Milestone Furniture Limited has announced a delay in the submission of its audited financial results for the quarter and financial year ended March 31, 2026. The company cited unforeseen circumstances arising from the serious health condition of a key director, who suffered a brain hemorrhage and is currently undergoing medical treatment, as the reason for the postponement. This situation has prevented the company from completing necessary processes and obtaining required approvals within the prescribed timeline.

The disclosure was made to BSE Limited pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Milestone Furniture stated that it is making all possible efforts to complete the pending formalities and finalize the audited results at the earliest. The company committed to keeping the stock exchange informed of further developments and submitting the results as soon as the situation normalizes.

Milestone furniture Limited has successfully concluded its board meeting on March 18, 2026, approving the unaudited financial results for the half year ended September 30, 2023. The meeting took place at the company's registered office in Mumbai, with directors transacting key agenda items focusing primarily on financial results approval and regulatory compliance.

Board Meeting Outcome

The board meeting commenced at 11:00 AM and concluded at 3:00 PM on Wednesday, March 18, 2026. The directors approved the unaudited financial results pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, along with the limited review report for the half year ended September 30, 2023.

Financial Performance Highlights

The company reported a net loss of ₹28.47 lakh for the half year ended September 30, 2023, with basic earnings per share of ₹(0.31). The financial results show operational challenges during the reporting period, with total expenses of ₹28.47 lakh primarily comprising depreciation of ₹24.09 lakh and other expenses of ₹4.37 lakh.

Balance Sheet Position

As of September 30, 2023, the company maintained total assets of ₹2,580.38 lakh compared to ₹2,604.47 lakh as of March 31, 2023. The equity base stood at ₹2,530.02 lakh, reflecting the impact of the reported loss.

Regulatory Compliance and Exemptions

The company informed BSE Limited about the non-applicability of Regulation 23(9) disclosure requirements for related party transactions. This exemption applies as the company's paid-up equity share capital and net worth do not exceed the prescribed threshold limits of ₹10 crores and ₹25 crores respectively.

Auditor's Review Report

R. Daga & Company, Chartered Accountants, served as the statutory auditors for the limited review. However, the auditors noted significant challenges in their review report, citing a standoff between new and old management. The new management has been unable to provide complete evidence and information on all assets and liabilities recorded in the financial statements, as they are still seeking clarity on the company's financial position from the previous management.

Mayank Rasiklal Kotadia, Whole Time Director with DIN 07484438, signed the outcome documents on behalf of Milestone Furniture Limited, ensuring compliance with BSE listing requirements.