Operator

Greetings. Welcome to the Jerash Holdings Fiscal 2026 Fourth Quarter and Full Year Financial Results. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Roger Pondel, Investor Relations for Jerash Holdings. You may begin.

Roger Pondel
PondelWilkinson Inc.

Thank you, operator. Good morning, everyone, and welcome to Jerash Holdings Fiscal 2026 Fourth Quarter and Full Year Conference Call. I’m Roger Pondel with PondelWilkinson, Jerash Holdings Investor Relations firm. On the call today from the company are Chairman and Chief Executive Officer, Sam Choi; Chief Financial Officer, Gilbert Lee; and Eric Tang, who leads the company’s operations in Jordan.

Before I turn the call over to Sam, I want to remind our listeners that today’s call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous conditions, many of which are beyond the company’s control, including those set forth in the Risk Factors section of the company’s most recent Form 10-K as filed with the Securities and Exchange Commission and copies of which are available on the SEC’s website at www.sec.gov, along with other company filings made with the SEC from time to time. Actual results could differ materially from these forward-looking statements, and Jerash Holdings undertakes no obligation to update any forward-looking statements, except as required by law.

And with

KFC is launching what it calls its “next chapter” globally, rolling out new menu items, redesigned restaurants and refreshed branding as the fast-food giant looks to strengthen its position in the increasingly competitive chicken market.

The Yum Brands-owned chain said Monday that the initiative will eventually touch its more than 34,000 restaurants across over 150 countries. KFC noted that a new restaurant opens somewhere in the world roughly every 3.5 hours.

“As the global appetite for chicken grows, KFC is answering the call,” KFC Global CEO Scott Mezvinsky said in a statement. He added that the company sees an opportunity to “set the standard for modern chicken” in the quick-service restaurant industry.

MAJOR CARL’S JR OPERATOR REPORTEDLY SET TO SHUTTER, SELL DOZENS OF CALIFORNIA LOCATIONS

KFC updated its famous logo and added new items to its menu as part of a new brand strategy. (KFC)

A key component of the strategy centers on menu innovation. KFC plans to expand its lineup of boneless chicken offerings, including tenders designed for dipping and snacking, while introducing more than 20 new sauces tailored to local tastes. Examples include Chimichurri Ranch and Hot Honey Habanero.

The company is also betting on growing consumer demand for customizable, sauce-focused meals, with new menu items featuring chicken tenders, wings and sandwiches coated in bold flavors.

Beyond food, KFC is expanding its beverage platform, known as “KWENCH by KFC,” which includes boba refreshers, milkshakes, sparkling lemonades and iced coffees. The beverage lineup is moving from a pilot program to permanent menus in Australia and Canada this year.

Miami, Florida, Miami International Airport, airport terminal, KFC, Kentucky Fried Chicken fast food restaurant.  (Jeffrey Greenberg/Universal Images Group via Getty Images)

KFC said the changes are intended to give customers more reasons to visit throughout the day, whether for snacks, drinks or full meals.

The company is also introducing a new generation of restaurant designs aimed at creating more modern dining experiences. The first U.S. example is expected to open in McKinney, Texas, later this summer and will feature an open-concept layout. A larger two-story flagship location is scheduled to debut in Dubai this fall.

KFC’s next-generation restaurant concepts are designed to create more modern, dynamic and hospitality-driven experiences for guests around the world. (KFC / Fox News)

The brand refresh extends beyond menus and restaurants. KFC said it is updating its visual identity across packaging, advertising and digital platforms while retaining its signature bucket and Colonel Sanders branding.

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The rollout begins in the United Kingdom and Ireland, with expansion to the United States and Australia expected in the coming weeks. Additional markets will follow through 2026.

On April 29, the board of the company approved raising of up to Rs 10,000 crore through the issuance of equity shares, non-convertible debentures, along with warrants, any other eligible securities convertible into equity shares of the company, or any combination (collectively, securities) on Qualified Institutional Placement.

According to a regulatory filing, the company got shareholders’ approval to raise capital through a qualified institutions placement.
The shareholders also approved the appointment of Jignesh Devchandbhai Rathod as a Whole-Time Director & CEO of the company.
“…the resolutions as proposed in the postal ballot notice dated May 14, 2026, have been passed by the shareholders by remote e-voting process with requisite majority, on Saturday, June 13, 2026 (last date of remote e-voting),” it stated.

The proceedings related to alleged lapses by the company in monitoring and supervising the activities of two authorised persons (APs), Deepankar Barman and Nadella Srinivas Rao.

Sebi had issued separate show-cause notices in May 2025 under adjudication and intermediary regulations, alleging that Angel One failed to adequately identify and act on violations committed by the authorised persons.

According to the order, SEBI alleged that Angel One failed to detect unauthorised fund collection activities, did not conduct proper due diligence during inspections, and failed to take appropriate action despite disproportionate trading patterns by the authorised persons.

The regulator also alleged that the brokerage did not adequately scrutinise unauthorised social media activities by one of the authorised persons, including alleged promises of assured returns, unauthorised portfolio management activities and use of Angel One’s brand name and logo.

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In the case of Nadella Srinivas Rao, SEBI alleged that Angel One failed to conduct inspections despite large fund collections and disproportionate trading activity. The regulator also flagged instances where orders were allegedly placed for multiple clients through the same IP and MAC addresses.
Sebi further alleged that both authorised persons were trading through other stock brokers, which the company failed to identify.Pending the proceedings, Angel One filed settlement applications in 2025 without admitting or denying the findings.

Following discussions with Sebi’s Internal Committee, the company agreed to pay Rs 4.28 crore as settlement charges. The proposal was subsequently approved by Sebi’s High Powered Advisory Committee and a panel of Whole Time Members.

The brokerage remitted the settlement amount on May 22, 2026. As a result, the adjudication and enquiry proceedings have been disposed of under the Sebi Settlement Proceedings Regulations.

Scheme aims to transform ‘dated and underused hotel site’

Proposals to demolish an empty hotel on South Shore seafront and replace it with 15 self-contained flats have been lodged with Blackpool planners.

Planning documents show that 33 percent of the apartments (a total of five) will provide affordable housing, if the scheme gets the go ahead.

The application is for the erection of a four storey building comprising 15 self-contained permanent apartments, following demolition of the former Henderson Hotel at 1 Wimbourne Place, a site close to Blackpool Pleasure Beach Resort.

The Henderson Hotel was one of three adjoining hotels being offered for sale early in 2025 at £1.9m as part of a potential redevelopment project.

The site comprised three buildings – the Waldorf Hotel, the Kimberley Hotel and the Henderson Hotel – which required demolition before development takes place.

However, the current application involves the Henderson Hotel only, with no reference made to the other two properties.

A Design and Access Statement by consultants Future Planning and Development Ltd, has been submitted on behalf of the un-named applicants in supporting a Full Planning Application for the scheme.

The statement says that the initial proposals were to provide student accommodation in a new building with some 40 rooms, but Blackpool Council advised the applicants that the scheme would not be supported.

This was because the site was specifically designated for either permanent residential or holiday accommodation, and furthermore, the site was deemed too far away from the new Multiversity to offer easy access for all students.

The council also indicated that because the existing Henderson Hotel was considered visually attractive, “any replacement must show why reuse is not possible.”

Explaining the new need for a new building, the statement says of the current property: “The narrow circulation spaces, rigid structural layout, thin partitions, and outdated configuration present significant and inherent barriers to successful conversion or modernisation.

“Achieving a modern, building regulations compliant layout within the existing envelope would likely require extensive intervention, making comprehensive refurbishment or reuse highly impractical and economically unviable.”

The statement adds: “The vision for the redevelopment of 1 Wimbourne Place is to transform a dated and under used hotel site into a high quality, attractive and inclusive residential environment that makes a positive contribution to the local area.

“The proposal seeks to deliver much needed homes including affordable housing in a sustainable and accessible location close to the seafront and local services.

“It seeks to enhance the appearance and vitality of the streetscape, creating a building that sits comfortably within its setting and reflects the established character of South Shore.

“The proposal aims to support Blackpool Council’s regeneration objectives, providing new housing on brownfield land and contributing to local economic and social wellbeing.

“Overall, the development aims to create a place that residents can be proud to call home. A modern, efficient and well designed housing scheme that aligns with the town’s wider ambitions for sustainable growth.”