Zodiac Clothing Company logo

Zodiac Clothing Company MD, chairman, board of directors and AGM

NSE: ZODIACLOTHBSE: 521163Textiles & ApparelsSmall Cap

Last close ₹61.86down ₹0.65 (1.04%)BSE ₹60.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹62.51.

52-week range of traded prices to 23 Oct 2026
₹58.50Low, 30 Mar 2026₹104.00High, 23 Oct 2025
Market cap
₹170 Cr2,381st largest listed
P/E
Lossover the last 12 months
P/B
0.9
Dividend yield
Nonein the last 12 months
ROE
−17.9%
ROCE
−15.8%
Debt to equity
0.27
Volume, NSE
6,24877.7% delivered

Zodiac Clothing Company board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorSALMAN YUSUF NOORANIRelated to the promoter
  • Company Secretary and Compliance OfficerKumar Iyer

10 directors5 independent3 executive2 non-executive

  • VAMAN MADHAV APTEIndependent · joined Aug 2019 · reappointed Aug 2024 · 82 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • SUBRAMANIAM RAMACHANDRAN IYERNon-executive · joined Aug 2014 · reappointed Aug 2024 · 1 listed board · 1 committee seat
  • NAUSHAD DARIUS FORBESIndependent · joined Mar 2018 · reappointed Mar 2023 · 99 months as independent · 6 listed boards · 6 as independent · 5 committee seats
  • DILIP JAYANTILAL THAKKARIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 2 as chair
  • AHMAD JAVEDIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 2 listed boards · 2 as independent · 2 committee seats
  • DJENA SUNAVALAIndependent · joined Sep 2025 · reappointed Sep 2025 · 9 months as independent · 1 listed board · 1 as independent
  • MOHAMED AWAIS JEHANGIR NOORANIExecutive · joined Apr 2024 · 1 listed board · 1 committee seat
  • ADNAN SALMAN NOORANIExecutive · joined Apr 2024 · 1 listed board
  • SALMAN YUSUF NOORANI · Chairperson and managing directorExecutive · joined Mar 2003 · reappointed Mar 2026 · 1 listed board · 1 committee seat
  • MOHAMAD MUSAED ABU NASR NOORANINon-executive · joined Nov 2025 · 1 listed board

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

2 directors who left
  • ELIZABETH JANE HULSE, left 11 Aug 2025: Tenure Completion
  • MOHAMED ANEES NOORANI, left 29 Jul 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 28 May 20269 of 10 present4 independent · 103 days in between
    • 13 Feb 202610 of 10 present5 independent

  • Audit Committee

    Chair DILIP JAYANTILAL THAKKAR

    VAMAN MADHAV APTE, SUBRAMANIAM RAMACHANDRAN IYER

    • 28 May 20263 of 3 present2 independent · 63 days in between
    • 25 Mar 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair NAUSHAD DARIUS FORBES

    VAMAN MADHAV APTE, SUBRAMANIAM RAMACHANDRAN IYER

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair VAMAN MADHAV APTE

    SALMAN YUSUF NOORANI, MOHAMED AWAIS JEHANGIR NOORANI

    No meeting listed in the filing.

  • Risk Management Committee

    Chair VAMAN MADHAV APTE

    SALMAN YUSUF NOORANI, MOHAMED AWAIS JEHANGIR NOORANI

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair VAMAN MADHAV APTE

    SALMAN YUSUF NOORANI, MOHAMED AWAIS JEHANGIR NOORANI

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • MSKA & Associates LLP, Chartered AccountantsPeer-review certificate valid to Jul 2027
1 earlier auditor
  • MSKA & Associates, Chartered AccountantsNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Zodiac Clothing Company AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Zodiac Clothing Company dividend history

Annual general meeting, 30 Sep 2026

10,329 shareholders on the register on 25 Sep 2026; present: 9 promoters and 45 others; votes counted by CS. K. Venkataraman / NA.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2026 and the reports of the Board and the Auditors thereon.MoreLess
    Ordinary
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.84%

    Turnout: all 51.42% · promoters 68.87% · institutions 0.00% · other public 4.41%

  2. To appoint a Director in place of Mr. Subramaniam Ramachandran Iyer (DIN: 00580437), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 0.00% · other public 11.55%

    Turnout: all 51.42% · promoters 68.87% · institutions 0.00% · other public 4.41%

  3. To appoint a Director in place of Mr. Salman Yusuf Noorani (DIN: 00068423), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 0.00% · other public 11.55%

    Turnout: all 51.42% · promoters 68.87% · institutions 0.00% · other public 4.41%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 3 Jan 2026, 4 resolutions

10,814 shareholders on the register on 28 Nov 2025; votes counted by B NARASIMHAN / BN & ASSOCIATES COMPANY SECRETARIES.The company's voting result (opens in a new tab)

  1. RAISING OF FUNDS THROUGH ISSUE OF EQUITY SHARES ON PREFERENTIAL ALLOTMENT BASIS TO THE INDIVIDUAL INVESTORS - PROMOTER & PROMOTERS GROUP FOR CASH.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 48.32% · promoters 66.37% · institutions 0.00% · other public 3.24%

  2. RE-APPOINTMENT OF MR. S. Y. NOORANI (DIN: 00068423) AS THE MANAGING DIRECTOR OF THE COMPANY AND APPROVAL OF THE REMUNERATION PAYABLE TO HIM.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 48.32% · promoters 66.37% · institutions 0.00% · other public 3.24%

  3. APPOINTMENT OF MR. MOHAMED MUSAED ABU NASR NOORANI (DIN: 06955214) AS A NON- EXECUTIVE, NON-INDEPENDENT DIRECTOR OF THE COMPANY.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.38%

    Turnout: all 48.32% · promoters 66.37% · institutions 0.00% · other public 3.24%

  4. ALTERATIONS IN THE ARTICLES OF ASSOCIATION OF THE COMPANY.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 48.32% · promoters 66.37% · institutions 0.00% · other public 3.24%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Sep 2025, 5 resolutions

10,977 shareholders on the register on 22 Sep 2025; present: 9 promoters and 43 others; votes counted by B NARASIMHAN / BN & ASSOCIATES.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2025 and the reports of the Board and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 48.58% · promoters 66.37% · institutions 0.00% · other public 4.15%

  2. To appoint a Director in place of Mr. Mohamed Awais Jehangir Noorani (DIN: 00951424), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 48.58% · promoters 66.37% · institutions 0.00% · other public 4.15%

  3. To appoint a Director in place of Mr. Adnan Salman Noorani (DIN: 08689050), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 48.58% · promoters 66.37% · institutions 0.00% · other public 4.15%

  4. Appointment of M/s Robert Pavrey & Associates LLP, Company Secretaries as the Secretarial Auditors of the company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 48.58% · promoters 66.37% · institutions 0.00% · other public 4.15%

  5. Appointment of Ms. Djena Sunavala (DIN: 03481614) as a Non-Executive Independent Director.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 48.58% · promoters 66.37% · institutions 0.00% · other public 4.15%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 18 Jul 2025, 3 resolutions

10,987 shareholders on the register on 13 Jun 2025; votes counted by B NARASIMHAN / BN & ASSOCIATES COMPANY SECRETARIES.The company's voting result (opens in a new tab)

  1. RAISING OF FUNDS THROUGH ISSUE OF EQUITY SHARES ON PREFERENTIAL ALLOTMENT BASIS TO THE INDIVIDUAL INVESTORS - PROMOTERS FOR CASH
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.17%

    Turnout: all 73.70% · promoters 97.58% · institutions 0.00% · other public 14.07%

  2. REVISION IN THE REMUNERATION PAYABLE TO MR. MOHAMED AWAIS JEHANGIR NOORANI (DIN: 00951424), WHOLE-TIME DIRECTOR OF THE COMPANY.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · other public 0.36%

    Turnout: all 73.70% · promoters 97.58% · other public 14.07%

  3. REVISION IN THE REMUNERATION PAYABLE TO MR. ADNAN SALMAN NOORANI (DIN: 08689050), WHOLE-TIME DIRECTOR OF THE COMPANY.
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.36%

    Turnout: all 73.70% · promoters 97.58% · institutions 0.00% · other public 14.07%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 27 Sep 2024, 7 resolutions

Present: 8 promoters and 34 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statementsn(including audited consolidated financial statements) for thenfinancial year ended 31st March, 2024 and the reports of the Boardnand the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  2. To appoint a Director in place of Mr. A. Y. Noorani (DIN:n00041686), who retires by rotation and being eligible, offers himselfnfor re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  3. To appoint a Director in place of Mr. S. Y. Noorani (DIN:n00068423), who retires by rotation and being eligible, offers himselfnfor re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  4. Appointment of Mr. Dilip Jayantilal Thakkar (DIN: 00007339)nas an Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  5. Appointment of Amb. Ahmad Javed (DIN: 08668304) as annIndependent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  6. Re-appointment of Mr. Vaman Madhav Apte (DIN: 00003651)nas an Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

  7. Appointment of Mr. Subramaniam Ramachandran Iyer (DIN:n00580437) as a Non-Independent Non- Executive Director ofnthe Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 70.15% · promoters 97.63% · institutions 0.00% · other public 1.53%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 17 Jun 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. APPOINTMENT OF MR. MOHAMED AWAIS JEHANGIR NOORANI (DIN: 00951424) AS THE WHOLE-TIME DIRECTOR, DESIGNATED AS EXECUTIVE DIRECTOR (EXPORTS) OF THE COMPANY AND THE REMUNERATION PAYABLE TO HIM.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 70.89% · promoters 97.58% · institutions 0.00% · other public 4.25%

  2. APPOINTMENT OF MR. ADNAN SALMAN NOORANI (DIN: 08689050) AS THE WHOLE-TIME DIRECTOR, DESIGNATED AS EXECUTIVE DIRECTOR – (DIGITAL) OF THE COMPANY AND THE REMUNERATION PAYABLE TO HIM.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 70.89% · promoters 97.58% · institutions 0.00% · other public 4.25%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Sep 2023, 3 resolutions

Present: 12 promoters and 33 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2023 and the reports of the Board and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 55.63% · promoters 76.04% · institutions 0.00% · other public 4.66%

  2. To appoint a Director in place of Mr. S. Y. Noorani (DIN: 00068423), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 55.63% · promoters 76.04% · institutions 0.00% · other public 4.66%

  3. To approve material related party transaction limits with Zodiac Metropolitan Clothing GMBH
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 1.33% · promoters 0.00% · institutions 0.00% · other public 4.66%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 6 Feb 2023, 1 resolution

The company's voting result (opens in a new tab)

  1. ISSUE OF EQUITY SHARES ON PREFERENTIAL BASIS TO PROMOTERS OF THE COMPANYnAND MATTERS RELATED THEREWITH
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.03%

    Turnout: all 68.32% · promoters 96.25% · institutions 0.00% · other public 3.24%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesJan 202615.00––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.