Appointment of Internal Auditors of ther Company.
PALASHSECU · price
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Palash Securities reported audited standalone results for FY2026 with total income of Rs 4,080.3 lakhs, down from Rs 5,396.1 lakhs in FY2025. Net profit after tax stood at Rs 2,360.8 lakhs compared to Rs 3,432.07 lakhs in the previous year. On a consolidated basis, the company reported a net loss of Rs 1,171.68 lakhs versus a loss of Rs 762.79 lakhs last year, with total income of Rs 4,939.44 lakhs. Total consolidated assets declined to Rs 5,242.44 lakhs from Rs 6,890.51 lakhs. The Board appointed M/s Singhi & Co. as Statutory Auditors for 5 years and M/s M Parasrampuria & Co. as Internal Auditors for FY 2026-27. No dividend was declared for FY2025-26. The auditors flagged that associate Morton Foods Limited has incurred a net loss of Rs 1,668.76 lakhs with substantially eroded net worth, indicating material uncertainty about its ability to continue as a going concern.
The significant decline in standalone profitability and consolidated losses, combined with flagging of going concern issues at the associate company, may concern investors. The decision not to declare dividend aligns with the weaker financial performance.