Key Decisions and Approvals

The Board of Directors meeting, held on 06 November 2026 from 04:00 p.m. to 05:20 p.m., considered and approved the following items:

  • The Un-Audited Consolidated and Standalone Financial Results for the quarter and half year ended 30 September 2026.
  • The Independent Auditors Limited Review Report issued by M/s MSKA & Associates LLP on the aforesaid financial results.
  • The Statement of Deviation for the Quarter and Half year ended 30 September 2026, reviewed by the Audit Committee, as required under Regulation 32 and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The results have been made available on the company's website.

Statement of Deviation / Variation in Utilization of Funds

A statement was filed for the quarter ended 30 September 2026 regarding funds raised through a Preferential Issue on 16 January 2026. The total amount raised was ₹149,999,926.02 (Rs. 14,99,99,926.02).

  • Monitoring Agency: Not Applicable
  • Deviation/Variation: None
  • Shareholder Approval Date: Not Applicable (as no deviation)
  • Audit Committee Comments: Confirmed there is no deviation/variation in the utilization of funds against the stated objects.
  • Auditor Comments: NIL

Fund Utilization Breakdown:

| Object | Original Allocation (₹ Cr) | Amount Utilized (₹ Cr) | Deviation/Variation |

| Funding capital expenditure to support growth plans of the Company & General corporate purposes | 11.25 | 9.33 | None |

| General corporate purposes which includes meeting ongoing general corporate exigencies, contingencies and expenses | 3.75 | NIL | None |

Standalone Financial Results (Unaudited)

For the Quarter Ended 30 September 2026 (Q2 FY2027)

  • Revenue from Operations: ₹330.94 Lakhs
  • Other Income: ₹57.06 Lakhs
  • Total Income: ₹388.00 Lakhs (₹539.30 Lakhs - apparent typo in source)
  • Total Expenses: ₹942.59 Lakhs
  • Loss Before Tax: ₹(1,032.83) Lakhs (₹103.28 Cr)
  • Tax Expense/(Benefit): ₹(32.19) Lakhs (Deferred Tax Credit)
  • Loss for the Period: ₹(1,000.62) Lakhs (₹100.06 Cr)
  • Other Comprehensive Income (net of tax): ₹150.77 Lakhs
  • Total Comprehensive Loss: ₹(849.85) Lakhs (₹84.99 Cr)
  • Basic/Diluted Loss Per Share (₹): (3.64)

For the Half Year Ended 30 September 2026 (H1 FY2027)

  • Revenue from Operations: ₹653.18 Lakhs
  • Other Income: ₹117.68 Lakhs
  • Total Income: ₹770.86 Lakhs
  • Total Expenses: ₹1,873.25 Lakhs
  • Loss Before Tax: ₹(1,826.84) Lakhs (₹182.68 Cr)
  • Tax Expense/(Benefit): ₹(77.11) Lakhs (Deferred Tax Credit)
  • Loss for the Period: ₹(1,749.73) Lakhs (₹174.97 Cr)
  • Other Comprehensive Income (net of tax): ₹336.08 Lakhs
  • Total Comprehensive Loss: ₹(1,413.65) Lakhs (₹141.37 Cr)
  • Basic/Diluted Loss Per Share (₹): (6.37)

Key Standalone Balance Sheet Figures as at 30 September 2026

  • Total Assets: ₹29,109.69 Lakhs
  • Total Equity: ₹14,359.00 Lakhs
  • Paid-up Equity Share Capital: ₹274.581 Lakhs (Face Value ₹10/-)
  • Other Equity: ₹11,614.08 Lakhs
  • Total Liabilities: ₹14,749.80 Lakhs

Key Standalone Cash Flow Figures for H1 FY2027

  • Net Cash from Operating Activities: ₹1.57 Lakhs
  • Net Cash from Investing Activities: ₹523.63 Lakhs
  • Net Cash used in Financing Activities: ₹(551.21) Lakhs
  • Net Decrease in Cash: ₹(26.01) Lakhs

Consolidated Financial Results (Unaudited)

For the Quarter Ended 30 September 2026 (Q2 FY2027)

  • Revenue from Operations: ₹3,253.61 Lakhs
  • Other Income: ₹234.05 Lakhs
  • Total Income: ₹3,487.66 Lakhs
  • Total Expenses: ₹4,611.84 Lakhs
  • Loss Before Tax: ₹(1,124.18) Lakhs (₹112.42 Cr)
  • Tax Expense/(Benefit): ₹(32.17) Lakhs
  • Loss for the Period: ₹(1,092.01) Lakhs (₹109.20 Cr)
  • Other Comprehensive Income (net of tax): ₹198.41 Lakhs
  • Total Comprehensive Loss: ₹(893.60) Lakhs (₹89.36 Cr)
  • Basic/Diluted Loss Per Share (₹): (3.98)

For the Half Year Ended 30 September 2026 (H1 FY2027)

  • Revenue from Operations: ₹6,584.22 Lakhs
  • Other Income: ₹463.65 Lakhs
  • Total Income: ₹7,047.87 Lakhs
  • Total Expenses: ₹9,109.41 Lakhs
  • Loss Before Tax: ₹(2,061.56) Lakhs (₹206.16 Cr)
  • Tax Expense/(Benefit): ₹(76.39) Lakhs
  • Loss for the Period: ₹(1,985.17) Lakhs (₹198.52 Cr)
  • Other Comprehensive Income (net of tax): ₹372.11 Lakhs
  • Total Comprehensive Loss: ₹(1,613.06) Lakhs (₹161.31 Cr)
  • Basic/Diluted Loss Per Share (₹): (7.55)

Subsidiary Information (Consolidated)

The consolidated results include the following entities:

1. Zodiac Clothing Co. S.A., Switzerland (Wholly owned subsidiary)

2. Zodiac Clothing Co. (U.A.E.) LLC, UAE (Subsidiary of Zodiac Clothing Co. S.A.)

3. Zodiac Clothing Company Private Limited, UK (Subsidiary of Zodiac Clothing Co. S.A.)

4. Zela Technologies, Inc., USA (Subsidiary of Zodiac Clothing Co. S.A.) Wound up on July 31, 2026.

5. Zodiac Clothing Bangladesh Limited, Bangladesh (Subsidiary of Zodiac Clothing Co. (U.A.E.) LLC)

6. Zodiac Clothing Company INC., USA (Subsidiary of Zodiac Clothing Co. (U.A.E.) LLC)

The auditors, MSKA & Associates, relied on the review reports of other auditors for six subsidiaries. These subsidiaries constituted total assets of ₹2,395.37 Lakhs and contributed to the consolidated loss.