Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 74

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 5
Chunk 74
---
 currency exchange.
Other income decreased by S$5,091, or approximately 10.2% from S$49,872 for the financial year ended April 30, 2024 to S$44,781 for the
financial year ended April 30, 2025.

Income
Tax Expense

The
provisions for income taxes were S$116,373, S$87,888 and S$19,146 as of April 30, 2023, April 30, 2024 and April 30, 2025,
respectively. The effective tax rate, calculated as income tax divided by profit before income tax was approximately 4.6% for the
financial year ended April 30, 2023 and approximately 0.8% for the financial year ended April 30, which were low compared to the statutory tax rate of 17%, mainly due to the utilization of
prior years’ unutilized capital allowance and trade losses.

Net
Profit After Income Tax

As
a result of the foregoing, our net profit after income tax amounted to S$783,735, S$2,007,469 and S$42,980 for the twelve months
ended April 30, 2023, 2024 and 2025, respectively.

  46  

Liquidity
and Capital Resources

As
of April 30, 2024, our cash balances amounted to approximately S$1,868,461, our current assets were S$7,077,663, and our current liabilities
were S$4,956,233. For the financial year ended April 30, 2024, we generated profit for the financial year of S$2,007,469 with net operating
cash inflows of S$609,817.

As
of April 30, 2025, our cash balances amounted to approximately S$759,891, our current assets were S$7,459,826, and our current liabilities
were S$6,002,617. For the financial year ended April 30, 2025, we generated profit for the financial year of S$42,980 with net operating
cash outflows of S$926,041.

During the year ended April 30, 2025, Herlin declared interim tax exempt
(one-tier) dividends of S$200,000 and S$300,000 to Mr. Lim, our Chief Executive Director, and the controlling shareholder of our Company