Remus Pharmaceuticals unit faces IRS penalty of USD 14,247.38

remus pharmaceuticals disclosed that its stepdown subsidiary, Espee Biopharma & Finechem LLC, has been penalised USD 14,247.38 by the US Internal Revenue Service (IRS) for alleged tax non-payment and late filing. The company stated that the subsidiary disputes the penalty as the taxes have already been paid, and it is currently engaging with the authority to resolve the matter. There is no material impact on the financials or operations of Remus Pharmaceuticals or its subsidiary due to this notice.

The notice, dated June 15, 2026, was received by the subsidiary on June 19, 2026. It originates from the Department of the Treasury Internal Revenue Service in Ogden, UT. The penalty was imposed following allegations of non-payment of tax and late filing of tax due by Espee Biopharma & Finechem LLC.

Details of the Regulatory Notice

The filing submitted to the National Stock Exchange of India Limited provided specific particulars regarding the order received from the US tax authority. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sr. No.	Particulars	Description
1.	Name of Authority	Department of the Treasury Internal Revenue Service, Ogden, UT 84201-0039 (“IRS”).
2.	Nature and details of the action(s) taken, initiated or order(s) passed	Penalty on alleged non-payment of tax imposed by IRS on Espee Biopharma & Finechem LLC, Stepdown Subsidiary of the Company (“EBFL”).
3.	Date of receipt of direction or order	Notice dated June 15, 2026, received on June 19, 2026.
4.	Details of the violation(s)/ contravention(s) committed or alleged to be committed	Due to alleged non-payment of tax and late filing of tax by EBFL to IRS, a penalty of USD 14,247.38 has been imposed on EBFL.
5.	Impact on financial, operation or other activities of the listed entity	There is no material impact on financials, operations or other activities of the Company and EBFL due to the said notice.

Subsidiary's Response and Impact

Espee Biopharma & Finechem LLC has contested the validity of the penalty. The subsidiary believes that since the said tax has already been paid, there is no case for imposing a penalty. It is currently in the process of taking up the matter with the IRS to seek necessary clarifications and corrections.

Remus Pharmaceuticals clarified that the development does not have a quantifiable monetary impact on its operations. The company confirmed that it has informed the exchanges regarding the receipt of the notice and the subsequent steps being taken by its subsidiary to address the issue.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.77%	+3.02%	+4.77%	+8.78%	-55.67%	-66.34%

Remus Pharmaceuticals reported a 20% year-on-year increase in consolidated net profit to ₹46 crore for the financial year ended March 31, 2026, supported by a 38% rise in revenue to ₹854 crore. The company’s operational EBITDA grew 24% to ₹57 crore, reflecting strong execution across its global markets. For the second half of FY26, consolidated revenue stood at ₹453 crore, a 30% increase, with a net profit of ₹25 crore, up 20% year-on-year.

The financial performance was driven by a strategic mix of B2B and emerging B2C businesses. The B2C segment’s contribution to revenue increased from 4% in the previous year to 14% in FY26, while the B2B segment contributed the remaining 86%. Management attributed the growth to expanding global footprint, particularly in Latin America, and the launch of niche products in the CNS and urology portfolios.

Financial Highlights

The company disclosed the following financial metrics for the period under review:

Metric	H2 FY26 (Standalone)	H2 FY26 (Consolidated)	FY26 (Consolidated)
Revenue from Operations	₹47 crore	₹453 crore	₹854 crore
YoY Revenue Growth	14%	30%	38%
Operational EBITDA	₹15 crore	₹30 crore	₹57 crore
YoY EBITDA Growth	2%	22%	24%
Net Profit	₹13 crore	₹25 crore	₹46 crore
YoY Net Profit Growth	19%	20%	20%
EBITDA Margin	31.85%	6.57%	-
PAT Margin	26.96%	5.43%	-

Operational Expansion

During the period, Remus Pharmaceuticals expanded its presence in Latin America through product in-licensing and regulatory filings. Key launches included Rifaximin and Fexofenadine in Mexico, Chile, and Peru, and Rivastigmine patches in Venezuela. The company also expanded its urology portfolio with the launch of Mirabegron across four Latin American countries.

In Asia and ASEAN markets, the company licensed Peg-filgrastim and Filgrastim PFS injections for the Philippines and Vietnam. In the Middle East, it secured a NUPCO tender with Saudi Arabia for Topiramate capsules. Additionally, the company initiated filings for semaglutide tablets and injections in non-patented emerging markets, marking its entry into the GLP-1 and anti-obesity segment.

Strategic Outlook

Management highlighted that the B2C segment is expected to grow by approximately 30% in FY27, while the B2B segment is projected to grow between 25% and 30%. The company plans to launch 26 products in Bolivia under the B2C segment in the coming months and has registered 126 brand names and trademarks to support this expansion.

Margins in FY26 were impacted by investments in R&D and bioequivalence studies, which management views as critical for accessing high-barrier markets like Chile and Mexico. The company expects these investments to yield better margins in the current financial year as products with clinical trials are commercialized in markets with fewer competitors.