Orchasp Ltd Board Approves Q2 FY27 Unaudited Financial Results
Orchasp Ltd announced that its Board of Directors, in a meeting held on November 11, 2026, has approved the Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half-year ended September 30, 2026. The company also received a Limited Review Report from its auditors, JMT & Associates. The auditor's report highlighted several concerns, including the carrying value of investments in a defunct Portuguese subsidiary, non-payment of Tax Deducted at Source (TDS) and other statutory dues, and trade payables/receivables outstanding for over six months. The auditor expressed an inability to comment on the appropriateness of the investment carrying value and the extent of outstanding balances due to insufficient information.
Key Highlights
- Board approved Q2 FY27 unaudited financial results (Standalone & Consolidated).
- Auditor raised concerns over subsidiary investment carrying value.
- Company has pending TDS and other statutory dues.
- Significant trade payables and receivables are overdue.
- Auditor issued a qualified conclusion on the financial statements.
Price Impact
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