v3.26.1
Revenue
 3 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

16. Revenue

 

The following table summarizes revenue by the Company’s service offerings:

Schedule of revenue by service offerings

 

   For the
period ended
June 30, 2026		   For the
period ended
June 30, 2025		 
Revenue from services          
Commission and Distribution Income   7,345,145    5,728,215 
Income from Insurance as a Service*   8,849,179    5,137,330 
Revenues   16,194,324    10,865,545 

 

*Revenue from Income from Insurance as a Service includes revenue from Trading of Spare Parts.

 

There were three customers that individually represented 11%, 8% and 8% of the Company’s revenue for the period ended June 30, 2026 and one customer individually represented 14% of the Company’s accounts receivable balance as of June 30, 2026.

 

There were three customers that individually represented 13%, 10% and 8% of the Company’s revenue for the period ended March 31, 2026 and one customer individually represented 8% of the Company’s accounts receivable balance as of March 31, 2026.

 

Contract balances

 

The following table provides information about receivables and contract liabilities from contracts with customers:

Summary of contract liabilities from contract with customers

 

   As of
June 30, 2026		   As of
March 31, 2026		 
Contract liabilities          
Deferred revenue   958,360    921,050 
Total contract liabilities   

958,360

    921,050 
Contract assets          
Unbilled revenue   6,923,801    6,626,705 
Total contract assets   

6,923,801

    6,626,705 

 

The Company records deferred revenues when cash payments are received or due in advance of Company’s performance. Deferred revenues primarily relate to commission and distribution income and insurance as a service. The amount of revenue recognized for the period ended June 30, 2026 that was included in the deferred revenue balance as of March 31, 2026 was $7,360,608.

 

Contract assets represent a conditional right to consideration for satisfied performance obligations that become a receivable when the conditions are satisfied. Contract assets are generated when contractual billing schedules differ from the timing of revenue recognition or cash collection and are included in “prepayments and other current assets” in the consolidated balance sheets which will be billed in the month subsequent to the period in which performance obligations were satisfied.

 

 

The following table provides information about the geographical segregation of the revenue of the Company:

Schedule of geographical segregation of revenue

 

   For the
period ended
June 30, 2026		   For the
period ended
June 30, 2025		 
India   9,951,576    6,423,695 
United States of America   4,335,622    2,916,061 
United Kingdom   1,237,153    1,525,789 
China   669,973    - 
Total   16,194,324    10,865,545