Jai Mata Glass Limited reported a standalone net loss of ₹2.76 lakh for the quarter ended September 30, 2026 (Q2FY27), marking a significant reduction from the ₹9.66 lakh loss recorded in the corresponding period of the previous fiscal year.

The company’s revenue from operations stood at ₹7.41 lakh, driven entirely by other operating income as net sales remained nil for the quarter. This represents an improvement from the ₹0.15 lakh total income logged in Q2FY26. The Board of Directors approved these unaudited financial results at a meeting held on October 9, 2026, following a limited review by statutory auditors Khiwani Sood & Associates.

Financial Performance Overview

For the half-year ended September 30, 2026 (H1FY27), the company clocked a net loss of ₹9.01 lakh, compared to a loss of ₹7.41 lakh in H1FY26. Total income for the six-month period was ₹13.18 lakh, up from ₹11.01 lakh in the year-ago period. The widening of the half-yearly loss despite higher income was primarily attributed to a rise in employee benefit expenses and other operational costs.

Cost Structure and Balance Sheet Signals

Total expenses for the quarter rose to ₹11.79 lakh from ₹9.81 lakh in Q2FY26. The increase was driven by employee benefit expenses, which climbed to ₹4.96 lakh from ₹3.34 lakh, and other expenditures, which increased to ₹6.81 lakh from ₹6.35 lakh. Finance costs were nil for the current quarter, down from ₹0.10 lakh in the prior year period.

On the balance sheet front, cash and cash equivalents declined to ₹12.15 lakh as on September 30, 2026, from ₹26.64 lakh as on March 31, 2026. Concurrently, trade receivables increased to ₹21.19 lakh from ₹13.73 lakh over the same period. The company holds fixed deposits of ₹150.00 lakh under bank balances other than cash and cash equivalents, which remained unchanged.

What the Numbers Show

A key observation in the data is the complete absence of net sales across all reported periods, including the full FY26 and both quarters of FY27. The company’s entire revenue base is derived from other operating income and other income. While the quarterly net loss narrowed significantly due to lower exceptional items and stable finance costs, the half-yearly loss widened by ₹1.60 lakh compared to H1FY26. This divergence suggests that while Q2 performance improved relative to the weak base of Q2FY26, the cumulative cost pressure in the first half outweighed the marginal income growth.

The Board noted that it is exploring and evaluating various business opportunities. The accounts have been prepared on a going concern basis despite the continued operational losses.

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.