Meeting Details

The 36th Annual General Meeting of Milestone Global Limited was held on Saturday, 19th September 2026 at 11:00 a.m. (IST) through Video Conference (VC). The meeting was conducted in compliance with circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI, and provisions of the Companies Act, 2013. The meeting commenced at 11:00 a.m. and concluded at 11:26 a.m.

Attendance

Directors and Key Managerial Personnel:

  • Alok Krishna Agarwal (Non-Executive Chairman and Chairman of Stakeholder and Relationship Committee) - Joined from New Delhi
  • Alka Agarwal (Whole Time Director and CEO) - Joined from Bangalore
  • Syed Fiyaz Ahmed (Whole Time Director) - Joined from Bangalore
  • Somendra Kumar Agarwal (Independent Director and Chairman of Nomination and Remuneration Committee) - Joined from Agra
  • Shweta Umesh Kumar Sinha (Independent Director and Chairperson of Audit Committee) - Joined from Mumbai
  • Mast Ram Tek Chand Bhardwaj (Independent Director) - Joined from Bangalore
  • Sunil Kumar Sharma (CFO) - Joined from Bangalore
  • Anita (Company Secretary) - Joined from Bangalore

Other Attendees:

  • Statutory Auditors: M/s P.L. Tandon & Co. - Joined from Kanpur
  • Scrutinizer: M. Jagadeesh - Joined from Bangalore
  • Mr. Harish (Integrated Registry Management Services Private Limited) - Joined from Bangalore

Quorum and Proceedings

The requisite quorum for the meeting was obtained by 11:00 a.m. Mr. Alok Krishna Agarwal chaired the meeting. The Company Secretary provided general instructions regarding participation and voting. The Chairman declared that the Company had taken all feasible efforts to enable members to participate through Video Conferencing and vote at the AGM.

Business Performance Review

Ms. Alka Agarwal, Whole Time Director and CEO, presented the operational performance for the financial year ended 31st March, 2026:

  • Profitability remained broadly in line with the previous year
  • Turnover reduction followed the loss of one of the Company's major customers
  • Company is making steady progress in replacing lost business but requires considerable time (1.5 to 2 years) to achieve meaningful volumes
  • Expansion in European and UK markets yielding encouraging results
  • Wholly owned subsidiary in the United States showing gradual improvement in business traction

Operational Challenges

  • Ongoing geopolitical uncertainties and conflicts impacted global trade
  • Elevated shipping costs and extended transit times of 2-3 weeks causing delays in dispatches and deliveries
  • Constrained availability of raw material blocks with procurement at significantly higher prices
  • Fluctuations in import tariffs and trade policy measures affecting Indian products in US market
  • Uncertainty surrounding tariff levels led to cautious procurement approach by customers

Resolutions Proposed

The following six resolutions were presented for shareholder approval:

1. Adoption of Financial Statements (both standalone and consolidated) for year ending 31st March, 2026 and Reports of Board of Directors and Auditors (Ordinary Business)

2. Appointment of Mr. Syed Fiyad Ahmed as director liable to retire by rotation (Ordinary Business)

3. Fixing remuneration of Mr. Syed Fiyaz Ahmed, Whole Time Director, for his remaining tenure (Special Business)

4. Re-appointment of Ms. Alka Agarwal (DIN:00127176) as Whole Time Director and approval of remuneration (Ordinary Business)

5. Re-appointment of Mr. Somendra Kumar Agarwal (DIN: 09068991) as Independent Director (Special Business)

6. Re-appointment of Mr. Mast Ram Tek Chand Bhardwaj (DIN: 09087201) as Independent Director (Special Business)

Voting and Scrutiny

The Company provided members facility to cast votes electronically on all resolutions. E-voting on the CDSL platform remained available for 30 minutes after the meeting. Mr. M Jagadeesh, Lawyer, was appointed as Scrutinizer to supervise the e-voting process. Results of voting will be declared within prescribed timeline and placed on the Company's website and CDSL website.

Auditor Reports

The Company Secretary summarized the auditor reports from Statutory Auditors P.L. Tandon & Co. and Secretarial Auditors Mr. Akhilesh Singh, both expressing unqualified opinions in their respective audit reports.

#Tags: #MilestoneGlobal #AGM #SEBIDisclosure #RegulatoryCompliance #BusinessUpdate