Outcome of Board Meeting held on 15th May, 2026
PALASHSECU · price
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Palash Securities Ltd reported standalone FY26 net profit of ₹236.08 lakhs, down significantly from ₹503.48 lakhs in FY25, primarily due to lower interest and dividend income. Consolidated results show a dramatic turnaround with net profit of ₹11,716.68 lakhs versus a loss of ₹7,651.90 lakhs in FY25, largely driven by a one-time gain of ₹4,135.64 lakhs on loss of control of subsidiary Morton Foods Limited (MFL). The Board approved audited financial results, appointed new statutory auditors M/s Singhi & Co. replacing M/s Agrawal Subodh & Co. after their 5-year term, and appointed M/s M Parasrampuria & Co. as internal auditors. No dividend was recommended for FY26. The auditors issued an Emphasis of Matter noting that associate MFL incurred a net loss of ₹1,668.76 lakhs with substantially eroded net worth, indicating material uncertainty about going concern.
The consolidated results appear strong due to a one-time gain, but underlying standalone operations show profit decline. The Emphasis of Matter on MFL's going concern raises red flags for investors given the associate's financial distress.