Kandal M Venture Ltd key statistics and ratios

In fiscal 2026, Kandal M Venture Ltd had return on equity of 5.6%, an operating margin of 1.9% and a current ratio of 2.61. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Kandal M Venture Ltd: financial ratios, annual
Fiscal year	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Gross margin	20.9%	24.1%	19.5%	18.9%
Operating margin	7.3%	10.6%	2.2%	1.9%
Net margin	5.5%	8.0%	1.2%	1.4%
Free-cash-flow margin	16.1%	22.3%	12.3%	−11.2%
Return on equity	—	—	76.7%	5.6%
Return on assets	—	11.0%	2.1%	2.2%
Asset turnover	—	1.37	1.70	1.61
Current ratio	—	1.69	0.98	2.61
Debt to equity	—	>999%	>999%	—
Interest cover (operating income ÷ interest)	5.3x	3.7x	0.6x	2.4x
Effective tax rate	13.0%	13.7%	8.4%	45.3%
Capital spending as % of revenue	0.1%	0.2%	0.1%	0.2%
Free cash flow ÷ net income	290.7%	278.3%	>999%	−815.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 3 checks passed · March 31, 2026

What it owns · $11m

Short-term assets $8mLonger-term assets $3m

What it owes, and who funded it · $11m

Short-term liabilities $3mLonger-term liabilities $0mShareholders' equity $8m

Short-term assets cover short-term liabilities $8m of assets due within a year against $3m of liabilities due within a year.
Short-term assets cover long-term liabilities $8m short-term assets against $0 of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $322,220 against $134,894 of interest.

From Kandal M Venture Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: FMFC vs WEYS FMFC vs RCKY FMFC vs WWW

More: Footwear stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Kandal M Venture Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Kandal M Venture Ltd.