v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 10 Months Ended 12 Months Ended
Jun. 15, 2023
Mar. 31, 2024
Mar. 31, 2026
Mar. 31, 2025
Operating activities        
Net profit $ 2,375 $ 82,088 $ 33,878 $ 46,977
Adjustments for:        
Income tax expenses 657 7,424 4,517 13,189
Depreciation of property, plant and equipment 251 3,800 4,679 2,711
Amortization of intangible assets 6 97 67 84
Depreciation of right-of-use assets 140 1,030 1,620 1,412
Loss/(gain) on disposal of property, plant and equipment 0 (357)   111
(Reversal of)/allowance for inventories obsolescence (6) (335) (780) 571
(Reversal of)/allowance for expected credit losses   (3) (81) 121
Finance costs 200 915 404 284
Finance income (74) (55) (3,593) (339)
Net gain on fair value changes of financial liabilities at fair value through profit or loss 0 0 (413) 0
Loss/(gain) on unrealized foreign exchange 134 (793) 347 493
Gain on bargain purchase   (49,429)    
Changes in operating assets and liabilities:        
Trade receivables (2,727) (17,961) (5,407) 18,975
Contract assets 1,139 (1,505) (749) 764
Inventories (360) (20,817) 16,165 (2,329)
Prepayment and other assets (1,219) 418 (2,401) 809
Trade receivables due from related parties (428) 284    
Trade and other payables (2,224) 26,157 12,576 (32,239)
Employee benefits obligation 24 11 516 59
Changes in operating assets and liabilities (2,112) 30,969 61,345 51,653
Interest received 74 55 3,593 339
Income taxes refund     2,398  
Income taxes paid (852) (6,979) (13,218) (11,490)
Net cash provided by/(used in) operating activities (2,890) 24,045 54,118 40,502
Investing activities        
Proceeds from sale of property, plant and equipment   698 2  
Cash payment for management buyout   (2,000)    
Acquisition of property, plant and equipment (1,200) (3,238) (1,114) (2,863)
Acquisition of intangible asset   (11) (523)  
(Loan to)/repayment from related parties 20,981 (1,585) (400) 1
Net cash (used in)/provided by investing activities 19,781 (6,136) (2,035) (2,862)
Financing activities        
Proceeds from issuance of ordinary shares     30,583  
Payment of offering cost     (1,731)  
Advances from potential investors   5,000    
Proceeds from loans and borrowings 874      
Proceeds from loans from related parties 8,845      
Repayment of loans from related parties (28,038)      
Repayment of loans and borrowings   (3,874)   (6,504)
Interest paid (200) (211) (404) (253)
Payment of lease liabilities (197) (824) (1,468) (1,302)
Net cash provided by/(used in) financing activities (18,716) 91 26,980 (8,059)
Effect of foreign exchange on cash, cash equivalents and restricted cash (75) (2,473) (592) 820
Net increase/(decrease) in cash, cash equivalents and restricted cash (1,900) 15,527 78,471 30,401
Cash, cash equivalents and restricted cash at beginning of year/period 31,803 29,903 75,831 45,430
Cash, cash equivalents and restricted cash at end of year/period 29,903 45,430 154,302 75,831
Less: Restricted cash, non-current 1,150 367 340 1,189
Less: Restricted cash, current 1,087 1,593 1,977 1,692
Cash and cash equivalents at end of year/period $ 27,666 $ 43,470 $ 151,985 $ 72,950