Kandal M Venture (NASDAQ: FMFC) projects higher 2026 revenue and profit
Rhea-AI Filing Summary
Kandal M Venture Limited issued general guidance for the fiscal year ended March 31, 2026, indicating that both revenue and net income are expected to increase versus the prior year. For fiscal 2025, the company reported revenue of about $17.2 million and net income of roughly $210,000, or $0.01 per share.
For the first six months of fiscal 2026 ended September 30, 2025, Kandal generated revenue of about $7.9 million and net income of approximately $169,000, also $0.01 per share. The company highlighted a zero-debt balance sheet and adequate cash, and outlined a strategy to diversify sales toward markets such as the U.K., Japan, Asia, the Middle East and Europe to lessen U.S. tariff pressures and support growth.
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Insights
Kandal guides to higher 2026 results and outlines tariff-mitigation and capacity expansion plans.
Kandal M Venture Limited expects both revenue and net income for fiscal 2026 to exceed fiscal 2025 levels, when it generated about $17.2 million in revenue and $210,000 in net income. Mid-year fiscal 2026 results of $7.9 million revenue and $169,000 net income suggest profit margins have held relatively steady.
Management emphasizes a strong balance sheet with zero debt and adequate cash, which can help support its diversification and expansion initiatives. The company is shifting more sales toward markets such as the U.K., Japan and other parts of Asia, the Middle East and Europe, where tariff impacts are lower under schemes like the Developing Countries Trading Scheme and various Economic Partnership Agreements.
To back this strategy, Kandal recently added manufacturing capacity in the Philippines, aiming to increase output, meet customer-specific requirements, and reduce single-country operational risk. Management notes that these efforts, together with ongoing negotiations with luxury brands in new markets, are described as pointing toward accelerating order flow for the fiscal year ending on March 31, 2027.
Key Figures
Key Terms
forward-looking statements regulatory
Developing Countries Trading Scheme (DCTS) regulatory
Economic Partnership Agreements (EPAs) regulatory
net income financial
tariff rates financial
contract manufacturer financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File Number: 001-42715
KANDAL M VENTURE LIMITED
(Registrant’s Name)
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province, Kingdom of Cambodia
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Kandal M Venture Limited Announces its General Guidance for the Full Fiscal Year Ended March 31, 2026
On April 17, 2026, Kandal M Venture Limited (the “Company”) issued a press release in relation to its general guidance for the full fiscal year ended March 31, 2026 set forth in Exhibit 99.1, which is being furnished herewith.
Exhibit Index
| Exhibit Number |
Description | |
| 99.1 | Press release |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| KANDAL M VENTURE LIMITED | ||
| Date: April 17, 2026 | By: | /s/ Duncan Miao |
| Name: | Duncan Miao | |
| Title: | Chairman of the Board of Directors | |
2
Exhibit 99.1
Kandal M Venture Limited Issues Guidance Projecting
Improved Top and Bottom Line for Full Year Fiscal 2026
Cambodia, April 17, 2026 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced general guidance for the full fiscal year ended March 31, 2026.
Management stated that for fiscal 2026 ended March 31, both revenue and net Income are expected to increase versus the previous fiscal year. For that period, ended March 31, 2025, the Company had revenue of approximately $17.2 million and net income of about $210,000, or $.01 per share.
For the first six months of fiscal 2026 ended September 30, 2025, Kandal generated revenue of approximately $7.9 million and net income of about $169,000, or $.01 per share.
The Company added that its financial position is expected to remain strong through fiscal 2027, as Kandal currently has zero debt and adequate cash on its balance sheet.
While U.S. tariffs have periodically presented a drag on the Company’s top and bottom-line performance over the past three quarters, Director and Chairman Duncan Miao said Kandal is executing “a concrete plan to mitigate these effects and return the Company to its former growth and profitability.”
The crux of this plan, said Mr. Miao, is diversifying Kandal’s customer base to increase its sales mix to markets with lower tariff impact. These markets include such nations as the U.K., Japan and other nations in Asia, the Middle East and Europe.
Negotiations with several luxury brands in these markets, said Kandal’s CEO Fok Yui Kwong, are in “advanced stages” and have the potential to produce “significantly enhanced revenue” for fiscal 2026 and beyond.
Both Cambodia and the Philippines, where Kandal manufactures and exports its goods, benefit from reduced or zero tariff rates when exporting to the UK under the Developing Countries Trading Scheme (DCTS). In addition, both countries receive highly preferential or zero import tariff rates from Japan based on bilateral and regional Economic Partnership Agreements (EPAs).
To support its diversification strategy, Kandal expanded its manufacturing footprint to the Philippines last month. While this move does not reduce the Company’s overall tariff rate, it increases total production capacity, meets production-specific requirements of some of the Company’s customer brands, and minimizes or eliminates the risks associated with relying on a single manufacturing location.
These risks, said Mr. Miao, include potential disruptions from natural or environmental disasters, pandemics, geopolitical tensions, or even routine extended holidays. Manufacturing sites located in multiple nations also enables companies to decrease expenses by leveraging lower labor costs, affordable utilities, and more competitive raw-materials sourcing.
Benefits from these strategies, said the CEO, “are pointing towards accelerating order flow for the fiscal year ending March 31, 2027.”
Regarding the Company’s ongoing sales to the U.S. market, Mr. Miao added that the reduction of U.S. tariff rates on Cambodia - from 36% to 19% in August 2025 - is expected to continue to have a “limited effect” on Kandal’s revenue.
“Overall, we believe this global strategy will drive improved growth and margins for Kandal. We look forward to sharing updates on our progress as we continue executing our initiatives.”
About Kandal M Venture Limited
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.
For more information, please visit the Company’s website at www.kandalmv.com.
Forward-Looking Statements
Certain statements in this announcement are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events and market conditions, and may include statements regarding the Company’s financial condition, results of operations, business strategy, financial needs, expected financial performance, tariff mitigation strategies, and geographic expansion. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Additional information concerning these and other factors that may impact our expectations and projections can be found in the Company’s periodic filings with the SEC, including the Company’s Annual Report on Form 20-F for the fiscal year ended March 31, 2025. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Contacts:
Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email: enquiry@fmfco.com.kh
Telephone: +855 23425205
Investor Relations Contact:
Skyline Corporate Communications
Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: +1 (646) 893-5835 x2
Email: info@skylineccg.com
Website: www.skylineccg.com