JMG Corporation Ltd (523712)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, JMG's revenue was ₹0.0 Cr (-95.3% year on year, -91.8% on the previous quarter), and net profit ₹-0.1 Cr (a smaller loss than a year earlier); the operating margin was -748.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | -95.3% | -91.8% |
| Operating profit | ₹-0.1 | loss narrowed | loss narrowed |
| Net profit | ₹-0.1 | loss narrowed | loss narrowed |
| EPS (₹) | -0.04 | loss narrowed | loss narrowed |
| Operating margin | -748.6% | — | — |
📢 Recent Corporate Announcements
Shareholders of Panthaora Limited (formerly JMG Corporation Limited) approved the appointment of M/s SUNSVG & ASSOCIATES, Chartered Accountants, as Statutory Auditors at the company's 37th Annual General Meeting. The appointment is for a standard initial term of five consecutive years, running until the conclusion of the 42nd AGM. The microcap company reported FY26 revenue of Rs 0.69 crore and a net loss of Rs 1.07 crore, operating with minimal quarterly top-line revenue of Rs 0.0107 crore in Jun 2026.
- Approved appointment of M/s SUNSVG & ASSOCIATES (FRN: 118693W) as Statutory Auditors
- Appointed for a first term of 5 consecutive years from the 37th AGM until the 42nd AGM
- Shareholder approval obtained at the 37th AGM on October 1, 2026
- Company trades at a market cap of Rs 13 Cr with TTM net loss of Rs -1 Cr
JMG Corporation Limited announced that the Registrar of Companies (ROC), Delhi-I, has approved its corporate name change to Panthaora Limited, effective August 19, 2026. The Ministry of Corporate Affairs has issued a fresh Certificate of Incorporation under CIN L55101DL1989PLC362504. The company has initiated the process to reflect this change with exchanges and regulatory authorities. Financially, the micro-cap company carries a market cap of ₹14 crore and reported FY26 revenue of ₹0.68 crore with a net loss of ₹1.07 crore.
- Corporate name changed from JMG Corporation Limited to Panthaora Limited effective 19th August, 2026
- Fresh Certificate of Incorporation issued under CIN L55101DL1989PLC362504
- Company is required under Section 12 of the Companies Act to display the former name for 2 years
JMG Corporation reported a sharp 95.3% YoY decline in total income to ₹1.08 Lakhs for the quarter ended June 30, 2026, down from ₹23.29 Lakhs. Despite the revenue collapse, the net loss narrowed to ₹8.45 Lakhs from ₹36.05 Lakhs in the year-ago period, primarily due to a 90.5% reduction in 'Other expenses'. The company's revenue source shifted entirely from Professional Income (zero this quarter) to Trading Income (₹1.07 Lakhs). The board also appointed M/s. G & J Associates as Secretarial Auditors for FY 2026-27.
- Total Income fell to ₹1.08 Lakhs from ₹23.29 Lakhs in June 2025, a 95.3% decrease.
- Net Loss narrowed to ₹8.45 Lakhs compared to a loss of ₹36.05 Lakhs in the same quarter last year.
- Professional Income segment revenue dropped to zero from ₹22.50 Lakhs YoY.
- Other expenses were significantly reduced to ₹3.27 Lakhs from ₹34.39 Lakhs YoY.
- Trading Income of ₹1.07 Lakhs now represents nearly 100% of operational revenue.
JMG Corporation reported a severe contraction in operations for the quarter ended June 30, 2026, with revenue from operations falling 95.2% YoY to just ₹1.07 Lakhs. Despite the revenue collapse, the net loss narrowed to ₹8.45 Lakhs from a loss of ₹36.05 Lakhs in the year-ago period, primarily due to an 84% reduction in total expenses. The company's business model has shifted, with 'Professional Income' dropping to zero and being replaced by 'Trading Income'. With a TTM revenue of only ₹1 Cr and a market cap of ₹13 Cr, the company remains in a high-risk financial state with negligible operational scale.
- Revenue from operations plummeted 95.2% YoY to ₹1.07 Lakhs from ₹22.50 Lakhs.
- Net loss narrowed to ₹8.45 Lakhs compared to a loss of ₹36.05 Lakhs in June 2025.
- Total expenses were slashed by 83.9% YoY to ₹9.53 Lakhs, driven by lower employee and other costs.
- Professional Income segment revenue fell to zero, while Trading Income contributed ₹1.07 Lakhs.
- Employee benefit expenses decreased significantly to ₹4.95 Lakhs from ₹22.00 Lakhs YoY.
JMG Corporation reported a severe contraction in its top-line for Q1 FY27, with revenue from operations falling 95.2% YoY to just Rs 1.07 Lakhs. The company's primary revenue source shifted from Professional Income (now zero) to Trading Income. Despite the revenue collapse, net losses narrowed to Rs 8.45 Lakhs from Rs 36.05 Lakhs in the previous year's quarter, driven by a massive reduction in 'Other expenses' from Rs 34.39 Lakhs to Rs 3.27 Lakhs. The company remains a micro-cap with extremely thin operations and persistent losses.
- Revenue from operations plummeted 95.2% YoY to Rs 1.07 Lakhs from Rs 22.50 Lakhs.
- Net loss narrowed to Rs 8.45 Lakhs compared to a loss of Rs 36.05 Lakhs in Q1 FY26.
- Professional Income segment revenue fell to zero from Rs 22.50 Lakhs in the year-ago period.
- Total expenses were slashed by 83.9% YoY, falling from Rs 59.34 Lakhs to Rs 9.53 Lakhs.
- Appointed M/s. G & J Associates as Secretarial Auditors for the financial year 2026-2027.
JMG Corporation has scheduled a board meeting for August 13, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position with a TTM revenue of only ‑1 Cr and a negative operating margin of ‑152.2%. Investors should note the significant recent increase in promoter holding from 16.02% in March 2026 to 52.64% in June 2026. The upcoming results will be critical to see if this change in ownership structure leads to any operational improvement.
- Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results
- Company reported a net loss of ‑1.07 Cr for the full year FY26
- Promoter holding saw a sharp increase to 52.64% as of the June 2026 quarter
- TTM revenue stands at a minimal ‑1 Cr against a market cap of ‑12 Cr
JMG Corporation Ltd held an EGM on July 25, 2026, where shareholders approved several critical resolutions including an enhancement of borrowing limits and the creation of charges on company assets. The company also received approval to change its name and shift its registered office from Delhi to Rajasthan. While the resolutions passed with a requisite majority, approximately 16.23% of public non-institutional votes were cast against most items, including director appointments and borrowing hikes. Given the company's small scale (TTM revenue of Rs 1 Cr), these structural changes suggest a potential pivot or recapitalization effort.
- Total shareholders on the cut-off date of July 18, 2026, stood at 12,754.
- Resolutions for borrowing limit enhancement and asset charging passed with 94.67% of total votes in favor.
- Public non-institutional shareholders cast 294,150 votes (16.23% of their polled votes) against the majority of resolutions.
- The resolution for the change of company name was the only item to receive 100% approval from all voting categories.
- Shareholders approved the shifting of the registered office from Delhi to Rajasthan.
JMG Corporation (Market Cap: ₹11 Cr) held an EGM on July 25, 2026, to approve a comprehensive corporate restructuring. Key resolutions included a change in the company's name, shifting the registered office from Delhi to Rajasthan, and increasing borrowing and investment limits under Sections 180 and 186. The meeting also confirmed Neerav Bairagi as Chairman & Managing Director and approved related party transactions. This follows a significant change in control, with promoter holding increasing to 52.64% in June 2026 from 0% in December 2025.
- Shareholders considered 11 resolutions including a complete change of the company name and Articles of Association.
- Proposed shifting of the registered office from Delhi to Rajasthan, indicating a geographical pivot.
- Approval sought for enhancement in overall borrowing limits and creation of charges on company assets.
- Appointment of Neerav Bairagi as Chairman & Managing Director following a surge in promoter holding to 52.64%.
- Approval of purchases from related parties, which requires close monitoring given the company's small scale (₹1 Cr TTM revenue).
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