Jai Mata Glass Limited shareholders unanimously approved all three ordinary resolutions at its 46th Annual General Meeting held on September 29, 2026. The company disclosed that 50,519,951 votes were polled in favour, representing 100% of the valid votes cast, with zero votes against any resolution.

The meeting, chaired by Managing Director Anu Marwah at the registered office in Solan, Himachal Pradesh, saw the adoption of audited financial statements for FY26, the re-appointment of Inesh Marwah as director, and the appointment of Khushal Joshi & Associates as secretarial auditors for five years up to FY31.

Voting turnout and participation

As of the record date of September 22, 2026, the company had 34,509 shareholders. A total of 41 members attended the meeting in person, comprising two promoter group members and 39 public shareholders. No members attended through proxy or video conferencing.

The total number of shares outstanding stood at 100,000,000. Votes were cast by 50,519,951 shares, resulting in a total participation rate of 50.52% on outstanding shares. Promoters and promoter group members voted 44,565,460 shares, accounting for 100% of their holding. Public non-institutional shareholders voted 5,954,491 shares, representing 10.74% of their holding.

Resolution details

All three resolutions were passed as Ordinary Resolutions. The scrutinizer, CS Khushal Joshi, confirmed that no invalid votes were recorded across any category.

Adoption of annual accounts

The first resolution concerned the adoption of the audited standalone financial statements for the financial year ended March 31, 2026, along with the Board of Directors' and Auditors' reports. All 50,519,951 votes cast were in favour.

Director re-appointment

Shareholders approved the re-appointment of Inesh Marwah (DIN: 11192771) as a director retiring by rotation. This resolution also received 100% support from the polled votes.

Secretarial auditor appointment

The third resolution appointed M/s Khushal Joshi & Associates as the Secretarial Auditor for a term of five consecutive financial years from FY27 to FY31. The appointment was made pursuant to Section 204 of the Companies Act, 2013, and SEBI Listing Regulations.

Auditor profile and compliance

M/s Khushal Joshi & Associates is a professionally managed peer-reviewed company secretaries firm. Mr. Khushal Joshi, a member of the Institute of Company Secretaries of India (ICSI) with an LLB degree, brings experience in Company Law, FEMA, and secretarial audits. The firm has not been debarred and is eligible for appointment. It is not related to any director or key managerial personnel.

Voting mechanism and scrutiny

Remote e-voting remained open from September 26 to September 28, 2026. Members present at the AGM who did not vote remotely cast their votes via ballot. The e-voting facility was provided by MUFG Intime India Private Limited. After the polling period, votes were unblocked in the presence of witnesses Anuradha Khandelwal and Vaishali Sharma. The scrutinizer's report was issued on October 1, 2026.

Jai Mata Glass Limited has scheduled its 46th Annual General Meeting (AGM) for Tuesday, September 29, 2026, at its registered office in Solan, Himachal Pradesh. The meeting will consider the adoption of audited financial statements for FY26, which reported a net loss of ₹21.52 lakh, a significant improvement from the ₹50.66 lakh loss recorded in FY25.

The cut-off date for determining shareholder eligibility to vote is Tuesday, September 22, 2026. To facilitate the meeting, the Register of Members and Share Transfer Books for both Equity and Preference shareholders will remain closed from Wednesday, September 23, 2026, to Tuesday, September 29, 2026, inclusive.

E-Voting and Book Closure Details

Shareholders can cast their votes electronically on all resolutions set out in the AGM notice. The remote e-voting facility will commence on Saturday, September 26, 2026, at 9:00 am and conclude on Monday, September 28, 2026, at 5:00 pm. Detailed instructions for this process are available in the notice of the AGM.

The eligibility cut-off date of September 22, 2026, determines which members are entitled to vote via the remote e-voting platform. This aligns with the book closure period starting the following day.

Auditor and Director Updates

In a separate development, the company withdrew its proposal to appoint M/s KTM & Company as statutory auditors for FY27 to FY31. Consequently, M/s Khiwani Sood & Associates, the current statutory auditors, will continue their tenure under existing terms. The board issued a corrigendum on September 1, 2026, to clarify this reversal.

The appointment of M/s Khushal Joshi & Associates as secretarial auditors for five years from FY27 to FY31 remains unchanged. Mr. Khushal Joshi was also appointed as the Scrutinizer for the AGM postal ballot and e-voting process.

Additionally, the board approved the re-appointment of Mr. Inesh Marwah (DIN: 11192771), who retires by rotation. His appointment is subject to shareholder approval at the ensuing AGM.

Financial Performance Overview

The company's revenue from operations declined sharply to ₹10.85 lakh in FY26 from ₹43.33 lakh in FY25. However, the reduction in operating expenses helped narrow the bottom-line loss. Other income also fell significantly to ₹4.23 lakh from ₹36.64 lakh in the previous year, largely due to lower gains on investment sales.

What the Numbers Show

Despite the steep decline in revenue, the company managed to reduce its net loss by nearly 58% year-on-year. This improvement was driven by a slight decrease in total expenses, which fell to ₹36.60 lakh from ₹37.88 lakh in FY25. The fixed nature of certain operating costs meant that while revenue contracted significantly, expenses did not fall proportionately, resulting in continued operational losses. The absence of significant one-time gains in other income further highlights the reliance on core operations, which remain under pressure.

Change in Control

Subsequent to the close of the financial year, the Promoter and Promoter Group entered into a Share Purchase Agreement with acquirers for the proposed sale of equity shares. This transaction is expected to result in a change in the Promoter and Promoter Group and consequential change in control of the Company, subject to applicable statutory and regulatory approvals. A mandatory open offer has been made to public shareholders, valid up to September 4, 2026.