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Zodiac-JRD-MKJ Ltd's subsidiary, VEM Plastic Molding Private Limited, has secured two purchase orders valued at approximately Rs. 13 crores. The first, worth Rs. 10 crores, is from Sipradi Yatri P. Ltd. (an international entity based in Nepal) for manufacturing plastic panels for the Yatri P-2 scooter. The second, worth Rs. 3 crores, is from Magna Automotive India Pvt Ltd for supplying plastic parts for the Tata Sierra and other Tata SUVs via Tata Motors' OEM supplier, set as a three-year contract generating Rs. 3 crores in annual revenue. Both orders are in the normal course of business, with no related-party involvement.
These orders are expected to have a positive impact on the business operations and financial performance of both the subsidiary and the parent company. The diversification into automotive plastic components via the subsidiary suggests potential revenue growth beyond the parent's core diamond/jewellery business.