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Awaiting price reaction for this filing.
Zodiac-JRD-MKJ Limited announced that its 90% subsidiary, VEM Plastic Molding Private Limited (VPMPL), has completed the acquisition of the business of VEM Tooling India Private Limited (VTIPL), a profit-making company based in Pune, Maharashtra. VTIPL manufactures molds, plastic automobile components and other products. This move marks Zodiac's entry into a new vertical of automobile components and mold manufacturing. VPMPL already operates as an OEM manufacturer supplying to blue-chip customers. The acquisition is expected to expand Zodiac's footprint in the high-precision plastic molding and tooling industry within the automobile component sector.
This acquisition opens a new business vertical for Zodiac in automobile components, potentially diversifying revenue beyond its core diamonds and jewellery business. Short-term stock reaction may be positive given the entry into a profit-making, growth-oriented segment, though integration risks and financial details remain to be disclosed.