Income Tax Expenses (Tables)

12 Months Ended

Mar. 31, 2025

Current tax expense (income) and adjustments for current tax of prior periods [abstract]

Summary of Amounts Recognized in Profit or Loss

i)Amounts recognized in profit or loss

	Successor		Successor			Predecessor		Predecessor
	For the year ended March 31, 2025		For the period June 16, 2023 through March 31, 2024			For the period April 1 through June 15, 2023		For the year ended March 31, 2023
	US$’000		US$’000			US$’000		US$’000
Current Tax Expense
Current period		12,118		7,382			657		4,873
Under provision in respect of prior year		902		133			—		—
Deferred tax expense
Origination and reversal of temporary difference		169		1,198			—		4,317
Over provision in respect of prior year		—		(1,289	)		—		—
Income tax expenses		13,189		7,424			657		9,190

Summary of Reconciliation of Effective Tax Rate

ii)Reconciliation of effective tax rate

	Successor						Successor						Predecessor						Predecessor
	For the year ended March 31, 2025						For the period June 16, 2023 through March 31, 2024						For the period April 1 through June 15, 2023						For the year ended March 31, 2023
	%			US$’000			%			US$’000			%			US$’000			%			US$’000
Profit before tax					60,166						89,512						3,032						21,612
Computed tax expense with Singapore    statutory tax rate		17.00	%		10,228			17.00	%		15,218			17.00	%		515			17.00	%		3,674
Impact of different tax rate in other    jurisdiction*		3.67	%		2,209			(7.67	)%		(6,865	)		3.59	%		109			2.49	%		539
Tax effect of unrecognized loss		—			—			—			—			—			—			0.02	%		5
Tax adjustment of previous years		1.50	%		902			(1.29	)%		(1,156	)		—			—			(1.06	)%		(229	)
Income not subject to tax		(0.30	)%		(179	)		(0.20	)%		(181	)		—			—			(12.59	)%		(2,721	)
Non-deductible expenses		0.17	%		101			0.52	%		468			1.45	%		44			33.64	%		7,271
Deferred tax assets not recognized		(0.01	)%		(6	)		0.02	%		17			—			—			—			—
Others		(0.11	)%		(66	)		(0.09	)%		(77	)		(0.36	)%		(11	)		—			—
Tax effect on change in valuation    allowance		—			—			—			—			—			—			3.01	%		651
Income tax expenses		21.92	%		13,189			8.29	%		7,424			21.68	%		657			42.51	%		9,190

* The tax effect of the bargain purchase gain of $49.4 million recognized for the successor period from June 16, 2023 through March 31, 2024, which was effectively nil as the gain was taxable at 0% tax rate under the Cayman Islands, is recognized under the “impact of different tax rate in other jurisdictions”.

Summary of Deferred Tax Assets and Liabilities

iii)Deferred tax assets and liabilities

	Successor		Successor
	As of March 31, 2025		As of March 31, 2024
	US$’000		US$’000
Deferred tax assets
Property, plant and equipment		457		949
Provisions		70		48
Employee benefits		526		660
Inventories		416		310
Lease liabilities		1,367		607
Other items		102		—
Deferred tax assets		2,938		2,574
Deferred tax liabilities
Right-of-use assets		1,526		794
Revaluation of assets in connection to MBO		2,484		2,683
Other items		207		207
Deferred tax liabilities		4,217		3,684

Summary of Movement In Deferred Tax Balances.

iv)Movement in deferred tax balances

	Movement in deferred tax liabilities			Movement in deferred tax assets
	US$’000			US$’000
Successor
Balance at June 16, 2023		4,432			3,237
Recognized in profit or loss		(775	)		(603	)
Effect of movement in exchange rates		27			(60	)
Balance at March 31, 2024		3,684			2,574
Recognized in profit or loss		533			364
Balance at March 31, 2025		4,217			2,938

	Movement in deferred tax liabilities			Movement in deferred tax assets
	US$’000			US$’000
Predecessor
Balance at April 1, 2022		2,342			9,027
Recognized in profit or loss		(1,081	)		(4,735	)
Deferred tax asset allowances		—			(1,031	)
Effect of movements in exchange rates		(10	)		(24	)
Balance at March 31, 2023, April 1, 2023 and June 15, 2023		1,251			3,237