Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 63

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 63
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 and services is comprised of revenue from service fee, labor cost charged, rental of machinery and equipment, transport costs incurred, maintenance works charged, among other things.

Our total revenue increased by S$2,340,674 or 10.7% to S$24,201,834 for the twelve months ended April 30, 2024 from approximately S$21,861,160 for the 12 months ended April 30, 2023. Such increase was mainly attributable to more projects being completed during the financial year April 30, 2024 as compared to the financial year April 30, 2023.

Our net income was S$2,007,469 and
S$783,735 for the twelve months ended April 30, 2024 and 2023, respectively. The increase in net income 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 0.2% 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 94.3% 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, 2024 and 2023, our Group’s cost of sales increased by S$1,156,021 or 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.

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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