Company: MAGH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001641172-25-014489
Chunk: 63

Company: Magnitude International Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 63
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 ad-hoc services accounted for S$22,766,161 and S$1,435,673, respectively.

Our net profit after income tax amounted to S$783,735 and S$2,007,469 for the financial years ended April 30, 2023 and 2024, respectively.

For the six months ended October 31, 2024, our
net revenue amounted to S$7,279,839 of which the total revenue from greenfield and brownfield projects, and ad-hoc services accounted
for S$5,544,368 and S$1,735,471 respectively. Our net profit after income tax amounted to S$196,748.

KEY FACTORS AFFECTING THE RESULTS OF OUR GROUP’S OPERATIONS

Our financial condition and results of operation have been and will continue to be affected by a number of factors, many of which may be beyond our control, including those factors set out in the section headed ‘‘Risk Factors’’ in this prospectus and those set out below.

| ● | Demand                                                                                      
 from our major customer groups – Our aggregate sales generated from our top five customers  
 were approximately 87.9% and 85.5% of our revenue for the financial years ended             
 April 30, 2023 and 2024, respectively. In addition, our aggregate sales generated from      
 our top five customers were approximately 91.8% and 72.5% of our revenue for the six months 
 ended October 31, 2023 and 2024, respectively. Sales to our largest customer amounted       
 to S$12,637,595 and S$2,365,856 for the financial year ended April 30, 2024 and the six     
 months ended October 31, 2024 respectively, representing approximately 52.2% and 32.5% of   
 our revenue respectively. Our sales are significantly affected by the demands of our        
 largest customer which are largely influenced by the overall costs to complete the project  
 on time, without comprising on the quality of works.                                        |

| 46 |

| ● | Stiff                                                                                             
 competition in the market – The mechanical and electrical works industry in Singapore             
 is highly regulated with strict safety standards, and companies are expected to have a strong     
 track record of delivering high-quality projects. There are 2,200 contractors registered          
 with the BCA under the ME05 (Electrical Engineering) (of which 27 are of Grade L3 and 144