Milestone Global Limited has accepted the resignation of Sunil Kumar Sharma as Chief Financial Officer, effective from the close of business hours on October 9, 2026. The Board of Directors approved the exit on August 11, 2026, following a resignation letter dated August 11, 2026, in which Sharma cited personal reasons for his departure. This leadership change occurs as the company navigates a financial turnaround, having reported a return to profitability in Q1FY26.

The resignation was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular ref SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. In his resignation letter, Sharma confirmed that there were no material reasons for his resignation other than personal ones and pledged full cooperation during the notice period to ensure a seamless transition of responsibilities.

Financial Context

The management change follows the company’s Q1FY26 results, where standalone revenue rose 17% year-on-year to ₹368.27 lakh from ₹335.45 lakh. Milestone Global posted a net profit of ₹6.43 lakh, reversing a net loss of ₹10.89 lakh in the preceding quarter. The profitability turnaround was driven by a 57% surge in European operations revenue, which reached ₹203.90 lakh.

Operational Drivers

European segment revenue contributed ₹203.90 lakh, up from ₹130.23 lakh in Q1FY25. Conversely, USA segment revenue declined by 11% to ₹161.04 lakh. Consolidated revenue from operations rose to ₹457.06 lakh from ₹417.58 lakh in the prior year period. Statutory auditors P.L. Tandon & Co. issued a limited review report, confirming no material misstatements in the standalone and consolidated results.

What the Numbers Show

The departure of the CFO coincides with a shift in the company’s revenue composition. While other income dropped sharply by 86% year-on-year (from ₹24.17 lakh to ₹3.33 lakh), core operational revenue growth remained robust. This indicates that the recent profitability is derived from core business performance rather than incidental gains, suggesting a more sustainable earnings base despite the leadership transition.

Milestone Global Limited has announced the schedule for its 36th Annual General Meeting (AGM), set to be held via video conference on Saturday, September 19, 2026. The meeting aims to transact business as outlined in the notice, including the approval of financial statements for FY25-26, though specific quarterly financial metrics for Q1FY26 were not included in this particular filing.

The Board of Directors has fixed September 14, 2026, as the cut-off date for determining shareholder eligibility for voting. Shareholders holding shares in physical or dematerialized form as of this date can participate in remote e-voting or vote during the AGM. The register of members and share transfer books will remain closed from September 15, 2026, to September 19, 2026, inclusive, to facilitate the process.

Remote e-voting will commence on Wednesday, September 16, 2026, at 9:00 a.m. IST and conclude on Friday, September 18, 2026, at 5:00 p.m. IST. The facility is managed through the Central Depository Services (India) Limited (CDSL) e-voting system. Shareholders who have already cast their votes remotely are not eligible to vote again during the AGM session.

Key Dates and Procedures

Shareholders participating via video conference will be counted towards the quorum under Section 103 of the Companies Act, 2013. The company has appointed Mr. M. Rajasekhar, a lawyer, as the scrutinizer to ensure fair and transparent conduct of the e-voting process.

Shareholder Compliance Requirements

In compliance with Securities and Exchange Board of India (SEBI) guidelines, shareholders are required to update their PAN, email ID, KYC details, and nomination information with their respective Depository Participants (DPs) or Registrar and Transfer Agents (RTAs). Physical shareholders must provide these details to the RTA, Integrated India Stock Holding Limited, by writing to irg@integratedindia.in .

Electronic copies of the AGM notice and Annual Report for FY25-26 have been dispatched to registered email addresses. Shareholders without registered emails have received letters with weblinks to access these documents. The full annual report is also available on the company’s website.