Palash Securities Limited has appointed Suraj Kumar Agrawal as its Managing Director for a term of three years, effective from March 30, 2026, to March 29, 2029. Shareholders approved the appointment through a postal ballot conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resolution was passed with a requisite majority on May 24, 2026, the last date of remote e-voting.

Mr. Agrawal is a seasoned Chartered Accountant with over 21 years of experience in finance and accounting. His expertise includes financial planning, budgeting, risk management, and statutory compliance. He holds specialized certifications in Forensic Audit & Fraud Detection and Financial Risk Analysis from the Institute of Chartered Accountants of India (ICAI). The company confirmed he is not debarred from holding the office by SEBI or any other authority.

Voting Results Summary

The appointment received strong shareholder support, with 99.84% of votes cast in favor. A total of 47 members participated via the NSDL e-voting platform.

Detailed Breakdown

The total votes polled represented 73.4882% of the outstanding shares. The Promoter and Promoter Group cast 7220287 votes, all in favor. Public Non-Institutions participated with 130811 votes, with 118687 in favor and 12124 against. Public Institutions did not participate. A separate resolution appointing Mr. Agrawal as a Director was also approved with 99.98% support.

Palash Securities Limited has disclosed its audited financial results for the quarter and year ended March 31, 2026, as approved by its Board of Directors at a meeting held on May 15, 2026. On a standalone basis, the company reported a net loss of ₹29.49 lakh for the fourth quarter, a sharp reversal from the net profit of ₹86.94 lakh recorded in the same period last year. Total revenue from operations for the standalone entity fell significantly to ₹4.26 lakh in Q4 FY26, compared to ₹90.26 lakh in Q4 FY25. The equity share capital remained constant at ₹1,000.31 lakh across all reported periods. The results were audited by M/s. Agrawal Subodh & Co., Chartered Accountants (FRN: 319260E), who issued an unmodified audit opinion on both standalone and consolidated financial results.

Standalone Financial Performance

For the full fiscal year, the standalone entity reported a net profit of ₹236.08 lakh, with total revenue from operations at ₹372.34 lakh. Revenue comprised interest income of ₹13.69 lakh and dividend income of ₹358.65 lakh for the year. Total income including other income (rental income of ₹35.69 lakh) stood at ₹408.03 lakh for the year. The net profit before tax stood at ₹350.12 lakh for the year and at (₹5.11) lakh for Q4 FY26. Total comprehensive income for the year was ₹235.13 lakh, while it stood at (₹3.95) lakh for the quarter. The basic and diluted earnings per share (EPS) for the standalone entity were reported at (₹0.29) for the quarter and ₹2.36 for the year. Other equity stood at ₹2,852.49 lakh as at March 31, 2026, compared to ₹2,617.36 lakh as at March 31, 2025.

Consolidated Financial Performance

On a consolidated basis, Palash Securities posted a net loss of ₹414.32 lakh for Q4 FY26, an improvement compared to the net loss of ₹874.13 lakh in Q4 FY25. Total revenue from operations for the consolidated entity was ₹11.84 lakh for the quarter, down from ₹1,378.58 lakh in the prior year's corresponding quarter. For the full year, consolidated net profit stood at ₹1,171.68 lakh, with total revenue from operations rising to ₹4,923.85 lakh, driven primarily by sale of food products of ₹4,531.55 lakh. The consolidated total comprehensive income was (₹8,789.89) lakh for the quarter and (₹10,766.67) lakh for the year. The consolidated basic and diluted EPS stood at (₹4.14) for the quarter and ₹16.06 for the year. A notable development during the year was the loss of control over Morton Foods Limited (MFL), which ceased to be a subsidiary with effect from November 18, 2025, and became an Associate after the Holding Company's stake reduced from 51.37% to 44.95% following a Rights Issue by MFL in which the Holding Company did not participate. This resulted in a net gain of ₹2,413.64 lakh recognised under Other Income. The Group's share of loss of Associate for the year stood at ₹550.27 lakh.

Financial Summary

The key financial metrics across standalone and consolidated reporting are presented below:

* Not annualised.

Segment Performance

On a consolidated segment basis, the Investing Business reported segment revenue of ₹11.84 lakh for Q4 FY26 and ₹392.30 lakh for the full year. The Food Processing Business, which ceased to be consolidated following the loss of control over MFL, reported nil revenue for Q4 FY26 and ₹4,531.55 lakh for the full year. Total consolidated segment assets stood at ₹52,424.40 lakh as at March 31, 2026, compared to ₹68,905.51 lakh as at March 31, 2025, reflecting the deconsolidation of MFL.

Corporate Developments

At the Board meeting held on May 15, 2026, the Board approved the appointment of M/s. Singhi & Co., Chartered Accountants (Firm Registration Number: 302049E) as the new Statutory Auditors of the company for a term of five consecutive years, commencing from the conclusion of the 12th Annual General Meeting (to be held in 2026) until the conclusion of the 17th Annual General Meeting (to be held in 2031), subject to member approval. This follows the completion of the second term of the outgoing auditors, M/s. Agrawal Subodh & Co. M/s. Singhi & Co. is a leading firm of Chartered Accountants in India founded in 1940, with over 600 professionals and more than 150 listed company clients. Additionally, M/s. M Parasrampuria & Co., Chartered Accountants (Firm Registration Number: 318003E), a Kolkata-based firm established in 1987, was appointed as Internal Auditors for the financial year 2026-27. The Board also resolved not to recommend any dividend on equity shares for the financial year ended March 31, 2026. The results were signed by Managing Director Suraj Kumar Agarwal from Kolkata.