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Zodiac Ventures Ltd — Updates, 09-06-2025: Company Update
a
ad
wv
ZODIAC
VENTURES LTD
30" May 2025
REF: 3005251/AR/ZVL
To,
The Corporate Communication Department
Bombay Stock Exchange Ltd.
Dalal Street, Fort, Mumbai — 400001
SUB: Outcome of the Board Meeting held on 30" May 2025
REF: Scrip Code: 503641
Dear Madam/Sir,
This is to inform that a meeting of the Board of Directors of the Company was held
today, 30° May 2025, which commenced at 6:00 P.M. and concluded at 8:15 P.M., and
during which, inter alia, the following business was transacted:
1. The Board has considered and approved the Audited Standalone and
Consolidated Financial Results for the quarter and Financial Year ending on 31°
March 2025 together with the Auditors Reports thereon and the declaration of
unmodified opinion.
Please find enclosed herewith the Audited Financial Results (Standalone and
Consolidated) for the quarter and Financial Year ending on 31% March 2025 along with
the Auditor’s Reports thereon and the declaration of unmodified opinion.
Kindly take the above on record.
Thanking you.
Yours sincerely,
For Zodiac Ventures Limited
RUSTOM —justomazripesoo
AS P | D E BOO Date: 2025.05.30
20:18:14 +05'30"
Rustom Deboo
Company Secretary and Compliance Officer
Encl.: As above
205-C, 45 Juhu Residency, Off Gulmohar Road, Juhu, Vile Parle (West), Mumbai 400 049, India
Tel. +91 22 4223 3333 ¢ info@zodiacventures.in * www.zodiacventures.in * CIN: L45209MH1981PLC023923
Zodiac
Ventures
Limited
CIN:-
L45209MH1981PLC023923
Regd.Office:
205C
,
45
Juhu
Residency,
Off
Gulmohar
Road,
Juhu,
Vileparle
(West),
Mumbai
400049
Tel
No:
022-4223
3333
www.zodiacventures.in
emall
id:
info@zadiacventures.in
Standatone
Audited
Financial
Results
for
the
Quarter
&
Year
Ended
March
31,
2025
(Rs,
In
Lakhs)
Quarter
Ended
Year
Ended
Sr.
No.
Particulars
31-Mar-25
31-Dec-24
31-Mar-24
31-Mar-25
31-Mar-24
Audited
Unaudited
Audited
Audited
Audited
na
{a)
Net
Sales/Income
from
operations
30.00
71.11
.
160.26
59.14
(b)
Other
Income
1.13
2.12
6.02
3.97
24,12
‘Yotal
Income
(a+b)
31.13
72.23
6.02
164.23
83,26
2
Expenditure
(a)
Purchase
of
Stock
in
Trade
57.67,
50.50
-
108.17
-
(b}
Changes
in
Inventories
of
Work-In-Progress
-258.50
-803.21
-346.14
-1,550.21
-598.17
(c}
Employee
Benefit
Expense
14.25
26.37
20.76
83.37
66.71
(d)
Finance
Cost
53.25
82.11
28.91
234.21
63.74
le}
Depreciation
&
Amortization
Expense
1.50
1.53
0.77
5.75.
2.96
[f)
Other
Expenses
133.56
689.23
296.46,
1,169.00
467.72
(g)
Loss
on
Sale
of
Investment
in
Subsidiary
E
*
=
=
=
Total
Expenditure
(atb+cHiverftg)
73
46.53
0.76
50.28,
2.96
3
Profit
befare
Exceptional
items
&
Tax
(1-2)
29.40
25.70
5.26
113.94
80.30
4
Exceptional
Items
=
-
Bi
z
=
5
Profit/(Loss}
before
Tax
(3-4)
79.40
25.70
5.26
115.94
80.30
6
Tax
Expenses
ji)
Income
Tax
7.53
6.42
11.07
28.49
30.00
ii)
Deferred
Tax
-
-
0.12
0.16
-0,16
ili)
Tax
in
respect
of
Earlier
Years
=
=
11.67
-10.83
11.67
Profit/(Loss)
after
Tax
(5-6)
21.87
19.27
-17.36
96.13
38.78
8
Other
Comprehensive
Income
-
-
497.80
-
497.80
9
Total
Comprehensive
Income
21.87
19.27
480.44
96.13
536.58
10
Paid
up
Equity
Share
Capital
(Face
Value
Rs.
i/-)
375.90
375.90
375.90
375.90
375.90
14
Reserves
excludingRevaluation
Reserves
as
per
Balance
Sheet
of
previous
accounting
year
=
=
E:
=
=
12
|
Earnings
Per
Share
(EPS)
Balsc
0.06
0.05
1.28
0.26
1.43
Diluted
0.06
0.05
1,28
0.26
1.43
Notes to Standalone Financial Results
The
audited
standalone
financial
results
for
the
quarter
and
year
ended
March
31,
2025
of
Zodiac
Ventures
Ltd.
(‘the
Company")
have
been
prepared
in
1.
accordance
with
the
Indian
Accounting
Standards
(Ind
AS)
prescribed
under
section
133
of
the
Companies
Act,
2013,
read
with
relevant
Rules
issued
thereunder.
The
above
audited
financial
results
were
reviewed
by
the
Audit
Committee
and
approved
by
the
Board
of
Directors
of
the
Company
at
their
meetings
held
on
May
30,
2025.
The
statutory
auditors
have
expressed
an
unmodified
opinion
on
these
standalone
financial
results.
The
figures
for
the
quarter
ended
Mareli
31,2025
and
March
31,
2024
are
the
balancing
figures
between
the
audited
figures
of
the
full
financial
years
ended
3
March
31,
2025
and
March
31,
2024
respectively
and
the
published
year
to
date
figures
up
to
the
nine
months
ended
December
31,
2024
and
December
31,
2023
respectively.
4
The
Company
is
operating
in
a
single
segment
viz.
Real
Estate
and
Real
Estate
Development.
Hence
the
results
are
reported
on
a
single
segment
basis.
On
24th
February
2022,
the
Company
had
issued
total
of
29,95,000
Warrants
convertible
into
equity
shares
to
12
subscribers
(11
non-promoters
and
1
promoter),
with
the
outer
date
for
conversion
being
23rd
August
2023
(within
18
months,
as
per
SEBI
ICDR
Regulations).
As
per
CDR
Regulations,
at
least
25%
of
the
amount
on
the
warrants
was
received
from
each
of
the
12
allottees
prior
to
the
allotment
of
warrants.
On
23rd:
August
2023,
3,00,000
equity
shares
were
allotted
to
Mr.
Jimit
Shah,
pursuant
to
receipt
of
balance
considerations
against
the
3,00,000
Convertible
Warrants
(out
of
a
total
of
10,00,000
such
Warrants
held
by
him),
The
remaining
26,95,000
Warrants
(including
7,00,000
warrants
pertaining
to
Mr.
Jimit
Shah)
lapsed
and
the
initial
subscription
amount
paid
thereon
forfeited
accordingly,
in
line
with
the
ICDR
Regulations.
The
processes
of
extinguishment
of
the
warrants
that
have
lapsed
as
well
as
the
demat
allotment
of
the
3,00,000
equity
shares
are
currently
pending
with
the
RTA/depositories.
The
listing
approval
from
BSE
is
also
pending
due
to
completion
of
required
formalities.
On
23rd
August
2023,
3,00,000
equity
shares
were
allotted
to
Mr.
Jimit
Shah,
pursuant
to
receipt
of
balance
considerations
against
the
3,00,000
Convertible
Warrants
(out
of
a
total
of
10,00,000
such
Warrants
held
by
him).
‘The
remaining
26,95,000
Warrants
(including
7,00,000
warrants
pertaining
to
Mr.
Jimit
Shah)
lapsed
and
the
initial
subscription
amount
paid
thereon
forfeited
accordingly,
in
line
with
the
ICDR
Regulations
and
has
been
transferred
to
General
Reserves
Account.
6
The
figures
of
the
previous
period
have
been
re-grouped/re-arranged
wherever
considered
necessary.
For Zodiac Ventures Limited
Jimit Shah
Managing Director
Place: Mumbai
Date: 30th May 2025
Statement
of
Assets
and
Liabilities
Standalone
Audited
Statement
of
Assets
and
Liabilities
(Rs. In Lakhs)
5.
No.
Particulars
31.03.2025
31.03.2024
(Audited)
(Audited)
A |ASSETS
1 |Non-Current Assets
(a)
Property,
Plant
and
Equipment
and
Intangible
Assets
(i)Property,
Plant
and
Equipment
13.08
11.11
(ii)
Intangible
Assets
-
-
(b)
Financial
Assets
S
“
(i)
Investments
2,120.34
2,110.37
(ii)
Other
Financial
Assets
87.17
50.95
(iii)
Deferred
tax
assets
(net)
0.08
0.24
(c)
Non-Current
Tax
Assets
(Net)
28.33
2.98
(d)
Other
Non
Current
Assets
800.66
-
Total
Non
Current
Assets
3,049.66
2,175.66
2 |Current Assets
(a)
Inventories
2,388.57
838.37
(b)
Financial
Assets
-
-
(i)Investments
=
-
(ii)Trade
Receivables
37.80
3.00
(iii)Cash
and
Cash
Equivalents
2.15
259.48
(iv)Other
Bank
Balances
4.79
0.70
(v)Others
Financial
assets
419.22
418.97
(c)
Other
Current
Assets
=
-
Total
Current
Assets
2,852.55
1,520.52
Total
Assets
5,902.21
3,696.18
B |EQUITY AND LIABILITIES
1 __|Equity
(a)
Equity
Share
Capital
375.90
375.90
(b)
Other
Equity
1,070.86
1,068.74
(c)
Money
received
against
Share
Warrants
-
-
Total
Equity
1,446.76
1,444.64
LIABILITIES
2
‘|Non-Current
Liabilities
-
-
Total
Non-current
Liabilities
-
-
3 |Current Liabilities
(a) Financial Liabilities
(i)
Borrowings
2,747.32
2,196.33
(ii)
Trade
Payables
=
-
Micro
and
Small
Enterprise
:
:
Other
than
Micro
and
Small
Enterprise
631.50
14.61
(iii)
Other
Financial
Liabilities
985.82
22.99
(b)
Other
Current
Liabilities
62.32
17.61
(c)
Provisions
28.49
-
Total
Current
Liabilities
4,455.44
2,251.54
|
|Total
Equity
&
Liabilities
5,902.21
3,696.18
For Zodiac Ventures Limited
Jimit Shah
Managing Director
Place: Mumbai
Date: 30th May 2025
CASH
FLOW
STATEMENT
Standalone
Audited
Cash
Flow
Statement
(Rs. In Lakhs)
Closing balance of Cash and Cash Equivalents
Particulars
31.03.2025
31.03.2024
(Audited)
(Audited)
Cash
flow
from
Operating
Activities:
Net
Profit/(Loss)
After
Tax
as
per
Statement
of
Profit
and
Loss
113.94
80.30
Add
:
Finance
Costs
234.21
63.74
Add
:
Depreciation
and
Amortisation
Expense
5.75
2.96
Add
:
Loss
on
Sale
of
Shares
=
-
Less
:
Interest
Received
-3.86
-24.07
Operating
Cash
Profit
before
Working
Capital
Changes
350.04
122.93
Adjusted
for:
Increase/(Decrease)
in
Trade
and
Provisions
645.38
13.65
Increase/(Decrease)
in
other
current
liabilities
&
Deferred
Tax
1,007.37
-
(Increase)/Decrease
in
Trade
Receivables
and
Others
-38.89
61.25
Increase/(Decrease)
in
Assets
-61.65
-
{Increase)/Decrease
in
Inventories
-1,550.21
~598.17
Cash
Generated
from
Operations
352.04
-400.33
Direct
Taxes
Paid
-17.66
-29,99
Net
Cash
inflow/(Outflow)
in
the
course
of
Operating
Activities
334.38
-430.32
Cash
flow
from
Investing
Activities:
Purchase
of
Property,
Plant
and
Equipment
7.71
9.81
Interest
Received
3.86
24,07
Add:
Sale
of
Investement(Shares
of
Zodiac
Developer
Pvt.
Ltd)
=
.
Increase/(Decrease)
in
Investments
-800.66
-
Purchase
of
Investments
9.97
-
Net
Cash
Inflow
/
(Outflow)
in
the
course
of
Investing
Activities
-814.48
14,25
Cash
flow
from
Financing
Activities:
Proceeds/(Repayment)
of
Short-Term
Borrowings
(Net)
550.99
684.51
Finance
Costs
-234,21
-63.74
Dividends
paid
(including
Dividend
Distribution
Tax)
-94.01
-
Proceeds
From
Issue
of
Shares
Warrant
-
56.39
Net
Cash
Inflow/(Outflow)
in
the
course
of
Financing
Activities
222.77
677.15
Net
Increase/(Decrease)
in
Cash
and
Cash
Equivalents
(A+B+C)
-257.33
261.08
Opening
balance
of
Cash
and
Cash
equivalents
259.48
-1.60
2.15
259.48
For Zodiac Ventures Limited
Jimit Shah
Managing Director
Place: Mumbai
Date: 30th May 2025
Chartered Accountants
Independent Auditor’s Report on Quarterly and Annual Financial Results of the Company
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations,2015.
INDEPENDENT
AUDITOR'S
REPORT
TO
THE
BOARD
OF
DIRECTORS
OF
ZODIAC
VENTURES
LIMITED
Report on the Audit of the Standalone Financial Results
Opinion
We
have
audited
the
accompanying
quarterly
and
annual
Statement
of
Standalone
Financial
Results
of
‘ZODIAC
VENTURES
LIMITED’.
("the
Company")
for
the
quarter
and
the
year
ended
March
31,
2025,
together
with
the
notes
thereon
("the
Statement"),
attached
herewith,
being
submitted
by
the
Company
pursuant
to
the
requirement
of
Regulation
33
of
the
Securities
and
Exchange
Board
of
India
(SEBI)
(Listing
Obligations
and
Disclosure
Requirements)
Regulations,
2015,
as
amended
("Listing
Regulations"),
duly
initialed
by
us
for
identification.
In
our
opinion
and
to
the
best
of
our
information
and
according
to
the
explanations
given
to
us,
these
financial
results:
i)
are
presented
in
accordance
with
the
requirements
of
Regulation
33
of
the
Listing
Regulations in this regard; and
il) give a true and fair view in conformity with the recognition and measurement principles laid
down in the applicable Indian Accounting Standards (Ind AS), prescribed under Section
133 of the Companies Act, 2013 (the Act), read with relevant rules issued thereunder
and other accounting principles generally accepted in India of the net profit and other
comprehensive income and other financial information for the quarter and year ended
March 31, 2025.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those
Standards are further described in the Auditor's Responsibilities for the Audit of the Financial
Results section of our report.
We are independent of the Company in accordance with the Code of Ethics issued by the Institute
of Chartered Accountants of India together with the ethical requirements that are relevant to our
audit of the financial results under the provisions of the Companies Act, 2013 and the Rules
thereunder and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
403,
4th
Floor
&
702/703,
7th
Floor.
New
Swapnalok
CHS
Ltd.,
Natakwala
Lane,
Borivali
(West),
Mumbai
-
400
092.
Tel
:
2089
0661
Email : info@pravinca.com
Website : www.pravinca.com
Board
of
Director's
Responsibilities
for
the
Standalone
Financial
Results
These
quarterly
and
annual
financial
results
have
been
prepared
on
the
basis
of
the
annual
financial
statements.
The
Company's
Board
of
Directors
are
responsible
for
the
preparation
of
these
financial
results
that
give
a
true
and
fair
view
of
the
net
profit
and
other
comprehensive
income
and
other
financial
information
in
accordance
with
the
recognition
and
measurement
principles
laid
down
in
Indian
Accounting
Standard
34,
"Interim
Financial
Reporting’
prescribed
under
Section
133
of
the
Act
read
with
relevant
rules
issued
thereunder
and
other
accounting
principles
generally
accepted
in
India
and
in
compliance
with
Regulation
33
of
the
Listing
Regulations.
This
responsibility
also
includes
maintenance
of
adequate
accounting
records
in
accordance
with
the
provisions
of
the
Act
for
safeguarding
of
the
assets
of
the
Company
and
for
preventing
and
detecting
frauds
and
other
irregularities;
selection
and
application
of
appropriate
accounting
policies;
making
judgments
and
estimates
that
are
reasonable
and
prudent;
and
design,
implementation
and
maintenance
of
adequate
internal
financial
controls
that
were
operating
effectively
for
ensuring
the
accuracy
and
completeness
of
the
accounting
records,
relevant
to
the
preparation
and
presentation
of
the
financial
results
that
give
a
true
and
fair
view
and
are
free
from
material
misstatement,
whether
due
to
fraud
or
error.
In
preparing
the
standalone
financial
results,
the
Board
of
Directors
are
responsible
for
assessing
the
Company's
ability
to
continue
as
a
going
concern,
disclosing,
as
applicable,
matters
related
to
going
concern
and
using
the
going
concern
basis
of
accounting
unless
the
Board
of
Directors
either
intends
to
liquidate
the
Company
or
to
cease
operations,
or
has
no
realistic
alternative
but
to
do
so.
The Board of Directors are also responsible for overseeing the Company's financial reporting
process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financial results as
a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with SAs will always detect a material
misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these standalone financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
e Identify and assess the risks of material misstatement of the financial results, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we
are also responsible for expressing our opinion on whether the Company eae internal
& ‘gern
ny
effectiveness of such controls.
¢ Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the Board of Directors.
* Conclude on the appropriateness of the Board of Directors! use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Company's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the financial results
or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor's report. However, future events or
conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial results, including the
disclosures, and whether the financial results represent the underlying transactions and events
ina manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.
Other Matter
Attention is drawn to the fact that the figures for the quarters ended March 31, 2025 as reported
in these financial results are the balancing figures between audited figures in respect of the full
financial years ended March 31, 2025 and the published year to date figures up to the end of the third
quarter of the relevant financial years. The figures up to the end of the third quarter have only
been reviewed and not subjected to audit.
For Pravin Chandak & Associates
Chartered Accountants
Firm’s registration number: 116627W
Pravin Chandak
Partner
Membership number: 049391
Place: Mumbai
Date: 30/05/2025
UDIN: 25049391 BMJALI2314
ZODIAC
VENTURES
LIMITED
CIN:
L45209MH1981PLC023923
Regd.Office:
205C
,
45
Juhu
Residency,
off
Gulmohar
Road,
Juhu,
Vileparle
(West),
Mumbai
400049
Tel
No:
022-4223
3333
www.zodiacventures.in
id:
Info@zodiacventures.in
Consolidated Audited Financial Results for the Quarter & Year Ended March 31, 2025
(Rs. In Lakhs)
Quarter Ended Year Ended
Sr.
No.
Particulars
31-Mar-25
31-Dec-24
31-Mar-24
31-Mar-25
31-Mar-24
Audited Unaudited Audited Audited Audited
1___|{a}
Net
Sales/Income
from
operations
30.00
71.11
7.50
160.26
59.14
(b)
Other
Income
1.13
1,12
15.53
3.97
24,12
{c)
Prior
Period
Expenses
Written
Back
(Refer
Note
No.-5)
+
-
=
=
“
Total Income (a+b+c) 31.13 72.23 23.03 164.23 83.26
2 | Expenditure
(a) Purchase of Stock in Trade 57.67 50.50 : 108.17 -
{b} Changes in Inventories of Work-In-Pragress -258.50 -803.21 -790,12 1,550.21 -59B,17
(c)
Employee
Benefit
Expense
(Refer
Note
No.-6)
14.25
26.37
65,87
83.37
66.71
(d)
Finance
Cost
53,25
82.11
336.22
234.21
53.74
(e) Depreciation & Amortization Expense 1.50 1,53 5.74 5.75 2.96
(f} Other Expenses 133,54 689,23 341,08 1,269.00 467,72
Total
Expenditure
fatb+c+d+e+f}
171
46.53
8.79
50.28
2.96
3 __| Profit before Exceptional Items & Tax (1-2) 29.42 25.70 14.24 113.94 80.30
4 __ {Exceptional ltems = = = = :
5 __|Profit/{Loss} before Tax (3-4) 29.42 25.70 14.24 113.94 80.30
6 = |Tax Expenses *
i)
Income
Tax
7.93
6,42
12.45
28.49
30.00
il) Deferred Tax - - 1.14 0.16 -0.16
iti) Provision for Prior Period . - 15.86 = 11.67
iv) Tax in respect of Earlier Years - - - 710.83 E
7 |Profit/(Loss) for the period (5-6) 21.89 19.27 -15.21 96.13 38.78
8 _|Profit/{Loss} from Associate Company 5.16 2.37 = 5.16 12.82
9
Profit/{Loss)
for
the
period
after
Profitiloss)
in
Associate
Company
27,05
21.64
-
101.29
51.60
10 | Other Comprehensive Income . - 497.80 : 497.80
11__|Total Comprehensive Income/[Loss) for the period (7+8) 27.05. 21,64 482.59 101.29 549.40
12__|Profit/{Loss) for the period attributable to: =
) Equity Holders of the parent - - - = +
ii) Non Controlling Interest = = = =
13
|
Total
Comprehensive
Incare/({Loss]
for
the
period
attributable
to:
+
=
-
*
*
i}
Equity
Holders
of
the
parent
-
:
:
=
=
ii) Non Controlling Interest : - = - =
14_|Paid up Equity Share Capital (Face Value Rs. 1/-} 375.90 375.90 375.90 375.90 375.90
15
__|Other
Equity
excluding
Revaluation
Reserves
=
=
-
=
=
16__|Earning Per Share {EPS}
Basic
0.07
0.06
1.28
0.27
1.46
Diluted 0.07 0.06 1.28 0.27 1.46
Notes to Consolidated Financial Results
The
audited
standalone
financial
results
for
the
quarter
and
year
ended
March
31,
2025
of
Zodiac
Ventures
Ltd.
("the
Company")
have
been
prepared
in
accordance
with
the
Indian
Accounting
Standards
(Ind
AS)
prescribed
under
section
133
of
the
Companies
Act,
2013,
read
with
relevant
Rules
issued
thereunder.
The above audited financial results were reviewed by the Audit Committee and approved by theBoard of Directors of the Company at their meetings held on May 30, 2025. The statutory
auditarshave expressed an unmodified opinion on these standalone financial results,
The figures for the quarter ended March 31,2025 and March 31, 2024 are the balancing figures between the audited figures of the full financial years ended March 31, 2025 and March 31,
2024 respectively and the published year to date figures up to the nine months ended December 31, 2024 and December 31, 2023 respectively.
The Consolidated result for the year ended 31st March, 2025 includes the result of the Associates Companies
1, Zodiac Developers Pyt Ltd, 2. Zodiac Capital Pvt Ltd. 3. Mumbai Mega Faed Park Pvt Ltd.
In Zodiac Developers Pvt Ltd, Income Tax Demand of Rs, 2,73,64,800/- for assessment year 2011-12, the matter is pending before the Commissioner Of Income Tax (Appeals). Income Tax
Demand of Rs. 8,21,22,690/- for assessment year 2017-18, the matter is pending before the Commissioner Of Income Tax (Appeals).
The
Zodiac
Developers
Pyt
Ltd
had
advanced
a
sum
of
Rs,
8,75,00,000/-
to
Akshar
Group
in
the
F.Y.
2017-18,
The
Company
was
informed
by
Akshar
Group
that
they
intend
to
forfeit
the
entire
amount
of
Rs.
8,75,00,000/-
citing
breach
of
contract
and
default
in
our
obligations
to
them,
The
dispute
had
arisen
and
there
is
ne
improvement
in
the
situation.
During
the
year
Company
has
decided
to
write
off
the
amount
as
there
is
no
posibility
of
receiving
back
the
said
amount.
During
the
year
2024-25,
an
arbitration
award
was
pronounced,
which
was
not
in
favour
of
the
Company;
hence,
the
said
amount
is
written
off.
There are several litigations involved in the Hanuman Nagar Project of ZDPL. There is a dispute with the Joint Developer in the Project. An arbitration award dated 15th October 2020 had been
received in this matter for the Hanuman Nagar Project. But the company has an order from the SRA which contradicts the arbitration award and definitely has more weightage in relative
terms. An application under Section 34 of the Arbitration and Conciliation Act, 1996 was filed in the Bombay High Court, challenging the said award, and the company is confident of receiving
an
order
in
its
favour;
currently,
there
is
a
stay
in
the
matter
vide
an
order
of
the
Bombay
High
Court
dated
26th
April
2023.
Accordingly,
management
is
of
the
opinion
that
the
amount
incurred on the project stands good and recoverable along with sizable profits. Accordingly, the company visualises sales proceeds, recovery of balance payments on flats sold and also new
sales to occur which will improve the Cash Flow.
Part Occupational Certificate received on 9th March 2023 in ZDPL Hanuman Nagar Project Sale Building, Few flats are unsold due to stay granted by Honorable High Court order dated
26.04.2023, Unsold flats are treated as closing stock, No deemed rent is offered due to Court stay order to sale ar lease.
The ZDPL has given advances for various real estate businesses to several parties and is negotiating with them to close the deals an the projects. These advances have been outstanding for
some time but management feels that the amount advanced are for real estate business and possibilities are being explored. Nevertheless, the amounts stand good and recoverable. The total
of such interest free advances are Rs. 2,23,65,820/-
ire]
10 The figures of the previous period have been re-grouped/re-arranged wherever considered necessary
For Zodiac Ventures Limited
Jimit Shah
Managing Director
Place; Mumbai
Date: 30th May 2025
CASH FLOW STATEMENT
Consolidated Audited Cash Flow Statement
(Rs. In Lakhs)
Particulars 31.03.2025 31.03.2024
(Audited) (Audited)
Cash flow from Operating Activities:
Net
Profit/(Loss)
After
Tax
as
per
Statement
of
Profit
and
Loss
101.29
51.60
Add
:
Finance
Costs
234.21
63.74
Add
:
Depreciation
and
Amortisation
Expense
5.75
2.96
Add
:
Loss
on
Sale
of
Shares
*
-
Less
:
Interest
Received
-3.86
-24.07
Share
of
(Profit)/Loss
on
Investment
Made
in
Associate
Companies
-5.16
-12.82
Operating Cash Profit before Working Capital Changes 332.22 81.42
Adjusted for:
Increase/(Decrease)
in
Trade
and
Provisions
645.38
13.65
Increase/(Decrease)
in
other
current
liabilities
&
Deferred
Tax
1,007.37
-
(Increase)/Decrease
in
Trade
Receivables
and
Others
-38.89
61.25
Increase/(Decrease) in Assets -61.65 -
(Increase)/Decrease in Inventories -1,550.21 -598.17
Cash
Generated
from
Operations
334.22
-441.85
Direct
Taxes
Paid
0.16
11.53
Net Cash Inflow/(Outflow} in the course of Operating Activities 334.38 ~430.32
Cash flow from Investing Activities:
Purchase
of
Property,
Plant
and
Equipment
771
-9.81
Interest
Received
3.86
24.07
Add:
Sale
of
Investement(Shares
of
Zodiac
Developer
Pvt.
Ltd)
=
=
Increase/(Decrease)
in
Investments
-800.66
-
Purchase
of
Investments
-9,97
-
Net
Cash
Inflow
/
(Outflow)
in
the
course
of
Investing
Activities
-814.48
14.25
Cash flow from Financing Activities:
Proceeds/(Repayment) of Short-Term Borrowings (Net) 550.99 684.51
Finance Costs -234.21 -63.74
Dividends
paid
(including
Dividend
Distribution
Tax)
-94.01
:
Proceeds
From
Issue
of
Shares
Warrant
-
56.39
Net
Cash
Inflow/(Outflow)
in
the
course
of
Financing
Activities
222.77
677.15
Net Increase/(Decrease) in Cash and Cash Equivalents (A+8+C) -257.33 261.08
Opening balance of Cash and Cash equivalents 259.48 -1.60
Closing balance of Cash and Cash Equivalents 2.15 259.48
For Zadiac Ventures Limited
Jimit Shah
Managing Director
Place: Mumbai
Date: 30th May 2025
Chartered Accountants
Independent
Auditor's
Report
on
Quarterly
and
Annual
Financial
Results
of
the
Company
Pursuant
to
the
Regulation
33
of
the
SEBI
(Listing
Obligations
and
Disclosure
Requirements)
Regulations,
2015
INDEPENDENT
AUDITOR'S
REPORT
TO
THE
BOARD
OF
DIRECTORS
OF
ZODIAC
VENTURES
LIMITED
Report
on
the
Audit
of
the
Consolidated
Financial
Results
We have audited the accompanying Consolidated annual financial results of *Zodiac
Ventures Limited” (hereinafter referred to as the "the Holding Company") and its associate for the
year ended March 31, 2025 ("Statement"), attached herewith. being submitted by the Holding
Compan) pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of
India ("the SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended ("Listing Regulations"), duly initialed by us for identification.
In our opinion and to the best of our information and according to the explanations given to us, and
based on the consideration of the report of the other auditor on the separate audited financial
results of the associate, the aforesaid consolidated financial results:
i) Include the annual financial results of following associates:
e Mumbai Mega Food Park Pvt. Ltd.
e Zodiac Developers Pvt. Ltd.
e Zodiac Capital Pvt. Ltd.
ii) are presented in accordance with the requirements of Regulation 33 of the Listing
Regulations, in this regard; and
iii) give a true and fair view in conformity with the applicable Accounting Standards ("tnd
AS").
and
other
accounting
principles
generally
accepted
in
India,
of
the
net
profit
and
other
comprehensive
income
and
other
financial
information
of
the
Group
for
the
year
ended March 31, 2025.
Basis for Opinion
We
conducted
our
audit
in
accordance
with
the
Standards
on
Auditing,
(SAs)
specitied
under
section
143(10)
of
the
Companies
Act,
2013
(the
Act),
Our
responsibilities
under
those
Standards
are
further
described
in
the
Auditor's
Responsibilities
for
the
Audit
of
the
Consolidated
Financial
Results
section
of
our
report,
403, 4th Floor & 702/703, 7th Floor
New Swapnalok CHS Lad.,
Natakwala Lane, Borivali (West),
Mumbai - 400 092, Tel: 2089 0661
Email: info@epravincacom
Website : www, pravinca.com
We
are
independent
of
the
Group
in
accordance
with
the
Code
of
Ethics
issued
by
the
Institute
of
Chartered
Accountants
of
India
together
with
the
ethical
requirements
that
are
relevant
to
our
audit
of
the
financial
statements
under
the
provisions
of
the
Companies
Act,
2013
and
the
Rules
thereunder,
and
we
have
fulfilled
our
other
ethical
responsibilities
in
accordarice
with
these
requirements
and
the
Code
of
Ethics.
We
believe
that
the
audit
evidence
obtained
by
us
and
other
auditor
in
terms
of
their
report
referred
to
in
"Other
Matters"
paragraph
below,
is
sufficient
and
appropriate
to
provide
a
basis
for
our
opinion.
Board
of
Direetors'
Responsibilities
for
the
Consolidated
Financial
Results
These
Consolidated
financial
results
have
been
prepared
on
the
basis
of
the
consolidated
annual
financial
statements.
The
Holding
Company's
Board
of
Directors
are
responsible
for
the
preparation
and
presentation
of
these
consolidated
financial
results
that
give
a
true
and
fair
view
of
the
net
profit
and
other
comprehensive
income
and
other
financial
information
of
the
Group
in
accordance
with
the
recognition
and
measurement
principles
laid
down
in
Indian
Accounting
Standards
prescribed
under
Section
133
of
the
Act
read
with
relevant
rules
issued
thereunder
and
other
accounting
principles
generally
accepted
in
India
and
in
compliance
with
Regulation
33
of
the
Listing
Regulations.
The
respective
Board
of
Directors
of
the
companies
included
in
the
Group
are
responsible
for
maintenance
of
adequate
accounting
records
in
accordance
with
the
provisions
of
the
Act
for
safeguarding
of
the
assets
of
the
Group
and
for
preventing
and
detecting
frauds
and
other
irregularities;
selection
and
application
of
appropriate
accounting
policies;
making
Judgments
and
estimates
that
are
reasonable
and
prudent;
and
the
design,
implementation
and
maintenance
of
adequate
internal
financial
controls,
that
were
operating
effectively
for
ensuring
accuracy
and
completeness
of
the
accounting
records,
relevant
to
the
preparation
and
presentation
of
the
consolidated
financial
results
that
give
a
true
and
fair
view
and
are
free
from
material
misstatement,
whether
due
to
fraud
or
error,
which
have
been
used
for
the
purpose
of
preparation
of
the
consolidated
financial
results
by
the
Directors
of
the
Holding
Company,
as
aforesaid.
In
preparing
the
consolidated
financial
results,
the
respective
Board
of
Directors
of
the
companies
included
in
the
Group
are
responsible
for
assessing
the
ability
of
the
Group
to
continue
as
a
going
concern,
disclosing,
as
applicable,
matters
related
to
going
concern
and
using
the
going
concern
basis
of
accounting
unless
the
respective
Board
of
Directors
either
intend
to
liquidate
the
Group
or
to
cease
operations,
or
has
no
realistic
alternative
but
to
do
so.
The
respective
Board
of
Directors
of
the
companies
included
in
the
Group
are
responsible
for
overseeing
the
financial
reporting
process
of
the
Group.
Auditor's
Responsibilities
for
the
Audit
of
the
Consolidated
Financial
Results
Our
objectives
are
to
obtain
reasonable
assurance
about
whether
the
consolidated
financial
results
as
2
whole
are
free
from
material
misstatement,
whether
due
to
fraud
or
error,
and
to
issue
an
auditor's
report
that
includes
our
opinion.
Reasonable
assurance
is
a
high
level
of
assurance,
but
is
not
a
guarantee
that
an
audit
conducted
in
accordance
with
SAs
will
always
detect
a
material
misstatement
when
it
exists.
Misstatements
can
arise
from
fraud
or
error
and
are
considered
material
if,
individually
or
in
the
aggregate,
they
could
reasonably
be
expected
to
influence
the
economic
decisions
of
users
taken
on
the
basis
of
these
consolidated
financial
results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
¢ Identify and assess the risks of material misstatement of the Consolidated Financial Results,
whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting {rom error, as fraud may involve collusion, intentional omissions, misrepresentations,
or the override of internal control.
¢ Obtain an understanding of internal financial controls relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on effectiveness of such controls.
¢ Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the Board of Directors.
« Evaluate the appropriateness and reasonableness of disclosures made by the Board of
Directors in terms of requirements specified under the Listing Regulations.
« Conclude on the appropriateness of the Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the ability of the Group to
continue as a going concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the Statement or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Company to cease to continue as a going concern.
¢
Evaluate
the
overall
presentation,
structure
and
content
of
the
consolidated
financial
results,
including
the
disclosures,
and
whether
the
consolidated
financial
results
represent
the
underlying
transactions
and
events
in
a
manner
that
achieves
fair
presentation.
+
Obtain
sufficient
appropriate
audit
evidence
regarding
the
Consolidated
Financial
Results
of
the
Company
to
express
an
opinion
on
the
consolidated
financial
results.
We
are
responsible
for
the
direction,
supervision
and
performance
of
the
audit
of
financial
information
of
such
entities
included
in
the
consolidated
financial
results
of
which
we
are
the
indepeiident
auditors.
For
the
other
entity
included
in
the
consolidated
financial
results,
which
has
been
audited
by
another
auditor,
such
other
auditor
remains
responsible
for
the
direction,
supervision
and
performance
of
the
audits
carried
out
by
them.
We
remain
solely
responsible
for
our
audit
opinion,
cititie,
inehetek
governance
of
the
Holding
Company
and
such
other
‘
uded
in
the
consolidated
financial
results
of
which
we
are
the
independent
auditors
regarding.
among
other
matters,
the
planned
scope
and
timing
of
the
audit
and
significant
audit
aris
including
any
significant
deficiencies
in
internal
control
that
we
identify
during
our
wih
teu
Ones
those
charged
with
governance
with
a
statement
that
we
have
complied
requirements
regarding
independence,
and
to
communicate
with
them
all
relationships
and
other
matters
that
may
reasonably
be
thought
to
bear
on
our
independence,
and
where
applicable,
related
safeguards.
We
also
performed
procedures
in
accordance
with
the
circular
issued
by
the
SEBI
under
Regulation
33(8)
of
the
Listing
Regulations,
as
amended,
to
the
extent
applicable.
Other Matters
We
draw
attention
to
Note
§
&
7
of
the
Consolidated
Financial
Results
which
describes
the
uncertainties
related
to
the
outcome
of
the
pending
litigation
involving
one
of
the
associate
companies.
This
matter
may
impact
the
share
of
profit/loss
of
associates
accounted
for
in
the
Consolidated
Financial
Results.
Our
conclusion
is
not
modified
in
respect
of
this
matter.
We draw attention to Note 6 & 9 of the Consolidated Financial Results which describes the
uncertainty relating to the recoverability of advances extended by one of the associate companies.
The management of the associate has represented that, based on their assessment, the said
advances are considered good and recoverable.
Our conclusion is not modified in respect of this matter.
The financial results include the results for the quarters ended March 31, 2025 being the balancing
figures between audited figures in respect of the full financial years and the published unaudited year
to date figures up to the end of the third quarter of the relevant financial years which were subject to
a limited review by us.
For Pravin Chandak & Associates,
Chartered Accountants
Firm’s registration number: 116627
Pravin Chandak
Partner
Membership number: 049391
Place: Mumbai
Date:30/05/2025
UDIN:
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ZODIAC
VENTURES LTD
30" May 2025
To,
The Corporate Communication Department
Bombay Stock Exchange Ltd.
Dalal Street, Fort, Mumbai — 400001
SUB: Declaration under Regulation 33 (3) (d) of SEBI (LODR) Regulations, 2015 for
Audit Reports on the Standalone and Consolidated Financial Results
REF: Scrip Code: 503641
Dear Madam/Sir,
Pursuant to Regulations 33 (3) (d) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, this is to inform you that the Statutory Auditors of the
Company have issued an unmodified opinion on the Standalone and Consolidated
Audited Financial Results of the Company for the quarter and Financial Year ending on
31% March 2025.
Kindly take the above on record.
Thanking you.
Yours sincerely,
For Zodiac Ventures Limited
Digitally signed by
RUSTOM RUSTOM ASPI
DEBOO
ASPI DEBOO bate: 2025.95.30
20:21:49 +05'30"
Rustom Deboo
Company Secretary and Compliance Officer
205-C, 45 Juhu Residency, Off Gulmohar Road, Juhu, Vile Parle (West), Mumbai 400 049, India
Tel. +91 22 4223 3333 ¢ info@zodiacventures.in * www.zodiacventures.in * CIN: L45209MH1981PLC023923