CSML Group PTE Limited's FY26 revenue reached Rs 3.768 crore

CSML Group PTE Limited, referred to as CSML Singapore, reported Rs 3.768 crore of total revenue for the year ended March 31, 2026, compared with nil in its initial period ended March 31, 2025. Complete Sports and Management India Limited acquired all 100 shares in CSML Singapore from promoter Rohit Rajesh Mathur on March 4, 2025 without a formal acquisition agreement.

How was CSML Singapore acquired from a promoter?

CSML Singapore became a wholly owned foreign subsidiary of Complete Sports through the March 4, 2025 transfer of 100 equity shares from Rohit Rajesh Mathur, identified as a current promoter. The 100 shares represented 100.00% of CSML Singapore's paid-up share capital, and each share was valued at SGD 1. The prospectus states that no formal agreement was executed regarding the acquisition of these shares.

CSML Singapore had been incorporated on January 7, 2025, less than two months before the share transfer, as a private company limited by shares under Singapore's Companies Act 1967. Its issued, subscribed and paid-up capital was SGD 100, comprising 100 shares of SGD 1 each. As of the prospectus date, Complete Sports held all 100 shares and CSML Singapore was its only wholly owned foreign subsidiary.

The disclosed method differs from another promoter-linked investment by Complete Sports. The company acquired 3,060 shares, representing 30.60% of Synccit Solutions Private Limited's paid-up capital, under a share purchase agreement dated March 27, 2023; that transaction was completed on May 28, 2026 at Rs 7,500 per share. CSML Singapore's March 2025 acquisition, by contrast, is disclosed as a promoter-facilitated share transfer without a formal agreement.

What did CSML Singapore report in FY26?

CSML Singapore reported Rs 3.768 crore of total revenue and Rs 23.20 lakh of profit after tax for the year ended March 31, 2026. Its previous reporting period, ended March 31, 2025, recorded nil revenue and a loss after tax of Rs 7,000 because the company was incorporated only on January 7, 2025.

The comparison shows the change from an initial partial period to the first full reported financial year. Net worth was Rs 23.26 lakh at March 31, 2026, compared with a marginal negative amount at March 31, 2025, while share capital remained Rs 6,000 in both periods. Total borrowings were nil at both dates.

Basic and diluted earnings per share were Rs 23,199.58 for the year ended March 31, 2026, against a loss per share of Rs 0.01 in the initial period. This per-share figure is calculated over CSML Singapore's 100 issued shares, rather than over a larger equity base. Net asset value per equity share was Rs 23,264.75 at March 31, 2026, compared with a marginal negative amount at March 31, 2025.

What business supports CSML Singapore's FY26 revenue?

CSML Singapore is engaged in the wholesale of sporting and other recreational goods and wholesale trade of a variety of goods without a dominant product. The company is also described as a strategic operational and distribution hub for Complete Sports, facilitating procurement coordination, logistics management and cross-border business operations.

The Singapore hub sits alongside Complete Sports' disclosed distribution arrangements. In 2025, Complete Sports entered into a distributorship agreement with Brunswick Bowling Products LLC for Singapore, Indonesia and Malaysia. The source does not attribute a specified part of CSML Singapore's Rs 3.768 crore revenue to Brunswick or to any individual geography, customer or product category.

CSML Singapore's reported revenue role therefore depends on the continuation of the procurement, logistics and distribution activities it coordinates. Its registered office is at 60 Paya Lebar Road, Paya Lebar Square, Singapore, and its stated wholesale activities provide the operating category disclosed for the Singapore entity. The prospectus does not disclose a separate consumer-facing outlet operated by CSML Singapore.

Does CSML Singapore overlap with Complete Sports' operations?

CSML Singapore undertakes activities that overlap with certain aspects of Complete Sports' business, according to the prospectus. The stated overlap concerns procurement coordination, logistics management and cross-border distribution, which position CSML Singapore as an operating hub rather than solely as an investment holding entity.

The prospectus identifies potential conflicts of interest because the subsidiary and certain group companies are authorised to conduct businesses similar to aspects of Complete Sports' business. It says overlapping activities and common shareholding and management could adversely affect business, financial condition, results of operations and cash flows. This is a disclosed risk, not a finding that a conflict has occurred.

The common-management point is identifiable in the disclosed directorships. Rohit Rajesh Mathur is Chairman and Managing Director of Complete Sports and one of CSML Singapore's two directors; the other director is Tyna Danny Dcruz. Complete Sports says related-party transactions with CSML Singapore are covered in its restated standalone financial information, but the supplied disclosure does not quantify those transactions.

How concentrated is the disclosed overseas subsidiary structure?

CSML Singapore accounts for all of Complete Sports' disclosed wholly owned foreign subsidiary structure because it is the company's only wholly owned foreign subsidiary as of the prospectus date. Complete Sports holds 100.00% of CSML Singapore's 100 shares, compared with a 30.60% stake in associate Synccit Solutions Private Limited.

The two investee entities have different stated business activities. CSML Singapore reported Rs 3.768 crore of revenue in the year ended March 31, 2026 from recreational-goods wholesale and cross-border operations, while Synccit Solutions Private Limited is engaged in software development and technology solutions. Synccit Solutions Private Limited has 10,000 issued shares, of which Complete Sports owns 3,060.

CSML Singapore is not listed on an Indian or overseas stock exchange, according to the prospectus. Its audited financial highlights are consequently disclosed through Complete Sports' prospectus rather than through a separate listed-company reporting record. The subsidiary also reported no accumulated profits or losses that had not been accounted for by Complete Sports.

Conclusion

CSML Singapore moved from nil revenue in its incorporation-period accounts to Rs 3.768 crore of revenue and Rs 23.20 lakh of profit after tax in the year ended March 31, 2026. The result followed Complete Sports' acquisition of the subsidiary's entire 100-share capital from a promoter without a formal agreement and establishes the Singapore entity as the group's only wholly owned foreign subsidiary.

The disclosed item to watch is whether CSML Singapore continues to support cross-border procurement, logistics and distribution, including activity connected with the 2025 Brunswick Bowling Products LLC territory agreement for Singapore, Indonesia and Malaysia. The unresolved disclosure issue is the prospectus-identified possibility of conflicts arising from overlapping activities and common shareholding and management; the supplied information does not quantify related-party transactions or allocate CSML Singapore's revenue by customer or territory.