Jai Mata Glass Limited has appointed Mr. Aashish Gupta as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective June 1, 2026. The appointment fills the vacancy arising from the resignation of Mr. Rajesh Arya, the former CFO of the company. This leadership change aims to strengthen the company's financial oversight and operational efficiency.

The Board of Directors approved the appointment during a meeting held on June 1, 2026, based on the recommendations of the Audit Committee and the Nomination and Remuneration Committee. The decision aligns with Section 203 of the Companies Act, 2013, and Regulation 30 of the SEBI (Listing and Disclosure Requirements) Regulations, 2015.

Mr. Gupta brings over seven years of experience in financial management, accounting operations, taxation, and compliance. His expertise includes financial analysis, budgeting, cash flow management, and the preparation of financial statements. The company noted his strong analytical skills and extensive experience in monitoring financial performance and ensuring regulatory compliance.

The board meeting commenced at 3:30 p.m. and concluded at 4:00 p.m. IST. The company confirmed that Mr. Gupta is not related to any director or key managerial personnel. Additionally, he has not been debarred from holding the position of CFO or KMP by any SEBI order or other authority.

Key Appointment Details

Jai Mata Glass Limited announced its standalone audited financial results for the quarter and year ended March 31, 2026, following a Board of Directors meeting held on May 14, 2026. The company reported a net loss of ₹21.52 lakh for the fiscal year 2025-26, a reduction from the net loss of ₹50.66 lakh recorded in the previous year. The results were reviewed by the Audit Committee and approved by the Board in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequently, the company also filed a correction with BSE on May 14, 2026, to rectify an inadvertent clerical error in the Director Identification Number (DIN) of Managing Director Mrs. Anu Marwah, which was incorrectly mentioned as "00172818" instead of the correct DIN "00645865" in the signed financial statements. No other change or modification was made to the submitted financial results.

Financial Performance

For the year ended March 31, 2026, Jai Mata Glass recorded total income of ₹15.08 lakh, a significant decline from ₹79.97 lakh in the prior year. Revenue from operations stood at ₹10.85 lakh, down from ₹43.33 lakh in FY25, while other income came in at ₹4.23 lakh compared to ₹36.64 lakh previously. Total expenses for the year were ₹36.60 lakh, marginally lower than ₹37.88 lakh in the preceding year. The table below presents the key financial figures for the quarter and year ended March 31, 2026:

Balance Sheet Highlights

As at March 31, 2026, the company's total assets stood at ₹198.24 lakh, compared to ₹223.73 lakh as at March 31, 2025. Total current assets increased significantly to ₹196.18 lakh from ₹22.06 lakh, driven primarily by bank balances other than cash and cash equivalents of ₹150.00 lakh and cash and cash equivalents of ₹26.64 lakh. Total non-current assets declined to ₹2.06 lakh from ₹201.67 lakh. Total equity stood at ₹193.94 lakh, with equity share capital of ₹1,000.00 lakh and other equity of ₹(806.06) lakh. The key balance sheet figures are summarised below:

Cash Flow Summary

The cash flow statement for the year ended March 31, 2026 reflects a net increase in cash and cash equivalents of ₹19.39 lakh, compared to an increase of ₹6.32 lakh in the previous year. Cash and cash equivalents at the end of the period stood at ₹26.64 lakh, up from ₹7.25 lakh at the beginning of the year. Key cash flow details are presented below:

Operational Highlights and Corporate Developments

The company's selling agency business for the sale of Figured Glass ceased during the year. However, the Board stated that it is actively exploring and evaluating various business opportunities, and accordingly, the accounts have been prepared on a going concern basis. The Chief Financial Officer (CFO) resigned effective December 8, 2025, due to personal reasons, and the company has filed an application seeking an extension for the appointment of a new CFO. Additionally, the Board approved the re-appointment of Mr. Santosh Kumar Agarwal as Internal Auditor for the financial year 2026-27. Mr. Agarwal has over 41 years of experience in audit, accounts, and taxation, and is not related to any director or Key Managerial Personnel of the company.

In a notable tax development, the Income Tax Department issued final closure orders for Assessment Years 2013-14 and 2017-18, following the settlement of outstanding disputes under the Direct Tax Vivad Se Vishwas Scheme, 2024 in the previous year. The aggregate demand of ₹89.81 lakh had been settled upon payment of ₹92.75 lakh, which was recognised as current tax expense in FY 2024-25. With the issuance of closure orders, both matters stand fully closed, and no further liability or provision is required in the current year.

Compliance and Audit Opinion

The statutory auditors, M/s Khiwani Sood & Associates, Chartered Accountants (Firm Registration No. 040433N), issued an unmodified opinion on the audited standalone financial results for the quarter and year ended March 31, 2026. The declaration regarding the unmodified opinion was submitted by Managing Director Anu Marwah in accordance with Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The financial results have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) as prescribed under Section 133 of the Companies Act, 2013. In a subsequent filing on May 14, 2026, the company submitted revised signed financial statements to BSE reflecting the corrected DIN of Managing Director Mrs. Anu Marwah, confirming that no other change or modification was made to the financial results.