Stock Picking - Art Or Science

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Monday, January 22, 2007

Zodiac Clothing - Stars Will Shine

Zodiac Clothing Net Profit Jumps 83.5%

Zodiac Clothing has come out with third quarter results. The company's net profit was up 83.5% at Rs. 53.40 million from Rs 29.10 million on yoy basis. Net sales were up 25.77% at Rs. 592.50 million from Rs. 471.10 million. Zodiac reported a jump of 94.5% in Gross Profit which stood at Rs. 100 million from Rs. 51.40 million during the same quarter last year.

Zodiac Clothing Co Ltd is principally engaged in the business of garment products consisting of all types of shirts, ties and handkerchiefs. It manages branches in London (United Kingdom) and Dusseldorf (Germany). The Company retails at approximately 1000 multi-brand outlets, and has over 50 Company-owned stores across India. Its wholly owned subsidiaries include Multiplex Collapsible Tubes Ltd., Zodiac Clothing Company S. A. (Switzerland) and Zodiac Garment Factory L. L. C. (United Arab Emirates).

The Company had raised Rs 300 million by way of a preferential issue of shares to a few financial investors during December 2004. The objects of the issue interalia were to part fund the acquisition of a shirt manufacturing facility in the UAE through stepdown subsidiary, to aggressively grow the Company´s own stores over the next 3 years and for the acquisition of a new corporate office through a wholly owned subsidiary. The fund has been fully utilised.

Labels: Zodiac

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