The company maintains a conservative capital structure with a 0.41 debt-to-equity ratio, though this minimal leverage is overshadowed by a limited cash buffer of only $443,117.
| Metric | Mar'25 | Mar'24 | Mar'23 | Mar'22 |
|---|
| Total Current Assets | 4.13M | 4.43M | 3.87M | 2.34M |
| Cash & Short-Term Investments | 443.12K | 995.09K | 401.55K | 211.75K |
| Cash Only | 443.12K | 995.09K | 401.55K | 211.75K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3M | 2.53M | 2.29M | 1.67M |
| Days Sales Outstanding | 104.37 | 107.63 | 111.82 | 157.38 |
| Inventory | 690.52K | 912.43K | 1.18M | 453.87K |
| Days Inventory Outstanding | 29.26 | 49.53 | 82.06 | 57.98 |
| Other Current Assets | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.54M | 1.42M | 1.17M | 619.4K |
| Property, Plant & Equipment | 874.26K | 643.91K | 473.81K | 113.79K |
| Fixed Asset Turnover | 11.99x | 13.31x | 15.80x | 34.13x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 367.94K | 409.77K | 446.77K | 393.02K |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 294.5K | 364.65K | 246.62K | 112.59K |
| Total Assets | 5.67M | 5.85M | 5.04M | 2.96M |
| Asset Turnover | 1.85x | 1.46x | 1.49x | 1.31x |
| Asset Growth % | -3.19% | 16.16% | 70.24% | - |
| Total Current Liabilities | 3.67M | 3.51M | 2.26M | 1.19M |
| Accounts Payable | 977.46K | 1.05M | 842.47K | 265.96K |
| Days Payables Outstanding | 41.42 | 57.24 | 58.78 | 33.98 |
| Short-Term Debt | 46.98K | 44.49K | 45.13K | 40.75K |
| Deferred Revenue (Current) | 1.38M | 1.57M | 371.61K | 202.5K |
| Other Current Liabilities | 0 | 0 | 0 | 0 |
| Current Ratio | 1.13x | 1.27x | 1.72x | 1.97x |
| Quick Ratio | 0.94x | 1.00x | 1.20x | 1.59x |
| Cash Conversion Cycle | 92.21 | 99.92 | 135.1 | 181.39 |
| Total Non-Current Liabilities | 253K | 371.37K | 510.73K | 346.85K |
| Long-Term Debt | 36.57K | 81.8K | 124.27K | 169.15K |
| Capital Lease Obligations | 216.43K | 289.57K | 386.45K | 177.7K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.92M | 3.88M | 2.77M | 1.53M |
| Total Debt | 724.05K | 845.31K | 958.73K | 572.91K |
| Net Debt | 280.94K | -149.79K | 557.18K | 361.16K |
| Debt / Equity | 0.41x | 0.43x | 0.42x | 0.40x |
| Debt / EBITDA | 2.09x | 2.51x | 0.74x | 1.59x |
| Net Debt / EBITDA | 0.81x | -0.44x | 0.43x | 1.01x |
| Interest Coverage | -5.84x | -0.93x | 43.81x | 21.60x |
| Total Equity | 1.75M | 1.98M | 2.27M | 1.43M |
| Equity Growth % | -11.67% | -13.06% | 59.23% | - |
| Book Value per Share | 0.68 | 0.77 | 0.87 | 0.82 |
| Total Shareholders' Equity | 1.75M | 1.98M | 2.27M | 1.43M |
| Common Stock | 150K | 150K | 150K | 150K |
| Retained Earnings | 942.84K | 1.17M | 1.47M | 624.78K |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
As indicated by the company's financial profile, the balance sheet trajectory appears increasingly precarious, with a reported cash position of $443,117 failing to provide a sufficient buffer against the ongoing operational losses inherent in the firm's current maritime hardware-heavy business model and high-growth expansion strategy.
The lack of a strengthening capital base suggests that the company is struggling to convert its 22.27% revenue growth into tangible balance sheet improvements. Investors should monitor whether the current trajectory necessitates dilutive equity financing to bridge the gap between operational cash burn and long-term profitability.
Based on the reported figures, iOThree Limited maintains a cash balance of only $443,117, which suggests a highly constrained liquidity position that may leave the firm vulnerable to sudden shifts in maritime market demand or unexpected increases in the cost of satellite capacity procurement.
This limited cash reserve implies that the company has minimal margin for error regarding working capital management or unexpected capital expenditures. The firm's ability to sustain its current growth trajectory appears heavily dependent on maintaining tight control over receivables and inventory, which may be difficult given the nature of maritime equipment deployment.
According to the provided data, the company maintains a negligible debt-to-equity ratio of 0.41, which suggests that management has avoided significant financial leverage despite the persistent negative operating margins that characterize the firm's current stage of development in the maritime telecommunications sector.
While the low debt level provides a degree of insulation from interest rate volatility, it also highlights the company's reliance on equity-based funding or operational cash flow to support its activities. This conservative capital structure may be a strategic necessity given the lack of consistent profitability, though it limits the firm's ability to utilize debt for scaling operations.
As noted in financial disclosures, the company's reliance on hardware-heavy maritime installations may create significant balance sheet distortions, as the potential capitalization of equipment costs could be masking the true extent of the cash burn required to secure long-term service contracts with vessel operators.
The valuation of these contract assets warrants further investigation, as their recoverability is inherently tied to the financial health of the shipping industry and the long-term retention of maritime clients. If these assets are not effectively converted into recurring service revenue, the balance sheet may be exposed to future impairment risks that are not currently reflected in the headline figures.
Quick answers to the most common questions about buying IOTR stock.
As of 2025, iOThree Limited Ordinary Shares (IOTR) had total assets of $5.7M including $4.1M in current assets.
iOThree Limited Ordinary Shares (IOTR) carries total debt of $0.7M, offset by $0.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
iOThree Limited Ordinary Shares (IOTR) has total shareholders' equity (book value) of $1.7M ($0.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
iOThree Limited Ordinary Shares (IOTR) reported a current ratio of 1.13x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.