Kandal M Venture Limited (FMFC) Balance Sheet
FMFC balance sheet, FY2026
March 31, 2026 · U.S. dollars$11.2M assets = $3.2M liabilities + $8.0M equity
Both columns are drawn to the same scale: what FMFC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FMFC financial health
Descriptive bands, not a rating. Fiscal FY2026.
FMFC balance sheet trends, FY2023–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.9MFY2023 | $11.2MFY2026 | +23.9%/yr | |
| Total liabilities | $6.8MFY2023 | $3.2MFY2026 | −22.7%/yr | |
| Shareholders’ equity | −$950,788FY2023 | $8.0MFY2026 | — | |
| Cash & short-term investments | $361,471FY2023 | $3.6MFY2026 | +114.8%/yr | |
| Total debt | $1.1MFY2023 | $87,632FY2026 | −57.3%/yr | |
| Net cash (debt) | −$761,765FY2023 | $3.5MFY2026 | +$4.3M | |
| Working capital | −$1.2MFY2023 | $5.1MFY2026 | +$6.3M | |
| Book value per share | −$2.11FY2023 | $18.15FY2026 | — | |
| Current ratio | 0.79FY2023 | 2.61FY2026 | +1.82 | |
| Debt / equity | 44.10FY2024 | 0.01FY2026 | −44.09 | |
| Shares outstanding | 450KFY2023 | 443KFY2026 | −0.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FMFC assets
FMFC liabilities and equity
FMFC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FMFC balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $3.6M | $102,697 | $235,348 | $361,471 |
| Cash & equivalents | $3.6M | $102,697 | $235,348 | $361,471 |
| Short-term investments | — | $68,760 | $68,440 | $70,740 |
| Receivables | $2.0M | $6.7M | $6.9M | $915,028 |
| Inventory | $2.5M | $1.6M | $1.8M | $3.4M |
| Other current assets | $122,939 | $908,076 | $316,657 | $85,198 |
| Total current assets | $8.2M | $9.4M | $9.3M | $4.7M |
| Property, plant & equipment (net) | $418,681 | $651,084 | $897,241 | $1.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 |
| Long-term investments | $2.5M | $0 | $0 | $0 |
| Other non-current assets | $48,306 | $29,787 | $13,629 | $0 |
| Total assets | $11.2M | $10.1M | $10.2M | $5.9M |
| Liabilities | ||||
| Accounts payable | $2.0M | $2.6M | $1.7M | $2.1M |
| Short-term debt | $87,632 | $5.2M | $2.9M | $303,049 |
| Deferred revenue | $214,746 | $172,821 | $464,080 | $103,891 |
| Total current liabilities | $3.2M | $9.6M | $5.5M | $6.0M |
| Long-term debt | $0 | $0 | $4.4M | $576,923 |
| Lease obligations | $87,632 | $168,548 | $243,264 | $312,253 |
| Other long-term liabilities | $0 | $87,632 | $168,549 | $274,989 |
| Total liabilities | $3.2M | $9.7M | $10.0M | $6.8M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $183 | $160 | $160 | $160 |
| Retained earnings (deficit) | $3.1M | $2.9M | $2.7M | $1.5M |
| Accumulated other comprehensive income | −$2.5M | −$2.5M | −$2.5M | −$2.5M |
| Total shareholders' equity | $8.0M | $378,104 | $168,431 | −$950,788 |
| Key figures | ||||
| Total debt | $87,632 | $5.3M | $7.4M | $1.1M |
| Net cash (debt) | $3.5M | −$5.2M | −$7.2M | −$761,765 |
| Working capital | $5.1M | −$215,135 | $3.8M | −$1.2M |
| Tangible book value | $8.0M | $378,104 | $168,431 | −$950,788 |
| Book value per share | $18.15 | $0.95 | $0.37 | −$2.11 |
| Shares outstanding | 443K | 400K | 450K | 450K |
| Current ratio | 2.61 | 0.98 | 1.69 | 0.79 |
| Quick ratio | 1.76 | 0.71 | 1.30 | 0.21 |
| Debt / equity | 0.01 | 13.90 | 44.10 | — |
| Equity / assets | 71.8% | 3.8% | 1.7% | −16.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $3.6M | $3.6M | $3.7M | $1.7M | $1.7M | $102,697 | $171,457 | $33,637 | $102,197 | $235,348 | $303,788 |
| Cash & equivalents | $3.6M | $3.6M | $3.6M | $1.7M | $1.7M | $102,697 | $102,697 | $33,637 | $33,637 | $235,348 | $235,348 |
| Short-term investments | — | — | $68,840 | — | $68,840 | — | $68,760 | $68,560 | $68,560 | $68,440 | $68,440 |
| Receivables | $2.0M | $1.8M | $1.8M | $5.8M | $1.3M | $1.2M | $1.2M | $7.9M | $942,917 | $6.9M | $613,082 |
| Inventory | $2.5M | $2.5M | $2.5M | $2.1M | $2.1M | $1.6M | $1.6M | $1.4M | $1.4M | $1.8M | $1.8M |
| Other current assets | $122,939 | $332,008 | $263,168 | $109,505 | $4.5M | $6.4M | $6.4M | $329,510 | $7.2M | $316,657 | $6.5M |
| Total current assets | $8.2M | $8.2M | $8.2M | $9.6M | $9.6M | $9.4M | $9.4M | $9.6M | $9.6M | $9.3M | $9.3M |
| Property, plant & equipment (net) | $418,681 | $418,681 | $418,681 | $533,683 | $533,683 | $651,084 | $651,084 | $781,235 | $781,235 | $897,241 | $897,241 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $2.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.5M | $48,306 | $2.5M | $39,556 | $39,556 | $29,787 | $29,787 | $21,696 | $21,696 | $13,629 | $13,629 |
| Total assets | $11.2M | $11.2M | $11.2M | $10.2M | $10.2M | $10.1M | $10.1M | $10.4M | $10.4M | $10.2M | $10.2M |
| Liabilities | |||||||||||
| Accounts payable | $2.0M | $2.0M | $2.0M | $1.1M | $1.1M | $2.6M | $2.6M | $2.6M | $2.6M | $1.7M | $1.7M |
| Short-term debt | $87,632 | — | $87,632 | $84,207 | $84,207 | — | $5.2M | $5.4M | $5.4M | $2.9M | $2.9M |
| Deferred revenue | $214,746 | — | — | $231,172 | $172,821 | — | — | $609,433 | — | $464,080 | — |
| Total current liabilities | $3.2M | $3.2M | $3.2M | $2.2M | $2.2M | $9.6M | $9.6M | $9.5M | $9.5M | $5.5M | $5.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.4M | $0 |
| Lease obligations | — | $87,632 | — | $128,896 | — | $168,548 | — | $206,651 | — | $243,264 | — |
| Other long-term liabilities | $0 | $0 | $0 | $44,689 | $44,689 | $87,632 | $87,632 | $128,897 | $128,897 | $168,549 | $4.5M |
| Total liabilities | $3.2M | $3.2M | $3.2M | $2.2M | $2.2M | $9.7M | $9.7M | $9.6M | $9.6M | $10.0M | $10.0M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $183 | — | $183 | $183 | $183 | — | $160 | $160 | $160 | $160 | $160 |
| Retained earnings (deficit) | $3.1M | $3.1M | $3.1M | $3.0M | $3.0M | $2.9M | $2.9M | $3.3M | $3.3M | $2.7M | $2.7M |
| Accumulated other comprehensive income | −$2.5M | — | −$2.5M | −$2.5M | −$2.5M | — | −$2.5M | −$2.5M | −$2.5M | −$2.5M | −$2.5M |
| Total shareholders' equity | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $378,104 | $378,104 | $820,559 | $820,559 | $168,431 | $168,431 |
| Key figures | |||||||||||
| Total debt | $87,632 | — | $87,632 | $128,896 | $128,896 | — | $5.3M | $5.6M | $5.6M | $7.4M | $7.4M |
| Net cash (debt) | $3.5M | — | $3.6M | $1.5M | $1.6M | — | −$5.1M | −$5.5M | −$5.5M | −$7.2M | −$7.1M |
| Working capital | $5.1M | $5.1M | $5.1M | $7.5M | $7.5M | −$215,135 | −$215,135 | $146,525 | $146,525 | $3.8M | $3.8M |
| Tangible book value | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $378,104 | $378,104 | $820,559 | $820,559 | $168,431 | $168,431 |
| Book value per share | $17.59 | — | $17.60 | $17.45 | $18.59 | — | — | — | — | — | — |
| Shares outstanding | 458K | — | 457K | 458K | 429K | — | — | — | — | — | — |
| Current ratio | 2.61 | 2.61 | 2.61 | 4.46 | 4.46 | 0.98 | 0.98 | 1.02 | 1.02 | 1.69 | 1.69 |
| Quick ratio | 1.76 | 1.70 | 1.72 | 3.45 | 1.41 | 0.13 | 0.14 | 0.83 | 0.11 | 1.30 | 0.17 |
| Debt / equity | 0.01 | — | 0.01 | 0.02 | 0.02 | — | 13.90 | 6.80 | 6.80 | 44.10 | 44.10 |
| Equity / assets | 71.8% | 71.8% | 71.8% | 78.4% | 78.4% | 3.8% | 3.8% | 7.9% | 7.9% | 1.7% | 1.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 30, 2026); data from EODHD.
FMFC financial position
At the end of fiscal 2026 (March 31, 2026), Kandal M Venture had total assets of $11.2 million (up 11.3% from a year earlier), total liabilities of $3.2 million and shareholders' equity of $8.0 million. It held $3.6 million in cash and short-term investments against $0.1 million of debt, a net cash position of $3.5 million. Its current ratio was 2.61. In the latest quarter (ended June 30, 2026) total assets were $11.2 million and equity $8.0 million.
Related: FMFC income statement, FMFC cash flow statement, FMFC key metrics. See the FMFC stock overview for the latest quote and news.
FMFC balance sheet FAQ
What are Kandal M Venture's total assets?
Kandal M Venture reported total assets of $11.2 million at the end of fiscal 2026 (March 31, 2026), compared with $10.1 million a year earlier.
How much debt does Kandal M Venture have?
Kandal M Venture had $0.1 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Kandal M Venture have?
Kandal M Venture held $3.6 million in cash and short-term investments at the end of fiscal 2026; with $0.1 million of debt that is net cash of $3.5 million.
What is Kandal M Venture's book value?
Kandal M Venture's shareholders' equity (book value) was $8.0 million at the end of fiscal 2026, or $18.15 per share.
What is Kandal M Venture's current ratio?
Kandal M Venture had current assets of $8.2 million and current liabilities of $3.2 million, a current ratio of 2.61 (it can cover its short-term obligations).