The company achieved 43.16% year-over-year revenue growth, yet this is undermined by a structural gross margin of only 8.71% and a deeply negative operating margin of -37.18%.
| Metric | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 |
|---|
| Sales/Revenue | 19.28M | 13.46M | 11.14M | 10.48M | 1.53M |
| Revenue Growth % | 43.16% | 20.83% | 6.3% | 582.98% | - |
| Cost of Goods Sold | 17.6M | 10.7M | 8.97M | 7.52M | 1.36M |
| COGS % of Revenue | 91.29% | 79.44% | 80.45% | 71.76% | 88.8% |
| Gross Profit | 1.68M | 2.77M | 2.18M | 2.96M | 171.94K |
| Gross Margin % | 8.71% | 20.56% | 19.55% | 28.24% | 11.2% |
| Gross Profit Growth % | -39.33% | 27.11% | -26.42% | 1621.68% | - |
| Operating Expenses | 8.85M | 1.34M | 1.19M | 694.12K | 143.52K |
| OpEx % of Revenue | 45.89% | 9.93% | 10.67% | 6.62% | 9.35% |
| Selling, General & Admin | 8.03M | 1.21M | 695.63K | 554.16K | 122.24K |
| SG&A % of Revenue | 41.68% | 8.97% | 6.24% | 5.29% | 7.96% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 812.38K | 128.54K | 493.08K | 139.96K | 21.28K |
| Operating Income | -7.17M | 1.43M | 989.33K | 2.27M | 28.42K |
| Operating Margin % | -37.18% | 10.64% | 8.88% | 21.62% | 1.85% |
| Operating Income Growth % | -600.37% | 44.77% | -56.34% | 7874.07% | - |
| EBITDA | -5.47M | 2.89M | 2.13M | 2.85M | 59.87K |
| EBITDA Margin % | -28.38% | 21.46% | 19.11% | 27.21% | 3.9% |
| EBITDA Growth % | -289.36% | 35.65% | -25.35% | 4665.08% | - |
| D&A (Non-Cash Add-back) | 1.7M | 1.46M | 1.14M | 586.83K | 31.45K |
| EBIT | -6.88M | 1.55M | 1.58M | 2.47M | 48.39K |
| Net Interest Income | -224.41K | -210.71K | -190.56K | -115.98K | -7.78K |
| Interest Income | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 224.41K | 210.71K | 190.56K | 115.98K | 7.78K |
| Other Income/Expense | 65.92K | -94.32K | 397.57K | 85.27K | 12.19K |
| Pretax Income | -7.1M | 1.34M | 1.39M | 2.35M | 40.61K |
| Pretax Margin % | -36.84% | 9.94% | 12.45% | 22.43% | 2.65% |
| Income Tax | -119.29K | 246.61K | 219.64K | 357.73K | 6.7K |
| Effective Tax Rate % | 1.68% | 18.43% | 15.84% | 15.21% | 16.5% |
| Net Income | -6.98M | 1.09M | 1.17M | 1.99M | 33.91K |
| Net Margin % | -36.22% | 8.1% | 10.48% | 19.02% | 2.21% |
| Net Income Growth % | -739.71% | -6.51% | -41.45% | 5779.8% | - |
| Net Income (Continuing) | -6.98M | 1.09M | 1.17M | 1.99M | 33.91K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.00 | 0.05 | 0.05 | 0.08 | 0.00 |
| EPS Growth % | -100% | -6.38% | -41.52% | - | - |
| EPS (Basic) | 0.00 | 0.05 | 0.05 | 0.08 | 0.00 |
| Diluted Shares Outstanding | 0 | 24M | 24M | 24M | 24M |
| Basic Shares Outstanding | 0 | 24M | 24M | 24M | 24M |
| Dividend Payout Ratio | - | - | - | - | - |
Liquidity and solvency risk
According to recent financial disclosures, ZDAI achieved a notable 43.16% year-over-year revenue growth, yet this rapid top-line expansion appears disconnected from operational efficiency, as the company continues to struggle with deep losses that suggest a high-volume, low-margin business model that is currently failing to scale.
The aggressive revenue growth likely reflects a strategy of capturing market share in the competitive Hong Kong construction sector through high-volume, low-margin diesel trading and transportation services. Investors should monitor whether this growth is sustainable or if it represents an over-extension of resources that may lead to further margin compression.
As reported in financial statements, the company maintains a structural gross margin of 8.71%, which highlights the firm's role as a low-value-add coordinator rather than a specialized engineering provider, leaving little room for error in a high-cost environment where diesel and labor expenses dominate the cost structure.
The thin gross margin suggests that ZDAI lacks significant pricing power and is highly susceptible to fluctuations in fuel costs and subcontractor fees. This narrow margin profile implies that any minor increase in operational costs could lead to further deterioration of the bottom line, warranting caution regarding the company's long-term viability.
Based on reported figures, the company's operating margin of -37.18% indicates that administrative overhead and expansion-related costs are scaling significantly faster than gross profit, suggesting that the current business model is not yet achieving the necessary operational leverage to reach a break-even point in the near term.
The negative operating margin suggests that the company's cost structure is heavily weighted toward fixed overheads that are not being adequately covered by current project-level profitability. This trend may indicate that the firm is over-investing in capacity relative to its current ability to generate sustainable operating income.
Financial data reveals a precarious cash position of only $455,953 against $19M in annual revenue, which, as noted in recent filings, suggests a significant liquidity mismatch that may force the company to seek dilutive financing or face severe operational constraints in the coming fiscal periods.
The extremely low cash-to-revenue ratio raises serious questions about the company's ability to manage working capital requirements and meet short-term obligations. Analysts should consider the possibility that the reported revenue may not be translating into cash inflows, potentially masking a deeper liquidity crisis that is not immediately apparent on the surface.
Quick answers to the most common questions about buying ZDAI stock.
For fiscal year 2025, DirectBooking Technology Co., Ltd. (ZDAI) reported total revenue of $19.3M. This represents a 1155.8% increase compared to $1.5M in 2021.
DirectBooking Technology Co., Ltd. (ZDAI) reported a net loss of $7.0M for the fiscal year ending 2025.
DirectBooking Technology Co., Ltd. (ZDAI) reported an operating income of $-7.2M, resulting in an operating profit margin of -37.2%. This margin reflects the operational efficiency of the business before interest and taxes.
DirectBooking Technology Co., Ltd. (ZDAI) generated $1.7M in gross profit for the year, representing a gross profit margin of 8.7%. This demonstrates the company's core pricing power and production efficiency.