JOJO Ltd (formerly known as Madhuveer Com 18 Network Limited) has completed the postal ballot voting process for a material related party transaction and the re-appointment of a director. The remote e-voting, which commenced on April 22, 2026, concluded on May 22, 2026. The scrutinizer's report confirms that the resolutions have been passed with the required majority.

Voting Results Overview

The postal ballot was conducted pursuant to Regulation 44 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. A total of 13 members participated in the voting process, casting 9,348,907 votes in total. The results for the two special resolutions are detailed below.

Resolution 1: Acquisition of Business on Slump Sale Basis

The first resolution sought shareholder approval for a material related party transaction involving the acquisition of business on a slump sale basis. The resolution was passed with an overwhelming majority.

Resolution 2: Re-appointment of Independent Director

The second resolution concerned the re-appointment of Mr. Dipankar Bhuvneshwar Mahto (DIN: 08730286) as an Independent Director of the company for a period of three years. This resolution also received the necessary approval from shareholders.

Procedural Details

Mrs. Rupal Patel, Practicing Company Secretary, acted as the scrutinizer for the postal ballot. The record date for determining eligibility was April 17, 2026. The notice for the postal ballot was dispatched on April 21, 2026, and the remote e-voting facility was provided by National Securities Depository Limited (NSDL). No invalid votes were recorded during the process.

JoJo Limited (formerly known as Madhuveer Com 18 Network Limited) announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The results were reviewed by the Audit Committee and audited by M/s Shah Sanghavi and Associates, Chartered Accountants (Firm Reg. No. 140107W), who issued an unmodified audit opinion. The company's name change from Madhuveer Com 18 Network Limited to JoJo Limited became effective March 17, 2026.

Standalone Financial Performance

The company delivered a strong standalone performance for FY26, with revenue from operations rising sharply to Rs. 2,252.97 lakhs from Rs. 179.30 lakhs in FY25. Total standalone income for the year stood at Rs. 2,259.37 lakhs. The following table summarises the key standalone financial metrics:

Standalone total expenses for FY26 were Rs. 1,369.17 lakhs, compared to Rs. 103.26 lakhs in FY25, driven primarily by higher other expenses of Rs. 1,048.17 lakhs and employee benefits expense of Rs. 254.08 lakhs. Paid-up equity share capital stood at Rs. 2,548.07 lakhs as at March 31, 2026, against Rs. 2,448.07 lakhs in the previous year.

Consolidated Financial Performance

On a consolidated basis, the Group — comprising JoJo Limited and its subsidiaries, namely Sakshi Barter Private Limited, Navkar Events Private Limited, JoJo Studios Private Limited, Premier Adsworld Private Limited, and JoJo Global Inc. — reported a net profit of Rs. 561.58 lakhs for FY26, reversing a net loss of Rs. 165.95 lakhs in FY25. Consolidated revenue from operations grew to Rs. 2,401.41 lakhs from Rs. 439.23 lakhs in FY25. Key consolidated financials are presented below:

Balance Sheet Highlights

The standalone balance sheet as at March 31, 2026 reflects total assets of Rs. 7,683.50 lakhs, up from Rs. 3,840.18 lakhs as at March 31, 2025. Notable movements include a significant increase in trade receivables to Rs. 2,373.99 lakhs from Rs. 364.65 lakhs, and a rise in cash and cash equivalents to Rs. 728.46 lakhs from Rs. 7.77 lakhs. On the liabilities side, trade payables increased substantially to Rs. 1,979.10 lakhs from Rs. 13.22 lakhs. On a consolidated basis, total assets stood at Rs. 7,977.54 lakhs as at March 31, 2026, compared to Rs. 5,276.44 lakhs in the prior year.

Cash Flow Summary

The standalone cash flow statement for FY26 shows net cash generated from operating activities of Rs. 1,135.65 lakhs, compared to a net outflow of Rs. 1,179.14 lakhs in FY25. Net cash used in investing activities was Rs. 1,137.12 lakhs, primarily on account of purchase of fixed assets. Net cash generated from financing activities amounted to Rs. 722.16 lakhs, supported by proceeds from new share issuance of Rs. 400.00 lakhs and money received against share warrants of Rs. 877.62 lakhs. Cash and cash equivalents at the end of the standalone year stood at Rs. 728.46 lakhs, up from Rs. 7.77 lakhs at the beginning of the year.

Dividend and Corporate Developments

The Board of Directors recommended a final dividend of Rs. 0.05 per equity share of Rs. 10 each fully paid (0.5%), for FY26, subject to deduction of applicable taxes and approval of shareholders at the ensuing Annual General Meeting. During the quarter ended March 31, 2026, the company acquired a business vertical offering an online media streaming platform, film production, post-production, music composition, visual effects (VFX), sound design, and digital content creation on a going concern basis from its wholly owned subsidiary, Navkar Events Private Limited. The company also reported no outstanding defaults on loans or debt securities as at the reporting date, with total financial indebtedness disclosed as zero. No deviation or variation was reported in the utilisation of funds raised under the preferential issue of convertible warrants.