Orchasp Limited (CIN: L72200TG1994PLC017485) announced its Q2 2025 financial results during a Board Meeting held on November 11, 2025. The company approved its Standalone and Consolidated Unaudited Financial Results, as well as the Statement of Assets and Liabilities and Cash Flow Statement for the quarter and half-year ending September 30, 2025. Notably, the results were accompanied by a Limited Review Report from its auditors, JMT & Associates, which delivered a qualified opinion on the financial statements.

The auditor's report raised several concerns regarding the company’s financial position. Among the issues highlighted was the carrying value of investments amounting to ₹6,825 lakhs in a wholly-owned subsidiary in Portugal, which has been non-operational for over four years. The subsidiary has defaulted on statutory filings, leading to a cancellation notice from Portuguese authorities. Furthermore, Orchasp has failed to pay Tax Deducted at Source (TDS) and other statutory dues as of September 30, 2025. The auditor also pointed out that trade receivables are overdue by more than six months, complicating the assessment of the balances' collectability.

Despite these qualifications, the auditors concluded that aside from the issues mentioned, nothing significant came to their attention that would suggest the financial statements are misleading. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) and are subject to further scrutiny as the company continues its operations. The outcomes from this meeting are crucial for investors and stakeholders, as they reflect the company's ongoing challenges and financial health.