Submission of Summary of Proceedings of the 35th Annual General Meeting held on 20th September 2025 via Video Conferencing.
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Milestone Global Ltd held its 35th AGM on 20th September 2025 via video conferencing, lasting about 38 minutes. Two ordinary resolutions were tabled: adoption of the financial statements (standalone and consolidated) for FY ending March 2025, and the reappointment of Non-Executive Chairman Alok Krishna Agarwal as a director liable to retire by rotation. CEO Alka Agarwal disclosed that the company's profitability fell considerably, with turnover declining by approximately 20% year-on-year, mainly because one of its biggest customers sold off its business. The management said it is exploring Europe and UK markets and plans to sell directly through its US subsidiary to recover volumes, hoping turnover returns to normal levels in 2–3 years. Both the statutory auditor (P.L. Tandon & Co.) and the secretarial auditor issued unqualified opinions. No shareholders registered as speakers; results of e-voting via CDSL were to be declared later.
The disclosure of a 20% drop in turnover and a significant decline in profitability is negative for sentiment, though the unqualified audit report and clear recovery plan (Europe/UK push and direct US subsidiary sales) provide some reassurance. Watch the e-voting results for shareholder reaction and monitor upcoming quarterly numbers for signs of the expected turnaround.