June 15, 2026

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Jerash Holdings (US), Inc. (NASDAQ: JRSH) reported fiscal fourth-quarter and full-year 2026 results with strong revenue growth, higher margins, improved operating income, and a return to profitability.
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Jerash Holdings manufactures and exports custom ready-made sportswear and outerwear for global apparel brands.

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Results Showed Strong Fourth-Quarter Growth

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Fourth-quarter revenue increased 46.6% to $42.9 million from $29.3 million in the prior-year quarter.
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Growth was driven by higher export shipments to long-standing key customers, along with orders from newer customers, including Hansoll Group in South Korea.
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Gross profit increased 40.4% to $7.4 million, while gross margin was 17.1%, compared with 17.9% a year earlier.
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Operating income rose more than fivefold to $2.3 million from $434,000. Net income improved to $1.7 million, or $0.12 per diluted share, compared with a net loss of $144,000, or $0.01 per share, last year.
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Operating expenses declined as a percentage of revenue to 11.7% from 16.4%, helped by better control over export logistics costs and lower stock-based compensation.

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Full-Year Revenue Hit a Record

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For fiscal 2026, revenue increased 14.0% to a record $166.3 million from $145.8 million in fiscal 2025.
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Gross profit rose 20.0% to $26.8 million, while gross margin improved to 16.1% from 15.3%.
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Operating income more than quadrupled to $6.3 million from $1.4 million. Net income improved to $3.6 million, or $0.27 per diluted share, compared with a net loss of $840,000, or $0.07 per share, in fiscal 2025.
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Jerash ended the fiscal year with $12.5 million in cash and restricted cash and $36.7 million in net working capital. The company also maintained two undrawn revolving credit facilities totaling up to $20.0 million.

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Outlook

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For the first quarter of fiscal 2027, Jerash expects revenue to increase 20% to 22% from the prior-year quarter’s $39.6 million.
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The company expects gross margin of about 15% to 17%.
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Management said production facilities are fully booked through December 2026. Jerash is also expanding production capacity, with the first phase expected to add about 15% capacity and 700 additional workers by the end of calendar 2026. A second phase planned for mid-2027 could add another 20% to 25% in production capacity.

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The Bigger Picture

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Jerash delivered a strong finish to fiscal 2026.
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Revenue reached a record high, profitability improved sharply, and the company returned to full-year net income. The next stage of the story depends on capacity expansion, customer diversification, and whether strong booking visibility can translate into continued margin improvement.
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