Milestone Furniture Ltd (541337)
Latest quarterly results (H1 FY26)
In its latest reported quarter, H1 FY26, Milestone Furniture's revenue was ₹0.0 Cr, and net profit ₹-0.2 Cr (a smaller loss than a year earlier).
| H1 FY26 (₹ Cr) | Value | YoY vs H1 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-0.0 | loss narrowed | — |
| Net profit | ₹-0.2 | loss narrowed | loss narrowed |
| EPS (₹) | -0.18 | loss narrowed | loss narrowed |
📢 Recent Corporate Announcements
Milestone Furniture appointed M/s Gupta Rajesh & Associates as statutory auditor to fill a casual vacancy created by the resignation of M/s R. Daga & Company. The Board also reviewed conversion notices for Unlisted Secured Optionally Convertible Debentures (OCDs) worth ₹5.75 crore, but deferred allotment pending post-facto in-principle approval from stock exchanges due to non-compliance with Regulation 28(1). Additionally, the company approved increasing its authorized share capital six-fold from ₹10 crore to ₹60 crore and sought a 3-month extension for its FY26 AGM.
- OCD conversion of ₹5,74,60,000 deferred due to lack of prior approval under Regulation 28(1)
- Authorized share capital increased from ₹10,00,00,000 to ₹60,00,00,000 across 6,00,00,000 equity shares
- M/s Gupta Rajesh & Associates appointed statutory auditor to fill casual vacancy following R. Daga & Company's resignation
- Application filed with RoC for a 3-month extension to convene the AGM for FY 2025-26
- Rescinded resolution for opening Khar West branch office as lease negotiations failed
Milestone Furniture reported the resignation of statutory auditor M/s. R. Daga & Company effective July 28, 2026, citing professional commitments, and appointed M/s. Gupta Rajesh & Associates to fill the casual vacancy. Concurrently, the Board approved increasing the authorised share capital from Rs 10.00 crore to Rs 60.00 crore, subject to shareholder approval. The company also deferred the allotment of equity shares on OCD conversion notices worth Rs 5.75 crore due to a missing prior approval under Regulation 28(1) of SEBI LODR. Additionally, an application has been submitted to extend the FY 2025-26 AGM by three months.
- Resignation of statutory auditor M/s. R. Daga & Company effective 28.07.2026
- Proposed authorised share capital increase from Rs 10,00,00,000 to Rs 60,00,00,000
- Deferred conversion of unlisted secured OCDs aggregating to Rs 5,74,60,000 due to non-compliance with Regulation 28(1) of SEBI LODR
- Applied to ROC for a 3-month extension to hold the AGM for FY 2025-26
Milestone Furniture's board received conversion notices for unlisted Optionally Convertible Debentures (OCDs) worth ₹5.75 crore but deferred allotment due to missing prior stock exchange approval under Regulation 28(1). The board approved a six-fold increase in authorised share capital from ₹10 crore to ₹60 crore, subject to shareholder approval. Additionally, statutory auditor M/s. R. Daga & Company resigned effective July 28, 2026, and M/s. Gupta Rajesh & Associates was appointed to fill the casual vacancy. The company is also applying for a three-month extension to conduct its FY26 AGM.
- OCD conversion notices aggregating ₹5,74,60,000 received; equity allotment deferred pending SEBI/exchange condonation
- Authorised share capital proposed to rise from ₹10,00,00,000 to ₹60,00,00,000 (divided into 6,00,00,000 equity shares of ₹10 each)
- Auditor M/s. R. Daga & Company resigned w.e.f. July 28, 2026; casual vacancy filled by M/s. Gupta Rajesh & Associates
- Company seeking 3-month extension from RoC Maharashtra for holding FY26 Annual General Meeting
- Rescinded earlier approval to open a branch office at Khar West, Mumbai as negotiations failed
Milestone Furniture Limited announced that its Board of Directors met on August 26, 2026, to take note of the resignation of Mrs. Payal Vatsal Thakkar from her role as Non-Executive, Non-Independent Director. The resignation was tendered due to personal reasons and became effective retroactively on August 19, 2026. The company reported zero revenue and a net loss of ₹1 Cr over the trailing twelve months, with promoter holding at 0.0%. The departure represents a routine board-level change with no direct operational or financial disruption noted.
- Mrs. Payal Vatsal Thakkar resigned as Non-Executive, Non-Independent Director effective August 19, 2026
- Board of Directors formally accepted and took note of the resignation on August 26, 2026
- Resignation cited personal reasons with no reported operational disagreements
- Board meeting commenced at 1:00 PM and concluded at 1:45 PM on August 26, 2026
Milestone Furniture Ltd has approved and taken on record the resignation of Mrs. Payal Vatsal Thakkar from the position of Non-Executive, Non-Independent Director. The resignation was tendered on August 19, 2026, citing personal reasons, and took effect from the same date. The company reported zero revenue over recent quarters with a market capitalization of approximately Rs 18 Cr and 0% promoter shareholding.
- Resignation of Non-Executive, Non-Independent Director Mrs. Payal Vatsal Thakkar taken on record.
- Resignation effective from August 19, 2026, due to personal reasons.
- Board meeting conducted on August 26, 2026, from 1:00 PM to 1:45 PM.
Financial Performance
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Operational Drivers
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Strategic Growth
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External Factors
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Regulatory & Governance
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