Jerash Holdings (US), Inc. Leases Disclosure
NOTE 7 – LEASES
The Company had 37 operating leases for manufacturing facilities, offices, and staff dormitories as of March 31, 2026. Some leases include one or more options to renew, which is typically at the Company’s sole discretion. The Company regularly evaluates the renewal options, and, when it is reasonably certain of exercise, it will include the renewal period in its lease term. New lease modifications result in measurement of the right of use (“ROU”) assets and lease liability. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. ROU assets and related lease obligations are recognized at the commencement date based on the present value of remaining lease payments over the lease term.
All of the Company’s leases are classified as operating leases and primarily include office space, manufacturing facilities and staff dormitories.
Supplemental balance sheet information related to operating leases was as follows:
| As of March 31, 2026 | As of March 31, 2025 | |||||||
| Operating lease right of use assets | $ | 1,038,563 | $ | 850,172 | ||||
| Operating lease liabilities – current | $ | 319,910 | $ | 339,699 | ||||
| Operating lease liabilities – non-current | 539,183 | 287,527 | ||||||
| Total operating lease liabilities | $ | 859,093 | $ | 627,226 | ||||
The weighted average remaining lease terms and discount rates for all of operating leases were as follows:
Remaining lease term and discount rate:
| For the Fiscal Years Ended | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| Weighted average remaining lease term (years) | 3.2 | 1.6 | ||||||
| Weighted average discount rate | 5.60 | % | 6.25 | % | ||||
During the fiscal years ended March 31, 2026 and 2025, the Company incurred total operating lease expenses of $2,269,300 and $2,385,398, respectively.
The following is a schedule, by fiscal years, of maturities of lease liabilities as of March 31, 2026:
| 2027 | $ | 512,989 | ||
| 2028 | 217,839 | |||
| 2029 | 182,517 | |||
| 2030 | 126,979 | |||
| 2031 | 97,360 | |||
| Thereafter | ||||
| Total lease payments | 1,137,684 | |||
| Less: imputed interest | (99,121 | ) | ||
| Less: prepayments | (179,470 | ) | ||
| Present value of lease liabilities | $ | 859,093 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 18, 2026 | Showing above |
| 2025 | Jun 26, 2025 | |
| 2024 | Jun 28, 2024 | |
| 2023 | Jun 28, 2023 | |
| 2022 | Jun 27, 2022 | |
| 2021 | Jun 23, 2021 | |
| 2020 | Jun 29, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.