MIRA
INFORM REPORT
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Report Date : |
14.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ZODIAC
CLOTHING COMPANY LIMITED |
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Registered Office : |
10/76, Off Haines Road,
Worli, Mumbai – 400 018, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.06.1984 |
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Com. Reg. No.: |
11-33143 |
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CIN No.: [Company
Identification No.] |
U17100MH1984PLC033143 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMZ01061E |
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PAN No.: [Permanent
Account No.] |
AAACZ0151A |
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Legal Form : |
Closely held Public Limited Liability
company |
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Line of Business : |
Manufacturing and
Marketing of garments |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD
3500000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established and reputed company and a part of Zodiac Group. The
company is progressing well. Directors are reported as experienced and
respectable businessmen. Trade relations are reported as fair. Business is
active. Payments are usually correct and as per commitments. Fundamentals
are strong and healthy. The
company can be considered normal for business dealings at usual trade terms
and conditions. The
company can be regarded as promising business partner in medium to long-run. |
LOCATIONS
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Registered Office : |
10/76, Off Haines Road,
Worli, Mumbai – 400 018, Maharashtra, INDIA |
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Tel. No.: |
91-22-24964001 – 8/ 66677000, 11-73876(Telefax) |
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Mobile No.: |
91-22-24932846 / 24910145/66677279 |
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E-Mail : |
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Website : |
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Corporate Offices : |
India 10/76, Off Haines Road, Worli, Mumbai-400018. Tel : ( 00 91 22 ) 56677000 Fax : ( 00 91 22 ) 56677159 E Mail
: Contactus@Zodiacmtc.Com Germany Zodiac Clothing Co. S A Elisathtrasse 73, D-40217 Dusseldorf Germany Tel :
( 00 49 211 ) 516 2464 U. K. Zodiac Clothing Co. S A Unit No.18, The Old Power Station, 121 A Mortlake High Street London-Sw-14-8-Sn, Uk Tel : ( 00 44 208 ) 878 6427 Fax : ( 00 44 208 ) 876 5919 E Mail
: Jane.Hulse@Zodiacshirts.Co.Uk U.S.A Zodiac
Clothing Co. S.A. |
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Factory
1 : |
v Yelahanka, Bangalore - 560063. v
Plot No. 9(B),Bommasandra Industrial Area,Hebbagodi Village, Attibele Hobli, Anekal Taluka,Bangalore §
v Mahadevapura,
Whitefield, Bangalore - 560048. v Koramangala
Industrial Layout, Bangalore - 540034. v C -2/7, G.I.D.C., Umergaon, Gujarat. v A - 1, 181 / 1,
G.I.D.C., Umergaon, Gujarat. v
Zodiac ( UAE ) Limited, A1 Goze Industrial Area, Dubai,
U.A.E. |
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Branches
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No.184,Commercial
Street, Bangalore - 560001. Tel : 080-55333623 1E/15,Jhandewalan
Extension, New Delhi - 110055. Tel : 011-55905492 No.12,Khader Nawaz
Khan Road, Chaitanya Complex, Block No.12, SCO 11 A 1st
Floor, Madhya Marg, Chandigarh - 160018, H.No XXVII/369
(Upstairs), Krishna Vihar
Colony, Panampilly Nagar, Nanda Building, 1st
Floor, 31, Maqbara Road, Hazratganj, Lucknow - 226001 G.S.Plaza, Plot no
4, G-3, 8-2-675, Road No 1, Banjara Hills, Hyderabad - 500034 Trimurthy
Appartments, Ground floor, 97, Park Street, Calcutta - 700016 Shop No 9 & 10, 1261 Junglee Maharaj Road, Opp McDonalds,
Pune -
411004 43, Agrawal Nagar, Opp. Shiv Mandir, Indore
- 452001 |
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Store
Locator : |
East Zodiac Retail
Store, 37, Shakespeare Sarani, Kolkatta-700 017. Zodiac Retail
Store, Zodiac Retail
Store, Shop No.101, Forum
Mart Mall, Plot No.89, Kharvel Nagar, Unit : III, North Zodiac Retail
Store, F-40, South Extension-1, New Delhi-110 049. Zodiac Retail Store Zodiac Retail
Store, Ground Floor, B-45/47 Connought Place, Delhi - 110001. Zodiac Retail
Store, Shop No.11, JOP Plaza, S.P.Marg, Sector-18 Market, Noida, U.P. Zodiac Retail
Store, 16-B, Khan Market, New Delhi-110 003. Tel : 011 -
55905489. Zodiac Retail
Store, 6/87, Padam Singh Road, Karol Bagh, New Delhi. 17 A/10, WEA Azmal
Khan Road, Karol Bagh, New
Delhi. Jaintex (shop in
shop), 9E, Jainitex, Zodiac Counter,
Connought Place, New Delhi. Shop No.G16A, East Delhi Mall, Ground Floor, Plot No.1, Kaushambhi, Ghaziabad, U.P. Shop No.G16A, East Delhi Mall, Ground Floor, Plot No.1, Kaushambhi, Ghaziabad, U.P. Shipra Mall, Shop No.23, 24,
Shipra
Suncity, 9, Vaibhav Khand, Pacific Mall, Shop No.F24/25, 1st Floor, Plot No.1, Site No.4, Sai Baba Industrial Area, Near Kaushambhi, Near Anand Vihar junction, Ghaziabad. Zodiac Retail
Store, Sahu Building, Opp.Hanumaan Mandir, Hazratganj, Lucknow-226 001. Zodiac Retail
Store, SCO 43, Sector 17 E, Chandigarh-160 017. Zodiac Retail
Store, 116/3A, Lodhi Complex, The Mall, Ludhiana-141001. West Zodiac Retail
Store, "Heritage", 582, M.G.Road, Indore (M.P) Zodiac Retail
Store, Shop No.S-4, Treasure Island Mall, 2nd Floor, Zodiac Retail
Store, Shop No.9-10, 1261, J.M.Road, Pune-411 004. Shop No.G7(B), Nucleus Mall, 1, Church Road, Pune-411 001 Zodiac Retail
Store, Bandra Linking Road, Opp.Shoppers Stop, Bandra (W), Mumbai. Zodiac Retail Store, Shop #2, 262,L.T.Marg, Opp.G.T Hospital, Crawford Market, Zodiac Retail
Store, Napeansea Road, Near
Priyadarshini Park, Opp. Russian Consulate, Mumbai. Zodiac Retail
Store, Shop No.L13, Oberoi Towers,
Nariman Point, Mumbai-21. Zodiac Retail
Store, Shopping Arcade, Taj Mahal
Intercontinental, Apollo Bunder, Zodiac Retail Store
(Trufit & Co.), Shetty House,
Opp.Mumbai University, Shop No.5, CR2 Mall, Opp.Bajaj Bhavan, Backbay Reclamation, Block No. III, Nariman Point, Shop No.G17, Grand Hyatt, Nariman Point, Entry Level, Vakola,Santacruz(E), Shop No.G37, Inorbit Mall, Ground Floor, Mindspace, Link Road, Malad (w), Mumbai-400064.
Shop No.004, Infiniti Mall,
Nariman
Point, Lokhandwala & Linking Road
Junction, Near Fame Adlabs,
Andheri (W), Mumbai Shop No.S111( a
& b), 1st Flr., D Block, Nirmal Lifestyles, LBS Marg, Opp. Nirmal Nagar, Mulund (W), Mumbai-400 080. Shop No.004, Main
street Boulevard, Block 7, High Street Phoenix, ZOD Store, Unit
No.F-33, 1st Floor, Skyzone, Quorum Phase II, High Street Phoenix, 462, Senapati Bapat Marg, Lower Parel, Mumbai-13. Zodiac Retail
Store, Shop # H6, Parle Point Palace, Parle Point, Surat-395007, Gujarat. Shop No.BRF-01, 1st
Flr., 10Acres-Ahmedabad City Mall, Ambika Mills Compound, Kankaria Lake Nagar, Near Mani Nagar, Ahmedabad
-----7,Gujarat. South Zodiac Retail
Store, Shop No.DT:1, Cochin
International Airport, Nedumbassery,
Cochin-683111. Zodiac Retail
Store, Arakkathara, College Ground
Junction, M. G. Road,
Ernakulam, Cochin-682 011. Shop No.1, Le Meridien, Maradu-682 304, Cochin-6 Zodiac Retail
Store, Mariambi Buildings, Cherooty Road,
Calicut-673
032. Zodiac Retail
Store, Bluemoon Complex, MG Road, Bangalore-580 001. 032. Zodiac Retail
Store, #200, Brigade Road, Bangalore-560 001. Zodiac Retail
Store, Shop #007, The Forum, Koramangala Hosur Road, Shop No.C10, Leela Galleria,
Hotel
Leela Venture Limited, No.23, Air Port
Road, Zodiac Retail
Store, G.S.Plaza Plot #4, G/3, B/2/672, Road #1, Banjara
Hill, Hyderabad-500 034. Zodiac Retail
Store, Shop #4/3/523, Swetha Apartments, Himayat Nagar,
Zodiac Retail
Store, Shop No. 6-3-885/ 7C / 1 / G1, Amit Plaza, Zodiac Retail
Store, Chaitanya Center, # 12, Khader Nawaz Khan Road, Zodiac Retail
Store, G-131/A, Spencers Plaza, Phase-3, 769, Annasalai, |
DIRECTORS
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Name : |
Mr. M. Y. Noorani |
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Designation : |
Chairman |
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Name : |
Dr. Heinrich-Dietrich Dieckmann |
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Designation : |
Director |
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Name : |
Mr. A. Y. Noorani |
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Designation : |
Vice Chairman and Managing Director |
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Name : |
Mr. S. Y. Noorani |
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Designation : |
Managing Director and President |
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Name : |
Dr. S. Abid Hussain |
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Designation : |
Director |
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Name : |
Mr. M. L. Apte |
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Designation : |
Director |
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Name : |
Mr. S. M. Datta |
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Designation : |
Director |
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Name : |
Mr. Gurcharan Das |
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Designation : |
Director |
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Name : |
Mr. Berbhard Steinrucke |
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Designation : |
Director |
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Name : |
Mr. Deepak Parekh |
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Designation : |
Alternate Director to Mr. Berbhard Steinrucke upto 24.07.03 and thereafter Alternate to Dr. Heinrich Dieckmann w.e.f. 02.09.03 |
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Name : |
Mr. Y. P. Trivedi |
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Designation : |
Director |
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Name : |
Mr. S. R. Iyer |
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Designation : |
Director |
KEY EXECUTIVES
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Name
: |
Mr. Anoop Pillai |
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Designation
: |
Company Secretary |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Promoters'
Holdings |
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Indian Promoters |
2122816 |
25.38 |
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Foreign Promoters |
2966702 |
35.48 |
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Non Promoter's Holdings
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Banks |
1400 |
0.02 |
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FIIs |
1034212 |
12.37 |
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Others
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Private Corporate Bodies |
854800 |
10.22 |
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NRIs / OCBs / Foreign Others |
178095 |
2.13 |
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Any Other
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Indian Public |
124601 |
14.40 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and
Marketing of garments |
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Products : |
Generic Names of the Principal Products of the company are :
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PRODUCTION
STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Garments |
Pieces |
NA |
3348000 |
3088407 |
GENERAL
INFORMATION
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Bankers : |
v IDBI Bank, Mittal Tower, C-Wing, Nariman Point, Mumbai – 400 021 v Dena Bank, Industrial Finance Branch, Maker Towers `E’, Cuffe Parade, Mumbai – 400 005 v Central Bank of India, Chander Mukhi Building, Ground Floor, Nariman Point, Mumbai – 400 021 v ABN Amro Bank N.V., 74, Sakhar Bhavan, Nariman Point, Mumbai-400021 v Citi Bank N.A., Citi Tower, 61, Dr. S. S. Rao Road, Parel, Mumbai-400012 v State Bank of India, Commercial Branch, N.G. N. Vaidya Marg, Mumbai-400023 |
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Facilities : |
Secured Loans :
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Banking Relations : |
Satisfactory |
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Auditors : |
Bhandarkar
& Kale Chartered
Accountants Lentin
Chambers, Fort, Mumbai |
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Associates/Subsidiaries : |
Associates v Zodiac Private Limited v Zodiac Containers Private Limited v Miraj Marketing Company Private Limited v Algilani Holdings Private Limited v Zodiac UAE LLC v Metropolitan Trading Company (India) Limited v Zodiac Metropolitan Clothing Gmbh v Asia Tangible Investments Pte. Limited v Alchishtiya Holdings Private Limited v Modena Retailing Private Limited v Metropolitan Trading Company v Montage Corporation v Munraz Enterprises v Mariambai and Haji Noor Mohamed Noorani Foundation Trust Subsidiaries v Multiplex Collapsible Tubes Limited 10/76 Off Haines Road, Worli, Mumbai – 400 018 v Zodiac Clothing Company S.A. Promenade Noire 1, Neuchatel, Switzerland |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
8362626 |
Equity Shares |
Rs.10/- each |
Rs.83.626 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
83.626 |
41.813 |
34.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
842.507 |
845.085 |
523.600 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
926.133 |
886.898 |
557.900 |
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LOAN FUNDS |
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1] Secured Loans |
221.987 |
153.968 |
163.400 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
221.987 |
153.968 |
163.400 |
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DEFERRED TAX LIABILITIES |
10.568 |
12.634 |
0.000 |
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TOTAL |
1158.688 |
1053.500 |
721.300 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
332.170 |
221.184 |
168.300 |
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Capital work-in-progress |
6.057 |
52.949 |
78.000 |
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INVESTMENT |
275.795 |
447.151 |
171.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
343.904
|
255.328 |
235.100 |
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Sundry Debtors |
157.902
|
149.445 |
223.000 |
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Cash & Bank Balances |
20.652
|
16.383 |
16.800 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
331.081
|
193.375 |
90.200 |
|
Total Current Assets |
853.539
|
614.531 |
565.100 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
248.772
|
242.224 |
231.600 |
|
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Provisions |
60.101
|
40.138 |
30.300 |
|
Total Current Liabilities |
308.873
|
282.362 |
261.900 |
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Net Current Assets |
544.666
|
332.169 |
303.200 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.047 |
0.800 |
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TOTAL |
1158.688 |
1053.500 |
721.300 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
1833.696 |
1633.896 |
1652.200 |
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Profit/(Loss)
Before Tax |
132.160 |
113.593 |
129.900 |
|
Provision
for Taxation |
42.034 |
39.200 |
39.500 |
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Profit/(Loss)
After Tax |
90.126 |
74.393 |
90.400 |
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Export
Value |
1005.452 |
1016.124 |
NA |
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Import
Value |
246.461 |
236.663 |
NA |
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Total
Expenditure |
1701.536 |
1520.303 |
1522.300 |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2006 |
30.09.2006 |
31.12.2006 |
|
Sales Turnover |
385.600 |
492.200 |
592.500 |
|
Other Income |
18.400 |
32.300 |
34.500 |
|
Total Income |
404.000 |
524.500 |
627.000 |
|
Total
Expenditure |
369.300 |
465.100 |
522.200 |
|
Operating
Profit |
34.700 |
59.400 |
104.800 |
|
Interest |
3.300 |
4.700 |
04.800 |
|
Gross Profit |
31.400 |
54.700 |
100.000 |
|
Depreciation |
7.000 |
7.700 |
8.100 |
|
Tax |
9.000 |
18.300 |
30.900 |
|
Reported PAT |
18.100 |
29.600 |
53.400 |
200606 Quarter 1
Notes
Expenditure Includes
(Increase) / Decrease in Stock in Trade Rs.(20.20)million Consumption of Raw
Materials Rs.137.80 million Purchase of Finished Goods Rs.24.90 million Staff
Cost Rs.68.00 million Manufacturing & Other expenditure Rs.158.80 million
Tax Includes Provision for Current Tax Rs.8.10 million Deferred Tax Rs.(2.70)
million Fringe Benefit Tax Rs.0.90 million EPS is Basic Status of Investor
Complaints for the quarter ended June 30, 2006 Complaints Pending at the beginning
of the quarter Nil Complaints Received during the quarter 01 Complaints
disposed off during the quarter 01 Complaints unresolved at the end of the
quarter Nil 1. The above un audited financial results as reviewed by the Audit
Committee were taken on record by the Board of Directors in their meeting held
on July 24, 2006. The statutory auditors will be conducting a Limited Review of
the standalone financial result for the quarter ended June 30, 2006. 2. The
company is exclusively engaged in the business of clothing and clothing
accessories. This in the context of Accounting Standard (AS 17) 'Segment
Reporting', issued by The Institute of Chartered Accountants of India,
constitutes one single primary segment. 3. The income tax provision including
deferred taxation for the quarter is on estimated basis. The actual provision
will be made at the end of the financial year. 4. Provision for impairment loss
if any in accordance with accounting Standard 28 'Impairment of Assets' will be
made at the end of the financial year. 5. pursuant to accounting standard 15
(revised on employee benefits (As 15 issued by ICAI being mandatory with effect
from April 01, 2006. The Company has deified an additional amount of Rs 0.677
million for the quarter ended June 30, the additional obligations of the
company as on March 31, 2006 amounting to Rs 3.064 million has in accordance
with the transitional provision of As -15 been debited to General Reserve. 6.
The Company had raised Rs.300 million by way of a preferential issue of Shares
to a few financial investors during December 2004. The objects of the issue
inter alia were to part fund the acquisition of a shirt manufacturing facility
in the UAE through step down subsidiary, to aggressively grow the Company's own
stores over the next 3 years, and for the acquisition of a new corporate office
through a wholly owned subsidiary. In terms of Clause 43 of the Listing
agreement of the Company would like to inform that it has fully utilized the
amount raised for the objects of the issue by September 30, 2005 and there were
no variations. 7. Previous year/period figures have been regrouped, wherever
necessary.
200609 Quarter 2
NOTES:
1. The above un
audited financial results as reviewed by the audit committee were taken on
record by the Board of Directors in their meeting held on October 31 2006. The
statutory auditors will be conducting a limited review of the standalone
financial results for the quarter/half year ended 30.09.2006. 2. The company is
exclusively engaged in the business of clothing and clothing accessories. This
in the context of Accounting Standard AS17 'Segment Reporting' issued by the
Institute of Chartered Accountants of India constitutes one single primary
segment. 3. The income tax provision including deferred taxation for the
quarter is on estimates basis. The actual provision will be made at the end of
the financial year. 4. Provision for impairment loss if any in accordance with
Accounting Standard 28 'Impairment of Assets' will be made at the end of the
financial year. 5. There were no investor complaints pending to be resolved
either at the beginning or at the end of the quarter. Seven investor complaints
were received during the quarter ended 30.09.2006 and all were attended
promptly. 6. The company had raised Rs.30 millions by way of a preferential
issue of shares to a few financial investors during the December 2004. The
objects of the issue inter alia were to part fund the acquisition of a shirt
manufacturing facility in the UAE through step down subsidiary to aggressively
grow the company’s own stores over the next 3 years and for the acquisition of
a new corporate office through a wholly owned subsidiary. In terms of clause 43
of the listing agreement the company would like to inform that it had fully utilized
the amount raised for the object of the issue by 30.09.2005 and there were no
variations. 7. Previous year/period figures have been regrouped wherever
necessary.
200612 Quarter 3
Notes
Expenditure Includes (Increase) / Decrease in Stock in Trade Rs.11.30 million Consumption of Raw Materials Rs.181.90 million Purchase of Finished Goods Rs.38.40 million Staff Cost Rs.84.50 million Manufacturing & Other expenditure Rs.206.10 million Tax Includes Provision for Current Tax Rs.29.90 million Deferred Tax Rs.7.60 million Fringe Benefit Tax Rs.1.00 million EPS is Basic & Diluted Status of Investor Complaints for the quarter ended December 31, 2006 Complaints Pending at the beginning of the quarter Nil Complaints Received during the quarter 04 Complaints disposed off during the quarter 04 Complaints unresolved at the end of the quarter Nil 1. The above un audited financial results as reviewed by the Audit Committee were taken on record by the Board of Directors in their meeting held on January 20, 2007. The statutory auditors will be conducting a Limited Review of the standalone financial results for the quarter / nine months ended December 31, 2006. 2. The Company is exclusively engaged in the business of clothing and clothing accessories. This in the context of Accounting Standard (AS 17) 'Segment Reporting' issued by the Institute of Chartered Accountants of India constitutes one single primary segment. 3. The income tax provision including deferred taxation for the quarter is on estimates basis. The actual provision will be made at the end of the financial year. 4. Provision for impairment loss, if any, in accordance with Accounting Standard 28 'Impairment of Assets' will be made at the end of the financial year. 5. The Company had raised Rs.300 million by way of a preferential issue of shares to a few financial investors during December 2004. The objects of the issue inter alia were to part fund the acquisition of a shirt manufacturing facility in the UAE through step down subsidiary, to aggressively grow the Company's own stores over the next 3 years and for the acquisition of a new corporate office through a wholly owned subsidiary. In terms of clause 43 of the Listing Agreement, the Company would like to inform that it had fully utilized the amount raised for the object of the issue by September 30, 2005 and there were no variations. 6. On December 27, 2006 2,92,000 Stock Options were granted to employees and eligible Directors of the Company at a price of Rs.255.40 per option in terms of Zodiac Employees Stock Option Plan 2006. as approved by the Shareholders at the Annual General meeting held on August 31, 2006. 7. Previous year / period figures have been regrouped, wherever necessary.
KEY
RATIOS
|
PARTICULARS |
30.06.2006 |
30.09.2006 |
31.12.2006 |
|
Debt-Equity Ratio |
0.21 |
0.22 |
0.29 |
|
Long Term Debt-Equity Ratio |
0.01 |
0.00 |
0.00 |
|
Current Ratio |
1.44 |
1.33 |
1.39 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
4.42 |
5.48 |
7.37 |
|
Inventory |
5.60 |
6.16 |
6.11 |
|
Debtors |
10.91 |
8.12 |
7.85 |
|
Interest Cover Ratio |
6.61 |
7.00 |
7.13 |
|
Operating Profit Margin(%) |
10.63 |
9.73 |
10.59 |
|
Profit Before Interest And Tax Margin(%) |
9.26 |
8.76 |
9.91 |
|
Cash Profit Margin(%) |
6.74 |
5.90 |
6.61 |
|
Adjusted Net Profit Margin(%) |
5.37 |
4.92 |
5.93 |
|
Return On Capital Employed(%) |
14.19 |
15.02 |
22.30 |
|
Return On Net Worth(%) |
9.93 |
10.30 |
17.13 |
STOCK PRICES
|
Face
Value |
Rs.10.00/- |
|
High |
Rs.290.00/- |
|
Low |
Rs.255.35/- |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject was promoted by Mr. M. Y. Noorani and others. It was originally incorporated as a private limited liability company. It became a deemed public limited liability company in December, 1993 and went public in January, 1994.
It set up a 100% Export Oriented Unit at Umbergaon, Gujarat for manufacture and export of men’s clothing including shirts, beach wear and pyjama suits with an annual licensed capacity of 100000 units in December, 1984. Initially, it concentrated on the erstwhile Soviet Union by selling to the Central Buying Organisation.
In the late eighties, the company also started exploring the sophisticated markets of western Europe. Three companies Zodiac Textiles & Apparels, Export, Multiplex Packaging and Bangalore Knitwear were amalgamated with the company. To upgrade production techniques and to meet the exacting quality standards of West European makers, the company, re-designed and modernised its entire plant with technical assistance from a leading European company in 1989. The company went public with its maiden issue in June, 1994 at a premium of Rs.100 per share to dilute the promoters’ holdings to 75%.
It has installed a new production facility in Bangalore with a capacity of 0.500 million shirts per annum. Commercial production of this unit has commenced in July, 1995. Also to boost its export it has invested in a fully owned subsidiary in Switzerland in June, 1995. This has enabled the company to increase its export. The company has three subsidiary companies i.e. Mayfair, Multiplex Collapsible Tubes and Zodiac Clothing S.A.
During 2002-03, Mayfair the subsidiary of the company was amalgamated with the company following the approval from High Court of Mumbai.
It has acquired the whole business of Metropolitan Trading Company, a manufacturing readymade garment on a going concern basis. The company entered into a technical agreement with Zodiac UAE LLC, Dubai for a period of 5 years.
The company is in trade terms with :-
v Allpro Plastics
v Aqreens
v Arrow Webtex
v Prichiki Prints
v Mandhana Boremann
v N. P. Polyprints
v Bharat Plastic Industries
v Chetna Print Pack Private Limited
v Ensar Offset Printers
v Gajraj Plasto Pack Private Limited
v Kailash Ribben Factory Limited
v Kokama International Limited
v Lily Labels
v Printographic
v Priti Plasto Exim Limited
v Collar Pack
v Shah Industries
v Shah Packwell Private Limited
v Trimurti Plastics
v Trimurti Polychem Private Limited
v Trimurti Polymers
v Vasant Labels Private Limited
v Metal Products
v Sunrise Flexo
v Novel Plast
v Rathod Trading Company
FIXED
ASSETS
The company’s fixed assets of important value include Freehold/Leasehold Land, Building, Furniture and Fixtures, Plant and Machinery, Vehicles, Computer and Office Equipment and Electrical Installation.
DIRECTORS'
BIOGRAPHIES
Mr. M. Y. Noorani
Chairman
Mr. M.Y. Noorani, is the founder of ZODIAC and the founding father of
the Clothing industry in India. He was the founder of the Clothing Manufacturers
Association of India as well as its President for three consecutive terms. He
has served on the managing committee of several trade organizations, including
Indo German Chamber of Commerce, Bombay Chamber of Commerce, Indo Italian
Chamber of Commerce as well as E.U. Chamber of Commerce, where he was the
President for two terms. He has led Zodiac in its continuous quest for
excellence and has also been the recipient for Lifetime achievement awards from
IFA Lycra Images and also from the Clothing Associations - CMAI and CIAE.
Dr. S. Abid Hussain
Director
Dr. S. Abid Hussain is a retired I.A.S. officer and the former
Secretary, Govt. of India, Ministry of Commerce. He was the special Rapporteur
of the U.N. Commission on Human Rights, Geneva for about 6 years. He was also a
member of the Planning Commission and the Ambassador of India to the United
States of America. He is currently a director of G.V.K. Industries Ltd., GV.K.
Taj Hotels & Resorts Ltd., G.V.K Power & Infrastructure Ltd., Wbckhardt
Ltd., Havel's India Ltd., Shree Cement Ltd. and the Chairman of Hyderabad
Flextech Ltd. & Nagarjuna Oil Corporation Ltd. He is also principal trustee
of Morgan Stanley Asset Management (India) Ltd.
Mr. M. L. Apte
Director
Mr. M. L. Apte, former Sheriff of Bombay is also the former President of
Maharashtra Chamber of Commerce, Bombay Chamber of Commerce, Cricket Club of
India, Indian Sugar Mills Association, Member of the Indjan Cotton Mills
Federation and former Chairman of the Textiles Committee. He is currently the
Chairman of Apte Amalgamations Ltd. and a Director of Lintas India Pvt. Ltd.,
Grasim Industries Ltd., Tata Asset Management Pvt. Ltd., Bajaj Hindustan Ltd.,
Standard Industries Ltd., The Bombay Burmah Trading Corporation Ltd. New
Phaltan Sugar Works Ltd., The Raja Bahadur Poona Mills Ltd., Kulkarni Power
Tools Ltd. and Dr. Writer's Food Products Pvt. Ltd.
Mr. S. M. Datta
Director
Mr. S. M. Datta is the former Chairman of Hindustan Lever Ltd. He is
also the former President of Bombay Chamber of Commerce and Industry and is
also the past President of Council of EU Chamber of Commerce.
He is currently the Chairman of Castrol India Ltd., Philips Electronics
India Ltd., BID Parry (India) Ltd., Tata Trustee Co. Pvt. Ltd. and IL & FS
Investment Managers Ltd. He is currently a Director of Peerless Gen. Fin. and
Inv. Co. Ltd., Goodlass Nerolac Paints Ltd., Transport Corporation of India
Ltd., BOC India
Ltd., Atul Ltd., Bhoruka Power Corporation Ltd., TIL Ltd., M. Vis ves
vary a. Industrial Research &
Development Center, Ambit Corporate Finance Pte. Ltd., Chandra,s
Chemical Enterprises Pvt. Ltd. and
Rabo India Finance Pvt. Ltd.
Mr. Bernhard Steinruecke
Director
Mr. Bernhard Steinruecke is the Director General of Indo-German Chamber
of Commerce. He was the Managing Partner on the Board of ABC Bank GmbH, Berlin
and representative of the Indo-German Chamber of Commerce, Berlin, Germany.
After acquiring an Honours degree in law from the University of Heidelberg, he
became the Assistant Judge at the Supreme Court of Hamburg. He later on joined
the Deutsche Bank AG and rose to become its Joint Chief Executive Officer,
India. He is currently a Director of FAG Bearings India Ltd. and Motor
Industries Co. Ltd.
Dr. Heinrich-Dietrich Dieckmann
Director
Dr. Heinrich-Dietrich Dieckmann is a retired German diplomat whose
entire career was focused mainly on
international economic affairs. During his illustrious career he has
served as the German Ambassador to India, Head of the Economic Department for
German Mission to the United Nations, German Ambassador
to Japan, Director General for Economic Affairs and European Integration
in German Foreign office. He was the Foreign Office Representative in all
negotiations with the Soviet Union and later on Russia, dealing with the economic
aspects of German unification.
Mr. Deepak Parekh
Director
Mr. Deepak Parekh is a Fellow of the Institute of Chartered Accountants,
(England and Wales). He has been a member of various Committees setup by the
Government of India, especially in the field of Finance and Capital Market. He
is currently the Chairman of H.D.F.C. Ltd., Infrastructure Development &
Finance Co. Ltd., Glaxo Smithkline Pharmaceuticals Ltd., HDFC Asset Management
Co. Ltd., HDFC Chubb General Insurance Co. Ltd., HDFC Standard Life Insurance
Co. Ltd. and Siemens Ltd. He is currently a Director of Hindustan Lever Ltd.,
Castrol India Ltd., Mahindra & Mahindra Ltd., Motor Industries Co. Ltd.,
Hindustan Oil Exploration Corporation Ltd., Borax Morarji Ltd., Bharat Bijlee
Ltd. Exide Industries Ltd. and The Indian Hotels Co. Ltd., Lafarge India Pvt.
Ltd.
Mr. Y. P. Trivedi
Director
Mr. Y. P. Trivedi is the former President of Indian Merchants Chamber,
The Chamber of Income Tax Consultants, Indo-African Chamber of Commerce. He is
currently the Chairman of Telstar Travels Pvt. Ltd., Trivedi Consultants Pvt.
Ltd., Zandu Pharmaceuticals Works Ltd. and Sai Service Station Ltd. And also a
Director on the Board of Reliance Industries Ltd., Reliance Petroleum Ltd,
Birla Power Solutions Ltd., Metro Exporters Pvt. Ltd., Safari Industries Ltd.,
Supreme Industries Ltd., Clare Mont Trading Pvt. Ltd., Colosseum Sports and
Recreation International & Bloomingdale Estates Pvt. Ltd. He is also a
member of the Managing Committee of Indian Merchants' Chamber. Mr. Trivedi has
also served as a Director of Central Bank of India, Dena Bank, Central Bank
Executors and Trustee Company Ltd.
Mr. S. R. Iyer
Director
Mr. S. R. Iyer is the former Chairman and Director of Credit Information
Bureau (India) Limited a joint venture of the State Bank of India & HDFC
Limited. Mr. Iyer has vast knowledge and rich experience in the banking
industry. He was also the Managing Director of State Bank of Mysore and retired
as the Managing Director of the State Bank of India. He has also been a
Director of National Stock Exchange of India Limited and GE Capital Business
Process Management Services Pvt. Ltd. Mr. S. R. Iyer is presently the Director
of Dhara Vegetable Oil & Foods Co. Ltd., KSK Energy Ventures Ltd. and IDMC
Ltd.
Mr. A. Y. Noorani
Vice Chairman & Managing Director
Mr. A.Y. Noorani joined the House of ZODIAC in 1969 and after
successfully developing its export business and scaling up its overall
operations became Managing Director of the organization in 1980. He has completed
the Advance Management Programme at Harvard University, Boston, and is today
responsible for overseeing the management of the organization, Corporate
affairs and Finance. He was Past-President of the Indo- German Chamber of
Commerce and is presently on the Managing Committee of the said Chamber and
also an Honorary Adviser of CIAE. He is a member of Indo-German Consultative
Group constituted by the Ministry of External Affairs, New Delhi and also a
member of the CII-National Committee on Textiles.
Mr. S. Y. Noorani
Managing Director & President
Mr. S. Y. Noorani joined the House of ZODIAC in 1982. He was responsible
for setting up the company's
state-of-the-art manufacturing facilities and international marketing
operations in London, Dusseldorf and
New York. He leads a dynamic team of professionals in the running of the
organization ranging from design and manufacturing to sales and marketing which
has successfully launched the brand ZOD! in the Indian market. Mr. S. Y.
Noorani is the Co-Chairman of Indo-Spanish Business Committee of Bombay Chamber
of Commerce and is also on the Managing Committees of Indo- Italian Chamber of
Commerce, Confederation of Indian Industry [Western Region] and CMAI. He is a
member of the Cll-Steering Committee on Indo- EU Trade & Investment in
Textiles and also of Young Presidents Organisation.
TURNOVER &
PROFITS:
The Directors wish to inform you that during the financial year ended 31
st March, 2006, the turnover of the company increased from Rs. 150.27 millions
in the previous year to Rs.167.66 millions. The net profit before tax stood at
Rs. 13.22 millions as against Rs. 11.36 millions in the previous year. The net
profit after tax for financial year ended 31st March, 2006 stood at Rs. 9.01
millions as against Rs. 7.44 millions in the previous financial year.
SUBSIDIARY
COMPANIES:
The audited statement of Accounts of company's subsidiaries viz.
Multiplex Collapsible Tubes Ltd. & Zodiac Clothing Company S.A.,
Switzerland, Zodiac Clothing Company (U.A.E.) LLC together with the Report of
Directors and the Auditors as required under Section 212 of the Companies Act,
1956, are attached to this report.
OUTLOOK:
The pressure on pricing in the export market is stabilizing due to
imposition of safeguard provisions on China by the two major importing blocks
viz. USA and the European Union. The economic situation in Germany continues to
be uncertain although business sentiment seems to be more positive. The
Government of India has enhanced the cap on the duty drawback [although further
enhancement needs to be considered, to fully reimburse the effect of all taxes
on inputs and to encourage higher unit value realization. This would favourably
impact the company once its implemented.
The company's branded business continues to benefit from the expansion
of the retail across the country, the growth of organized retail chains, the
additional opening of the company's own stores, the burgeoning middle class and
their propensity to spend.
The top line and the bottom line of the company, especially in the
branded business seem very promising consequently.
Overview:
Clothing exports from India have shown an increase of 27%, registering
exports of over USD 7 billion in 2005- 2006 as against USD 5.5 billion in
2004-2005. After the phasing out of quota system in 2005, Indian exports to the
U.S.A. have grown by over 34%, and European Countries by about 30%
approximately. This can be partly attributed to doubling of garment sourcing
from India by leading retail chain stores. The total volume of such exports
has, in fact, grown around USD 2.5 billion during the last fiscal year
(2005-2006). This has been achieved by sacrificing of margins, in articles of
clothing where China has been restrained.
On the domestic front, India is positioned as the leading destination
for retail investment. This followed from the saturation in western retail
markets and we find giant global retailers preparing to enter the Indian
market. The growth of organized retail chains has significantly benefited the
clothing industry in India. Presently 95 malls are in operation and more
than.225 malls are expected to open in the next 2 to 3 years. A shopping
revolution is evolving in India where, significant population between 20-34 age
groups in the urban regions is expected to boost the demand significantly.
Industry Structure
and developments:
The clothing sector in India is a key catalyst of the growth of the
Indian economy and society. The Textile Committee in a recent study has
estimated that Rs.250000 millions of clothing exports in the year 2004-05
provided direct employment to approximately 2.5 million people. It is the
largest generator of dignified and gender sensitive employment, both directly
and indirectly, in the manufacturing sector The clothing sector also generates
very significant foreign exchange earnings. The EU and the US are India's major
export destinations accounting for almost 60% of the country's clothing
exports.
Endowed with inherent advantages of assured supply of raw materials and
human skills, the clothing industry in India is undergoing radical changes with
a view to upgrading its technology at par with the world. Investments and
ongoing modernization have helped the clothing and textile industry to become
competitive. The process of liberalization and globalization has compelled the
industry to become globally competitive, both in terms of price as well as
quality.
Opportunity and
threats
The levy of safeguard provisions by the US and the EU on China until
2008 and 2007 respectively, have begun to benefit Indian Clothing as well as
Textile exporters. India's market share in the U.S. Textile import market
touched an all-time high of 7% in March 2006. China remains the largest
Textiles/Clothing exporter to the U.S. with a market share of 20.6%.
The existing safeguard provisions imposed by the US and E.U. on China's
Clothing import will go in 2008 and 2007 respectively, which will trigger
severe competition between China and India's clothing exporters in order to
dominate the international market. Hence the coming years are very crucial for
the country's clothing industry to prepare and devise strategies to face the
possible aggressive competition from China.
The company's branded business continues to benefit from the expansion
of the retail across the country, the growth of organized retail chains, the
additional opening of the company's own stores, the burgeoning middle class and
their propensity to spend.
India's advantages in operating as a sourcing base for global buyers lie
in its vast raw material base, low labour costs [which form a significant
constituent of the cost of production] and its ability to undertake almost
every stage of production process. How India can harness this into sustainable
competitive advantage will determine the degree of success.
What is needed now is enhanced efficiency and substantial increase in
weaving capacity for cotton fabrics on shuttle less looms at prices comparable
to the prices in China. Indian players need to focus on reduction in lead
times, cost cutting measures and thus sharpen their competitiveness. We need to
also in the meanwhile, negotiate bi-lateral and multi-lateral trade agreements
with the USA and EU to capture market share in these major blocks.
India can no longer hope to export its taxes. Issues of transaction
cost, infrastructure of global standards need to be swiftly addressed for
sustainable competitive advantage.
On the part of the government, it is suggested that suitable provisions
be enacted in the Income-tax Act 1961, to encourage R&D need to be enacted
without delay, and also tax exemption similar to exemptions provided to the
Software industry u/s. lOA / 10B of the Income-tax Act.
Further deduction/exemption should be granted to the existing apparel
units so as to save the cost of shifting and establishing new units, as also to
maximize asset turnover by encouraging employment through additional shifts.
Rationalization of our labour policy needs to be also enacted
expeditiously.
Segment wise/product
wise performance :
Segments have been identified in line with the Accounting standard on
segment reporting taking into account the organization structure as well as the
differential risk and returns of these segments. The company is exclusively
engaged in the business of clothing and clothing accessories. This in he
context of Accounting Standard (AS 17) "Segment Reporting", issued by
The Institute of Chartered Accountants of India constitutes one single primary
segment.
Turnover &
Profits :
The Directors wish to inform you that during the financial year ended 31
st March, 2006, the turnover of the company increased from Rs. 1502.7 millions
in the previous year to Rs. 1676.6 millions. The net profit before tax stood at
Rs. 132.2 millions as against Rs.113.6 millions in the previous year. The net
profit after tax for financial year ended 31st March 2006 stood at Rs.90.1
millions as against Rs. 74.4 millions in the previous financial year.
Subject was promoted by M Y Noorani and Others, was incorporated as a private limited company in Jun 1984, is into manufacture and export of readymade garments. It became a deemed public limited company in Dec. 1993 and went public in Jan. 1994.
Subject set up a 100% EOU at Umbergaon, Gujarat, to manufacture and export of
Men's clothing including shirts, beach wear and pyjama suits with an annual
licensed capacity of 100,000 units in Dec. 1984. Initially, it concentrated on
the erstwhile Soviet Union by selling to the Central Buying Organisation.
In the late eighties, the company also started exploring the sophisticated
markets of Western Europe. Three companies -- Zodiac Textiles & Apparels
Export, Multiplex Packaging, and Bangalore Knitwear - were amalgamated with
subject. To upgrade production techniques and to meet the exacting quality
standards of west European markets, the company, re-designed and modernised its
entire plant with technical assistance from a leading European company in 1989.
The company went public with its maiden issue in Jun.'94 at a premium of Rs 100
per share to dilute the promoter's holdings to 75%.
It has installed a new production facility in Bangalore with a capacity of 0.5
million shirts per annum. Commercial production of this unit has commenced in
July 1995. Also to boost its export it has invested in a fully-owned subsidiary
in Switzerland in Jun.'95. This has enabled the company to increase its export.
Subject has three subsidiary companies i.e. Mayfair, Multiplex Collapsible
Tubes & Zodiac Clothing Company S.A. During 2002-03 Mayfair the subsidiary
of subject was amalgamated with the company following the approval from High
Court of Mumbai. It has acquired the whole business of Metropolitan Trading
company a manufacturing readymade garment on a going concern basis. The company
entered into a technical agreement with Zodiac UAE LLC Dubai for a period of 5
years.
Website Details :
Overview
Subject is one of the largest shirt companies in the world and sells quality
shirts to the best stores across the globe. Subject has been a quality
manufacturer of fashion garments for the last 50 years and is considered to be
one of the finest quality shirt makers. All shirts are made from the finest
fabrics sourced worldwide so as to give quality, value for money products.
Zodiac shirts offer quality at affordable prices ranging from Rs. 699 to Rs.
2,200. Zodiac has also been awarded the Most Admired Neckwear Brand Award of
the year at the prestigious 'Images Fashion Awards 2000'. Zodiac, is today, the
largest selling shirts & tie brand at Shopper's Stop according to Brand Equity
(The Economic Times)
The company started business in 1954 and export of readymade garments to Europe
started in early '60s, which included mainly ties and shirts. For many decades,
Zodiac has been synonymous with ties. The business of ties is a high fashion
business and Zodiac has taken this to new highs in India and across the globe.
In fact, one can say that in India Zodiac is generically associated with ties.
Following subject's huge success with ties, the company entered the arena of
men's accessories with Cuff links, Belts, Wallets and Handkerchiefs.
In 1973, subject had a stand-alone exclusive shirt shop in Hotel Taj in Mumbai.
The company then entered the domestic shirt segment in late '80s. shirts and
ties being the main areas of focus. In addition to the above products, subject
has today added quality trousers in its arsenal and with their new brand ZOD
have opened up a whole new segment in the country- "Club wear"
Currently, Zodiac has manufacturing facilities in Karnataka, Gujarat, Daman and
in Dubai. The manufacturing capacity of all the facilities put together is
close to 6000000 units per annum. Currently, Zodiac sells to approximately 2000
multi-brand retailers and have over 80 exclusive Zodiac showrooms spread across
the country.
Zodiac: Fountainhead of Design
Capabilities
Over the years, subject has set up overseas offices and today subject has
offices in India, Dubai, Germany, U.K., and USA, which collectively develop the
range, based on the latest global fashion. Of these, 3 design offices are
located at the fashion capitals of the world, namely, London, New York and
Dusseldorf. These design offices are headed and run by locals who possess the
acumen and skills in design knowledge and trends. It is these very design
offices, which have helped the Zodiac bring some of the hottest trends in male
couture first to the country before any of its competitors. This vast
experience affords the brand the ability to predict design trends while working
with the largest retailers internationally and is thus in a position to
forecast fashion trends. These products are simultaneously retailed in India
and in some of the best retail stores overseas.
Today, subject follows in the footsteps of the glorious tradition, which has
been instituted decades ago by the House of Zodiac ZOD! The fastest growing
club wear brand in the country from the house of Zodiac, has surpassed its
contemporaries in a very short time. ZOD! today has become the buzzword in
fashion as a result of its constant endeavour to deliver contemporary and
fashionable collections in the market to the Indian male.
The Zodiac Quality Commitment
Our Chairman, Mr. MY Noorani is passionate about QUALITY has etched the word
quality into all aspects of the company. Today, all these virtues have made
Zodiac competitive globally.
Every input, which goes into making a top quality Zodiac shirt, is unique. From
the mother of pearl buttons, to imported lining, to the best of fabrics make up
a quality Zodiac shirt.
Zodiac believes in delivering the best and does not make any compromise in
terms of quality of fabric, stitching, buttons & lining.
Globally, Zodiac has been present in European, Middle-eastern and US markets
for many years now. Zodiac has exported large quantities to Europe and has been
selling to private labels in Europe for many years now. In majority of cases
the company sells its products under foreign private labels, whereas in some
countries Zodiac sells under our own brand name- Zodiac.
Zodiac shirts are now sold through Bijenkorf in Holland, Splash accross the
Middle East and select retailers in Canada and Germany.
Until not very long ago, Indian brands had no hope of positioning their
products under their own brand name in the sophisticated markets in the West.
Although, India has 2.5 % share of world trade in clothing, almost the entire
export comprises of what is known in the trade, as "private label"
i.e. the brand name on the product is that of the foreign company who sells the
goods, whether it is the likes of Polo Ralph Lauren, Hugo Boss, Harrods, Austin
Reed or Brooks Brothers, to name a few.
Zodiac- Path breaking Brand
offerings
Zodiac
has always believed in offering international fashion via their collections so
as to bring global fashion aspirations to India. For instance, during the
winter of '99 the whole of Europe was buying silver and gray, Zodiac was the
only company selling their quality shirts in silver and gray in India. Zodiac
was the first company to introduce Polynosics in India and also the first to
introduce Changeant, dual toned shirts in the country. Zodiac brands are known
for their unique styling and exquisite quality.
Some of
Zodiac's contemporary brand offerings include:
Shirts
|
1995 |
The American University Plaid
Collection |
|
1997 |
The Limited Collection |
|
1997 |
The Blue & White Collection |
|
1998 |
The British Tan Collection |
|
1998 |
The Private Collection |
|
1999 |
The Vapour Phase Non Iron
Collection |
|
1999 |
The Euro Checks Collection |
|
1999 |
The European Cotton Collection |
|
December 1999 |
The Polynosic Collection |
|
December 1999 |
The Silver Top Dyed Collection |
|
2000 |
The Ivory Collection |
|
July 2000 |
The Changeant (two-toned)
Collection |
|
September 2000 |
The (Wrinkle free) Interview Shirt
Collection |
|
October 2001 |
The American University Plaid
Collection, Revival |
|
January 2002 |
The Structured Collection |
|
June 2002 |
The Mediterranean (Summer)
Collection |
Ties
|
1997 |
The European Collection |
|
1998 |
The Structured Ties Collection |
|
1999 |
The Silk Route Collection |
|
1999 |
The Jacquard Françoise Collection |
|
August 2000 |
The Crème de la Crème Collection |
|
May 2000 |
The Gold Collection |
|
May 2000 |
The Plaid Collection |
|
August 2002 |
The Lombardi Collection |
Trousers
November 2001 The American Chinos Collection 2002 The Zodiac Formal Collection
Accessories
"Belts" - Zodiac's belts are made from Italian leather and are used
on both the sides. The buckle on the belt is also imported and reversible.
"Cufflinks" - These are available in two ranges. The superior range
comprises of gold plating with real pearl tops. These are sourced from best
European manufacturers. The other range is silver-plated.
"Socks"- The only menswear brand to introduce sanitized socks in
India. The "Limited Edition" socks are the latest addition to the
range.
ZOD
After an initial soft launch, ZOD!, the new trendy brand was launched with the
2002 Club wear Collection. The ZOD! 2002 Club wear collection offers a line,
which is not offered by any other brand.
The ZOD 2002 range of shirts comprises an array of the finest in menswear,
namely-
The "Changeant Shirt" a range of two-tone, slim waist Italian cut,
full sleeve shirts, which are offered in evening colours.
The "Furry Denim" Denim with a difference! A techno fabric that
redefines Denim. Already a rage in the fashion capitals of Europe and America.
This fabric has been specially brushed to give it a soft feel.
The "Retro Look" embodies the "comeback" rage with its
"Retro" prints creatively using circles and squares to give the look
and feel of the 70's.
"Satin Stretch" Satin with a difference! Satin and lycra make this
body hugging shirts the ideal way to show the hours spent at the gym when you
step out at night.
"Shimmer" this two toned imported fabric with lustre and shine is
another offering that adds that lustre and shine to get you grooving all night,
revealing the right party animal in you.
"The Ivy Prints" a printed micro-peached fabric, which gives the
shirt a lovely soft touch feel.
"Multi stripes" Colourful stripes which are a rage across Europe
As an extension to its existing product basket, ZOD! has also recently
introduced its latest range of "Boxer Shorts" &
"Belts".
The success of the ZOD! 2002 collection in the Indian market will go a long way
in positioning Zodiac as a Complete wardrobe solutions provider for the Indian
male.
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Award Name |
Description |
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Guinness Book of |
A neck tie made of cloth measuring 221.5 feet long was manufactuared by Zodiac Clothing Co. Ltd. ans Shoppers' Stop of Bombay, India and was publicly displayed on 15th December 1994 |
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TESTEX Zurich |
Certification that Zodiac products meet the human - ecological requirements of the standard presently established. |
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Regional Institute of Environmental Technology |
Certification that Zodiac Clothing Co. Ltd is an INDUSTRY MEMBER of the Regional Institute of Environmental Technology |
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Government of India (Golden Export House) |
Status Certificate in recognition of their long standing contribution to exports in accordance with the provisions of the EXIM Policy 1997 - 2002 |
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SGS International Certification Services |
Social Accountability SA 8000: 1997 |
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Social Accountability SA 8000: 2000 |
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Government of India (Trading House) |
Status Certificate in recognition of their long standing contribution to exports in accordance with the provisions of the Exim Policy 1999 - 2002 |
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Confederation of Indian Apparel Exports |
CIAE Lifetime Achievement Award |
Shirts :
The new Classic formal look is back and subject celebrates this with the launch of its 2-Ply Mercerized Cotton Shirts. These exclusive, structured shirts come in an array of colors for office wear - Olive, Blue, Ecru, Pink and White.
These shirts are also stylized
with a choice of special collars - Italian cutaway or Shark, Florentine
collars, Kent collars and Button downs - with special choice of single &
double cuffs to complete the fine quality look, a man would aspire to have.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.07 |
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UK
Pound |
1 |
Rs.86.17 |
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Euro |
1 |
Rs.57.97 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
YES |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
59 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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