Jai Mata Glass Limited is an Indian public entity primarily engaged in the **trading of glass** and acting as a **sales agent** for figured glass. The company serves as a vital link in the supply chain for the construction and manufacturing sectors, with a strategic operational focus on the **eastern and northern regions of India**. --- ### **Core Business Model & Operational Footprint** The company operates under a **single-segment business model** centered on the distribution and procurement of glass products. * **Primary Revenue Streams**: Revenue is generated through direct trading of glass and commissions earned as a **selling agent**. * **Market Focus**: The business is heavily aligned with the **residential and commercial construction** sectors. * **Asset-Light Strategy**: The company **does not own any immovable property**. It maintains a lean operational profile, focusing on physical verification of equipment and intangible assets while utilizing its platform to facilitate trade rather than heavy manufacturing. * **Going Concern Status**: Financial statements are prepared on a **going concern** basis, supported by its established role as a regional selling agent. --- ### **Strategic Evolution & Expansion Roadmap** Management is currently executing a transition to synchronize the company with a changing financial environment and scale its market presence. * **Aggressive Expansion**: The board has prioritized **aggressive concentration** on expansion plans to achieve greater operational heights and scale. * **Diversification**: The company is actively exploring **new glass products** and identifying diverse **business opportunities across India** to strengthen its market position. * **Value Chain Redefinition**: Management is redefining its internal value chain to optimize sourcing and distribution efficiency. * **Sustainability Drivers**: Growth strategies are increasingly leveraging the rising adoption of **recyclable materials** in the construction industry. --- ### **Leadership Transition & Governance Structure** Following the demise of the long-standing Promoter and Managing Director, **Mr. Chander Mohan Marwah**, in **May 2025**, the company has restructured its leadership to ensure continuity and growth. * **New Leadership**: **Mrs. Anu Marwah** was appointed as **Executive & Managing Director** effective **July 9, 2025**, for a **five-year term**. * **Board Composition**: The Board consists of **4 Directors**, including **2 Independent Non-Executive Directors**. * **Key Management Personnel (KMP)**: * **CFO**: Mr. Rajesh Arya (Appointed **May 6, 2024**). * **Company Secretary**: Ms. Amrita Mittal. * **Additional Director**: **Mr. Inesh Marwah** was appointed as an **Additional Non-Executive Director** on **July 9, 2025**. * **Shareholding Transition**: In **August 2025**, **2,48,74,260 equity shares** (a significant promoter stake) were transmitted to **Mrs. Anu Marwah**. * **Audit Oversight**: **M/s Khiwani Sood & Associates** serves as the **Statutory Auditor** for **FY 2024-25**. --- ### **Financial Profile & Capital Management** Jai Mata Glass maintains a conservative financial profile with a focus on maintaining a strong capital base to support future development. **Capital Structure (as of March 31, 2025)** | Metric | Details | | :--- | :--- | | **Authorized Share Capital** | **Rs. 11.75 Crore** (10 Cr Equity Shares @ **Rs. 1**; 1.75 Lakh Preference Shares @ **Rs. 100**) | | **Paid-up Share Capital** | **Rs. 10.00 Crore** (10 Crore Equity Shares of **Rs. 1** each) | | **Promoter Holding** | **44,528,960 shares (44.53%)**; **Zero Pledges** | | **Debt Status** | **Zero-Debt** (Transitioned following repayment of all borrowings) | **Comparative Financial Performance** | Particulars (Rs. in Lakhs) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | *Pending Finalization* | **-** | **39.16** | | **Net Profit / (Loss)** | *Pending Finalization* | **-** | **1.18** | | **Total Equity** | **215.34** | **308.73** | **288.92** | | **Debt-to-Equity Ratio** | **0.00** | **0.02** | **0.00** | *Note: Revenue in FY22 was **Rs. 78.25 Lacs**, indicating a period of volatility in trading volumes.* --- ### **Risk Management & Regulatory Landscape** The company operates in a **highly fragmented** market with intense competitive rivalry and specific regulatory challenges. **1. Financial & Market Risks** * **Credit Risk**: Maximum exposure was **Rs. 2.1 Crore** in **August 2025** (down from **Rs. 2.32 Crore** in 2024). The company uses **Ind-AS 37** for impairment assessment. * **Liquidity & Market Risk**: Managed by a **Board-level Risk Management Committee** focusing on matching asset-liability maturity profiles and mitigating **foreign currency exchange rate risk**. * **Profitability Constraints**: Due to low absolute profit levels, the company does not recognize **deferred tax assets** as future taxable profits are not yet deemed "probable." **2. Regulatory & Compliance History** * **SEBI/BSE Compliance**: In **August 2025**, the company was flagged for non-compliance with **Regulation 17(2)** regarding the frequency of Board Meetings. This was attributed to the health-related absence of the former Managing Director. * **Historical Issues**: A **Rs. 15 Lakhs** penalty and market ban imposed in **November 2021** (related to allegations of fund misuse) were fully resolved and lifted by **November 23, 2022**. * **Tax Settlements**: In **May 2025**, the company utilized the **Direct Tax Vivad Se Vishwas Scheme, 2024** to settle disputes for **AY 2013-14** and **AY 2017-18**, resulting in a total settlement payment of **Rs. 2.93 Crore**. **3. Operational Risks** * **Input Costs**: Success is highly dependent on sourcing **cost-effective raw materials**. * **Key Personnel Dependency**: The recent leadership transition highlights the company's historical reliance on core promoters for "visionary" guidance. * **Technological Disruption**: Management monitors the industry for shifts in glass manufacturing and distribution technology that could impact their agency model.