ZODIAC-JRD-MKJ LTD.

Operates through a 90%-owned subsidiary, VEM Plastic Molding Private Limited, which manufactures plastic components for the automotive sector and was classified as a material subsidiary in FY26 after acquiring the business of VIM Tooling (India) through a Business Transfer Agreement. VEM secured purchase orders of approximately Rs. 13 crore: a Rs. 10 crore order from Sipradi Yatri P. Ltd. in Nepal to manufacture plastic panels for the Yatri P-2 scooter, and a Rs. 3 crore three-year contract from Magna Automotive India to supply plastic parts for the Tata Sierra and other Tata SUVs, generating Rs. 3 crore annually. Consolidated FY26 revenue was Rs. 45.2589 crore with net profit of Rs. 3.863 crore; the subsidiary contributed Rs. 2,081.96 lakhs of revenue and Rs. 99.28 lakhs of net profit, while the standalone parent generated Rs. 2,835.33 lakhs of revenue. The FY26 cost mix was 25.6% materials, 11.6% employees, 7.3% other operating expenses, and 3.7% depreciation, with capex at 67.6% of revenue. The statutory auditor issued a qualified opinion on FY26 results citing unverified bank balances of Rs. 40,436, incomplete GST reconciliation, and non-compliance with Ind AS 19 for employee retirement benefits. The parent's underlying standalone product line is not detailed in the filings, though the company is classified under Gems, Jewellery and Watches.