Orchid Pharma Limited has informed the Exchange regarding Change in Auditors of the company.
ORCHPHARMA · price
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Awaiting price reaction for this filing.
The Board of Orchid Pharma approved Q1 FY26 (quarter ended June 30, 2025) financial results. Standalone net profit fell to Rs. 18.2 crore from Rs. 29.1 crore in Q1 FY25, while net sales dropped to Rs. 172.9 crore from Rs. 244.4 crore YoY. The company appointed a new internal auditor (M/s. TRC Corporate Consulting Pvt. Ltd.) and cost auditor (M/s. J. Karthikeyan & Associates) for FY26, and a new secretarial auditor (M/s. S. Dhanapal & Associates) for five years (FY26 to FY30). Statutory auditor M/s. Singhi & Co. gave an unmodified opinion on standalone results but a modified opinion on consolidated results, as three US subsidiaries' financials were not independently reviewed. The AGM is set for September 20, 2025. The company also updated QIP fund utilization — Rs. 269.7 crore used out of Rs. 391.8 crore raised, with Rs. 124.85 crore still parked in fixed deposits.
Weak Q1 earnings (revenue and profit both down sharply YoY) could weigh on the stock in the short term. The auditor changes are routine appointments and not resignations, so no governance red flag. The ongoing amalgamation of holding company Dhanuka Laboratories with Orchid Pharma remains a key event to watch.