H 
214.00
+16.94%
Close of 9 Nov 2026, in ZAc
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in ZAR, from our data supplier.
Net income
ZAR 28.5m
FY2017FY2026
Free cash flow
−ZAR 28.1m
FY2017FY2026
Shareholders' equity
ZAR 1.63bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | ZAR 52.4m | ZAR 8.7m | −ZAR 25.7m | ZAR 33.6m | ZAR 7.0m | ZAR 245.5m | ZAR 308.2m | ZAR 235.8m | ZAR 224.5m | ZAR 118.6m |
| Research and development | — | — | — | — | — | ZAR 2.0m | ZAR 1.8m | ZAR 1.2m | ZAR 7,915 | ZAR 2.0m |
| Operating income | ZAR 86.8m | −ZAR 4.7m | −ZAR 51.2m | ZAR 102.5m | ZAR 557.5m | ZAR 65.9m | ZAR 134.8m | ZAR 122.0m | ZAR 113.0m | ZAR 42.2m |
| Net income | ZAR 28.5m | −ZAR 61.5m | ZAR 35.4m | ZAR 80.2m | ZAR 517.6m | ZAR 38.6m | ZAR 95.0m | ZAR 93.6m | ZAR 76.8m | ZAR 26.6m |
| Diluted earnings per share | 0.17 | -0.33 | 0.19 | 0.43 | 2.99 | 0.22 | 0.57 | 0.56 | 0.46 | 0.14 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 1.97bn | ZAR 1.93bn | ZAR 2.00bn | ZAR 1.84bn | ZAR 1.70bn | ZAR 1.26bn | ZAR 1.20bn | ZAR 1.10bn | ZAR 936.5m | ZAR 439.4m |
| Cash and short-term investments | ZAR 5.9m | ZAR 1.8m | ZAR 93.4m | ZAR 1.6m | ZAR 1.4m | ZAR 29.5m | ZAR 40.2m | ZAR 24.0m | ZAR 30.3m | ZAR 71.0m |
| Total liabilities | ZAR 342.5m | ZAR 332.2m | ZAR 336.5m | ZAR 209.5m | ZAR 151.1m | ZAR 293.8m | ZAR 320.9m | ZAR 260.5m | ZAR 192.0m | ZAR 62.6m |
| Debt | ZAR 304.4m | ZAR 330.5m | ZAR 305.3m | ZAR 186.5m | ZAR 122.3m | ZAR 180.4m | ZAR 213.1m | ZAR 180.9m | ZAR 84.1m | ZAR 9.6m |
| Shareholders' equity | ZAR 1.63bn | ZAR 1.60bn | ZAR 1.66bn | ZAR 1.63bn | ZAR 1.55bn | ZAR 1.01bn | ZAR 941.4m | ZAR 831.6m | ZAR 747.5m | ZAR 379.8m |
| Shares outstanding | 173m | 188m | 188m | 188m | 173m | 172m | 166m | 166m | 166m | 187m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −ZAR 28.0m | ZAR 14.5m | ZAR 1.4m | −ZAR 25.3m | ZAR 11.3m | ZAR 56.5m | ZAR 95.8m | ZAR 74.2m | ZAR 66.6m | ZAR 24.4m |
| Capital spending | −ZAR 112,000 | −ZAR 59,000 | −ZAR 57,012 | −ZAR 289,848 | −ZAR 70,877 | −ZAR 33.6m | −ZAR 76.7m | −ZAR 115.1m | −ZAR 101.8m | −ZAR 24.8m |
| Free cash flow | −ZAR 28.1m | ZAR 14.5m | ZAR 1.3m | −ZAR 25.5m | ZAR 11.2m | ZAR 22.9m | ZAR 19.1m | −ZAR 40.9m | −ZAR 35.3m | −ZAR 379,285 |
| Dividends paid | — | — | — | — | — | −ZAR 11.8m | −ZAR 30.9m | −ZAR 729,000 | −ZAR 30.9m | −ZAR 30.9m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Nov 2023 | Aug 2023 | May 2023 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | ZAR 17.7m | ZAR 34.7m | ZAR 27.5m | ZAR 29.0m | −ZAR 29.0m | −ZAR 29.0m | ZAR 3.3m | ZAR 1.6m |
| Operating income | ZAR 29.5m | ZAR 57.3m | −ZAR 110.6m | ZAR 19.6m | −ZAR 44.3m | −ZAR 44.3m | −ZAR 6.9m | −ZAR 3.5m |
| Net income | −ZAR 6.3m | ZAR 34.8m | −ZAR 95.0m | ZAR 33.4m | ZAR 7.0m | ZAR 7.0m | ZAR 28.4m | ZAR 14.2m |
| Diluted earnings per share | -0.04 | 0.19 | -0.51 | 0.18 | 0.04 | 0.04 | 0.15 | 0.08 |
| Cash from operations | −ZAR 20.0m | −ZAR 7.0m | ZAR 10.0m | ZAR 3.0m | −ZAR 6.0m | −ZAR 6.0m | — | ZAR 3.0m |
| Total assets | ZAR 1.97bn | ZAR 1.99bn | ZAR 1.93bn | ZAR 2.09bn | ZAR 2.00bn | ZAR 2.00bn | ZAR 1.84bn | ZAR 1.84bn |
| Cash and short-term investments | ZAR 5.9m | ZAR 5.7m | ZAR 1.8m | ZAR 49.6m | ZAR 93.4m | ZAR 93.4m | ZAR 1.4m | ZAR 1.4m |
| Debt | ZAR 331.7m | ZAR 332.1m | ZAR 330.5m | ZAR 331.2m | ZAR 305.3m | ZAR 5.3m | ZAR 166.5m | ZAR 47.3m |
| Shareholders' equity | ZAR 1.63bn | ZAR 1.64bn | ZAR 1.60bn | ZAR 1.70bn | ZAR 1.66bn | ZAR 1.66bn | ZAR 1.66bn | ZAR 1.66bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.0% | -35.5% | -13.2% |
| Operating income | -5.4% | 5.7% | 14.2% |
| Net income | -29.2% | -5.9% | 4.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 61.1% | 35.8% | 48.0% | 52.8% |
| Operating margin | 82.1% | 69.2% | 113.0% | 48.5% |
| Net margin | -33.1% | 42.8% | 95.4% | 38.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.8 | -4.6 | 11.1 | 4.7 | 0.9 | 15.8 | 8.7 | 9.7 | 17.4 | 66.0 |
| Price to sales | 5.9 | 5.9 | 6.7 | 11.1 | 69.5 | 1.3 | 1.7 | 2.1 | 3.3 | 7.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Dec 2019.
| FY2020 | FY2016 | FY2009 | |
|---|---|---|---|
| Paid in the year | 0.188 | 0.08 | 0.112 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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