2023 Q1 Form 10-Q Financial Statement

#000121390023010728 Filed on February 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q1
Revenue $23.77M $43.03M $30.94M
YoY Change -23.16% 16.87% 30.24%
Cost Of Revenue $21.32M $37.23M $26.25M
YoY Change -18.79% 24.5% 37.44%
Gross Profit $2.453M $5.797M $4.685M
YoY Change -47.65% -16.12% 0.67%
Gross Profit Margin 10.32% 13.47% 15.14%
Selling, General & Admin $4.283M $4.470M $4.410M
YoY Change -2.88% -2.38% 25.9%
% of Gross Profit 174.62% 77.11% 94.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $676.7K $569.0K $637.5K
YoY Change 6.16% -9.94% 64.07%
% of Gross Profit 27.59% 9.82% 13.61%
Operating Expenses $4.283M $4.470M $4.410M
YoY Change -2.88% -2.38% 25.9%
Operating Profit -$1.830M $1.327M $274.9K
YoY Change -765.8% -43.11% -76.11%
Interest Expense -$267.8K $248.9K
YoY Change 239.67%
% of Operating Profit 18.76%
Other Income/Expense, Net $181.5K -$111.5K $440.00
YoY Change 41154.55% 1529.56% -102.44%
Pretax Income -$1.917M $1.215M $275.4K
YoY Change -796.07% -47.73% -75.7%
Income Tax $67.70K $324.4K $405.2K
% Of Pretax Income 26.69% 147.17%
Net Earnings -$1.984M $890.8K -$131.3K
YoY Change 1411.18% -46.81% -119.27%
Net Earnings / Revenue -8.35% 2.07% -0.42%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share -$0.15 $0.07 -$10.65K
COMMON SHARES
Basic Shares Outstanding 12.38M shares 12.43M shares
Diluted Shares Outstanding 12.41M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.80M $24.63M $25.68M
YoY Change -30.67% -26.71% 21.54%
Cash & Equivalents $17.80M $24.63M $25.18M
Short-Term Investments $0.00 $0.00 $500.0K
Other Short-Term Assets $4.481M $9.174M $4.518M
YoY Change -0.83% 80.83% -25.7%
Inventory $32.66M $26.66M $28.26M
Prepaid Expenses
Receivables $2.241M $5.546M $11.05M
Other Receivables $104.3K $18.91K $374.4K
Total Short-Term Assets $57.28M $66.03M $69.87M
YoY Change -18.02% -3.43% 8.07%
LONG-TERM ASSETS
Property, Plant & Equipment $22.36M $21.23M $10.93M
YoY Change 104.48% 98.53% 49.85%
Goodwill $499.3K $499.3K $499.3K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.605M $2.212M $2.180M
YoY Change 19.54% -26.15% 67.9%
Total Long-Term Assets $26.44M $25.10M $15.44M
YoY Change 71.23% 76.95% 79.63%
TOTAL ASSETS
Total Short-Term Assets $57.28M $66.03M $69.87M
Total Long-Term Assets $26.44M $25.10M $15.44M
Total Assets $83.72M $91.13M $85.31M
YoY Change -1.87% 10.39% 16.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.783M $5.948M $4.840M
YoY Change 19.47% 105.54% -38.91%
Accrued Expenses $2.931M $2.850M $3.116M
YoY Change -5.95% -27.48% 14.06%
Deferred Revenue $928.4K
YoY Change
Short-Term Debt $0.00 $4.406M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.45M $18.93M $14.14M
YoY Change 2.2% 77.33% -4.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.039M $1.133M $1.871M
YoY Change -44.49% -39.21% -7.81%
Total Long-Term Liabilities $1.039M $1.133M $1.871M
YoY Change -44.49% -39.21% -7.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.45M $18.93M $14.14M
Total Long-Term Liabilities $1.039M $1.133M $1.871M
Total Liabilities $15.49M $20.06M $16.01M
YoY Change -3.26% 56.26% -5.05%
SHAREHOLDERS EQUITY
Retained Earnings $46.17M
YoY Change
Common Stock $12.53K $12.53K $12.33K
YoY Change 1.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.169M $771.9K
YoY Change
Treasury Stock Shares 156.6K shares
Shareholders Equity $68.23M $71.07M $69.30M
YoY Change
Total Liabilities & Shareholders Equity $83.72M $91.13M $85.31M
YoY Change -1.87% 10.39% 16.47%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.984M $890.8K -$131.3K
YoY Change 1411.18% -46.81% -119.27%
Depreciation, Depletion And Amortization $676.7K $569.0K $637.5K
YoY Change 6.16% -9.94% 64.07%
Cash From Operating Activities $948.7K $220.6K -$5.610M
YoY Change -116.91% -94.93% 7.71%
INVESTING ACTIVITIES
Capital Expenditures -$7.165M $208.0K -$638.0K
YoY Change 1023.02% -129.26% 87.39%
Acquisitions
YoY Change
Other Investing Activities -$9.568M -$713.5K -$973.1K
YoY Change 883.18% -44.11% 2779.08%
Cash From Investing Activities -$2.403M -$921.5K -$1.611M
YoY Change 49.14% -53.64% 330.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.422M 2.454M -618.5K
YoY Change 776.73% -56.59% -19.08%
NET CHANGE
Cash From Operating Activities 948.7K 220.6K -5.610M
Cash From Investing Activities -2.403M -921.5K -1.611M
Cash From Financing Activities -5.422M 2.454M -618.5K
Net Change In Cash -6.876M 1.753M -7.840M
YoY Change -12.29% -78.13% 23.52%
FREE CASH FLOW
Cash From Operating Activities $948.7K $220.6K -$5.610M
Capital Expenditures -$7.165M $208.0K -$638.0K
Free Cash Flow $8.114M $12.62K -$4.972M
YoY Change -263.17% -99.75% 2.14%

Facts In Submission

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634914 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
730000 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
6270000 usd
us-gaap Net Income Loss
NetIncomeLoss
8050910 usd
us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
1750081 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
121915 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
69718987 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
69304258 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
294822 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
771894 usd
us-gaap Net Income Loss
NetIncomeLoss
4403952 usd
us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
1865241 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-296066 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
71069831 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
62029615 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
319101 usd
CY2021Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
730000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
6270000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
1674797 usd
CY2021Q4 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
616716 usd
CY2021Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
42190 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
69718987 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
70987199 usd
CY2022Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
224181 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
890818 usd
CY2022Q4 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
621809 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
37804 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
71069831 usd
us-gaap Net Income Loss
NetIncomeLoss
4403952 usd
us-gaap Net Income Loss
NetIncomeLoss
8050910 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1753941 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1511963 usd
us-gaap Share Based Compensation
ShareBasedCompensation
294822 usd
us-gaap Share Based Compensation
ShareBasedCompensation
634914 usd
jrsh Bad Debt Expense
BadDebtExpense
221584 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
784699 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
569078 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5503123 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3739937 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1591135 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3553625 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-69401 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
936695 usd
us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
4725296 usd
us-gaap Increase Decrease In Prepaid Supplies
IncreaseDecreaseInPrepaidSupplies
-1229345 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1108112 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5028787 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-266092 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
944627 usd
jrsh Increase Decrease In Other Payables
IncreaseDecreaseInOtherPayables
-883219 usd
jrsh Increase Decrease In Other Payables
IncreaseDecreaseInOtherPayables
-208649 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
296985 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
444165 usd
jrsh Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-661274 usd
jrsh Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-612953 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
588098 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
460805 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9858387 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14573869 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7887613 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2317327 usd
jrsh Payments For Construction Of Properties
PaymentsForConstructionOfProperties
3414172 usd
jrsh Acquisition Of Mk Garments
AcquisitionOfMKGarments
2700000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
500000 usd
jrsh Payments To Acquire Long Term Deposits
PaymentsToAcquireLongTermDeposits
70549 usd
jrsh Payments To Acquire Long Term Deposits
PaymentsToAcquireLongTermDeposits
1544792 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11372334 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7062119 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1865241 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1750081 usd
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
771894 usd
us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
1756360 usd
us-gaap Repayments Of Other Short Term Debt
RepaymentsOfOtherShortTermDebt
612703 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
300166 usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
6162743 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6270000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1469082 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3907216 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-296261 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
122526 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-341126 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11541492 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26583488 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22860463 usd
CY2022Q4 jrsh Cash And Restricted Cash End Of Year
CashAndRestrictedCashEndOfYear
26242362 usd
CY2021Q4 jrsh Cash And Restricted Cash End Of Year
CashAndRestrictedCashEndOfYear
34401955 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26242362 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34401955 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1615353 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1301588 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24627009 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33100367 usd
us-gaap Interest Paid Net
InterestPaidNet
500331 usd
us-gaap Interest Paid Net
InterestPaidNet
147677 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1354754 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1644546 usd
jrsh Equipment Obtained By Utilizing Longterm Deposit
EquipmentObtainedByUtilizingLongtermDeposit
1111043 usd
jrsh Equipment Obtained By Utilizing Longterm Deposit
EquipmentObtainedByUtilizingLongtermDeposit
322143 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
190654 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
821671 usd
us-gaap Acquisition Costs
AcquisitionCosts
5100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the unaudited condensed consolidated financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s most significant estimates include allowance for doubtful accounts, valuation of inventory reserve, useful lives of buildings and other property, and the measurement of stock-based compensation expenses. Actual results could differ from these estimates </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
221583 usd
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
221583 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
5545946 usd
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
11049069 usd
CY2022Q4 jrsh Goodwill1
Goodwill1
499282 usd
CY2022Q1 jrsh Goodwill1
Goodwill1
499282 usd
jrsh Contract Liabilities
ContractLiabilities
296985 usd
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
296985 usd
jrsh Income Tax Description
IncomeTaxDescription
In accordance with Development Zone law, Jerash Garments and its subsidiaries were subject to corporate income tax in Jordan at a rate of 16% plus a 1% social contribution between January 1, 2021 and December 31, 2021. Effective January 1, 2022, the income tax rate increased to 18% or 20%, plus a 1% social contribution.
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.16 pure
CY2022Q4 jrsh Income Tax Realized Percentage
IncomeTaxRealizedPercentage
0.50 pure
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentrations and Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Credit risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. As of December 31, 2022 and March 31, 2022, respectively, $8,223,946 and $12,735,486 of the Company’s cash was on deposit at financial institutions in Jordan, where there currently is no rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the event of bank failure. As of December 31, 2022, and March 31, 2022, respectively, $83,589 and $351,255 of the Company’s cash were on deposit at financial institutions in China, respectively. Cash maintained in banks within China of less than CNY 0.5 million (equivalent to $72,482) per bank is covered by “deposit insurance regulation” promulgated by the State Council of the People’s Republic of China. As of December 31, 2022, and March 31, 2022, $17,434,519 and $13,311,340 of the Company’s cash was on deposit at financial institutions in Hong Kong, respectively, which are insured by the Hong Kong Deposit Protection Board subject to certain limitations. While management believes that these financial institutions are of high credit quality, it also continually monitors their creditworthiness. As of December 31, 2022, and March 31, 2022, respectively, $346,393 and $37,342 of the Company’s cash was on deposit in the United States, respectively, and are insured by the Federal Deposit Insurance Corporation up to $250,000.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable are typically unsecured and derived from revenue earned from customers, and therefore are exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Customer and vendor concentration risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s sales are made primarily in the United States. Its operating results could be adversely affected by U.S. government policies on importing business, foreign exchange rate fluctuations, and changes in local market conditions. The Company has a concentration of its revenue and purchases with specific customers and suppliers. For the three months ended December 31, 2022, four end-customers accounted for 43%, 20%, 19%, and 10% of the Company’s total revenue, respectively. For the nine months ended December 31, 2022, two end-customers accounted for 57% and 18% of the Company’s total revenue, respectively. For the three and nine months ended December 31, 2021, two end-customers accounted for 53% and 27%, and 68% and 23% of the Company’s total revenue, respectively. As of December 31, 2022, three end-customers accounted for 32%, 31%, and 10% of the Company’s total accounts receivable balance, respectively. As of March 31, 2022, one end-customer accounted for 89% of the Company’s total accounts receivable balance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three months ended December 31, 2022, the Company purchased approximately 28% of its garments from one major supplier. For the nine months ended December 31, 2022, the Company purchased approximately 13% and 10% of its garments and raw materials from two major suppliers, respectively. For the three and nine months ended December 31, 2021, the Company purchased approximately 53% and 22%, and 20% and 10% of its garments and raw materials from two major suppliers, respectively. As of December 31, 2022, accounts payable to the Company’s three major suppliers accounted for 21%, 12%, and 12% of its total accounts payable balance, respectively. As of March 31, 2022, accounts payable to the Company’s three major suppliers accounted for 11%, 11%, and 10% of its total accounts payable balance, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
5767529 usd
CY2022Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
11270652 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
14234733 usd
CY2022Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
17714578 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1593382 usd
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2010417 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
10835929 usd
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8530184 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
26664044 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
28255179 usd
CY2022Q4 jrsh Advances On Inventory Purchases Gross
AdvancesOnInventoryPurchasesGross
6009897 usd
CY2022Q1 jrsh Advances On Inventory Purchases Gross
AdvancesOnInventoryPurchasesGross
1284601 usd
CY2022Q4 jrsh Advanceson Inventory Purchase
AdvancesonInventoryPurchase
6009897 usd
CY2022Q1 jrsh Advanceson Inventory Purchase
AdvancesonInventoryPurchase
1284601 usd
jrsh Number Of Operating Leases
NumberOfOperatingLeases
46 pure
jrsh Estimated Construction Cost Description
EstimatedConstructionCostDescription
Through December 31, 2022, the Company had paid approximately JOD 728,000 (approximately $1,027,000) and the entire balance was recorded as construction in progress. The estimated construction cost is revised to approximately JOD 870,000 (approximately $1.2 million). The project is expected to be completed and ready to use in fiscal 2023.
CY2022Q4 us-gaap Area Of Land
AreaOfLand
4516 sqm
CY2022Q4 us-gaap Area Of Land
AreaOfLand
48608 acre
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061 pure
CY2022Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
599906 usd
CY2021Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
618751 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1866619 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1810501 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
210156 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
706682 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
226144 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
90896 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1233878 usd
CY2022Q4 jrsh Less Imputed Interest
LessImputedInterest
68737 usd
CY2022Q4 jrsh Lessee Operating Lease Liability Prepayments
LesseeOperatingLeaseLiabilityPrepayments
94223 usd
CY2022Q4 jrsh Leases Operating Present Valu Lease Liability
LeasesOperatingPresentValuLeaseLiability
1070918 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29179845 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20555494 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
13465044 usd
CY2022Q1 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
11720670 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21227296 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10933147 usd
CY2022Q4 us-gaap Contributions In Aid Of Construction
ContributionsInAidOfConstruction
8200000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3200000 jod
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
390000 usd
CY2022 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
2300000 usd
CY2022Q4 us-gaap Depreciation
Depreciation
569001 usd
CY2021Q4 us-gaap Depreciation
Depreciation
631828 usd
us-gaap Depreciation
Depreciation
1753941 usd
us-gaap Depreciation
Depreciation
1511963 usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12377725 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12334318 shares
us-gaap Temporary Equity Description
TemporaryEquityDescription
On June 24, 2021, the Board of Directors approved the grant of 200,000 Restricted Stock Units (“RSUs”) under the Plan to 32 executive officers and employees of the Company, with a one-year vesting period. All RSUs were vested and 200,000 additional shares were issued on June 30, 2022. 
CY2022Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
156593 shares
CY2022Q4 jrsh Total Consideration Amount
TotalConsiderationAmount
771894 usd
CY2022Q4 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
2228106 usd
jrsh Statutory Reserve Description
StatutoryReserveDescription
Appropriations to the statutory reserve are required to be 10% of net income until the reserve is equal to 100% of the entity’s share capital. This reserve is not available for dividend distribution. In addition, PRC companies are required to set aside at least 10% of their after-tax net profits each year, if any, to fund the statutory reserves until the balance of the reserves reaches 50% of their registered capital.
CY2022Q4 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2022Q3 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2022Q2 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2022Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
621809 usd
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
626716 usd
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
616716 usd
CY2022Q1 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2021Q4 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2021Q3 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2021Q2 jrsh Common Stock Dividend Per Share
CommonStockDividendPerShare
0.05
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
616715 usd
CY2021Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
616716 usd
CY2021Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
566716 usd
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
566649 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
137210 shares
CY2022Q4 jrsh Class Of Warrant Or Rights Outstanding
ClassOfWarrantOrRightsOutstanding
57200 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.75
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2023-05-14
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12412922 shares
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12414048 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
12467315 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
11696223 shares
CY2018Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1484250 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
447750 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
989500 shares
CY2018Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.026 pure
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.503 pure
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
150000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.12
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0295 pure
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.503 pure
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
50000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.5
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0177 pure
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4859 pure
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0308 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1136500 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y
CY2021Q2 jrsh Vesting Period
VestingPeriod
the Board of Directors approved the grant of 200,000 RSUs under the Plan to 32 executive officers and employees of the Company, with a one-year vesting period.
CY2022Q2 jrsh Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Option
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOption
200000 usd
CY2021Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
319101 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
294822 usd
us-gaap Restricted Stock Expense
RestrictedStockExpense
634914 usd
CY2022Q1 us-gaap Due To Employees Current And Noncurrent
DueToEmployeesCurrentAndNoncurrent
300166 usd
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2019Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
3000000 usd
jrsh Number Of Customer Participated In Financing Program
NumberOfCustomerParticipatedInFinancingProgram
2 pure
CY2022Q4 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
199448 usd
us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
450885 usd
CY2022Q4 us-gaap Customer Advances Current
CustomerAdvancesCurrent
296985 usd
CY2022Q4 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1043700 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1043700 shares
CY2022Q4 jrsh Net Income Attributable To Jerash Holdings Us Incs Common Stockholdersin Dollars
NetIncomeAttributableToJerashHoldingsUSIncsCommonStockholdersinDollars
890818 usd
CY2021Q4 jrsh Net Income Attributable To Jerash Holdings Us Incs Common Stockholdersin Dollars
NetIncomeAttributableToJerashHoldingsUSIncsCommonStockholdersinDollars
1674797 usd
jrsh Net Income Attributable To Jerash Holdings Us Incs Common Stockholdersin Dollars
NetIncomeAttributableToJerashHoldingsUSIncsCommonStockholdersinDollars
4403952 usd
jrsh Net Income Attributable To Jerash Holdings Us Incs Common Stockholdersin Dollars
NetIncomeAttributableToJerashHoldingsUSIncsCommonStockholdersinDollars
8050910 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12412922 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12290840 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12414546 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11654039 shares
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
123208 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
52769 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42184 shares
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2022Q4 jrsh Total Revenue Percentage
TotalRevenuePercentage
0.941 pure
CY2021Q4 jrsh Total Revenue Percentage
TotalRevenuePercentage
0.841 pure
jrsh Total Revenue Percentage
TotalRevenuePercentage
0.938 pure
jrsh Total Revenue Percentage
TotalRevenuePercentage
0.929 pure
CY2022Q4 jrsh Concentration Risk Net Asset Amount Geographic Area
ConcentrationRiskNetAssetAmountGeographicArea
43027047 usd
CY2021Q4 jrsh Concentration Risk Net Asset Amount Geographic Area
ConcentrationRiskNetAssetAmountGeographicArea
36815023 usd
jrsh Concentration Risk Net Asset Amount Geographic Area
ConcentrationRiskNetAssetAmountGeographicArea
114289303 usd
jrsh Concentration Risk Net Asset Amount Geographic Area
ConcentrationRiskNetAssetAmountGeographicArea
112414881 usd
CY2019Q3 us-gaap Capital Units
CapitalUnits
3000000 hkd
CY2020Q4 us-gaap Capital Units
CapitalUnits
15000000 hkd
CY2022Q4 us-gaap Capital Units
CapitalUnits
15000000 hkd
CY2022Q4 jrsh Capital Contribution
CapitalContribution
10000000 hkd
dei Entity Central Index Key
EntityCentralIndexKey
0001696558
us-gaap Income Tax Holiday Description
IncomeTaxHolidayDescription
Jerash Garments, Jerash Embroidery, Chinese Garments, Paramount, Jerash The First, MK Garments, and Kawkab Venue are subject to the regulations of the Income Tax Department in Jordan. In accordance with the Investment Encouragement Law, Jerash Garments’ export sales to overseas customers were entitled to a 100% income tax exemption for a period of 10 years commencing on the first day of production. This exemption had been extended for five years until December 31, 2018. Effective January 1, 2019, the Jordanian government reclassified the area where Jerash Garments and its subsidiaries are to a Development Zone. In accordance with the Development Zone law, Jerash Garments and its subsidiaries were subject to income tax at income tax rate of 16% plus a 1% social contribution between January 1, 2021 and December 31, 2021. Effective from January 1, 2022, the income tax rate raised to 18% or 20% plus 1% social contribution. 
CY2022Q4 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.267 pure
us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.266 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022Q4 jrsh Investment Deposits
InvestmentDeposits
usd
CY2022Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
usd
CY2022Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
usd
CY2022Q1 us-gaap Treasury Stock Value
TreasuryStockValue
usd
CY2022Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
shares
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
usd
jrsh Cashless Exercise Of Warrants
CashlessExerciseOfWarrants
usd
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
jrsh Bad Debt Expense
BadDebtExpense
usd
jrsh Payments For Construction Of Properties
PaymentsForConstructionOfProperties
usd
jrsh Acquisition Of Mk Garments
AcquisitionOfMKGarments
usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
usd
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2022 jrsh Contract Liabilities
ContractLiabilities
usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
usd
CY2022Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
usd
CY2022Q4 jrsh Allowance For Doubtful Accounts Receivable From Suppliers
AllowanceForDoubtfulAccountsReceivableFromSuppliers
usd
CY2022Q1 jrsh Allowance For Doubtful Accounts Receivable From Suppliers
AllowanceForDoubtfulAccountsReceivableFromSuppliers
usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
usd
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2022Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
usd
CY2022Q4 us-gaap Due To Employees Current And Noncurrent
DueToEmployeesCurrentAndNoncurrent
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31

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