Palash Securities Limited — Important, 28-03-2025: General Updates

Palash Securities Limited has announced a board meeting where the sale of 6,00,000 equity shares (1.92%) in its subsidiary Morton Foods Limited was approved. Morton Foods reported a turnover of ₹35 Crore and a net worth of ₹23.18 Crore for the financial year ending March 31, 2024, significantly contributing 85.49% to the consolidated income and 4.80% to the consolidated net worth of Palash. The transaction, valued at ₹1.5 Crore, will be completed on or before March 31, 2025, and involves buyers from the promoter group, adhering to arm's length principles. This move could enhance liquidity for Palash, although it raises a potential risk of decreased consolidated earnings short-term, depending on future growth prospects of Morton.