Bharani Maholsavam is the major festival celebrated in Palakkunnu Bhagavathy Temple, Trikkanad. Held during the Bharani asterism that falls in the month of March, the festival commence the very next day of the Arattu festival of Trikkannad Temple, located just 1kms from here. The dhwajarohanam (hosting the flag) at Palakkunnu temple is done with the same rope which is used for the dhwajarohanam at Trikkannad temple. During the festival days, all the deities from the nearby temple are taken in a grand procession called Kazhcha. After the end of Kazhcha and offerings at the temple, there will be a splendid display of fire works which lasts for hours.