Palash Securities Posts ₹11.7 Cr FY26 Profit, Names New Auditors for 5 Years

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AuthorVihaan Mehta|Published at:
Palash Securities Posts ₹11.7 Cr FY26 Profit, Names New Auditors for 5 Years
Overview

Palash Securities Ltd announced its FY26 financial results, with a consolidated net profit of ₹11.72 crore and standalone profit of ₹2.36 crore. The board also appointed Singhi & Co. as new statutory auditors for a five-year term. Investors are monitoring a significant going concern risk related to associate MFL.

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Palash Securities Posts ₹11.7 Cr FY26 Profit, Appoints New Auditors

On May 15, 2026, Palash Securities Limited's Board of Directors met and approved the company's audited financial results for the fiscal year ending March 31, 2026.

Key Announcements

The board appointed Singhi & Co. as the new statutory auditors for a five-year term, a move aimed at enhancing governance. M. Parasrampuria & Co. were appointed as internal auditors for fiscal year 2026-27.

FY26 Financial Performance

Palash Securities reported a consolidated net profit after tax of ₹1,171.68 lakh (₹11.72 crore) for fiscal year 2026. The standalone net profit after tax stood at ₹236.08 lakh (₹2.36 crore). While consolidated gains show improved profitability, a significant risk related to an associate company requires attention.

MFL Going Concern Risk

A key concern is the financial health of Morton Foods Limited (MFL), an associate company. MFL incurred a net loss before tax of ₹1,668.76 lakh for the year ended March 31, 2026. MFL's net worth has been substantially eroded, creating material uncertainty about its ability to continue as a going concern, which could potentially impact Palash Securities.

What Investors Should Track

Investors will be watching for shareholder approval of Singhi & Co.'s appointment at the upcoming Annual General Meeting. The company's future financial performance and any strategic decisions regarding MFL will be critical. Additionally, the effectiveness of the new auditors in enhancing reporting and compliance will be important to monitor.

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