Milestone Furniture Limited has issued a revised outcome of its Board Meeting held on December 1, 2025, to correct a typographical error in the designation of a newly appointed director. The correction was communicated to the Bombay Stock Exchange on December 26, 2025.

Director Appointment Correction

The company clarified that there was a typographical error in its earlier filing regarding the designation of Mrs. Payal Vatsal Thakkar (DIN: 10799911). The Board has appointed Mrs. Thakkar as an Additional Director, designated as a Non-Executive, Non-Independent Director of the company, contrary to the earlier announcement which incorrectly stated her designation as Executive Director (Woman Director).

Regularization Process

The Nomination and Remuneration Committee (NRC) has recommended Mrs. Thakkar's regularization in her corrected capacity as Non-Executive, Non-Independent Director. This recommendation is subject to approval by the members at the company's ensuing Annual General Meeting (AGM). The original recommendation was for a term of 5 years, and this aspect remains unchanged in the revised filing.

Filing Details

The revised outcome was submitted to correct the typographical error while maintaining all other details from the original filing dated December 1, 2025. The company emphasized that except for the correction of designation, all other information in the original board meeting outcome remains valid and unchanged.

The communication was signed by Mayank Rasiklal Kotadia, Whole-time Director (DIN: 07484438), on behalf of Milestone Furniture Limited. The company's scrip code on BSE is 541337, and it operates under CIN: L36912MH2014PLC254131.

Milestone Furniture Limited has released its unaudited standalone financial results for the half-year ended September 30, 2025, showing a net loss of ₹17.05 lakhs. While the company continues to report losses, the current period's performance represents an improvement compared to the ₹27.55 lakhs loss recorded in the same period of the previous year.

Financial Performance Overview

The company's financial results reveal no revenue generation from operations during the reporting period. The total expenses for the half-year amounted to ₹17.05 lakhs, resulting in an equivalent net loss after tax.

Expense Breakdown

The company's expense structure for the half-year period was dominated by depreciation and amortization expenses, which accounted for ₹16.03 lakhs of the total ₹17.05 lakhs in expenses. Other expenses contributed ₹1.02 lakhs to the total cost base. Notably, the company reported no employee benefit expenses during this period, compared to ₹0.66 lakhs in the previous year's corresponding period.

Balance Sheet Position

As of September 30, 2025, Milestone Furniture maintained total assets of ₹2,500.96 lakhs, slightly down from ₹2,516.99 lakhs as of March 31, 2025. The company's equity base remained stable with paid-up equity share capital of ₹929.70 lakhs and other equity of ₹1,500.22 lakhs.

Corporate Developments

During the Board meeting held on December 16, 2025, the directors approved several key decisions beyond the financial results. The Board sanctioned the opening of a new branch office at "401, Makhija Royale, S. V. Road, Khar West, Mumbai - 400052," which represents a strategic expansion of the company's operational footprint.

Regulatory Compliance

The company informed the stock exchange that it is not required to submit disclosures related to related party transactions under Regulation 23(9) of SEBI (LODR) Regulations, 2015. This exemption applies because 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 Qualified Opinion

The independent auditor's review report highlighted significant concerns regarding the financial statements. R. Daga & Company, the statutory auditors, were unable to complete a standard review due to a standoff between new and old management. The auditors noted that the new management has not been able to provide evidence or 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.