JMG Corporation Limited's Board of Directors approved the company's unaudited financial results for Q3 FY26 ended December 31, 2025, during their meeting held on February 12, 2026. The meeting commenced at 12:30 PM and concluded at 01:40 PM, with the board considering and approving the quarterly results along with the Limited Review Report from statutory auditors.

Regulatory Compliance and Public Disclosure

Pursuant to Regulation 30 read with Schedule III, Part A, Para A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, JMG Corporation has submitted its Q3 FY26 financial results to BSE Limited under scrip code 523712. The company has published the results in Financial Express (All India Edition in English) and Jansatta (Hindi and Vernacular Language Edition), fulfilling its regulatory disclosure obligations. The detailed financial results are available on the company's website at www.jmg-corp.in and BSE Limited's website at www.bseindia.com .

Financial Performance Overview

The company reported significant improvement in its financial performance with net loss reducing to ₹8.67 lakhs in Q3 FY26 from ₹18.74 lakhs in the corresponding quarter of the previous fiscal year. This represents a substantial 53.74% reduction in losses, demonstrating the company's progress toward profitability despite continuing operational challenges.

Revenue Growth and Nine-Month Performance

JMG Corporation demonstrated strong revenue growth with operations revenue increasing 79.17% to ₹21.50 lakhs in Q3 FY26 from ₹12.00 lakhs in Q3 FY25. For the nine-month period ended December 31, 2025, the company reported revenue from operations of ₹55.00 lakhs compared to ₹20.21 lakhs in the corresponding period of FY25, indicating sustained business momentum throughout the fiscal year.

Earnings Per Share and Capital Structure

The company's earnings per share improved significantly with both basic and diluted EPS at ₹-0.04 for Q3 FY26, compared to ₹-0.08 in Q3 FY25. The paid-up equity share capital remained stable at ₹578.95 lakhs with a face value of ₹2.50 per share. For the nine-month period, the EPS stood at ₹-0.36, reflecting the cumulative impact of operational performance across the period.

In a significant development in the ongoing corporate action, Mr. Neerav Bairagi has filed the Draft Letter of Offer (DLOF) with SEBI on December 18, 2025, for his mandatory open offer to acquire up to 26% of JMG Corporation 's voting capital. The company has received a copy of the Draft Letter of Offer and has disclosed the same to BSE Limited under Regulation 30 of SEBI (LODR) Regulations, 2015.

Open Offer Structure and Timeline

The comprehensive Draft Letter of Offer outlines the complete framework for the mandatory open offer triggered by Mr. Bairagi's agreement to purchase a substantial stake from the company's promoter.

Tentative Schedule of Activities

Srujan Alpha Capital Advisors LLP, as the Manager to the Open Offer, has outlined a detailed timeline for the offer process:

Financial Arrangements and Escrow

The acquirer has demonstrated financial readiness by depositing ₹81.00 lakh in the escrow account with Kotak Mahindra Bank Limited, representing more than 25% of the total consideration payable. This deposit confirms compliance with SEBI regulations for mandatory open offers.

Background Transaction Details

The open offer stems from Mr. Bairagi's Share Purchase Agreement dated December 04, 2025, with the current promoter Mr. Atul Kumar Mishra:

Regulatory Compliance and Documentation

The Draft Letter of Offer provides comprehensive details about the offer mechanics, risk factors, and settlement procedures. Key regulatory aspects include:

• No minimum acceptance level required
• Proportionate acceptance if oversubscribed
• Stock exchange mechanism through BSE Limited
• Both physical and demat shares eligible for tendering

Market Impact and Shareholder Options

The open offer provides public shareholders with an exit opportunity at ₹5.30 per share, representing a premium to the ₹4.20 price for the promoter stake acquisition. Upon completion, Mr. Bairagi will become the new promoter, potentially controlling up to 62.62% of the company if the offer is fully subscribed.

The company's shares are currently listed on BSE with scrip code 523712, and the offer follows all SEBI (SAST) Regulations for substantial acquisition of shares and takeovers. Shareholders will receive the formal Letter of Offer closer to the tendering period commencement.