Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 66

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 5
Chunk 66
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 ended April 30, 2024, our net revenue amounted to S$24,201,834 of which the total revenue from greenfield and brownfield
projects, and ad-hoc services accounted for S$22,766,161 and S$1,435,673, respectively.

For
the financial year ended April 30, 2025, our net revenue amounted to S$15,358,387 of which the total revenue from greenfield and brownfield
projects, and ad-hoc services accounted for S$11,902,567 and S$3,455,820, respectively.

Our
net profit after income tax amounted to S$783,735, S$2,007,469 and S$42,980 for the financial years ended April 30, 2023, 2024 and
2025, respectively.

  41  

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 Annual Report
and those set out below.

  Demand from our major customer                                                                                                               
  groups – Our aggregate sales generated from our top five customers were approximately 87.9%, 85.5% and 76.7% of our revenue                  
  for the financial years ended April 30, 2023, 2024 and 2025, respectively. Sales to our largest customer amounted to S$12,637,595            
  and S$4,697,422 for the financial year ended April 30, 2024 and 2025 respectively, representing approximately 52.2% and 30.6%                
  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.                                            
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Stiff competition in the                                                                                                                     
  Fluctuations in the cost                                                                                                                     
  Delay in completion of                                                                                                                       
  Labor shortages –                                                                                                                            
  Inflation risk –                                                                                                                             

  42  

Description
and Analysis of Principal Components of Our Results of Operations

The
following discussion is based on our