Orchasp Limited (ORCHASP)
₹1.13 -8.87% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Orchasp's revenue was ₹1.6 Cr (-77.0% year on year, -63.0% on the previous quarter), and net profit ₹0.1 Cr (-96.4% year on year); the operating margin was -252.8%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹1.6 | -77.0% | -63.0% |
| Operating profit | ₹-4.1 | to loss | to loss |
| Net profit | ₹0.1 | -96.4% | -42.1% |
| EPS (₹) | 0.00 | -100.0% | -100.0% |
| Operating margin | -252.8% | — | — |
ORCHASP delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 54.78% of the ORCHASP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 77.92%. That is lower than usual for this stock. Turnover was only ₹24 lakh, so a handful of trades can move this figure. It traded 7.4 times its average daily volume. It closed at its lower price band (circuit) on 16 Oct.
Delivery in the last 5 sessions: 81.1% · 58.0% · 71.3% · 77.1% · 54.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Orchasp Limited informed the exchanges of the demise of promoter Mr. Satya Shiva Kumar Kanakadandi on the night of October 11, 2026. He held 42,605 equity shares, representing 0.01% of the company's equity capital. In accordance with Regulation 31A(6)(c) of SEBI LODR Regulations, he will cease to be part of the promoter group. The transmission of his shares to his nominee is being initiated.
- Demise of promoter Mr. Satya Shiva Kumar Kanakadandi occurred on October 11, 2026
- Deceased held 42,605 equity shares, translating to 0.01% equity ownership
- Promoter group status ceases per SEBI LODR Regulation 31A(6)(c)
- Transmission of the 42,605 shares to nominee will be put in process
Orchasp Limited has submitted voting results and the scrutinizer's report for its 32nd Annual General Meeting held on September 30, 2026. Shareholders approved all 7 resolutions with over 99.9% majority votes cast, covering standard annual adoptions, director appointments, and secretarial auditor appointments. Crucially, Resolution 6 approving a preferential issue of equity shares to M/s Wahtulmsylh Llmqawlat was passed with 99.99% votes in favour (17,87,52,379 shares). A total of 17,87,74,811 valid votes were polled across 46,257 shareholders on record.
- All 7 resolutions passed with >=99.99% approval among polled votes at the 32nd AGM on September 30, 2026
- Resolution 6 passed approving preferential equity share issue to M/s Wahtulmsylh Llmqawlat (17,87,52,379 votes in favour vs 22,432 against)
- Total valid votes polled were 17,87,74,811 out of 34,64,25,366 total company shares (~51.60% voter turnout)
- Total registered shareholder count stood at 46,257 as of the record date
Orchasp Limited conducted its 32nd Annual General Meeting on September 30, 2026, with 279 members in attendance. Key resolutions tabled included the adoption of FY26 financial statements and director appointments. Notably, a special resolution was voted on to issue equity shares on a preferential basis to M/s Wahtulmsylh Llmqawlat. Voting results and scrutinizer reports are pending declaration.
- 32nd AGM concluded on September 30, 2026, with 279 members attending
- Special resolution proposed to issue equity shares on a preferential basis to M/s Wahtulmsylh Llmqawlat
- Remote e-voting was held from September 27 to September 29, 2026
- Adopted FY26 financial statements where company posted Rs 21.25 cr revenue and Rs 1.05 cr PAT
Orchasp Limited has issued a corrigendum to its 32nd AGM notice dated August 31, 2026, following inputs from stock exchanges regarding its in-principle application for a preferential issue. The amendments adjust disclosures, fix the relevant date as August 31, 2026, and remove the words 'and warrants', confirming that the issue is restricted to equity shares. The company clarified that there is no change in the computed minimum price under SEBI ICDR Regulation 164 or the proposed offer price.
- AGM scheduled for September 30, 2026, at 10.30 AM via VC/OAVM
- Relevant date under SEBI ICDR specified as August 31, 2026
- Deleted 'and warrants' from explanatory statements, confirming equity-only issuance
- No change to minimum price under SEBI ICDR Regulation 164 or proposed offer price
Orchasp Limited has notified the exchanges that its 32nd Annual General Meeting (AGM) will be held on Wednesday, September 30, 2026, at 10:30 AM IST via Video Conferencing. The cut-off date to determine shareholder eligibility for voting is Wednesday, September 23, 2026. Remote e-voting will run from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM). The company's share transfer books and register of members will remain closed from September 24 to September 30, 2026.
- 32nd Annual General Meeting scheduled for September 30, 2026, at 10:30 AM IST via VC/OAVM
- Cut-off date for determining e-voting entitlement set as September 23, 2026
- Remote e-voting window opens September 27, 2026 (09:00 AM) and closes September 29, 2026 (05:00 PM)
- Book closure period defined from September 24, 2026 to September 30, 2026 (both days inclusive)
Orchasp Limited's Board approved the conversion of an outstanding loan into equity by issuing up to 1.50 crore equity shares of face value ₹2 each at ₹4.74 per share (including a premium of ₹2.74), aggregating to ₹7.11 crore. The allotment is being made on a preferential basis to promoter group entity Wahtulmsylh Limgawlat, which will hold a 4.15% stake post-issuance. The transaction value represents approximately 19.2% of the company's current market cap of ₹37 crore. The issuance is subject to shareholder approval at the AGM scheduled for September 30, 2026.
- Board approved issuance of 1,50,00,000 equity shares of face value ₹2 at ₹4.74 each (premium of ₹2.74).
- Total fundraise/loan conversion size stands at ₹7.11 crore (~19.2% of ₹37 crore market capitalization).
- Post-allotment, the promoter group entity will hold a 4.15% equity stake.
- Shareholder approval will be sought at the AGM on September 30, 2026, with the relevant date set as August 28, 2026.
- Board also approved the appointments of Sirisha Pattapurathi, Srinivasu Sunkara, and Ravi Prasad Muthyam as directors.
Orchasp Limited has approved the conversion of an outstanding loan of ₹7.11 Cr due to promoter group entity Wahtulmsylh Limgawlat into equity shares on a preferential basis. The company will issue up to 1,50,00,000 equity shares (face value ₹2) at an issue price of ₹4.74 per share, including a premium of ₹2.74. The conversion amount represents ~19.2% of the company's current market capitalization (₹37 Cr) and will result in a 2.12% post-issue holding for the allottee. The transaction is subject to shareholder approval at the upcoming Annual General Meeting scheduled for September 30, 2026.
- Conversion of promoter loan of ₹7.11 Cr into up to 1,50,00,000 equity shares on a preferential basis
- Issue price set at ₹4.74 per share (Face Value ₹2 plus ₹2.74 premium), substantially above recent trading levels
- Allottee post-conversion equity stake to stand at 2.12% (1.50 Cr shares)
- Relevant date fixed as August 28, 2026 per SEBI ICDR regulations
- Shareholder approval to be sought at the AGM on September 30, 2026
Orchasp Limited's Board approved the conversion of an outstanding promoter group loan into up to 1.50 crore equity shares at Rs 4.74 per share (face value Rs 2 plus premium of Rs 2.74), aggregating to Rs 7.11 crore on a preferential basis. The proposed issue represents approximately 19.2% of the company's current market cap (Rs 37 crore) and will result in a 2.12% post-issue shareholding for the allottee. Additionally, the Board approved the appointment of Mrs. Sirisha Pattapurathi as a Non-Executive Director and two Independent Directors for 5-year terms, subject to shareholder approval at the AGM scheduled for September 30, 2026.
- Approved conversion of Rs 7.11 crore promoter group debt into up to 1,50,00,000 equity shares on a preferential basis.
- Issue price set at Rs 4.74 per share (Rs 2 face value + Rs 2.74 premium), well above the prevailing market price of Rs 1.40.
- Post-allotment holding for the allottee (Wahtulmsylh Limgawlat) will be 1,50,00,000 shares, representing 2.12% of equity.
- Appointed two Independent Directors (Srinivasu Sunkara and Ravi Prasad Muthyam) for 5-year terms alongside Non-Executive Director Sirisha Pattapurathi.
- Annual General Meeting convened for September 30, 2026 to seek shareholder approval.
Orchasp Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the period ending June 30, 2026. The certificate, issued by Aarthi Consultants Pvt Ltd, confirms that physical share certificates received for dematerialization were processed within the mandated 15-day window. This process includes the mutilation and cancellation of certificates and updating depository records. This is a standard administrative filing required for all listed companies in India.
- Covers the quarterly period from April 1, 2026, to June 30, 2026
- Confirms compliance with the 15-day processing timeline for dematerialization requests
- Certificate issued by Registrar and Share Transfer Agent (RTA) Aarthi Consultants Pvt Ltd on July 3, 2026
- Confirms that securities comprised in the certificates are listed on the stock exchanges
The promoter group of Orchasp Limited has filed its annual declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The group holds 6,40,14,368 equity shares, representing 18.48% of the company's total equity. Crucially, the promoters confirmed that zero shares were encumbered or pledged, directly or indirectly, during the entire financial year. This is a standard compliance filing confirming the absence of debt-related liens on promoter equity.
- Total promoter and promoter group holding stands at 6,40,14,368 equity shares
- Promoter group controls 18.48% of the total share capital as of March 31, 2026
- Zero shares were encumbered (pledged) during the financial year 2025-26
- Mrs. Rajeswari Pattapurathi is the largest holder within the group with a 16.16% stake
Orchasp Limited has informed the stock exchanges that its trading window will be closed starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the declaration of the unaudited standalone and consolidated financial results for the first quarter ending June 30, 2026. The restriction applies to promoters, directors, and designated persons, lasting until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced at a later time.
- Trading window closure begins on July 1, 2026, for all designated persons and relatives.
- Closure is related to the upcoming Q1 financial results for the period ending June 30, 2026.
- The window will remain shut until 48 hours after the announcement of standalone and consolidated results.
- The official date for the Board Meeting to approve the results is yet to be determined.
Orchasp Limited returned to profitability in FY26, reporting a standalone net profit of ₹105.20 lakhs compared to a massive loss of ₹1,052.35 lakhs in FY25. However, the company's Q4 revenue dropped significantly to ₹161.26 lakhs from ₹700.96 lakhs year-on-year. A major concern for investors is the Auditor's Qualified Opinion, which highlights a ₹68.25 crore investment in a non-operational Portuguese subsidiary and the non-payment of statutory dues like TDS.
- Company turned profitable in FY26 with a net profit of ₹105.20 lakhs vs a loss of ₹1,052.35 lakhs in FY25.
- Auditor issued a qualified opinion regarding the ₹6,825 lakh carrying value of a non-operational subsidiary facing cancellation of incorporation.
- Q4 revenue from operations saw a sharp decline to ₹161.26 lakhs compared to ₹700.96 lakhs in the same quarter last year.
- Auditors reported non-payment of Tax Deducted at Source (TDS) and other statutory dues up to March 31, 2026.
- Trade receivables and payables outstanding for over 6 months lack confirmation, making recoverability uncertain.
Orchasp Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended March 31, 2026, as required by SEBI's Prohibition of Insider Trading regulations. The company confirmed that it maintains a non-tamperable internal database to track Unpublished Price Sensitive Information (UPSI) with an audit trail. During the quarter, the company identified and recorded 1 specific event in the database. The practicing company secretary reported zero instances of non-compliance for the period.
- Successfully captured 1 required event in the Structured Digital Database during the quarter.
- Certified compliance with Regulation 3(5) and 3(6) of SEBI (PIT) Regulations, 2015.
- Database is confirmed to be non-tamperable with an audit trail maintained for 8 years.
- Reported NIL non-compliance issues for the period ended March 31, 2026.
Orchasp Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Aarthi Consultants Pvt Ltd, confirms that share certificates received for dematerialization during the period from January 1, 2026, to March 31, 2026, were processed within the mandated 15-day timeframe. This is a standard regulatory procedure to ensure that physical share certificates are properly cancelled and replaced by electronic records in the depository system. The filing indicates the company is maintaining its routine administrative and regulatory obligations.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Registrar and Share Transfer Agent, Aarthi Consultants Pvt Ltd, confirmed processing of demat requests within 15 days.
- Confirmation that physical certificates were mutilated and cancelled after dematerialization.
- The depository's name has been substituted as the registered owner in the company's records for the processed shares.
Orchasp Limited has received a Spot Memo from the GST Audit authority in Hyderabad for the period 2020-21 to 2023-24. The memo alleges non-payment of GST on the import of services under the Reverse Charge Mechanism (RCM). The quantified tax demand stands at ₹12.59 Crores, excluding interest and penalties which are yet to be determined. The company is currently evaluating the legal and financial implications of this notice.
- Tax demand of ₹12,58,59,446 (approx. ₹12.59 Crores) issued by the Commissioner of GST, Hyderabad.
- The audit covers a four-year period from financial year 2020-21 to 2023-24.
- Alleged violation involves non-payment of GST on Import of Services under Section 20 of the IGST Act.
- Interest and penalties are yet to be quantified and will be additional to the base tax amount.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations for H1 FY26 reached INR 1,528.99 Lakhs, representing a significant growth of 89.6% compared to INR 806.36 Lakhs in H1 FY25. Segment-specific growth percentages are not disclosed as the company reports as a single unit.
Geographic Revenue Split
Not disclosed in available documents, though the company is expanding into the USA with the incorporation of Orchasp Inc in December 2025 to market its healthcare platform.
Profitability Margins
Net profit margin for H1 FY26 stood at 4.9% (INR 74.99 Lakhs profit on INR 1,528.99 Lakhs revenue), a massive recovery from a net loss margin of -174.2% in H1 FY25 (INR 1,404.74 Lakhs loss). This turnaround is primarily due to a 96.2% reduction in 'Other Expenses' from INR 1,547.47 Lakhs to INR 58.66 Lakhs.
EBITDA Margin
Operating profit before working capital changes was INR 99.62 Lakhs (6.5% margin) in H1 FY26, compared to an operating loss of INR 1,393.20 Lakhs in H1 FY25. This indicates a return to core operational viability.
Capital Expenditure
Additions to tangible/intangible assets were minimal at INR 0.12 Lakhs in H1 FY26, down 97.2% from INR 4.32 Lakhs in H1 FY25. The company is focusing on reviving its digital assets rather than heavy physical infrastructure.
Credit Rating & Borrowing
Finance costs were zero in H1 FY26 compared to INR 14.80 Lakhs in H1 FY25, suggesting a reduction in interest-bearing debt. Short-term borrowings increased by INR 20.39 Lakhs during the period.
Operational Drivers
Raw Materials
As an IT services firm, the primary 'raw material' is human capital. Employee benefit expenses represent 89.5% of total revenue (INR 1,369.23 Lakhs).
Import Sources
Not applicable for IT services; however, the company is sourcing market access from the USA through its new subsidiary.
Key Suppliers
Not disclosed; the company relies on technology professionals rather than material suppliers.
Capacity Expansion
Current capacity is based on its technology workforce. Planned expansion includes the incorporation of Orchasp Inc (USA) with a share capital of USD 10,000 (INR ~8.3 Lakhs) to scale the 'indusayush' platform globally.
Raw Material Costs
Cost of services/sub-contract costs were INR 1.48 Lakhs in H1 FY26, representing only 0.1% of revenue, down 21.7% from INR 1.89 Lakhs YoY.
Manufacturing Efficiency
Not applicable. Efficiency is measured by the ability to complete fixed-price and fixed-time contracts without cost overruns.
Logistics & Distribution
Distribution is digital via Android and iOS playstores for the 'indusayush' mobile app.
Strategic Growth
Growth Strategy
Growth will be driven by the international launch of the 'indusayush' healthcare platform (www.indusayush.in). The strategy involves incorporating a new US subsidiary, Orchasp Inc, to host mobile apps on global stores and market the platform to a wider audience, bypassing the higher costs of reviving the dormant 'Cybermate Infotek Limited Inc'.
Products & Services
Application development, maintenance, business process outsourcing (BPO) segments, and the 'indusayush' healthcare platform/mobile application.
Brand Portfolio
ORCHASP, indusayush.
New Products/Services
Revival and global marketing of the 'indusayush' healthcare platform via the new US subsidiary.
Market Expansion
Expansion into the USA market through the incorporation of Orchasp Inc in December 2025.
Market Share & Ranking
Not disclosed; identified as a player in the 'mid-segment' technology space.
External Factors
Industry Trends
The industry is shifting toward performance-linked talent packages and mobile-first healthcare platforms. Orchasp is positioning itself by developing the 'indusayush' app and implementing E-SOPs to stay competitive.
Competitive Landscape
Competes with small and mid-sized companies for Government contracts and large corporations for BPO and application development.
Competitive Moat
The company's moat is built around its proprietary 'indusayush' platform. Sustainability depends on successful global adoption and the ability to maintain a skilled workforce to support the platform.
Macro Economic Sensitivity
Highly sensitive to the general economic environment, which dictates the Risk Management Framework and the availability of long-term IT contracts.
Consumer Behavior
Shift toward mobile-based healthcare services is the primary driver for the 'indusayush' platform development.
Geopolitical Risks
The decision to incorporate in the USA suggests a strategic move to mitigate regional concentration and tap into global tech spending.
Regulatory & Governance
Industry Regulations
Operations are subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations. The company recently faced a disallowance by the BSE regarding the allotment of equity shares pertaining to interest accrued on FCCBs.
Taxation Policy Impact
Current tax for H1 FY26 was INR 26.83 Lakhs. The company monitors tax holidays and subsidies as part of its policy risk management.
Legal Contingencies
The company is dealing with the 'disallowance of allotment of equity shares by the BSE' related to interest on Foreign Currency Convertible Bonds (FCCBs), which resulted in a decrease in share capital compared to the previous year.
Risk Analysis
Key Uncertainties
Revenue and expenses are described as 'difficult to predict' and can vary significantly. There is a risk of being unable to recoup investments made in software products like 'indusayush'.
Geographic Concentration Risk
Currently concentrated in India (Hyderabad/Secunderabad), but actively diversifying to the USA.
Third Party Dependencies
High dependency on the BSE for regulatory approvals regarding share capital and on global app stores (Android/iOS) for product distribution.
Technology Obsolescence Risk
High risk; success depends on staying current with technology trends to retain skilled professionals and provide competitive BPO/development services.
Credit & Counterparty Risk
Trade receivables stood at INR 1,503.21 Lakhs as of Sept 30, 2025, indicating significant credit exposure relative to H1 revenue.
