Palash Securities Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Food Processing Products: 92.0% • Investments: 8.0%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Solid return on assets for a lender - ROA of 6.1%
- Asset quality is healthy - gross NPA of just 0.0%
- Operating margins have improved to -8.2% from -16.8%
CONS
- Company is loss-making at the operating / net level
- A large part of profit comes from other income (190.9% of PBT)
- Company has a low return on capital employed of -0.9%
- Company has a low return on equity of -1.7% over last 3 years
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJAJFINSV | 1924.00 | 30.39 | 308236.60 | 0.08 | 62966.70 | 1081.55 | 420369.00 | 1091.26 | 11.88 | 40.79 |
| AIIL | 512.35 | 20.74 | 43510.07 | 0.00 | 11082.20 | 1075.19 | 14695.40 | 1109.37 | 13.85 | 88.91 |
| CHOLAHLDNG | 1525.85 | 10.74 | 28652.02 | 0.09 | 1788.99 | 42.04 | 11113.57 | 42.92 | 10.52 | 57.53 |
| TVSHLTD | 13146.60 | 13.50 | 26598.34 | 0.65 | 1173.58 | 73.77 | 17076.18 | 40.01 | 19.39 | 16.25 |
| CGCL | 272.25 | 23.23 | 26194.64 | 0.07 | 353.38 | 102.04 | 1576.47 | 62.12 | 11.68 | 68.54 |
| MAHSCOOTER | 13098.50 | 53.75 | 14969.71 | 1.68 | 3.32 | -90.61 | 5.41 | -81.52 | 1.06 | 84.10 |
| JSWHL | 11436.55 | 92.41 | 12694.14 | 0.00 | 24.54 | -92.74 | 34.58 | 14.97 | 0.58 | 92.45 |
| JMFINANCIL | 127.35 | 11.72 | 12186.88 | 2.55 | 368.57 | -19.66 | 1200.53 | 9.69 | 11.91 | 58.30 |
| TSFINV | 441.15 | 20.13 | 9798.11 | 2.53 | 124.95 | -92.11 | 305.57 | 102.23 | 3.47 | 53.35 |
| RELIGARE | 258.30 | 162.10 | 8904.47 | 0.00 | -46.98 | -674.86 | 2353.40 | 1051.76 | 4.71 | -2.08 |
| KAMAHOLD | 2288.70 | 7.89 | 7344.57 | 1.81 | 584.02 | 10.80 | 4657.56 | 7.07 | 20.86 | 22.01 |
| PALASHSECU | 99.50 | 6.15 | 99.53 | 0.00 | -1.47 | 51.52 | 0.31 | -97.71 | 2.74 | -484.57 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 14 | 9 | 10 | 6 | 4 | 13 | 14 | 14 | 3 | 10 | 0 | 0 | |
| 14 | 14 | 11 | 14 | 9 | 15 | 16 | 23 | 16 | 26 | 11 | 0 | 0 | |
| Operating Profit | -5 | 1 | -3 | -4 | -2 | 0 | -3 | -9 | -2 | -0 | -1 | -0 | -2 |
| OPM % | -67.08% | 4.29% | -29.43% | -42.18% | -38.21% | 4.72% | -23.18% | -67.73% | -16.73% | -7.83% | -11.63% | -308.33% | -484.57% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| -6 | -0 | -3 | -5 | -3 | -1 | -4 | -10 | -3 | -1 | 23 | -0 | -1 | |
| Tax % | -0.32% | -2580.00% | -2.97% | -0.42% | -1.55% | -248.24% | 29.74% | 9.14% | -0.66% | -160.95% | 0.31% | 239.13% | -2.52% |
| Net Profit | 0 | 0 | 0 | 0 | -3 | -3 | -3 | -9 | -3 | -3 | 22 | -41 | -1 |
| -4 | 0 | -2 | -3 | -2 | -2 | -1 | -8 | -2 | -1 | 22 | -4 | -0 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 47 | 43 | 47 | 48 | 62 | 60 | 64 | 45 | 49 | 50 | 14 | |
| 38 | 35 | 41 | 49 | 73 | 72 | 76 | 56 | 64 | 54 | 38 | |
| Operating Profit | 9 | 8 | 6 | -1 | -11 | -13 | -12 | -11 | -15 | -4 | -24 |
| OPM % | 18.85% | 18.36% | 13.28% | -2.20% | -18.15% | -21.25% | -17.99% | -25.59% | -29.62% | -8.16% | -171.37% |
| 0 | 1 | 1 | 0 | 0 | 3 | 1 | 0 | 1 | 25 | 25 | |
| Interest | 5 | 3 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 |
| Profit before Tax | 4 | 5 | 6 | -2 | -12 | -13 | -15 | -14 | -18 | 13 | 20 |
| Tax % | 1.94% | 2.41% | 7.47% | -21.37% | -2.77% | 34.04% | -11.77% | -9.93% | -0.85% | 9.45% | 6.23% |
| Net Profit | 4 | 5 | 6 | -2 | -13 | -9 | -16 | -16 | -18 | 12 | 19 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -12.83 | -8.54 | -15.57 | -9.62 | -12.66 | 16.06 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -4%
- 3 Years:
- -8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 4%
- 3 Years:
- -7%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- 1%
- 5 Years:
- -2%
- 3 Years:
- -2%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 7 | 16 | 0 |
| 42 | 47 | 241 | 152 | 268 | 538 | 375 | 473 | 577 | 474 | |
| 42 | 6 | 6 | 10 | 23 | 23 | 22 | 30 | 26 | 0 | |
| Trade Payables | 5 | 4 | 5 | 10 | 9 | 10 | 10 | 10 | 9 | 0 |
| 4 | 4 | 3 | 4 | 5 | 21 | 6 | 31 | 52 | 41 | |
| Total Liabilities | 103 | 71 | 266 | 186 | 315 | 603 | 436 | 561 | 690 | 525 |
| 3 | 3 | 3 | 3 | 47 | 47 | 47 | 46 | 47 | 1 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| 39 | 34 | 219 | 134 | 222 | 521 | 349 | 486 | 609 | 511 | |
| 13 | 12 | 13 | 21 | 16 | 16 | 18 | 10 | 16 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 3 | 0 | |
| Cash & Bank | 4 | 5 | 13 | 7 | 7 | 5 | 12 | 10 | 11 | 10 |
| 44 | 17 | 17 | 22 | 23 | 13 | 10 | 5 | 5 | 2 | |
| Total Assets | 103 | 71 | 266 | 186 | 315 | 603 | 436 | 561 | 690 | 525 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1 | 26 | 6 | -6 | -8 | 2 | -13 | -12 | -5 | -18 | |
| Cash from Investing | 4 | 14 | 5 | -3 | -4 | -0 | 0 | -3 | -3 | -4 |
| Cash from Financing | 0 | -38 | -2 | 4 | 11 | -2 | 18 | 6 | 16 | 14 |
| 3 | 1 | 9 | -6 | -0 | -2 | 5 | -10 | 8 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Palash Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-15 - Palash Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Palash Securities Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-05 - Palash Securities Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 05, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-05 - Palash Securities Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-05 - Palash Securities Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 05, 2026
2026-07-14 - Palash Securities Limited has informed the Exchange that Cut-off date/Record date for the purpose of Annual General Meeting is 29-Jul-2026.
2026-07-14 - Palash Securities Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-14 - Palash Securities Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for PALASHSECU
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Palash Securities Ltd.
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