---
title: "Milestone Organic Ltd(merged) (524368) — Share Price, Financials & Analysis"
symbol: "524368"
company: "Milestone Organic Ltd(merged)"
canonical: "https://tapetide.com/stocks/524368"
bse_code: "524368"
generated_at: "2026-10-13T11:00:18.008Z"
---

# Milestone Organic Ltd(merged) (524368)

Canonical page: https://tapetide.com/stocks/524368

## Company

- **BSE Code:** 524368
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost
- Company has high debtors of 619 days.
- Working capital days have increased from 698 days to 1,084 days

## Growth Rates

| Metric | 1Y |
| --- | --- |
| net income growth | -106% |
| revenue growth | -81% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2637 | 2686 | 2607 | 2591 | 2297 | 2383 | 2222 | 2260 | 2067 | 2249 | 2180 | 2053 |
| Expenses | 1508 | 1238 | 1130 | 1095 | 1471 | 1146 | 1327 | 1706 | 2640 | 1763 | 1509 | 1059 |
| Operating Profit | 1129 | 1448 | 1477 | 1495 | 826 | 1237 | 895 | 554 | -572 | 486 | 671 | 994 |
| OPM % | 43 | 54 | 57 | 58 | 36 | 52 | 40 | 25 | -28 | 22 | 31 | 48 |
| Other Income | 216 | 221 | 307 | 409 | 315 | 237 | 387 | 216 | 323 | 161 | 357 | 240 |
| Interest | 2012 | 2065 | 1936 | 1925 | 1847 | 1708 | 1621 | 1560 | 1567 | 1506 | 1454 | 1422 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -667 | -396 | -152 | -21 | -706 | -234 | -339 | -790 | -1816 | -859 | -426 | -188 |
| Tax % | -51 | -30 | -71 | -269 | -19 | -43 | -45 | -52 | -33 | -16 | -2 | -5 |
| Net Profit | -326 | -279 | -44 | 35 | -575 | -133 | -185 | -380 | -1225 | -722 | -417 | -178 |
| EPS in Rs | -4.89 | -4.19 | -0.66 | 0.45 | -7.31 | -1.69 | -1.86 | -3.36 | -5.42 | -3.19 | -1.84 | -0.79 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 |
| --- | --- | --- |
| Sales | 1.7 | 0.33 |
| Expenses | 2.01 | 1.33 |
| Operating Profit | -0.31 | -1 |
| OPM % | -18.24 | -303.03 |
| Other Income | 0 | 0.13 |
| Interest | 0.06 | 0.39 |
| Depreciation | 0.47 | 0.47 |
| Profit before tax | -0.84 | -1.73 |
| Tax % | 0 | 0 |
| Net Profit | -0.84 | -1.73 |
| EPS in Rs | -1.24 | -2.54 |
| Dividend Payout % | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 |
| --- | --- | --- |
| Equity Capital | 6.8 | 6.8 |
| Reserves | -5.99 | -7.72 |
| Borrowings | 6.48 | 7.28 |
| Other Liabilities | 0.77 | 0.51 |
| Total Liabilities | 8.06 | 6.87 |
| Fixed Assets | 5.78 | 5.32 |
| CWIP | 0 | 0 |
| Investments | 0.04 | 0.04 |
| Other Assets | 2.24 | 1.51 |
| Total Assets | 8.06 | 6.87 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 |
| --- | --- | --- |
| Cash from Operating Activity | 0.07 | -0.81 |
| Cash from Investing Activity | 0 | 0 |
| Cash from Financing Activity | -0.07 | 0.8 |
| Net Cash Flow | 0 | -0.01 |
| Free Cash Flow | 0.07 | -0.81 |
| CFO/OP | -23 | 81 |

### Ratios

| Item | Mar 2006 | Mar 2007 |
| --- | --- | --- |
| Debtor Days | 109.5 | 619.39 |
| Inventory Days | 447.7 | 393.08 |
| Days Payable | 173.95 | 210.58 |
| Cash Conversion Cycle | 383.25 | 801.89 |
| Working Capital Days | 311.32 | 1083.94 |
| ROCE % | — | -19.63 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Dec 2018 |
| --- | --- | --- | --- |
| Promoters | 68.55% | 80.74% | 80.74% |
| FIIs | 4.14% | 1.24% | 1.28% |
| DIIs | 14.44% | 10.13% | 10.07% |
| Public | 12.87% | 7.89% | 7.91% |
| No. of Shareholders | 222594 | 243396 | 249565 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 62.89% | 62.89% | 68.55% | 68.55% | 68.55% | 70.04% | 61.53% | 80.74% | 80.74% | 80.74% | 80.74% |
| FIIs | 4.06% | 5.03% | 4.19% | 4.14% | 3.38% | 2.66% | 2.84% | 1.24% | 1.33% | 1.29% | 1.28% |
| DIIs | 18.03% | 17.03% | 14.43% | 14.44% | 14.45% | 16.5% | 20.77% | 10.13% | 10.14% | 10.09% | 10.07% |
| Public | 15.02% | 15.05% | 12.82% | 12.87% | 13.61% | 10.79% | 14.85% | 7.89% | 7.78% | 7.88% | 7.91% |
| No. of Shareholders | 226934 | 224109 | 224412 | 222594 | 223088 | 221454 | 238221 | 243396 | 243363 | 247159 | 249565 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 135.14 | Sell |
| EMA (10) | 134.64 | Sell |
| SMA (20) | 141.41 | Sell |
| EMA (20) | 139.3 | Sell |
| SMA (50) | 148.36 | Sell |
| EMA (50) | 144.42 | Sell |
| SMA (100) | 146.83 | Sell |
| EMA (100) | 142.23 | Sell |
| SMA (200) | 131.84 | Sell |
| EMA (200) | 137.35 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 34.64 | Neutral |
| MACD (12,26,9) | -5.38 | Sell |
| Stochastic (14,3,3) | 13.83 | Buy |
| ADX (14) | 40.93 | Buy |
| Williams %R (14) | -77.6 | Neutral |
| ATR (14) | 6.45 | High Volatility |
| ROC (12) | -10.74 | Sell |
| Stoch RSI (14) | 45.66 | Neutral |
| UO (7,14,28) | 43.42 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2019-03-08 | [Redemption Of 11.20% Dena Bank Tier II Bonds Sr. X](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8af7d1df-a218-4f10-a65f-3a04064ba4a8.pdf) |
| 2019-03-02 | [Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ca760aba-8d73-4f55-a51a-c895be308fac.pdf) |
| 2019-02-27 | [Certificate Of Payment Of Annual Interest](https://www.bseindia.com/xml-data/corpfiling/AttachHis/420cd2bd-4a51-49a6-8926-5fe61ac20bc0.pdf) |
| 2019-02-21 | [Record Date for Scheme of Amalgamation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/D8330BB6_F6C8_4868_B9E3_A55DC1B2B5A2_153309.pdf) |
| 2019-02-21 | [Amalgamation Of Dena Bank And Vijaya Bank With Bank Of Baroda - Intimation Of Record Date](https://www.bseindia.com/xml-data/corpfiling/AttachHis/07f97441-48b4-4ac4-a235-1359983840fc.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210316.pdf) |
| Mar 2015 | [Financial Year 2015](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210315.pdf) |
| Mar 2014 | [Financial Year 2014](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210314.pdf) |
| Mar 2013 | [Financial Year 2013](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210313.pdf) |
| Mar 2012 | [Financial Year 2012](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210312.pdf) |
| Mar 2011 | [Financial Year 2011](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210311.pdf) |
| Mar 2010 | [Financial Year 2010](https://www.bseindia.com/bseplus/AnnualReport/532121/5321210310.pdf) |
| 2010 | [Financial Year 2010](https://archives.nseindia.com/annual_reports/AR_DENABANK_2009_2010_20082010120000.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/11/af231392-9162-4c48-b606-29458018f2ab.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2019-01-11 | Credit rating update — CRISIL |
| 2018-10-22 | Credit rating update — India Ratings |
| 2018-09-26 | Credit rating update — CARE Ratings |
| 2018-09-19 | Credit rating update — CRISIL |
| 2018-05-29 | Credit rating update — CARE Ratings |
| 2018-03-05 | Credit rating update — CARE Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:18.008Z.