JMG Corporation Ltd

JMGCORP

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Market Cap

₹ 14 Cr

P/E

—

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Price

PE Ratio

Price

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Overview

Detailed Summary

JMG Corporation Ltd is an international management consulting firm based in India, offering services in infrastructure, India entry advisory, financial advisory, and media domains.

Founded as Irplast Adhesive India Ltd, JMG transitioned from manufacturing adhesive tapes to a diverse consulting focus over its history, reflecting significant strategic shifts.

The company operates manufacturing facilities in Haryana, India, supporting its historical adhesive tape business while expanding into consulting services to facilitate business transformations.

Though initially focused on manufacturing, JMG Corporation strategically repositioned itself into consulting, providing targeted and actionable business solutions.

Sector

Diversified

Industry

Diversified - Medium / Small

Market Cap

14 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

35.5

PEG Ratio

—

P/B Ratio

2.2

52W High

7.59

52W Low

4.40

Sales CAGR

45.16%

-26.17%

15.05%

10Y

-1.48%

Profit CAGR

-52.94%

—

10Y

-11.45%

ROE

TTM

-5.07%

-0.32%

-7.89%

10Y

-2.99%

ROCE

TTM

-2.99%

0.84%

-6.36%

10Y

-2.23%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NMSRESRC	60.00	18 Cr	22.99	11.78	0.00	51.36	5.48	1.10
MAITRI	34.18	15 Cr	—	3.41	0.00	-1.87	7.32	-4.71
ANTGRAPHIC	0.96	15 Cr	6.40	0.87	0.00	13.64	9.79	2.92
JMGCORP	6.06	14 Cr	—	2.17	0.00	-5.07	-2.99	-4.25
SUZLONFIBR	7.70	12 Cr	—	0.00	0.00	0.69	-3.14	-2.31
SPACEINCUBA	3.39	12 Cr	—	1.30	0.00	0.32	0.41	0.00
INDIFRA	15.95	12 Cr	1595.00	0.64	0.00	-2.20	-2.18	-2.13

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.01	0.23	0.20	0.17	0.01	0.07	0.12	0.70	0.23	0.11
Expenses	0.18	0.16	0.13	0.15	0.19	0.19	0.29	0.28	0.57	0.47
Operating Profit	-0.17	0.07	0.07	0.02	-0.18	-0.12	-0.17	0.42	-0.34	-0.36
OPM %	-1,700.00	30.43	35.00	11.76	-1,800.00	-171.43	-141.67	60.00	-147.83	-327.27
Other Income	0.06	0.06	0.06	0.06	0.01	0.01	0.01	0.22	0.01	0.01
Interest	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.04	0.03	0.02
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.14	0.11	0.12	0.07	-0.19	-0.14	-0.19	0.60	-0.36	-0.38
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-0.14	0.11	0.12	0.07	-0.19	-0.14	-0.19	0.60	-0.36	-0.38
EPS in Rs	-0.06	0.05	0.05	0.03	-0.08	-0.06	-0.08	0.26	-0.16	-0.16

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.45	0.20	0.53	0.45	6.03	2.24	3.62	0.62	0.90	1.12
Expenses	0.69	0.70	0.98	0.88	7.59	4.06	4.11	0.60	0.95	1.33
Operating Profit	-0.23	-0.50	-0.45	-0.43	-1.56	-1.82	-0.49	0.01	-0.05	-0.21
OPM %	-51.19	-247.21	-86.08	-96.36	-25.96	-81.09	-13.60	2.06	-5.67	-18.75
Other Income	0.50	0.53	0.53	0.40	0.31	0.28	0.25	0.24	0.24	0.25
Interest	0.00	0.01	0.00	0.00	0.02	0.07	0.08	0.08	0.10	0.11
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.26	0.02	0.07	-0.03	-1.28	-1.61	-0.32	0.17	0.08	-0.09
Tax %	32.79	-26.44	19.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	0.17	0.03	0.06	-0.03	-1.28	-1.61	-0.32	0.17	0.08	-0.09
EPS in Rs	0.08	0.01	0.03	-0.01	-0.57	-0.70	-0.14	0.07	0.04	-0.14
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.95	4.95	4.95	4.95	4.95	5.79	5.79	5.79	5.79	5.79
Reserves	3.91	4.08	4.10	4.17	4.15	3.08	1.48	1.16	1.33	1.41
Borrowings	0.00	0.00	0.00	0.00	0.00	0.96	0.77	0.82	0.87	0.60
Other Liabilities	0.70	0.74	0.35	0.40	0.68	0.69	0.43	0.45	0.16	0.49
Total Liabilities	9.56	9.77	9.41	9.52	9.79	11	8.47	8.22	8.15	8.29
Fixed Assets	0.01	0.00	0.01	0.00	0.00	0.00	0.68	0.68	0.67	0.68
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.75	0.75	0.75	0.75	0.75	0.00	0.00	0.00	0.00	0.00
Other Assets	8.80	9.02	8.65	8.77	9.04	11	7.79	7.55	7.47	7.61
Total Assets	9.56	9.77	9.41	9.52	9.79	11	8.47	8.22	8.15	8.29

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.51	-0.06	-1.25	-1.48	-0.27	0.00	0.20
Cash from Investing Activity	0.38	0.40	0.67	-0.33	0.09	0.16	0.33
Cash from Financing Activity	-0.00	-0.00	2.01	-0.26	-0.03	-0.03	-0.37
Net Cash Flow	-0.13	0.34	1.43	-2.07	-0.21	0.12	0.16

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%	36.62%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%	63.38%
Total Shareholders	12,631	12,625	12,619	12,614	12,610	12,604	12,603	12,597	12,751	12,738	12,729	12,712

Projection

Actions

Action Type

‌
‌

Announcements

Last 7 days

Newest

Sentiment

Open Offer

5 days ago

Open Offer Announcement for JMG Corporation

Mr. Neerav Bairagi is making an open offer to acquire up to 26% of JMG Corporation Limited's shares at a price of ₹5.30 per share.

Open Offer

5 days ago

Open Offer for JMG Corporation Limited

An open offer has been announced to acquire up to 26% of JMG Corporation Limited's shares at ¥5.30 each by Mr. Neerav Bairagi.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.01	0.23	0.20	0.17	0.01	0.07	0.12	0.70	0.23	0.11
Expenses	0.18	0.16	0.13	0.15	0.19	0.19	0.29	0.28	0.57	0.47
Operating Profit	-0.17	0.07	0.07	0.02	-0.18	-0.12	-0.17	0.42	-0.34	-0.36
OPM %	-1,700.00	30.43	35.00	11.76	-1,800.00	-171.43	-141.67	60.00	-147.83	-327.27
Other Income	0.06	0.06	0.06	0.06	0.01	0.01	0.01	0.22	0.01	0.01
Interest	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.04	0.03	0.02
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.14	0.11	0.12	0.07	-0.19	-0.14	-0.19	0.60	-0.36	-0.38
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-0.14	0.11	0.12	0.07	-0.19	-0.14	-0.19	0.60	-0.36	-0.38
EPS in Rs	-0.06	0.05	0.05	0.03	-0.08	-0.06	-0.08	0.26	-0.16	-0.16

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.45	0.20	0.53	0.45	6.03	2.24	3.62	0.62	0.90	1.12
Expenses	0.69	0.70	0.98	0.88	7.59	4.06	4.11	0.60	0.95	1.33
Operating Profit	-0.23	-0.50	-0.45	-0.43	-1.56	-1.82	-0.49	0.01	-0.05	-0.21
OPM %	-51.19	-247.21	-86.08	-96.36	-25.96	-81.09	-13.60	2.06	-5.67	-18.75
Other Income	0.50	0.53	0.53	0.40	0.31	0.28	0.25	0.24	0.24	0.25
Interest	0.00	0.01	0.00	0.00	0.02	0.07	0.08	0.08	0.10	0.11
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.26	0.02	0.07	-0.03	-1.28	-1.61	-0.32	0.17	0.08	-0.09
Tax %	32.79	-26.44	19.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	0.17	0.03	0.06	-0.03	-1.28	-1.61	-0.32	0.17	0.08	-0.09
EPS in Rs	0.08	0.01	0.03	-0.01	-0.57	-0.70	-0.14	0.07	0.04	-0.14
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4.95	4.95	4.95	4.95	4.95	5.79	5.79	5.79	5.79	5.79
Reserves	3.91	4.08	4.10	4.17	4.15	3.08	1.48	1.16	1.33	1.41
Borrowings	0.00	0.00	0.00	0.00	0.00	0.96	0.77	0.82	0.87	0.60
Other Liabilities	0.70	0.74	0.35	0.40	0.68	0.69	0.43	0.45	0.16	0.49
Total Liabilities	9.56	9.77	9.41	9.52	9.79	11	8.47	8.22	8.15	8.29
Fixed Assets	0.01	0.00	0.01	0.00	0.00	0.00	0.68	0.68	0.67	0.68
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.75	0.75	0.75	0.75	0.75	0.00	0.00	0.00	0.00	0.00
Other Assets	8.80	9.02	8.65	8.77	9.04	11	7.79	7.55	7.47	7.61
Total Assets	9.56	9.77	9.41	9.52	9.79	11	8.47	8.22	8.15	8.29

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.51	-0.06	-1.25	-1.48	-0.27	0.00	0.20
Cash from Investing Activity	0.38	0.40	0.67	-0.33	0.09	0.16	0.33
Cash from Financing Activity	-0.00	-0.00	2.01	-0.26	-0.03	-0.03	-0.37
Net Cash Flow	-0.13	0.34	1.43	-2.07	-0.21	0.12	0.16

Oscillators

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NMSRESRC	60.00	18 Cr	22.99	11.78	0.00	51.36	5.48	1.10
MAITRI	34.18	15 Cr	—	3.41	0.00	-1.87	7.32	-4.71
ANTGRAPHIC	0.96	15 Cr	6.40	0.87	0.00	13.64	9.79	2.92
JMGCORP	6.06	14 Cr	—	2.17	0.00	-5.07	-2.99	-4.25
SUZLONFIBR	7.70	12 Cr	—	0.00	0.00	0.69	-3.14	-2.31
SPACEINCUBA	3.39	12 Cr	—	1.30	0.00	0.32	0.41	0.00
INDIFRA	15.95	12 Cr	1595.00	0.64	0.00	-2.20	-2.18	-2.13