KHEOBA Ltd

Profitable foreign micro-cap (IT) with elite reported margins, but speculative and concentrated.

Strengths

• Highly profitable (reported) — operating margin 41% (97th), net margin 37% (97th), ROA 46% (100th)

Risks

• Speculative foreign micro-cap — per 10-K
• Earnings-volatility/concentration risk — net income growth -1354%
• Foreign-issuer governance/disclosure risk — per 10-K

Notable findings

• Customer concentration~66% of revenue from one customer/distributor — A substantial portion of our revenue is derived from a small number of customers, with the largest customer accounting for approximately 31% of total revenue, and top 3 clients representing 66% of ove