Palash Securities Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
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Palash Securities filed its unaudited Q3 FY26 results along with auditor's limited review report. On a standalone basis, net profit jumped to Rs. 3,406.55 lakhs in Q3 from Rs. 265.57 lakhs a year ago, largely driven by Rs. 3,586.50 lakhs of dividend income. On a consolidated basis, the company swung to a net profit of Rs. 721.63 lakhs in Q3 from a loss of Rs. 200 lakhs last year. A major event during the quarter was the loss of control over Morton Foods Limited (MFL) effective November 18, 2025, after its rights issue diluted Palash's stake from 51.37% to 44.95%. MFL was reclassified from a subsidiary to an associate, and the deconsolidation generated a one-time gain of Rs. 2,413.64 lakhs booked under 'Other Income,' which inflated consolidated other income to Rs. 242,830 lakhs for 9M FY26. The auditor flagged material uncertainty on MFL's ability to continue as a going concern and questioned the recognition of a Rs. 450.53 lakhs deferred tax asset by MFL.
The headline profit surge is mostly a result of one-time items — dividend income on the standalone side and a large deconsolidation gain on the consolidated side — rather than steady operational improvement. Underlying performance is mixed: the investing business remains profitable while the food processing segment continued to report losses. Retail investors should look past the optical profit growth and watch how the company manages the residual exposure to MFL, which is now loss-making with a substantially eroded net worth.