Trading · Founded 1989 · www.jmg-corp.in · BSE 523712 · · ISIN INE745F01011
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Business
JMG Corporation Ltd. operates in the Trading sector within India. As a trading company, its core business model typically involves the procurement and distribution of various goods, commodities, or products. The company aims to leverage its market knowledge, supply chain relationships, and logistical capabilities to source items efficiently and resell them to customers, often B2B, at a higher price. It primarily makes money through the margin generated from these buy-and-sell transactions.
Revenue Mix
Specific details regarding JMG Corporation Ltd.'s major business segments or a detailed revenue mix are not publicly available in the provided information. Companies in the trading sector often deal in a diverse range of products or commodities, which can vary over time based on market opportunities.
Industry
The Indian trading industry is generally fragmented, characterized by numerous players ranging from large conglomerates to small, specialized traders. Barriers to entry can be relatively low, especially for general trading activities. JMG Corporation Ltd. appears to be a smaller player within this competitive landscape, focusing on identifying and capitalizing on trading opportunities across various product categories. Its positioning likely depends on its network, efficiency, and ability to secure favorable terms with suppliers and buyers.
MOAT
Given its classification as a general "Trading" company, JMG Corporation Ltd. is unlikely to possess strong, durable competitive advantages or "moats." The trading industry generally has low barriers to entry. Moats like proprietary technology, significant economies of scale in specialized manufacturing, strong brand recognition, or high customer switching costs are uncommon for generic trading operations. Any advantage it holds would likely stem from efficient supply chain management, established supplier/customer relationships, or specific market arbitrage opportunities, which can be replicable and often short-lived.
Growth Drivers
Key factors that could drive JMG Corporation Ltd.'s growth over the next 3-5 years include:
Economic Growth: A robust Indian economy generally increases demand for various goods and commodities, creating more trading opportunities.
Expansion into New Products/Geographies: Diversifying into new, higher-margin product categories or expanding its reach to new markets could enhance revenue and profitability.
Efficient Sourcing & Logistics: Optimizing its procurement processes and logistics network to reduce costs and improve delivery times.
Capital Allocation: Strategic deployment of capital to capture larger or more profitable trading contracts.
Market Volatility: The ability to skillfully navigate and profit from price fluctuations in commodity markets.
Risks
Commodity Price Volatility: Fluctuations in the prices of goods being traded can significantly impact margins and profitability.
Intense Competition: The fragmented nature of the trading industry means constant pressure from numerous local and national competitors.
Supply Chain Disruptions: Issues like geopolitical events, natural disasters, or logistical bottlenecks can disrupt supply and demand, affecting operations.
Credit Risk: Exposure to counterparty risk from both suppliers and buyers.
Regulatory Changes: Changes in trade policies, import/export duties, or other regulations can impact business models and profitability.
Economic Slowdown: A downturn in the broader economy can reduce demand for goods, impacting trading volumes and margins.
Management & Ownership
Information regarding the specific promoters, management quality, and detailed ownership structure of JMG Corporation Ltd. is not provided in the prompt. Typically, in Indian listed companies, promoters often hold a significant stake and play an active role in management. Management effectiveness would be crucial for navigating the competitive trading landscape and capitalizing on opportunities.
Outlook
The outlook for JMG Corporation Ltd. is contingent on its ability to effectively execute its trading strategy within a dynamic and competitive environment.
Positive View: If the company can consistently identify profitable trading opportunities, manage its supply chain efficiently, and effectively mitigate market risks, it could see stable revenues and potentially growth driven by economic expansion. Strategic expansion into higher-margin niches or efficient capital deployment could also enhance profitability.
Cautious View: The company faces inherent challenges associated with the trading sector, including thin margins, intense competition, and exposure to commodity price volatility and supply chain disruptions. Without significant differentiation or scale, sustaining high growth or profitability could be challenging. Its performance will largely depend on its agile market response and prudent risk management.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Operating Profit | 0 | -0 | -0 | -0 | 1 | -0 | -0 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | -0 | -0 | -0 | 1 | -0 | -0 | -0 | -0 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | -0 | -0 | -0 | 1 | -0 | -0 | -0 | -0 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -0 | -0 | -0 | 1 | -0 | -0 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | 0 | -0.1 | -0.1 | -0.1 | 0.3 | -0.2 | -0.2 | -0 | -0.1 | -0 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 1 | 0 | 0 | 1 | 0 | 6 | 2 | 4 | 1 | 1 | 0 |
| Other Income | 1 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 1 | 2 | 1 | 1 | 1 | 1 | 6 | 3 | 4 | 1 | 1 | 0 |
| Total Expenditure | 1 | 1 | 1 | 1 | 1 | 1 | 8 | 4 | 4 | 1 | 1 | 0 |
| Operating Profit | -0 | 0 | 0 | 0 | 0 | -0 | -1 | -2 | -0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | 0 | 0 | 0 | 0 | -0 | -1 | -2 | -0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | 0 | 0 | 0 | 0 | -0 | -1 | -2 | -0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | 0 | 0 | 0 | 0 | -0 | -1 | -2 | -0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | -0.2 | 0.1 | 0.1 | 0 | 0 | -0 | -0.6 | -0.7 | -0.1 | 0.1 | 0 | -0.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -21% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 20% | 43% | 31% | 18% |
| ROE Average | 1% | -0% | -7% | -3% |
| ROCE Average | 2% | 1% | -6% | -2% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 7 | 7 | 7 | 7 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 1 |
| Total Liabilities | 9 | 10 | 10 | 9 | 10 | 10 | 11 | 8 | 8 | 8 | 8 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Other Non-Current Assets | 6 | 6 | 6 | 8 | 8 | 6 | 6 | 6 | 6 | 6 | 6 |
| Total Current Assets | 3 | 3 | 4 | 2 | 2 | 3 | 5 | 2 | 1 | 1 | 2 |
| Total Assets | 9 | 10 | 10 | 9 | 10 | 10 | 11 | 8 | 8 | 8 | 8 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -1 | -1 | -0 | -1 | -1 | -0 | -1 | -1 | -0 | 0 | 0 |
| Cash Flow from Investing Activities | 1 | 0 | 0 | 1 | 0 | 0 | 1 | -0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | -0 | 0 | 0 | -0 | -0 | -0 | 2 | -0 | -0 | -0 | -0 |
| Net Cash Inflow / Outflow | -1 | -0 | 0 | -1 | -0 | 0 | 1 | -2 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.2 | 0.13 | 0.09 | 0.01 | 0.03 | -0.02 | -0.55 | -0.69 | -0.14 | 0.07 | 0.04 |
| CEPS(Rs) | -0.2 | 0.13 | 0.09 | 0.01 | 0.03 | -0.01 | -0.55 | -0.69 | -0.14 | 0.07 | 0.04 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.35 | 4.47 | 4.56 | 4.57 | 4.61 | 4.6 | 3.83 | 3.14 | 3 | 3.07 | 3.11 |
| Core EBITDA Margin(%) | -465.75 | -15.6 | -51.19 | -247.21 | -86.08 | -96.36 | -25.89 | -81 | -13.59 | 2.14 | -5.28 |
| EBIT Margin(%) | -177.65 | 33.81 | 57.02 | 12.68 | 13.99 | -6.78 | -20.84 | -68.45 | -6.7 | 40.87 | 21 |
| Pre Tax Margin(%) | -177.65 | 33.81 | 57.02 | 9.93 | 13.94 | -6.82 | -21.19 | -71.65 | -8.89 | 27.26 | 9.37 |
| PAT Margin (%) | -196.21 | 24.48 | 38.32 | 12.56 | 11.25 | -6.82 | -21.19 | -71.65 | -8.89 | 27.26 | 9.37 |
| Cash Profit Margin (%) | -194.09 | 24.93 | 39.32 | 13.51 | 11.86 | -6.41 | -21.17 | -71.57 | -8.75 | 27.71 | 9.63 |
| ROA(%) | -4.15 | 2.74 | 1.8 | 0.27 | 0.62 | -0.32 | -12.57 | -16.9 | -3.85 | 2.05 | 1.03 |
| ROE(%) | -4.45 | 2.89 | 1.95 | 0.28 | 0.65 | -0.33 | -14.21 | -19.9 | -4.52 | 2.39 | 1.18 |
| ROCE(%) | -4.03 | 3.99 | 2.9 | 0.28 | 0.81 | -0.33 | -13.26 | -17.16 | -3.07 | 3.19 | 2.37 |
| Receivable days | 222.23 | 187.09 | 774.93 | 1578.75 | 508.83 | 738.41 | 86.87 | 223.73 | 85.86 | 407.2 | 227.6 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 33.72 | 107.1 | 44.54 | 1920.49 | 0 |
| PER(x) | 0 | 9.1 | 14.88 | 0 | 50.6 | 0 | 0 | 0 | 0 | 26.52 | 137.26 |
| Price/Book(x) | 0.4 | 0.26 | 0.29 | 0 | 0.33 | 0 | 0.21 | 0.56 | 0.53 | 0.62 | 1.61 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 5.59 | 0.29 | 0.81 | 20.34 | 4.35 | 8.73 | 0.06 | 1.99 | 1.2 | 8.12 | 13.23 |
| EV/Core EBITDA(x) | -3.18 | 0.84 | 1.39 | 149.21 | 29.84 | -137.16 | -0.31 | -2.92 | -18.23 | 19.65 | 62.24 |
| Net Sales Growth(%) | 166.67 | 415.63 | -55.9 | -55.52 | 159.54 | -14.76 | 1246.83 | -62.82 | 61.42 | -82.99 | 46.55 |
| EBIT Growth(%) | -109.46 | 198.13 | -25.62 | -90.11 | 186.36 | -141.3 | -4040.04 | -22.13 | 84.19 | 203.74 | -24.7 |
| PAT Growth(%) | -112.9 | 164.33 | -30.96 | -85.42 | 132.54 | -151.65 | -4083.94 | -25.73 | 79.98 | 152.2 | -49.61 |
| EPS Growth(%) | -112.9 | 164.33 | -30.96 | -85.42 | 132.54 | -151.6 | -3480.52 | -25.73 | 79.98 | 152.16 | -49.59 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.11 | 0.11 | 0.12 | 0.12 | 0.11 |
| Current Ratio(x) | 12.93 | 4.97 | 5.43 | 6.77 | 4.35 | 5.04 | 6.64 | 4.43 | 3.31 | 8.89 | 1.44 |
| Quick Ratio(x) | 12.93 | 4.97 | 5.43 | 6.77 | 4.35 | 5.04 | 6.64 | 4.43 | 3.31 | 8.89 | 1.44 |
| Interest Cover(x) | 0 | 0 | 0 | 4.62 | 263.05 | -163.61 | -59.59 | -21.37 | -3.07 | 3 | 1.81 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0.51 | 0.19 | 0.22 | 0.2 | 0.07 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 0 | 16.02 | 52.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 100 | 83.98 | 47.36 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0 | 0.37 | 1.22 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 2.32 | 1.94 | 1.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | -21% | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | +20% | +43% | +31% | +18% |
| ROE Average | +1% | 0% | -7% | -3% |
| ROCE Average | +2% | +1% | -6% | -2% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 36.62 | 0 | 16.02 | 52.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 63.38 | 100 | 83.98 | 47.36 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0 | 0.37 | 1.22 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 2.32 | 1.94 | 1.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 | 2.32 |
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