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FMFC on Nasdaq

Kandal M Venture Ltd

Kandal M Venture Ltd is a leather and leather products company, listed on Nasdaq (FMFC).1

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Last updated Oct 21, 2026.

Overview

$17.2MRevenue, fiscal 20252
$209.7KNet income, fiscal 20252

Compare with Tandy Leather Factory, Vera Bradley or Capri Holdings, or pick any stock.

  • TickerFMFC on Nasdaq1
  • IndustryLeather & Leather Products1
  • Business addressPadachi Village, Prek Ho Commune, Takhmao Town, Kandal Province3
  • Filer categoryNon-accelerated filer, Emerging growth company3

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November 3, 2016 as a trading company for the Group’s material procurement and customer invoicing.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

19.5%Gross margin2
2.2%Operating margin2
1.2%Net margin2
23.0%Revenue growth, 20252
55.5%Return on equity2
$2.1MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 64% of the revenue Kandal M Venture Ltd broke down this way in fiscal 2026.

  1. United States$10.9M564%down 17% from 2025
  2. Europe$4.6M527%up 115% from 2025
  3. OOTC$956.8K56%up 12% from 2025
  4. Canada$464.5K53%down 24% from 2025
  5. Japan$208.2K51%down 59% from 2025
Regions by year
Regions202420252026
United States$10.2M$13.1M$10.9M
Europe$1.8M$2.1M$4.6M
OOTC$641.3K$850.6K$956.8K
Canada$826.9K$615.0K$464.5K
Japan$417.9K$507.2K$208.2K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue80¢$13.8M
  • Selling, general and admin2¢$304.4K
  • Other costs13¢$2.2M
  • Interest3¢$582.0K
  • Income tax0¢$19.3K
  • Profit1¢$209.7K

Out of $17.2M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$16.7K
  • Kept or used elsewhere99¢$2.1M

Out of $2.1M of cash from operations.2

Financial statements

Revenue2$17.2M in 2025+28% since 2023
0$5.0M$10.0M$15.0M$20.0M2023: $13.5M$13.5M20232024: $14.0M$14.0M2024+4%2025: $17.2M$17.2M2025+23%
Gross profit2$3.4M in 2025+19% since 2023
0$1.0M$2.0M$3.0M$4.0M2023: $2.8M$2.8M20232024: $3.4M$3.4M2024+20%2025: $3.4M$3.4M2025−0%
Operating income2$374.9K in 2025−62% since 2023
0$500.0K$1.0M$1.5M2023: $989.3K$989.3K20232024: $1.5M$1.5M2024+50%2025: $374.9K$374.9K2025−75%
Net income2$209.7K in 2025−72% since 2023
0$500.0K$1.0M$1.5M2023: $744.5K$744.5K20232024: $1.1M$1.1M2024+50%2025: $209.7K$209.7K2025−81%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2026-03-312025-03-312024-03-31
Revenue$17.1M$17.2M$14.0M
Cost of sales-$13.9M-$13.8M-$10.6M
Gross profit$3.2M$3.4M$3.4M
Selling and distribution expenses-$245.2K-$304.4K-$239.0K
General and administrative expenses-$2.7M-$2.7M-$1.6M
Income from operations$322.2K$374.9K$1.5M
Interest expense-$134.9K-$582.0K-$403.7K
Other income, net$243.1K$436.1K$219.3K
Profit before income tax$430.4K$229.0K$1.3M
Income tax expense-$194.8K-$19.3K-$178.1K
Profit for the year$235.6K$209.7K$1.1M
Exchange differences on translating foreign operations-$313
Total comprehensive income attributable to equity owners of the Company$235.6K$209.7K$1.1M
Basic earnings per share (in Dollars per share)$0.01$0.01$0.07
Diluted earnings per share (in Dollars per share)$0.01$0.01$0.07
Weighted average number of ordinary shares used in computing basic earnings (in Shares)17.7M shares16.0M shares16.0M shares
Weighted average number of ordinary shares used in computing diluted earnings (in Shares)17.7M shares16.0M shares16.0M shares

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Corporate structure

Kandal M Venture Ltd sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Kandal M Venture Ltd

  • Kandal M Venture Ltd

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Kandal M Venture Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$512.6K2 Mar 31, 2025$689.5K2 Mar 31, 2024−25.7%
Operating-lease assets (leased space)$138.5K2 Mar 31, 2025$207.7K2 Mar 31, 2024−33.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$102.7K2 Mar 31, 2025$235.3K2 Mar 31, 2024−56.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.6M2 Mar 31, 2025$1.8M2 Mar 31, 2024−8.7%

Filings

76 filings to the SEC since October 2021: 3 annual reports, 8 insider forms, 1 large holders, 64 other. The latest 20:

  1. Oct 15, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  2. Oct 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  3. Sep 28, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  4. Sep 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  5. Sep 4, 20266-K CURRENT REPORT EDGAR
  6. Sep 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  7. Aug 18, 2026EFFECT EDGAR
  8. Aug 18, 2026424B3 PROSPECTUS EDGAR
  9. Aug 13, 2026SCHEDULE 13G EDGAR
  10. Aug 13, 2026F-3/A AMENDMENT NO. 2 TO FORM F-3 EDGAR
  11. Aug 10, 2026F-3/A AMENDMENT NO. 1 TO FORM F-3 EDGAR
  12. Jul 30, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Jul 30, 202620-F ANNUAL REPORT EDGAR
  14. Jul 7, 20266-K CURRENT REPORT EDGAR
  15. Jul 7, 2026F-3 REGISTRATION STATEMENT EDGAR
  16. Jun 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  17. Jun 24, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  18. Jun 16, 20266-K CURRENT REPORT EDGAR
  19. Jun 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  20. Jun 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR

The 76 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Kandal M Venture Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARKandal M Venture Ltd1
  • CIK0002024656
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Industry code (SIC)3100 Leather & Leather Products1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business addressPadachi Village, Prek Ho Commune, Takhmao Town, Kandal Province, Cambodia1
  • Phone855935227861
  • Shares outstanding15,300,000 Class A Ordinary Shares shares; 3,000,000 Class B Ordinary Shares shares as of Mar 31, 20264
  • AuditorWWC, P.C., San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 28, 20241
  • Filings76 in all: 6-K (27), 3 (8), UPLOAD (7), CORRESP (5), F-1/A (5), DRS/A (4), DRSLTR (3), 20-F (2)1
    All 20 form types

    424B3 (2), EFFECT (2), F-3/A (2), 20-F/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), F-1 (1), F-3 (1), FWP (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) Jul 30, 2026

Securities registered for trading

ClassSymbolExchange
Class A Ordinary SharesFMFCNasdaq

From the cover page of the 20-F filed Jul 30, 2026 (Section 12(b) of the Exchange Act).4

Sources

The numbers on this page point here. Each one links to the record it came from.

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