Palash Securities Limited has informed the Exchange regarding Outcome of Board Meeting held on May 15, 2026.
PALASHSECU · price
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Palash Securities Limited's Board approved audited financial results for Q4 and FY26 ended March 31, 2026. Standalone performance shows Total Income of Rs 40,803 lakhs (down from Rs 53,961 lakhs in FY25) and Net Profit of Rs 2,361 lakhs (down from Rs 5,032 lakhs). Consolidated results show Total Income of Rs 4,933 lakhs and Net Profit of Rs 11,717 lakhs, recovering from FY25 loss of Rs 7,652 lakhs, largely due to gain on loss of control of subsidiary Morton Foods Limited. No dividend was recommended for FY26. The Board appointed M/s Singhi & Co. as new statutory auditors (replacing Agrawal Subodh & Co.) and M/s M Parasrampuria & Co. as internal auditors. The auditors issued an Emphasis of Matter regarding the associate company Morton Foods Limited, which incurred Rs 1,669 lakhs loss and has substantially eroded net worth, indicating going concern uncertainty.
The standalone profit decline and going concern warning for associate MFL are concerning signals. The consolidated profit recovery is positive but partly non-operational. The auditor change and absence of dividend may concern investors seeking returns.