Panthaora Limited, formerly JMG Corporation, has scheduled its 37th Annual General Meeting for September 30, 2026. The meeting will address the adoption of FY26 financials, the appointment of new auditors, and the ratification of recent corporate changes following a transition in control. Shareholders will vote on the re-appointment of directors and the formalization of the company’s name change and relocation to Rajasthan under the new promoter, Mr. Neerav Bairagi.
Panthaora Limited 37th AGM and Financial Update
Revenue for FY26 fell 25.15% to Rs 67.50 lakh, with a net loss of Rs 106.93 lakh.
Reader Takeaway: New ownership under Mr. Neerav Bairagi faces operational headwinds, including a significant net loss shift this fiscal.
What just happened
Panthaora Limited, formerly JMG Corporation Limited, will host its 37th Annual General Meeting (AGM) via video conferencing on September 30, 2026. The agenda includes the adoption of the fiscal year 2025-26 audited financial statements and the appointment of M/s SUNSVG & ASSOCIATES as statutory auditors for a five-year term. Shareholders are also expected to ratify the company's recent name change and the relocation of its registered office from Delhi to Rajasthan.
Why this matters
The meeting marks a formal transition period under the new promoter, Mr. Neerav Bairagi, who secured a 52.64% controlling stake following a mandatory open offer. The company's financials for FY 2025-26 show a sharp decline, shifting from a profit of Rs 8.45 lakh in the previous year to a net loss of Rs 106.93 lakh. This shift in profitability places significant importance on the management's new strategy and their ability to successfully pivot into proposed projects, such as municipal waste-to-energy initiatives.
Corporate Developments
The company has also secured approvals to increase its borrowing limits and investment capacities under Section 186, capping each at Rs 100 Crore. These measures are likely intended to facilitate the business expansion and restructuring plans under the new management team.
What to track next
Investors should monitor the execution of the company's new business model in Rajasthan and any updates regarding the debt-funded expansion plans authorized by the recent board approvals.