Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 0

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 3
Chunk 0
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ITEM
3. KEY INFORMATION

  Reserved  
 ────────────

  Capitalization    
  and Indebtedness  
 ────────────────────

Not
applicable.

  Reasons                            
  for the Offer and Use of Proceeds  
 ─────────────────────────────────────

Not
applicable.

  Risk     
  Factors  
 ───────────

You
should carefully consider the following risk factors and all of the information contained in this Annual Report, including but not limited
to, the matters addressed in the section titled “ Forward-Looking Statements,” and our financial information before you decide
whether to invest in our securities. One or more of a combination of these risks could materially impact our business, financial condition
or results of operations. In any such case, the market price of our securities could decline, and you may lose all or part of your investment.
Additional risks and uncertainties not currently known to us or that we currently do not consider to be material may also materially
and adversely affect our business, financial condition or results of operations.

   1  

RISK
FACTORS

Risks
Relating to Our Business and Industry

If
we fail to retain business relationships with our five largest customers or secure new customers, our business may be adversely affected.

During
the fiscal years ended April 30, 2023, 2024 and 2025, total revenue derived from our five largest customers accounted for approximately
87.9%, 85.5% and 76.7% of our total revenue, respectively, and our largest customer accounted for approximately 70.4%, 52.2% and 30.6%
of our revenue, respectively. As we did not enter into any long-term contracts with any of our five largest customers, and our services
are provided to them on a project-by-project basis and are non-recurring in nature, our ability to obtain new business from them and
to maintain good business relationships with them is subject to the stability of their operations and to their business strategies, both
of which are beyond our control and our ability to predict. If our key customers decide to change their business strategies, such as
downsizing their business or suspending or ceasing their development or expansion plans, their demand for our services may fall or they
may switch to only working with contractors that are willing to offer highly competitive tender/quotation prices or a longer progress
payment period or to accept less commercially favorable terms. Any significant decrease in the number