JOJO Limited (formerly Madhuveer Com 18 Network Limited) has recommended a 1:1 bonus share issue to its shareholders, subject to approval at its forthcoming Annual General Meeting. The Board also approved increasing the company’s authorized share capital from ₹38 crore to ₹70 crore.

The bonus issue entails issuing one fully paid-up equity share of face value ₹5 for every one existing fully paid-up equity share of ₹5 held by members as on the record date. This corporate action aims to enhance liquidity and broaden the shareholder base without altering the underlying ownership structure.

Capital Restructuring Details

To facilitate the bonus issue and future growth requirements, the Board approved altering the capital clause of the Memorandum of Association. The authorized share capital will rise by ₹32 crore, moving from ₹38 crore to ₹70 crore. This increase requires approval via postal ballot from shareholders.

Governance and Compliance

The Board adopted the Director’s Report and the Secretarial Audit Report for the financial year ended March 31, 2026. The Secretarial Audit was conducted pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment & Remuneration Personnel) Rules, 2014.

Mrs. Rupal Patel, a Practicing Company Secretary, has been appointed as the Scrutinizer for remote e-voting and voting at the AGM. The Register of Members and Share Transfer Books will remain closed from September 12, 2026, to September 18, 2026, inclusive, to determine eligibility for voting and bonus shares.

Upcoming Shareholder Meeting

The company will convene its 30th Annual General Meeting on September 18, 2026, at 3:00 pm through Video Conferencing. The meeting seeks approval for the bonus issue, the increase in authorized share capital, and other routine business matters. The draft notice for the AGM has been approved by the Board.

JOJO Limited (formerly Madhuveer Com 18 Network Limited) reported a significant improvement in its financial performance for the quarter ended June 30, 2026, driven by the recent acquisition of a media streaming and content creation business.

The company’s standalone net profit after tax rose to ₹109.26 lakh in Q1FY27, compared to ₹19.58 lakh in the corresponding quarter of FY26. This represents a substantial year-on-year increase, supported by a surge in revenue from operations.

Financial Highlights

Standalone revenue from operations jumped to ₹415.45 lakh in Q1FY27, up from ₹135.76 lakh in Q1FY25. Total income for the quarter stood at ₹415.67 lakh. The company also saw a rise in employee benefits expense to ₹84.44 lakh from ₹52.78 lakh in the prior year period, while other expenses increased to ₹110.83 lakh from ₹51.44 lakh.

On a consolidated basis, the group reported a net profit of ₹89.98 lakh for the quarter, reversing a net loss of ₹50.69 lakh recorded in Q1FY26. Consolidated revenue from operations grew to ₹451.86 lakh from ₹178.89 lakh in the previous year’s quarter.

What the Numbers Show

The dramatic shift in profitability is directly linked to structural changes within the group. In March 2026, JOJO Limited acquired a business vertical offering online media streaming, film production, post-production, music composition, visual effects, sound design, and digital content creation from its wholly owned subsidiary, Navkar Events Private Limited. This acquisition, combined with the company’s name change from Madhuveer Com 18 Network Limited effective March 17, 2026, marks a strategic pivot toward digital media services.

Corporate Actions and Governance

The Board of Directors approved the unaudited standalone and consolidated financial results on August 13, 2026. The results were reviewed by the Audit Committee and comply with Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shah Sanghvi & Associates, Chartered Accountants, issued their independent review report on the quarterly financial results. Partner Meet Shah confirmed that nothing came to their attention to suggest the statements contained material misstatements or failed to disclose required information under SEBI regulations.

During the quarter, the company received four investor complaints, all of which were resolved before the end of June 2026. No complaints remained pending as of June 30, 2026.