2025-26:

- No equity shares were issued with differential rights as to dividend, voting or otherwise;

- No equity shares (including sweat equity shares) were issued to employees of your Company under any scheme;

- The Company has not issued any sweat equity shares or equity shares with differential voting rights as to dividend, voting or otherwise;

- There was no instance of one-time settlement against the loans obtained from banks and financial institution;

- There was no application made nor any proceeding was pending under the Insolvency and Bankruptcy Code, 2016;

- There were no materially significant related party transactions which could have potential conflict with interests of the Company at large;

- No revisions were made in the financial statements and Directors' Report of your Company.

46. ACKNOWLEDGEMENTS

The Board of Directors extend their sincere gratitude to the Government(s), Regulatory Authorities, Stock Exchanges, Company Customers, Business Partners, Distributors, Suppliers, Medical Practitioners, Banks and all other Stakeholders for the invaluable support, cooperation, enduring trust and staunch confidence in the Company. Your Directors would also like to take this opportunity to express their appreciation for the dedicated efforts of the employees at all levels, to ensure that your Company continues to thrive and flourish.

For and on behalf of the Board of Directors CORONA Remedies Limited

(formerly known as CORONA Remedies Private Limited)

	Nirav Mehta	Ankur Mehta
	Managing Director and	Joint Managing Director
Place: Ahmedabad	Chief Executive Officer	DIN:00385547
Date: May 11,2026	DIN: 01644041