ZODIAC. 30" July, Dividend for the year ended 31% March, 2020.

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1 ZODIAC 30" July, 2020 National Stock Exchange of India Ltd., Exchange Plaza, Sth Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra East Mumbai BSE Limited, Corporate Relationship Department, First Floor, New Trading Ring, Rotunda Building, P.J. Tower, Dalal Street, Mumbai Dear Sirs, Sub: Outcome of the Board Meeting held on 30 July, 2020 Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like to inform you that the Board of Directors of the Company at their meeting held on 30" July, 2020 have interalia considered, approved/taken on record the following: a. The Audited Consolidated and Standalone Financial Results of the Company for the Fourth Quarter and Audited Consolidated and Standalone Financial Results of the Company for year ended 31* March, b. Independent Auditors Report on the Consolidated and Standalone Financial Results of the Company for the year ended 31% March, 2020 with unmodified opinion. c. The Board of Directors of the Company have decided to convene the 36" Annual Genera! Meeting of the Company on Friday, 25" September, d. The Board of Directors of the Company have not recommend any Dividend for the year ended 31% March, in terms of Regulation 33(3)(d) of Listing Regulations {as amended) and in compliance with SEBI Circular CIR/CFD/CMD/56//2016 dated May 27, 2016 attached is the Declaration duly signed by the Vice Chairman & Managing Director of the Company. ZODIAC CLOTHING COMPANY LTD., Nyloc House, 254, D-2, Dr. Annie Besant Road, Worli, Mumbai India. Tel.: Fax : CIN: L17100MH1984PLC Trademark Under Licence From Metropolitan Trading Co.

2 ZODIAC The Board meeting commenced at 4:00 p.m. and concluded at 7.15 p.m. We request you to kindly take the above on record. Thanking you, Kumar lyer Company Encl: As above ZODIAC CLOTHING COMPANY LTD., Nyloc House, 254, D-2, Dr. Annie Besant Road, Worli, Mumbai , India. Tel.: Fax : CIN: L17100MH1984PLC Trademark Under Licence From Metropolitan Trading Co.

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5 ZODIAC CLOTHING COMPANY LIMITED Annexure - 1 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT MARCH 31, 2020 Non-current assets Property, plant and equipment 11,230 11,830 Right-of-use assets 7,135 - Capital work - in-- progress Investment properties Intangible assets Financial assets ~ Investments 2,663 4,295 - Loans 955 1,592 - Others financial assets 1 i Deferred tax assets (net) $i9 249 Non - Current tax assets (net) 1,325 1,349 Other non - current assets Current assets Inventories 8,823 8,724 Financial assets - Investments 165 1,084 ~ Trade receivables 1,751 2,305 - Cash and cash equivalents 1,926 1,178 - Bank Balances other than cash and cash equivalents Loans 2,236 1,158 ~ Other financial assets 601 2,095 Other current assets 2,549 2,372 TOTAL ASSETS 44,032 40,895 " Wl EQUITY AND LIABILITIES Equity Equity share capital 2,248 2,129 Other equity 23,662 28,266 Liabilities Non-current liabilities Financial liabilities ~ Borrowings 1, ~ Lease Liabilities 5,619 Provisions 1 3 Current liabilities Financial liabilities - Borrowings 4,299 6,077 ~ Lease Liabilities 2, Trade payables (a) total outstanding dues of micro enterprises and small enterprises; and (a) total outstanding dues of creditors other than micro enterprises and small enterprises 2,217 2,131 - Other financial liabilities 670 g16 Provisions Other current liabilities 932 1,199 TOTAL EQUITY AND LIABILITIES 44,032 40,895

6 ZODIAC CLOTHING COMPANY LIMITED Annexure - 2 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2020 oeee CASH FLOW FROM OPERATING ACTIVITIES: Loss before exceptional items and tax (3,005) (2,198) Adjustments for: Depreciation and amortization expenses 3,546 1,071 Finance cost 1, Unrealised exchange (gain) / loss on foreign currency translation / transaction (21) (36) 4 Dividend income (57) (19) Rent income (386) (369) Interest income (118) (59) Net gain on financial assets measured at fair value through profit or loss (219) (80) Allowance for doubtful debts, loans and deposits / Expected Credit Loss - (52) Bad and doubtful debts, loans and deposits written off 85 4 Gain on remeasurement of lease contracts (173) - Remeasurements of net defined benefit plans (76) (95)) Net Lass on sale/discard of property, plant and equiprnent {1,318 Operating profit before working capital changes Adjustments for: (Increase)/decrease in trade and other receivables 594 1,201 (increase)/decrease in inventories (99) (799) Increase/(decrease) in trade and other payables (332) {1,540) Increase/(decrease) in provisions 19 (137 1,181 ass Less: Direct taxes paid (net of refunds) (112) (135) Net cash flows generated from / (used in) operating activities after exceptional items 1,069 (2,728)] CASH FLOW FROM INVESTING ACTIVITIES: Sale proceeds of property, plarit and equipment 5 i Interest received Rent Received Sale proceeds of non-current investments Sale proceeds of current investments (Net) Dividend received 5? 19 Proceeds from Sale of Investments in Subsidiary 1, Proceeds from Term Depasits {Net} : 4,259 1,355. Outflows Purchase of property, plant and equipment/ intangible assets/ investment property (455) (568) Purchase of current investments (Net) - (304) Purchase of non-current investments (183) (442) Loans given (315) (123 Investment in Term Deposits (Net) (720 (953) (2,157) Net cash generated from / (used in) investing activities 3,306 (802)} CASH FLOW FROM FINANCING ACTIVITIES: Jinflows Proceeds from issue of equity shares (including securities premium) / share warrants 500 4,500 Proveeds from non-current borrowings 1,672 - Proceeds from current borrowings (net) ,172 4,720 Outflows Repayment of non-current borrowings (211) (632) Repayment of current borrowings (net) (1,778) - Payment of principal portion of lease liabilities (2,213) - Interest paid on lease liabilities (340) - interest paid on others (444) (415) Dividend paid (213) (195 (5,799) (1,242 Net cash generated from / (used in) financing activities (3,627) 3,478 NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS 748 (52) Add ; Cash and cash equivalents at beginning of the year 1,178 1,230 Cash and cash equivalents at end of the year 1,596 7,178 Non-cash financing and investing activities Acquisition of right-of-use assets 859 *

7 Price Waterhouse Chartered Accountants LLP INDEPENDENT AUDITOR S REPORT To the Board of Directors of Zodiac Clothing Company Limited Report on the Audit of Consolidated Financial Results Opinion 1. We have audited the consolidated annual financial results of Zodiac Clothing Company Limited (hereinafter referred to as the Holding Company ) and its subsidiaries (Holding Company and its subsidiaries together referred to as the Group ), (Refer note c to the consolidated annual financial results) for the year ended March 31, 2020 and the consolidated statement of assets and liabilities and the consolidated statement of cash flows as at and for the year ended on that date, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( Listing Regulations ). 2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated financial results: i. include the annual financial results of the subsidiaries Zodiac Clothing Co. (U.A.E) LLC, Zodiac Clothing Co. S.A and Zodiac Clothing Bangladesh Limited. ii. iii. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the Act ) and other accounting principles generally accepted in India, of net loss and other comprehensive income and other financial information of the Group for the year ended March 31, 2020 and the consolidated statement of assets and liabilities and the consolidated statement of cash flows as at and for the year ended on that date. Basis for Opinion 3. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. 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. 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 Act 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 obtained by us and other auditors in terms of their reports referred to in Other Matter paragraph below, is sufficient and appropriate to provide a basis for our opinion. Price Waterhouse Chartered Accountants LLP, Nesco IT Building Ul, 8th Floor, Nesco IT Park, Nesco Complex Gate No. 3 Western Express Highway, Goregaon East, Mumbai T: +91(22) , F: +91 (22) Registered office and Head office: Sucheta Bhawan, 11A Vishnu Digambar Marg, New Delhi Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC- 5001) with effect from July 25, Past its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is N/NS (ICAI registration number before conversion was N)

8 Price Waterhouse Chartered Accountants LLP INDEPENDENT AUDITOR S REPORT To the Board of Directors of Zodiac Clothing Company Limited Report on the Consolidated Financial Results Page 2 of 4 Emphasis of Matter 4. We draw your attention to Note h to the consolidated financial results, which explain the uncertainties and the management s assessment of the financial impact due to restrictions and other conditions related to the Covid-19 pandemic; for which a definitive assessment of the impact in the subsequent period is dependent upon circumstances as they evolve. Our opinion is not modified in respect of this matter. Board of Directors Responsibilities for the Consolidated Financial Results 5. 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 loss and other comprehensive income and other financial information of the Group and the consolidated statement of assets and liabilities and the consolidated statement of cash flows in accordance with the recognition and measurement principles laid down in the 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 statements 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 concer, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends 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 Result 8. Our objectives are to obtain reasonable assurance about whether the consolidated 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 consolidated financial results.

9 Price Waterhouse Chartered Accountants LLP INDEPENDENT AUDITOR S REPORT To the Board of Directors of Zodiac Clothing Company Limited Report on the Consolidated Financial Results Page 3 of 4 9. 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 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)(G) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls. (Refer paragraph 14 below) 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 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 consolidated 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 Group 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 financial results of the entities within the Group 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 independent auditors. For the other entities included in the consolidated financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. 10. We communicate with those charged with governance of the Holding Company 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. 11. 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.

10 Price Waterhouse Chartered Accountants LLP INDEPENDENT AUDITOR S REPORT To the Board of Directors of Zodiac Clothing Company Limited Report on the Consolidated Financial Results Page 4 of 4 Other Matters 12. We did not audit the financial statements of three subsidiaries included in the consolidated financial results, whose financial statements reflect total assets of Rs. 4,566 lakhs and net assets of Rs. 4,385 lakhs as at March 31, 2020, total revenues of Rs. 2,230 lakhs, total comprehensive income (comprising of profit and other comprehensive income) of Rs. 612 lakhs and cash inflows (net) of Rs. 656 lakhs for the year ended March 31, 2020, as considered in the consolidated financial results. These financial statements are audited by other auditors, whose reports have been furnished to us by the Management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 11 above. Our opinion on the consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors. 13. The Financial Results include the results for the quarter ended March 31, 2020, being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, which are neither subject to limited review nor audited by us. 14. The consolidated annual financial results dealt with by this report have been prepared for the express purpose of filing with stock exchanges. These results are based on and should be read with the audited consolidated financial statements of the Group for the year ended March 31, 2020 on which we have issued an unmodified audit opinion vide our report dated July 30, For Price Waterhouse Chartered Accountants LLP Firm Registration Number: N/N t Sachin Parekh Partner Place: Mumbai Membership Number : Date: July 30, 2020 UDIN : F039AAAKCALGOO

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