The firm achieved a 13.04% year-over-year revenue growth, though this is tempered by a thin 9.31% gross margin that limits the company's ability to absorb rising labor and material costs.
| Metric | Mar'25 | Mar'24 | Mar'23 |
|---|
| Sales/Revenue | 23.32M | 20.63M | 7.95M |
| Revenue Growth % | 13.04% | 159.42% | - |
| Cost of Goods Sold | 21.15M | 18.93M | 7.58M |
| COGS % of Revenue | 90.69% | 91.75% | 95.35% |
| Gross Profit | 2.17M | 1.7M | 369.58K |
| Gross Margin % | 9.31% | 8.25% | 4.65% |
| Gross Profit Growth % | 27.64% | 360.38% | - |
| Operating Expenses | 668.78K | 181.48K | 142.87K |
| OpEx % of Revenue | 2.87% | 0.88% | 1.8% |
| Selling, General & Admin | 668.78K | 181.48K | 142.87K |
| SG&A % of Revenue | 2.87% | 0.88% | 1.8% |
| Research & Development | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 |
| Operating Income | 1.5M | 1.52M | 226.71K |
| Operating Margin % | 6.45% | 7.37% | 2.85% |
| Operating Income Growth % | -1.12% | 570.46% | - |
| EBITDA | 1.5M | 1.54M | 273.12K |
| EBITDA Margin % | 6.45% | 7.47% | 3.43% |
| EBITDA Growth % | -2.36% | 464.14% | - |
| D&A (Non-Cash Add-back) | 1.38K | 20.74K | 46.41K |
| EBIT | 1.51M | 1.53M | 351.08K |
| Net Interest Income | 2.45K | 5.42K | -1.41K |
| Interest Income | 2.45K | 5.69K | 371 |
| Interest Expense | 0 | 261 | 1.78K |
| Other Income/Expense | 2.45K | 5.42K | 122.59K |
| Pretax Income | 1.51M | 1.53M | 349.3K |
| Pretax Margin % | 6.46% | 7.39% | 4.39% |
| Income Tax | 229.52K | 229.22K | 16.95K |
| Effective Tax Rate % | 15.25% | 15.03% | 4.85% |
| Net Income | 1.28M | 1.3M | 332.35K |
| Net Margin % | 5.47% | 6.28% | 4.18% |
| Net Income Growth % | -1.57% | 290.01% | - |
| Net Income (Continuing) | 1.28M | 1.3M | 332.35K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.00 | 0.00 | 0.02 |
| EPS Growth % | - | -100% | - |
| EPS (Basic) | 0.00 | 0.00 | 0.02 |
| Diluted Shares Outstanding | 0 | 0 | 14M |
| Basic Shares Outstanding | 0 | 0 | 14M |
| Dividend Payout Ratio | - | - | - |
Labor cost inflation sensitivity
As reported in recent financial disclosures, MSGY achieved a 13.04% year-over-year revenue expansion, suggesting the firm is successfully capturing market share within the Hong Kong residential finishing sector despite the inherent volatility of project-based subcontracting work and the broader post-pandemic recovery in local property completions.
The double-digit growth rate indicates that the company's specialized focus on wet-trades is currently resonating with developers seeking reliable artisanal labor. However, investors should monitor whether this growth is sustainable or merely a reflection of a temporary backlog clearing as the firm reaches the final stages of existing project cycles.
Based on the company's reported figures, the 9.31% gross margin highlights a structural vulnerability, as the firm operates as a price-taker in a labor-intensive market where inflationary pressures on cement and skilled trade wages cannot be easily passed on to main contractors or property developers.
This narrow margin profile suggests that any minor disruption in project timelines or unexpected increases in material costs could rapidly erode profitability. The firm appears to lack the pricing power necessary to defend its bottom line against the cyclical downturns typical of the Hong Kong construction industry.
According to the provided financial data, the 5.47% net margin reflects a highly lean administrative structure, yet this efficiency may be deceptive, as it leaves the company with virtually no margin for error in managing its $23.3 million annual operating cost base during project delays.
The reliance on a lean cost structure suggests that management has optimized for survival rather than scalability. Analysts should investigate whether this net income is supported by sustainable operational performance or if it is susceptible to volatility from non-operating items or aggressive revenue recognition practices.
As indicated by the $2.3 million cash position relative to its annual revenue, MSGY maintains a precarious liquidity profile, which warrants further investigation into its ability to fund working capital requirements if payment cycles from main contractors extend beyond current historical norms in the Hong Kong market.
Short-sellers may focus on the potential for a liquidity squeeze, as the company's cash reserves represent less than 10% of its annual revenue. This limited cash buffer suggests that the firm is highly dependent on the timely collection of receivables to maintain its ongoing operations.
Quick answers to the most common questions about buying MSGY stock.
For fiscal year 2025, Masonglory Limited Ordinary Shares (MSGY) reported total revenue of $23.3M. This represents a 193.2% increase compared to $8.0M in 2023.
Masonglory Limited Ordinary Shares (MSGY) is profitable, generating $1.3M in net income for the fiscal year ending 2025 with a net profit margin of 5.5%.
Masonglory Limited Ordinary Shares (MSGY) reported an operating income of $1.5M, resulting in an operating profit margin of 6.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Masonglory Limited Ordinary Shares (MSGY) generated $2.2M in gross profit for the year, representing a gross profit margin of 9.3%. This demonstrates the company's core pricing power and production efficiency.