Milestone Global Limited has submitted its 36th Annual Report for the financial year ended 31st March 2026 to the Bombay Stock Exchange, in compliance with Regulation 34 under SEBI Listing Regulations 2015. The report contains audited standalone and consolidated financial statements, Directors' Report, Auditors' Reports, Management Discussion and Analysis, and Corporate Governance Report.

Standalone Financial Performance

The company's standalone financial results for FY 2025-26 reflect broadly stable performance compared to the previous year. The following table summarises the key standalone metrics:

Standalone revenue from operations stood at Rs. 1,204.16 lakhs as against Rs. 1,220.32 lakhs in the previous year, reflecting a marginal decline of 1.32%. Profit before tax on a standalone basis was Rs. 37.41 lakhs compared to Rs. 38.71 lakhs in the prior year, a decrease of 3.36%. Profit after tax for the year was Rs. 27.64 lakhs against Rs. 28.28 lakhs in the previous year, a decline of 2.26%. The management attributed the continued pressure on profitability to the loss of a major customer, constrained availability of raw material blocks at higher procurement prices, elevated shipping costs, and geopolitical uncertainties affecting global trade.

Consolidated Financial Performance

On a consolidated basis, which includes the results of wholly owned subsidiaries Milestone Global (UK) Limited and Milestone Imports Inc. (USA), the company recorded a significant improvement in profitability. The following table presents the key consolidated metrics:

Consolidated revenue from operations grew to Rs. 1,396.87 lakhs from Rs. 1,230.72 lakhs in the prior year. Consolidated profit after tax rose sharply to Rs. 75.29 lakhs from Rs. 19.51 lakhs, driven by improved performance at the subsidiary level. The UK subsidiary, Milestone Global (UK) Limited, reported a turnover of Rs. 10,51,02,893.00 and profit after tax of Rs. 45,29,964.00 for the year. The US subsidiary, Milestone Imports Inc., reported a turnover of Rs. 1,46,01,038.00 and profit after tax of Rs. 18,72,296.00.

Dividend and Reserves

The Board of Directors has not recommended any dividend on the equity shares of the company for the financial year ended 31st March 2026. Accordingly, no amount has been proposed to be transferred to the General Reserve.

Key Financial Ratios

The company has disclosed the following key financial ratios for the standalone entity:

The inventory turnover ratio recorded a significant change of 762.96% due to an increase in inventory levels during the year. The trade payable turnover ratio changed by 31.48%, attributed to an increase in credit period by trade payables. The company carries no debt, rendering debt equity ratio and debt service coverage ratio not applicable.

Foreign Exchange and Segment Information

Foreign exchange earnings for the year stood at Rs. 12,47,32,047.48/- while foreign exchange outgo was Rs. 88,13,819.86/-. The company operates in a single business segment — "Stone" — with all revenues derived from exports. Geographically, standalone revenues were distributed as follows: USA — Rs. 381.26 lakhs, Europe — Rs. 772.20 lakhs, and Canada — Rs. 50.70 lakhs for FY 2025-26.

Board and Corporate Governance

As on 31st March 2026, the Board comprised six directors — two executive directors and four non-executive directors, of whom three were independent directors. The Board met four times during the financial year on 24th May 2025, 8th August 2025, 14th November 2025, and 7th February 2026. The Secretarial Audit Report and Statutory Auditors' Report do not contain any qualification, reservation, adverse remark, or disclaimer. The 36th Annual General Meeting of the company is scheduled to be held on 19th September 2026 via Video Conferencing.

Milestone Global Limited will conduct its 36th Annual General Meeting (AGM) via video conferencing on September 19, 2026, at 11:00 a.m. IST. The meeting is being held in compliance with General Circular number 3/2025 issued by the Ministry of Corporate Affairs and relevant circulars from the Securities and Exchange Board of India.

Electronic copies of the AGM notice and the Annual Report for the financial year 2025-2026 will be sent to shareholders whose email addresses are registered with the company's Registrar and Transfer Agent (RTA) or depository participants. Shareholders holding shares in dematerialized mode are requested to register their email addresses and mobile numbers with their depositories. Those holding physical shares must furnish these details with the company's RTA, Integrated Registry Management Services Private Limited.

A letter containing the web link to access the Integrated Annual Report for FY26 will be sent to shareholders who have not registered their email addresses. The notice of the 36th AGM will also be available on the company's website, stock exchanges, and CDSL.

Shareholders will have the opportunity to cast their votes remotely on the business items through an electronic voting system. The specific procedure for remote voting for dematerialized and physical shareholdings will be detailed in the Notice of AGM. The formal notice will be dispatched to shareholders on their registered email addresses in due course.