| Summary of Disaggregated Revenue |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Successor |
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|
Successor |
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|
Successor |
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|
Predecessor |
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|
For the
year ended
March 31,
2026 |
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|
For the
year ended
March 31,
2025 |
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|
For the period
June 16, 2023
through
March 31,
2024 |
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|
For the period
April 1
through
June 15,
2023 |
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|
|
US$’000 |
|
|
US$’000 |
|
|
US$’000 |
|
|
US$’000 |
|
Revenue |
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|
|
|
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|
|
|
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|
Sale of oilfield equipment products |
|
|
|
|
|
|
|
|
|
|
|
|
Specialty connectors and pipes |
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|
96,065 |
|
|
|
143,091 |
|
|
|
113,531 |
|
|
|
5,114 |
|
Surface wellhead and Christmas tree |
|
|
10,869 |
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|
|
8,675 |
|
|
|
6,750 |
|
|
|
3,017 |
|
|
|
|
106,934 |
|
|
|
151,766 |
|
|
|
120,281 |
|
|
|
8,131 |
|
Rendering of premium threading and other ancillary
services |
|
|
|
|
|
|
|
|
|
|
|
|
Premium threading services |
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|
33,443 |
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|
|
36,832 |
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|
|
31,088 |
|
|
|
7,625 |
|
Other ancillary services |
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|
15,533 |
|
|
|
15,009 |
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|
|
11,898 |
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|
|
2,426 |
|
|
|
|
48,976 |
|
|
|
51,841 |
|
|
|
42,986 |
|
|
|
10,051 |
|
|
|
|
155,910 |
|
|
|
203,607 |
|
|
|
163,267 |
|
|
|
18,182 |
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|
|
|
|
|
|
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|
Timing of revenue recognition |
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|
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|
Products transferred at a point in time |
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|
106,934 |
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|
|
151,766 |
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|
|
120,281 |
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|
8,131 |
|
Services transferred at a point in time |
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|
48,976 |
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|
|
51,841 |
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|
|
42,986 |
|
|
|
10,051 |
|
|
|
|
155,910 |
|
|
|
203,607 |
|
|
|
163,267 |
|
|
|
18,182 |
|
Revenue by geographic location |
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|
Saudi Arabia |
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|
91,761 |
|
|
|
141,084 |
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|
|
112,015 |
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|
3,544 |
|
Singapore |
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|
19,267 |
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|
19,407 |
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|
19,011 |
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|
4,577 |
|
Malaysia |
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|
12,781 |
|
|
|
15,265 |
|
|
|
11,102 |
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|
|
3,402 |
|
Thailand |
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|
13,308 |
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|
|
11,399 |
|
|
|
7,603 |
|
|
|
2,367 |
|
Indonesia |
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|
15,677 |
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|
|
13,555 |
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|
|
11,154 |
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|
|
3,740 |
|
Others |
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|
3,116 |
|
|
|
2,897 |
|
|
|
2,382 |
|
|
|
552 |
|
|
|
|
155,910 |
|
|
|
203,607 |
|
|
|
163,267 |
|
|
|
18,182 |
|
|
| Summary of Contract Assets |
Contract assets primarily relate to the Predecessor and the Successor’s right for consideration for work completed.
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|
Successor |
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|
Successor |
|
|
Successor |
|
|
Predecessor |
|
|
|
For the
year ended
March 31,
2026 |
|
|
For the
year ended
March 31,
2025 |
|
|
For the period
June 16, 2023
through
March 31,
2024 |
|
|
For the period
April 1
through
June 15,
2023 |
|
|
|
US$’000 |
|
|
US$’000 |
|
|
US$’000 |
|
|
US$’000 |
|
Balance at beginning of period |
|
|
983 |
|
|
|
1,730 |
|
|
|
225 |
|
|
|
1,364 |
|
Transferred to trade receivables |
|
|
(983 |
) |
|
|
(1,730 |
) |
|
|
(225 |
) |
|
|
(1,364 |
) |
Recognized as revenue |
|
|
1,732 |
|
|
|
983 |
|
|
|
1,730 |
|
|
|
225 |
|
Balance at end of period |
|
|
1,732 |
|
|
|
983 |
|
|
|
1,730 |
|
|
|
225 |
|
|