Kandal M Venture issues FY 2026 growth guidance

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.

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.

Insights

Equity analyst

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

Fiscal 2025 revenue: $17.2 million Fiscal 2025 net income: $210,000 Fiscal 2025 EPS: $0.01 per share +5 more

8 metrics

Fiscal 2025 revenue $17.2 million Revenue for fiscal year ended March 31, 2025

Fiscal 2025 net income $210,000 Net income for fiscal year ended March 31, 2025

Fiscal 2025 EPS $0.01 per share Earnings per share for fiscal year ended March 31, 2025

H1 fiscal 2026 revenue $7.9 million Revenue for six months ended September 30, 2025

H1 fiscal 2026 net income $169,000 Net income for six months ended September 30, 2025

H1 fiscal 2026 EPS $0.01 per share Earnings per share for six months ended September 30, 2025

U.S. tariff rate change 36% to 19% U.S. tariff rate on Cambodia reduced in August 2025

Debt level Zero debt Company states it currently has no debt

Key Terms

forward-looking statements, Developing Countries Trading Scheme (DCTS), Economic Partnership Agreements (EPAs), net income, +2 more

6 terms

forward-looking statements regulatory

"Certain statements in this announcement are “forward-looking statements” within the meaning of Section 21E..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Developing Countries Trading Scheme (DCTS) regulatory

"benefit from reduced or zero tariff rates when exporting to the UK under the Developing Countries Trading Scheme (DCTS)."

Economic Partnership Agreements (EPAs) regulatory

"receive highly preferential or zero import tariff rates from Japan based on bilateral and regional Economic Partnership Agreements (EPAs)."

Economic partnership agreements (EPAs) are formal trade and investment deals between two or more countries or regions that set rules on tariffs, market access, investment protections and sometimes regulatory cooperation. For investors, EPAs matter because they can lower costs, open new markets, and change competitive dynamics—like removing tolls on a highway so goods and capital can move more quickly and cheaply, which can boost sales and profits for affected companies.

net income financial

"the Company had revenue of approximately $17.2 million and net income of about $210,000, or $.01 per share."

Net income is the amount of money a company keeps after paying all its costs, interest, taxes and one-time charges — effectively the company’s profit “left over” at the end of a reporting period. Investors use it like a report card: it shows whether the business is generating real profit, influences earnings per share and dividend potential, and helps determine valuation and long-term financial health.

tariff rates financial

"reduction of U.S. tariff rates on Cambodia - from 36% to 19% in August 2025 - is expected to continue to have a “limited effect”."

Tariff rates are taxes a government charges on goods crossing its borders, most commonly on imports; think of them like tolls added to the price of items when they enter a country. They matter to investors because higher tariffs can raise costs for companies that import materials or sell into taxed markets, squeeze profit margins, alter supply chains and prices for consumers, and thereby affect a company's competitiveness and stock value.

contract manufacturer financial

"Kandal M Venture Limited, a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia..."

A contract manufacturer is a company hired to produce goods or products for another company under a contractual agreement, often using the hiring company's designs and specifications. Investors watch them because they affect costs, product quality and supply reliability—similar to outsourcing baking to a specialized bakery: if the baker is fast and consistent, the brand can grow with lower overhead; if not, sales and profits can suffer.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What fiscal 2026 guidance did Kandal M Venture Limited (FMFC) provide?

Kandal M Venture Limited expects both revenue and net income for fiscal 2026 to increase compared with fiscal 2025. Management bases this outlook on existing performance, diversification into new geographic markets, and ongoing negotiations with luxury brands that could lift sales for 2026 and beyond.

How did Kandal M Venture Limited perform in fiscal 2025 and early fiscal 2026?

For fiscal 2025, Kandal reported approximately $17.2 million in revenue and about $210,000 in net income, or $0.01 per share. In the first six months of fiscal 2026, it generated roughly $7.9 million in revenue and $169,000 in net income, also $0.01 per share.

How is Kandal M Venture Limited addressing U.S. tariff impacts on its business?

Management notes that U.S. tariffs have weighed on results, even after Cambodia’s tariff rate dropped from 36% to 19% in August 2025. The company is executing a plan to diversify its customer base toward markets with lower tariff impact, including the U.K., Japan, Asia, the Middle East, and Europe.

What strategic moves is Kandal M Venture Limited making to support growth?

Kandal is expanding geographically and operationally. It recently added manufacturing capacity in the Philippines, which increases total production, satisfies specific customer requirements, and reduces single-location risk. Management also highlights advanced-stage negotiations with luxury brands in multiple regions that could enhance revenue.

What is Kandal M Venture Limited’s financial position according to the guidance release?

The company states it currently has zero debt and adequate cash on its balance sheet. Management expects this strong financial position to remain through fiscal 2027, supporting its efforts to diversify markets, expand manufacturing, and manage tariff-related pressures while pursuing improved growth and profitability.

Which products and markets does Kandal M Venture Limited focus on?

Kandal is a contract manufacturer of affordable luxury leather goods, mainly handbags such as shoulder bags, crossbody bags, tote bags, backpacks, and satchels, plus smaller items like wallets. It manufactures in Cambodia and the Philippines and is targeting customers in the U.S., U.K., Japan, Asia, the Middle East, and Europe.

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Form 6-K: How Foreign Companies Report to the SEC →

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Accepted by SEC EDGAR 04/17/2026 - 06:15 AM Learn about SEC filing dates

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

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE 12.1 KB