Orchasp Limited releases unaudited Q1 FY2026 results; Audit qualified due to investment status and outstanding statutory dues
Orchasp Limited has released its unaudited financial results for the first quarter of the financial year 2026, covering the period up to June 30, 2026. The company's Board of Directors approved these results at a meeting held on August 11, 2026.The results, available both in standalone and consolidated forms, showed Total Revenue reaching 271.79 lakhs for the quarter ended June 30, 2026. Profit after tax was reported at 28.00 lakhs.
Financial Performance Overview (Q1 FY2026)
The financial performance details across the reporting periods are summarized below:| Metric | Quarter Ended 30.06.2026 (Unaudited) | Quarter Ended 30.06.2025 (Unaudited) | Q ended 31.03.2026 (Audited) | Year Ended 31.03.2026 (Audited) |
|---|---|---|---|---|
| Total Revenue | 271.79 lakhs | 777.71 lakhs | 547.58 lakhs | 2,519.47 lakhs |
| Profit/Net Profit After Tax | 28.00 lakhs | 54.22 lakhs | 11.19 lakhs | 105.20 lakhs |
Audit Opinion and Caveats
The results were reviewed by the statutory auditors, M/s JMT & Associates. The auditor issued a qualified opinion on both the unaudited standalone and consolidated financial statements due to several material concerns related to subsidiary investments, receivables, payables, and compliance matters.Key points leading to the qualification included:
- Wholly Owned Subsidiary Investment: The auditors noted that Rs. 6,825 lakhs was held as investment in Cybermate International, Unipessoal, LDA, a wholly owned subsidiary based in Portugal. The incorporation of this Portuguese entity had been cancelled by Portuguese authorities due to non-compliance with statutory filing requirements. The company has since transferred this investment and associated operations/assets to a new wholly owned subsidiary, Orchasp Inc, in the USA. In the absence of sufficient clarity on the US subsidiary's financial position, auditors could not comment on the appropriate carrying value or determine if an impairment provision was necessary.
- Trade Receivables and Payables: Both trade receivables and trade payables have been outstanding for a period exceeding six months. Without confirmations related to these balances, the auditors were unable to comment fully on the extent to which these items are recoverable or payable.
- Statutory Dues: The company has not paid Tax Deducted at Source (TDS) payments and other statutory dues up to July 30, 2026.
In response to the qualified audit findings, the company stated that delays in remitting statutory dues were due to temporary liquidity constraints and that they are taking necessary steps toward regularization. The company also indicated it was hopeful of realizing a substantial portion of outstanding trade receivables during the ensuing quarter.
ORCHASP Stock Price Movement
Today, Orchasp Limited shares edged higher to settle at ₹1.55 after a positive trading session, gaining 1.97%. The equity saw a total traded volume of 134,622 shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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