The company maintains a tight liquidity profile with only $2.3 million in cash against $23.3 million in annual revenue, suggesting a high sensitivity to payment delays from main contractors.
| Metric | Mar'25 | Mar'24 | Mar'23 |
|---|
| Total Current Assets | 6.54M | 7.45M | 3.31M |
| Cash & Short-Term Investments | 2.37M | 189.47K | 171.16K |
| Cash Only | 2.37M | 189.47K | 171.16K |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 3.71M | 7.26M | 3.14M |
| Days Sales Outstanding | 58.02 | 128.44 | 144 |
| Inventory | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 463.53K | 0 | 0 |
| Total Non-Current Assets | 12.83K | 236.34K | 26.46K |
| Property, Plant & Equipment | 0 | 1.38K | 22.13K |
| Fixed Asset Turnover | - | 14905.09x | 359.39x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 225.21K | 0 |
| Total Assets | 6.55M | 7.69M | 3.33M |
| Asset Turnover | 3.56x | 2.68x | 2.38x |
| Asset Growth % | -14.79% | 130.52% | - |
| Total Current Liabilities | 3.09M | 5.67M | 2.61M |
| Accounts Payable | 413.49K | 2.33M | 1.38M |
| Days Payables Outstanding | 7.14 | 44.99 | 66.59 |
| Short-Term Debt | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 2.12x | 1.31x | 1.27x |
| Quick Ratio | 2.12x | 1.31x | 1.27x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 |
| Total Liabilities | 3.09M | 5.67M | 2.61M |
| Total Debt | 0 | 0 | 12.84K |
| Net Debt | -2.37M | -189.47K | -158.33K |
| Debt / Equity | - | - | 0.02x |
| Debt / EBITDA | - | - | 0.05x |
| Net Debt / EBITDA | -1.57x | -0.12x | -0.58x |
| Interest Coverage | - | 5826.19x | 127.58x |
| Total Equity | 3.46M | 2.02M | 722.86K |
| Equity Growth % | 71.38% | 179.32% | - |
| Book Value per Share | 0.28 | - | 0.05 |
| Total Shareholders' Equity | 3.46M | 2.02M | 722.86K |
| Common Stock | 1.25K | 3 | 3 |
| Retained Earnings | 3.29M | 2.02M | 722.86K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidity and payment cycle
As reported in financial statements, MSGY maintains a $2.3 million cash position against $23.3 million in annual revenue, which suggests a narrow liquidity buffer that may leave the firm susceptible to payment delays from main contractors within the highly cyclical Hong Kong construction market environment.
The current cash-to-revenue ratio indicates that the company operates with limited financial flexibility to absorb unexpected project disruptions or extended collection cycles. Investors should monitor whether this liquidity profile forces the firm to rely on expensive short-term financing to bridge working capital gaps during the final stages of project completion.
Based on the company's reported figures, the reliance on project-based subcontracting suggests that a significant portion of the asset base likely consists of contract assets rather than liquid capital, which warrants further investigation into the quality and collectability of these unbilled receivables from main contractors.
The asset mix appears heavily skewed toward intangible contract rights rather than tangible equipment, reflecting an asset-light model that prioritizes labor coordination over capital investment. This structure implies that the firm's balance sheet strength is intrinsically tied to the creditworthiness of the developers and main contractors it serves.
According to recent SEC filings, the firm's reliance on multi-layered subcontracting arrangements may obscure significant off-balance sheet liabilities, as the company remains responsible for labor performance despite the thin 9.31% gross margin that provides little room for error in managing potential project-related legal or regulatory disputes.
The lack of transparency regarding retention receivables and potential performance bonds suggests that the headline balance sheet may not fully capture the firm's true risk exposure. Analysts should be cautious of the potential for sudden impairment charges if project milestones are not met or if main contractors face insolvency.
Quick answers to the most common questions about buying MSGY stock.
As of 2025, Masonglory Limited Ordinary Shares (MSGY) had total assets of $6.6M including $6.5M in current assets.
Masonglory Limited Ordinary Shares (MSGY) carries total debt of $0.0M, offset by $2.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Masonglory Limited Ordinary Shares (MSGY) has total shareholders' equity (book value) of $3.5M ($0.28 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Masonglory Limited Ordinary Shares (MSGY) reported a current ratio of 2.12x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.