What we do Zodiac-JRD-MKJ Ltd manufactures, sells, and trades gold and diamond jewellery, cut and polished diamonds, and precious and semi-precious stones. |
Founded in 1,987 |
Market share Established player with growing capacity in diamond cutting and polishing; transitioning from finance to manufacturing. |
Problem solved Provides high-quality certified diamonds and jewellery meeting market demand for luxury and certified precious stones. |
Top clients or who we serve Serves jewellery retailers, wholesalers, and end consumers in India’s luxury goods market. Mix of B2B and B2C customers. |
Key management Mahesh Ratilal Shah (Managing Director), Dharmesh Pravin Kharwar (Director) |
Our journey and innovations Founded in 1987 as a leasing firm; shifted to diamond cutting in 1992; recent capacity expansion to 45,000 carats per annum. |
Where we operate Primarily operates in India with manufacturing facilities in Mumbai’s Dahisar area. |
Top products or what we offer Cut and polished diamonds, gold and diamond jewellery, precious and semi-precious stones. |
Top brands No distinct brands listed; focus on diamonds and jewellery production capacity as key strengths. |
Raw materials needed Rough diamonds, gold, precious and semi-precious stones, manufacturing equipment. |
Raw materials supplier Suppliers of rough diamonds and precious metals in domestic and international markets. |
Recurring vs cyclical contribution Revenue is cyclical, linked to luxury demand and diamond market trends. |
Our industry position Emerging manufacturer with increased production capabilities; listed on BSE with steady revenue growth. |
Financial highlights Revenue ₹23.34 crore in FY2025, up 81% from ₹12.89 crore; Profit after tax ₹0.43 crore vs loss last year. |
Geographical revenue split Revenue generated primarily from Indian market; no foreign exchange earnings reported. |
Order book - |
Whats driving growth Capacity expansion in diamond cutting, increased demand in luxury jewellery market, strategic acquisitions. |
Our future plans Plans to increase authorized capital, acquisition of plastic molding company, capacity scaling ongoing. |
Our green promise - |
Our people and values Employee focused with emphasis on motivation, efficiency, diversity, and compliance with labor laws. |
Key challenges ahead Market cyclicality, competition, raw material price volatility, and operational scalability. |
Interesting facts Transitioned from leasing and finance to diamond manufacturing; recently became holding company for VEM Plastic Molding Pvt Ltd. |
Risks and strategy Risk from market fluctuations and operational scale; mitigation via diversification and capacity expansion. |
