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Zodiac-JRD-MKJ Ltd submitted revised unaudited financial results for Q1 FY26 along with auditor's review report. Standalone revenue from operations fell sharply to Rs. 475.07 lakhs from Rs. 2,298.57 lakhs in Q1 FY25, a year-on-year decline of nearly 79%. Despite the steep revenue drop, standalone net profit improved to Rs. 10.79 lakhs (from Rs. 3.86 lakhs) and EPS rose to Rs. 0.10. On a consolidated basis, including subsidiary VEM Plastic Molding Pvt Ltd, revenue was Rs. 1,278.22 lakhs and net profit was Rs. 35.00 lakhs (EPS Rs. 0.31). The company raised Rs. 2,319.38 lakhs via a rights issue on June 13, 2025, earmarked for acquiring VEM Tooling India Pvt Ltd (automotive components) and general corporate purposes, though no amount was utilized in the quarter. The auditor (H.G. Sarvaiya & Co.) issued an unqualified limited review report with no qualifications or emphasis of matter.
Standalone revenue has collapsed to roughly a fifth of last year's level, signalling a sharp slowdown in the core diamond and jewellery trading business. However, profitability has improved and the rights-funded diversification into automotive components could support future growth, though execution risk remains as no funds have been deployed yet.