ZODIACLOTH

Zodiac Clothing Company financials

Mumbai-based, vertically integrated premium menswear maker and retailer of shirts, suits, ties and accessories under the Zodiac, ZOD! and Z3 brands, sold via own COCO stores, multi-brand outlets and a design-driven export business to the US

Market cap: ₹192 Cr
Sector: Textiles

What Zodiac Clothing Company Limited does

Zodiac Clothing designs, manufactures and retails premium men's apparel and accessories — fine-cotton shirts, wool/linen suits and trousers, Jodhpuris, woven silk ties, cufflinks, belts, socks and leather shoes — under three owned brands: Zodiac (classic formal wear), ZOD! (club/casual wear) and Z3 (relaxed casual wear). The company runs three business lines: a Branded Business sold across India and the Middle East through independent retailers and national chains, an Own Retail (COCO — company-owned, company-managed) chain of stores including a web-store, and a Design-Driven International Business that manufactures for leading clothing brands and retailers in the US, EU, UK and Latin America. Manufacturing is carried out at its own factories in Karnataka and Gujarat.

Segments

Branded Business
Own Retail (COCO)
Design-Driven International Business

Manufacturing plants: 6 factories — 3 in Bengaluru (Yelahanka, Koramangala, Bommasandra), Karnataka and 3 at Umbergaon, Valsad, Gujarat (FY25)
Installed capacity: ~7 mn shirts/year across Bengaluru, Valsad and Dubai plants (FY16 investor deck)
Own retail (COCO) stores: 131 stores across malls, high streets, airports and hotels (FY16 investor deck)
Brand distribution reach: Zodiac 1,300+ / ZOD! 1,000+ / Z3 ~850 multi-brand counters nationally (FY16 investor deck)
Owned brands: 3 — Zodiac, ZOD!, Z3
Employees: 1,008 permanent employees (FY25)

Founded 1954Headquarters Worli, Mumbai, MaharashtraEmployees 1,008 (FY25) Company website

Quarterly results

Q1 FY27: revenue down 14.8%, net profit up 4.2% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	43	46	48	39	37 −15%	41 −10%	45 −7%	33 −15%
Expenses	47	50	52	43	43	43	45	37
EBITDA	-4	-4	-4	-4	-7 −76%	-2 +54%	-0 +91%	-3 +17%
Margin	-9%	-9%	-9%	-10%	-18%	-5%	-1%	-10%
Other income	3	2	3	3	3	3	4	2
Interest	2	2	2	2	3	3	2	2
Depreciation	5	5	5	5	6	6	6	6
Profit before tax	-8	-10	-8	-9	-12 −42%	-8 +14%	-5 +45%	-9 −3%
Tax rate	71%	6%	-62%	2%	1%	4%	14%	-5%
Net profit	-14	-10	-3	-9	-12 +16%	-9 +15%	-5 −66%	-9 +4%
EPS	-5.42	-3.91	-1.22	-3.59	-4.55	-3.32	-1.92	-3.25

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −29.0% 1Y

1Y: ₹97.91 on 10 Sept 2025 → ₹69.54. High ₹113.35 (16 Sept 2025), low ₹59.54 (30 Mar 2026).

Financials, as filed

Revenue fell 2.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to -7.9%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹175 Cr	₹146 Cr	₹174 Cr	₹162 Cr
Operating profit	₹-8 Cr	₹-19 Cr	₹-21 Cr	₹-13 Cr
Operating margin	-4.3%	-13.3%	-12.1%	-7.9%
Interest	₹7 Cr	₹7 Cr	₹8 Cr	₹10 Cr
Depreciation	₹17 Cr	₹19 Cr	₹20 Cr	₹24 Cr
Net profit	₹16 Cr	₹-36 Cr	₹-37 Cr	₹-35 Cr
Net margin	8.9%	-25.0%	-21.3%	-21.7%
Cash from operations	₹1 Cr	₹-5 Cr	₹-14 Cr	₹9 Cr
Free cash flow	₹-4 Cr	₹-18 Cr	₹-18 Cr	₹5 Cr
ROCE	-4.0%	-8.0%	-8.0%	-8.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹25 Cr	₹25 Cr	₹26 Cr	₹26 Cr	₹26 Cr	₹27 Cr
Reserves	₹231 Cr	₹222 Cr	₹253 Cr	₹220 Cr	₹159 Cr	₹155 Cr
Borrowings	₹90 Cr	₹73 Cr	₹64 Cr	₹86 Cr	₹114 Cr	₹107 Cr
Other liabilities	₹34 Cr	₹39 Cr	₹33 Cr	₹46 Cr	₹50 Cr	₹53 Cr
Total liabilities	₹380 Cr	₹359 Cr	₹376 Cr	₹378 Cr	₹348 Cr	₹342 Cr
Fixed assets	₹151 Cr	₹125 Cr	₹116 Cr	₹139 Cr	₹158 Cr	₹150 Cr
Capital work in progress	₹1 Cr	₹3 Cr	₹3 Cr	₹6 Cr	₹1 Cr	₹0 Cr
Investments	₹36 Cr	₹51 Cr	₹84 Cr	₹65 Cr	₹36 Cr	₹39 Cr
Other assets	₹191 Cr	₹181 Cr	₹174 Cr	₹168 Cr	₹154 Cr	₹153 Cr
Total assets	₹380 Cr	₹359 Cr	₹376 Cr	₹378 Cr	₹348 Cr	₹342 Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters added +1.53 pp while the public trimmed −1.52 pp. The shareholder count shrank 4% to 10,277.

Promoters: 72.9%
Public: 27.1%

Since Jun 2025

Promoters +1.53 pp
Public −1.52 pp
FIIs 0.00 pp

How it drifted, 12 quarters

Over this window promoters went from 71.4% to 72.9% — +1.5 pp.

Sep '23Dec '24Jun '26

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Zodiac Clothing Company Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Salman Yusuf Noorani	22.04%	unchanged
Late Mohamed Anees Noorani	21.85%	unchanged
Asia Tangible Investments Pte Ltd.	11.49%	unchanged
Euro Global Holdings Pte. Ltd.	11.49%	unchanged
Enam Investments Private Limited	2.42%	unchanged
Adnan Salman Noorani	1.62%	unchanged
Nemish S Shah	1.48%	unchanged
Blue Daimond Properties Pvt Ltd	1.46%	unchanged
Saniyya Noorani	1.41%	unchanged
Zehra Salman Noorani	0.89%	unchanged
Late Mohammed Y Noorani - 2	0.85%	unchanged
Mohamed Musaed Abu Nasr Noorani	0.50%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Zodiac Clothing Company Limited

Guides on how to read this kind of business and the numbers that matter.