1. The Standalone Un-Audited Financial Results of the Company for the quarter and Half Year ended 30th September, 2024, pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015. 2. ....

Going-concern doubtAdverse audit opinionNet loss reportedRelated-party transactionsNegative operating cash flowResults View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+1.0% vs market

Consumer Durables peers, median of 176sector · industry level-0.2%+1.5% vs sector

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AI summary

Milestone Furniture Limited's Board approved standalone un-audited financial results for the half year ended 30 September 2024, reporting zero revenue from operations and a net loss of Rs. 27.55 lakhs (EPS of Rs. -0.30), compared to a loss of Rs. 34.68 lakhs in the prior-year period. The auditor (R Daga and Company) explicitly stated it could NOT perform a review and did NOT express a conclusion, citing a 'stand-off between New and Old owner and Management' where the new management could not provide evidence or clarity on assets, liabilities, or past operations. The Board also appointed Mr. Brajesh Gupta as Secretarial Auditor for FY 2024-25 and disclosed related-party transactions including reimbursement of Rs. 5.74 lakhs to the Whole Time Director and salary of Rs. 66,000 to the Company Secretary.

Likely market impact

This is a deeply negative filing for shareholders: the company has no operating revenue, continues to post losses, and the auditor could not even complete a limited review due to unresolved internal disputes between old and new management — raising serious going-concern and corporate governance concerns that could weigh heavily on the stock and investor confidence.