| BUSINESS SEGMENT AND DISAGGREGATION OF REVENUE (RESTATEMENT) |
NOTE – 3 BUSINESS SEGMENT AND DISAGGREGATION OF REVENUE (RESTATEMENT)
The Company has disaggregated its revenue from
contracts with customers into categories based on the business segment and nature of the revenue in the following table:
| |
|
Years ended March 31, |
|
| |
|
2025 |
|
|
2024 |
|
| |
|
Satellite connectivity solution |
|
|
Digitalization and other solution |
|
|
Unallocated |
|
|
Total |
|
|
Satellite connectivity solution |
|
|
Digitalization and other solution |
|
|
Unallocated |
|
|
Total |
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subscription |
|
$ |
4,408,157 |
|
|
|
503,586 |
|
|
|
— |
|
|
|
4,911,743 |
|
|
$ |
3,678,354 |
|
|
|
369,179 |
|
|
|
— |
|
|
|
4,047,533 |
|
| Equipment, device and services |
|
|
2,250,024 |
|
|
|
3,316,783 |
|
|
|
— |
|
|
|
5,566,807 |
|
|
|
1,933,744 |
|
|
|
2,588,793 |
|
|
|
— |
|
|
|
4,522,537 |
|
| |
|
|
6,658,181 |
|
|
|
3,820,369 |
|
|
|
— |
|
|
|
10,478,550 |
|
|
|
5,612,098 |
|
|
|
2,957,972 |
|
|
|
— |
|
|
|
8,570,070 |
|
| Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subscription |
|
$ |
(2,920,327 |
) |
|
|
(532,030 |
) |
|
|
— |
|
|
|
(3,452,357 |
) |
|
$ |
(2,018,989 |
) |
|
|
(363,207 |
) |
|
|
— |
|
|
|
(2,382,196 |
) |
| Equipment, device and services |
|
|
(2,036,887 |
) |
|
|
(3,125,072 |
) |
|
|
— |
|
|
|
(5,161,959 |
) |
|
|
(1,931,319 |
) |
|
|
(2,410,964 |
) |
|
|
— |
|
|
|
(4,342,283 |
) |
| |
|
|
(4,957,214 |
) |
|
|
(3,657,102 |
) |
|
|
— |
|
|
|
(8,614,316 |
) |
|
|
(3,950,308 |
) |
|
|
(2,774,171 |
) |
|
|
— |
|
|
|
(6,724,479 |
) |
| Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subscription |
|
$ |
1,487,830 |
|
|
|
(28,444 |
) |
|
|
— |
|
|
|
1,459,386 |
|
|
$ |
1,659,365 |
|
|
|
5,972 |
|
|
|
— |
|
|
|
1,665,337 |
|
| Equipment, device and services |
|
|
213,137 |
|
|
|
191,711 |
|
|
|
|
|
|
|
404,848 |
|
|
|
2,425 |
|
|
|
177,829 |
|
|
|
— |
|
|
|
180,254 |
|
| |
|
|
1,700,967 |
|
|
|
163,267 |
|
|
|
- |
|
|
|
1,864,234 |
|
|
|
1,661,790 |
|
|
|
183,801 |
|
|
|
— |
|
|
|
1,845,591 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses |
|
$ |
(124,265 |
) |
|
|
— |
|
|
|
(1,942,623 |
) |
|
|
(2,066,888 |
) |
|
$ |
(74,844 |
) |
|
|
— |
|
|
|
(1,803,896 |
) |
|
|
(1,878,740 |
) |
| Income/(loss) from operations |
|
|
1,576,702 |
|
|
|
163,267 |
|
|
|
(1,942,623 |
) |
|
|
(202,654 |
) |
|
|
1,586,946 |
|
|
|
183,801 |
|
|
|
(1,803,896 |
) |
|
|
(33,149 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Finance income |
|
|
23,671 |
|
|
|
— |
|
|
|
— |
|
|
|
23,671 |
|
|
|
20,743 |
|
|
|
— |
|
|
|
— |
|
|
|
20,743 |
|
| Finance cost |
|
|
(29,015 |
) |
|
|
— |
|
|
|
(5,687 |
) |
|
|
(34,702 |
) |
|
|
(29,370 |
) |
|
|
— |
|
|
|
(6,460 |
) |
|
|
(35,830 |
) |
| Income/ (loss) before income taxes |
|
|
1,571,358 |
|
|
|
163,267 |
|
|
|
(1,948,310 |
) |
|
|
(213,685 |
) |
|
|
1,578,319 |
|
|
|
183,801 |
|
|
|
(1,810,356 |
) |
|
|
(48,236 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Segment assets |
|
$ |
2,496,724 |
|
|
|
1,119,209 |
|
|
|
2,050,572 |
|
|
|
5,666,505 |
|
|
$ |
2,952,219 |
|
|
|
1,022,426 |
|
|
|
1,878,306 |
|
|
|
5,852,951 |
|
| Segment liabilities |
|
|
2,225,732 |
|
|
|
802,457 |
|
|
|
892,835 |
|
|
|
3,921,024 |
|
|
|
415,372 |
|
|
|
228,261 |
|
|
|
3,233,322 |
|
|
|
3,876,955 |
|
The following
table presents revenues earned from external customers:
| | |
Years ended March 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Subscription income from satellite connection service | |
$ | 4,408,157 | | |
$ | 3,678,354 | |
| Sales and lease of satellite network equipment and device | |
| 2,250,024 | | |
| 1,933,744 | |
| Subscription income from Jarviss | |
| 503,586 | | |
| 369,179 | |
| Revenue from IT support services | |
| 3,194,055 | | |
| 2,418,470 | |
| Revenue from shipboard support services | |
| 122,728 | | |
| 170,323 | |
| | |
| | | |
| | |
| | |
$ | 10,478,550 | | |
$ | 8,570,070 | |
The major customers (refer to Note 16(a) for
further details) contributed for $2,424,451 (2024: $869,824) of the Company’s total revenue.
Included in the revenue from sales and lease of
equipment, device and services of satellite connectivity solution of $2,250,024 (2024: $1,933,744), the lease income from sales-type lease
and operating lease are as below:
| | | Years ended March 31, | | | | | 2025 | | | 2024 | | | | | | | | | | | | | Sales-type lease income | | $ | 147,707 | | | $ | 409,931 | | | Operating lease income | | | 226,500 | | | | 116,150 | | | | | | | | | | | | | | | $ | 374,207 | | | $ | 526,081 | |
The following
table presents revenues by geographic area based on the countries in which the customer is located:
| | |
Years ended March 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Singapore | |
$ | 5,228,044 | | |
$ | 3,407,171 | |
| Israel | |
| 1,316,832 | | |
| 869,824 | |
| Malaysia | |
| 1,126,294 | | |
| 1,130,439 | |
| Vietnam | |
| 675,186 | | |
| 534,472 | |
| Republic of Marshall Islands | |
| 428,251 | | |
| 376,457 | |
| Thailand | |
| 295,814 | | |
| 625,178 | |
| Indonesia | |
| 398,979 | | |
| 816,023 | |
| Republic of China | |
| 239,124 | | |
| 56,500 | |
| Others | |
| 770,026 | | |
| 754,006 | |
| | |
| | | |
| | |
| | |
$ | 10,478,550 | | |
$ | 8,570,070 | |
|