# Jerash Holdings (NASDAQ: JRSH) Reports Financial Results for Fiscal 2025 Fourth Quarter and Full Year
Jerash Holdings (NASDAQ: JRSH) has released its financial results for the fourth quarter and full year of fiscal 2025, providing insights into its performance and outlook. Here is a summary of the key points from the report:
## Fiscal Fourth Quarter Highlights:
– **Revenue** for the fiscal fourth quarter rose by **35.6%** to $29.3 million, despite some shipments being deferred to the first quarter of fiscal 2026 due to delays at Haifa port.
– **Gross profit** surged by almost **250%** to $5.2 million, with a **gross margin** increase to **17.9%** from 7.0% a year ago, driven by higher production and shipment volumes.
– **Operating expenses** increased to $4.8 million, including a **4.7%** rise in selling, general, and administrative expenses, primarily due to higher sales.
– **Operating income** improved to $434,000, compared to an operating loss of $3.0 million in the same quarter last year.
– **Net loss** for the quarter was reduced to $144,000, or $0.01 per share, from a net loss of $3.1 million, or $0.25 per share, in the same period a year ago.
## Fiscal 2025 Full Year Results:
– Jerash reported a record annual **revenue** of $145.8 million for fiscal 2025, marking a robust **24.4%** increase from the previous year.
– **Gross profit** for the full year reached $22.3 million, up from $16.9 million in fiscal 2024, with a **gross margin** improvement to **15.3%** from 14.4% in the prior fiscal year.
– **Operating income** turned positive at $1.4 million, a significant improvement over the operating loss of $665,000 in fiscal 2024.
– The **net loss** for fiscal 2025 was reduced to $840,000, or $0.07 per share, compared to a net loss of $2.0 million, or $0.16 per share, in the previous fiscal year.
## Other Financial Highlights:
– As of March 31, 2025, Jerash had **cash and restricted cash** totaling $15.1 million, with net working capital at $34.6 million.
– The company approved a regular quarterly **dividend** of $0.05 per share on its common stock, paid on June 6, 2025.
– Looking ahead, Jerash anticipates **revenue** for the fiscal 2026 first quarter to be around $38-$40 million, contingent on outbound shipping port conditions, with a **gross margin** goal of approximately **15-16%**.
## Outlook and Future Plans:
– Despite logistical challenges at Haifa port, Jerash foresees sustained growth and is exploring alternative shipping routes to mitigate disruptions.
– The company’s newly expanded manufacturing facilities and increased production capacity are expected to positively impact performance in the second fiscal quarter of 2026.
– Jerash remains focused on enhancing operations and upholding its growth trajectory as it enters fiscal 2026.
Jerash Holdings’ financial results for the fourth quarter and full year of fiscal 2025 underscore its resilience amidst operational challenges and its commitment to driving growth and operational efficiency. With record revenues and improved profitability, the company aims to navigate uncertainties and capitalize on opportunities in the global apparel market.
*Note: All percentage metrics indicated growth or decrease compared to the same quarter or year ago.*
### Income Statement
Amounts in USD
| Item | 3 Months Ended March 31, 2025 | 3 Months Ended March 31, 2024 | Fiscal Year Ended March 31, 2025 | Fiscal Year Ended March 31, 2024 |
|---|---|---|---|---|
| Revenue, net | $29,251,426 | $21,574,454 | $145,812,006 | $117,187,340 |
| Cost of goods sold | $24,012,525 | $20,073,952 | $123,492,561 | $100,284,991 |
| Gross Profit | $5,238,901 | $1,500,502 | $22,319,445 | $16,902,349 |
| Selling, general and administrative expenses | $4,464,351 | $4,262,721 | $19,114,456 | $16,581,256 |
| Stock-based compensation expenses | $341,035 | $258,350 | $1,758,146 | $986,048 |
| Total Operating Expenses | $4,805,386 | $4,521,071 | $20,872,602 | $17,567,304 |
| Income (loss) from Operations | $433,515 | ($3,020,569) | $1,446,843 | ($664,955) |
| Total other expense, net | ($253,802) | ($133,947) | ($1,295,652) | ($704,476) |
| Net loss | ($144,095) | ($3,138,155) | ($839,929) | ($2,041,926) |
| Net loss attributable to Jerash Holdings (US), Inc.’s Common Stockholders | ($152,635) | ($3,088,758) | ($848,369) | ($2,005,902) |
| Loss Per Share Attributable to Common Stockholders: | ($0.01) | ($0.25) | ($0.07) | ($0.16) |
| Weighted Average Number of Shares | 12,433,363 | 12,294,840 | 12,329,021 | 12,294,840 |
| Dividend per share | $0.05 | $0.05 | $0.20 | $0.20 |
### Balance Sheet
Amounts in USD
| Item | March 31, 2025 | March 31, 2024 |
|---|---|---|
| Current Assets: | ||
| Cash | $13,346,791 | $12,428,369 |
| Accounts receivable, net | $3,076,074 | $5,417,513 |
| Inventories | $27,704,829 | $27,241,573 |
| Prepaid expenses and other current assets | $3,648,321 | $2,746,068 |
| Advances to suppliers, net | $6,644,194 | $3,086,137 |
| Total Current Assets | $54,420,209 | $50,919,660 |
| Restricted cash – non-current | $1,717,248 | $1,608,498 |
| Long-term deposits | $464,934 | $802,306 |
| Deferred tax assets, net | – | $158,329 |
| Property, plant, and equipment, net | $25,023,681 | $24,998,096 |
| Goodwill | $499,282 | $499,282 |
| Operating lease right of use assets | $850,172 | $1,259,395 |
| Total Assets | $82,975,526 | $80,245,566 |
| Current Liabilities: | ||
| Credit facilities | $4,512,462 | – |
| Accounts payable | $6,507,308 | $6,340,237 |
| Accrued expenses | $4,342,436 | $4,175,843 |
| Income tax payable – current | $1,305,386 | $1,647,199 |
| Uncertain tax provision | $175,290 | – |
| Other payables | $2,149,185 | $2,234,870 |
| Deferred revenue | $487,004 | $10,200 |
| Operating lease liabilities – current | $339,699 | $370,802 |
| Total Current Liabilities | $19,818,770 | $14,779,151 |
| Deferred tax liabilities, net | $120 | – |
| Operating lease liabilities – non-current | $287,527 | $618,302 |
| Income tax payable – non-current | – | $417,450 |
| Total Liabilities | $20,106,417 | $15,814,903 |
| Common stock | $12,939 | $12,534 |
| Additional paid-in capital | $25,674,835 | $23,917,094 |
| Treasury stock | ($1,169,046) | ($1,169,046) |
| Statutory reserve | $413,821 | $413,821 |
| Retained earnings | $38,396,901 | $41,704,238 |
| Accumulated other comprehensive loss | ($513,122) | ($492,319) |
| Total Jerash Holdings (US), Inc. Stockholders’ Equity | $62,816,328 | $64,386,322 |
| Noncontrolling interest | $52,781 | $44,341 |
| Total Equity | $62,869,109 | $64,430,663 |
| Total Liabilities and Equity | $82,975,526 | $80,245,566 |
