Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 63

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 63
---
 |     | Customer    
 E           |     |    602,688 |     |    886,582 |
| 6    |     | Others      |     |  2,837,317 |     |  3,519,633 |
|      |     | Total       |     | 21,861,160 |     | 24,201,834 |

*Note: Customer A to Customer E is
to show the ranking and may not be the same customer.

Our net profit after income tax
was S$783,735 and S$2,007,469 for the twelve months ended April 30, 2023 and 2024, respectively. The increase
in net profit for the twelve months ended April 30 2024 was mainly attributable to higher gross margin projects completed during
the financial year.

For the twelve months ended April 30,
2023, we did not have any public sector projects and for the twelve months ended April 30, 2024, approximately 1.9% of our total
revenue was generated from projects derived from public sectors. For the financial years ended April 30, 2023 and 2024, our revenue generated
from projects derived from private sectors accounted for approximately 95.7% and 92.6% of our total revenue and our revenue generated
from non-projects works and services accounted for approximately 4.3% and 5.5% of our total revenue, respectively.

Cost of Sales (exclusive of depreciation and amortization expenses)

During the twelve months ended April 30, 2023 and 2024, our Group’s cost of sales increased by S$1,156,021 or approximately 6.0% to S$20,363,812 for the twelve months ended April 30, 2024 from S$19,207,791 for the twelve months ended April 30, 2023. The cost of sales increase during the twelve months ended April 30, 2024 corresponded with the increase in revenue as more projects were completed.

| 49 |

Distribution Costs

Our distribution costsare comprised mainly of advertisement expenses, local transportation expenses, entertainment expenses, gifts and donations, subscriptions and memberships and sponsorships. The following table sets forth the breakdown of our selling and distribution expenses for the twelve months ended April 30, 2023 and 2024:

|                           |     | Financial Years Ended April 30, |         |     |