Zodiac Clothing Company Ltd

Zodiac Clothing Company Ltd

Zodiac Clothing Company(ZCL) promoted by M Y Noorani and Others was incorporated as a private limited company in Jun 1984 is into manufacture and export of readymade garments. It became a deemed public limited company in Dec. 1993 and went public in Jan. 1994. ZCL set up a 100% EOU at Umbergaon Gujarat to manufacture and export of Men's clothing including shirts beach wear and pyjama suits with an annual licensed capacity of 100000 units in Dec. 1984. Initially it concentrated on the erstwhile Soviet Union by selling to the Central Buying Organisation. In the late eighties the company also started exploring the sophisticated markets of western Europe. Three companies -- Zodiac Textiles & Apparels Export Multiplex Packaging and Bangalore Knitwear -- were amalgamated with ZCL. To upgrade production techniques and to meet the exacting quality standards of west European markets the company re-designed and modernised its entire plant with technical assistance from a leading European company in 1989. The company went public with its maiden issue in Jun.'94 at a premium of Rs 100 per share to dilute the promoter's holdings to 75%.It has installed a new production facility in Bangalore with a capacity of 5 lac shirts per annum. Commercial production of this unit has commenced in July 1995. Also to boost its export it has invested in a fully-owned subsidiary in Switzerland in Jun.'95 This has enabled the company to increase its export. ZCL have three subsidiary companys i.e. Mayfair Multiplex Collapsible Tubes & Zodiac Clothing Co S.A. During 2002-03 Mayfair the subsidiary of ZCL was amalgamated with the company following the approval from High Court of Mumbai. It has acquired the whole business of Metropolitan Trading company a manufacturing readymade garment on a going concern basis. The company entered into a technical agreement with Zodiac UAE LLC Dubai for a period of 5 years.