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Star Africa

SACL.ZW · Zimbabwe Stock Exchange · Consolidated statements

On this page
Company details
Legal name
Star Africa Corporation Limited
Listing
SACL.ZW on the Zimbabwe Stock Exchange, active · ISIN ZW0009011991 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 March

Overview

Year ended 31 March 2026 · annual report, signed / final · source

Read with these figures

  • Qualified audit opinion. FY to 31 Mar 2026: Basis: Non-compliance with International Accounting Standard (IAS) 21 - The Effects of Changes in Foreign Exchange Rates; Financial results of equity accounted investment included in the financial statements not audited (PDF p48, p49). Details below.
Full wording and sources

  • Auditor's report, year to 2026-03-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. The auditor (Grant Thornton, Zimbabwe) gave a qualified opinion on Star Africa Corporation Limited's Group and Company financial statements for the year ended 31 March 2026. Except for two matters, the auditor found they present fairly. First, the change of functional currency from ZWG to USD was applied a year late, contrary to IAS 21; this affects comparison with the prior year, and the auditor could not audit USD 3 040 575 reported as effects of the change. Second, the associate Tongaat Hulett (Botswana) was not audited, so its share of profit, translation differences and carrying amount could not be verified. Figures are shown as published. (auditor's report, PDF p48, p49; verified on the page images 2026-10-08)

    Source: Star Africa Corporation Limited Annual Report 2026, p48 (dated 2026-06-30)

  • Revenue

    USD 58.1 million

    58,123,604 USD units · p57

    Change not shown.

  • Operating profit / (loss)

    USD 1.10 million

    1,097,200 USD units · p57

    Change not shown.

  • Profit / (loss) for the year

    USD 1.45 million

    1,446,441 USD units · p57

    Change not shown.

  • Total assets

    USD 36.5 million

    36,472,596 USD units · p55

    Change not shown.

  • Total equity

    USD 13.3 million

    13,273,810 USD units · p55

    Change not shown.

  • Cash from operations

    −USD 351,667

    (351,667) USD units · p61

    Change not shown.

Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

No change rate is shown: the auditor's qualified opinion covers the comparability of the current and prior-year figures (IAS 21), so year-on-year change rates would rest on figures the auditor qualified.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 31 Mar 2026 — annual report, signed / final; reported for the year · source
  • FY to 31 Mar 2025 — annual report, signed / final; comparative in the FY to 31 Mar 2026 filing · source

Income statement

Income statement, USD units. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Revenue from contracts with customers1 57,734,340 63,523,630
Rental income2 389,264 356,225
Revenue 58,123,604 63,879,855
Cost of sales (47,489,222) (51,191,190)
Gross profit 10,634,382 12,688,665
Other income 1,020,796 450,756
Fair value (loss)/gain on investment property3 (1,666,113) 3,155,118
Selling and distribution expenses (1,357,531) (1,133,600)
Administrative expenses (8,180,915) (9,418,657)
Allowance for expected credit loss (144,489) (320,964)
Exchange gains/(losses) 791,070 (8,402,103)
Operating profit/(loss) 1,097,200 (2,980,785)4
Finance costs (452,111) (540,229)
Finance income 248 36
Monetary loss5 –6 (1,413,039)
Share of profit of an associate 655,422 337,411
Profit/(loss) before income tax 1,300,759 (4,596,606)
Income tax credit/(expense) 145,682 (237,154)
Profit/(loss) for the year 1,446,441 (4,833,760)
Total other comprehensive (loss)/income (3,688,742) 5,171,479
Total comprehensive (loss)/income for the year (2,242,301) 337,719
Non-controlling interests7 (140,184) 279,952
  1. Printed “(2 980 785”; read as (2980785). p57: Printed '(2 980 785' with no closing parenthesis (text layer and page image p57); read as the bracketed (negative) amount, the same digits with the group spaces removed.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (5)
  1. “Revenue from contracts with customers” is an issuer-specific line, not mapped to a shared definition: Note 3.1; part of printed 'Revenue' with rental income.
  2. “Rental income” is an issuer-specific line, not mapped to a shared definition: Note 3.2; part of printed 'Revenue'.
  3. “Fair value (loss)/gain on investment property” is an issuer-specific line, not mapped to a shared definition: Note 13; within operating profit.
  4. “Monetary loss” is an issuer-specific line, not mapped to a shared definition: Net monetary loss from hyperinflation accounting (IAS 29), comparative year only.
  5. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 14.3.

Balance sheet

Balance sheet, USD units. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Property, plant and equipment 11,785,815 14,113,115
Investment property 6,529,000 7,772,113
Investment in an associate 2,450,778 1,904,002
Non-current assets 20,765,593 23,789,230
Inventories 4,443,586 4,531,997
Trade and other receivables 8,962,361 2,937,910
Prepayments and deposits1 609,419 324,060
Cash and bank balances 1,691,637 130,986
Current assets 15,707,003 7,924,953
Total assets 36,472,596 31,714,183
Share capital 54,536 54,536
Share premium 6,550,831 6,550,831
Foreign currency translation and other reserves 678,448 3,827,669
Revaluation reserve 6,485,170 7,024,691
Accumulated losses (1,020,269) (2,606,894)
Equity attributable to equity holders of the parent (subtotal) 12,748,716 14,850,833
Non-controlling interest 525,094 665,278
Total equity 13,273,810 15,516,111
Long-term portion of loans and borrowings 4,228,910 –2
Deferred tax liability 1,032,150 2,537,574
Non-current liabilities (subtotal) 5,261,060 2,537,574
Trade and other payables 15,317,125 10,815,264
Short-term portion of loans and borrowings 523,963 11
Bank overdraft 2,067,886 2,740,906
Income tax payable 28,752 104,317
Total current liabilities 17,937,726 13,660,498
Total liabilities 23,198,786 16,198,072
Total equity and liabilities 36,472,596 31,714,183
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (1)
  1. “Prepayments and deposits” is an issuer-specific line, not mapped to a shared definition: Note 16.1 (current).

Cash flow

Cash flow, USD units. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Cash generated from operations 188,987 3,969,954
Finance costs paid1 (452,111) (540,229)
Taxation paid (88,543) (166,512)
Net cash flows (utilised in)/generated from operating activities (351,667) 3,263,213
Acquisition of property, plant and equipment (437,500) (471,518)
Proceeds on disposal of property, plant and equipment 69,846 5,419
Finance income received2 248 36
Dividends received from associate3 –4 175,294
Net cash flows utilised in investing activities (367,406) (290,769)
Loans received 5,486,317 –5
Loans paid (733,456) –5
Net cash flows utilised in financing activities 4,752,861 –6
Increase in cash and cash equivalents 4,033,788 2,972,444
Cash and cash equivalents at the beginning of the year (2,609,920) (1,196,254)
Net exchange differences (1,800,117) (3,083,626)
Effects of inflation7 –8 (1,302,484)
Cash and cash equivalents at the end of the year (376,249) (2,609,920)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
  4. Printed “-”; reading unresolved, so no amount is shown. 2026 cell prints a dash: no hyperinflation adjustment in the USD year (the comparative inflation effect belongs to the ZWG presentation); no printed subtotal covers this reconciling line, so the dash is left unresolved.
Notes and alternative reported figures (4)
  1. “Finance costs paid”: mapping to a shared definition is uncertain. One line for finance costs paid; the statement does not say whether it includes lease interest.
  2. “Finance income received” is an issuer-specific line, not mapped to a shared definition: Note 17.2; presented in investing activities.
  3. “Dividends received from associate” is an issuer-specific line, not mapped to a shared definition: Note 14.1; investing activities.
  4. “Effects of inflation” is an issuer-specific line, not mapped to a shared definition: Effect of hyperinflation restatement on cash (comparative only).

Per share and shares

Per share and shares. Columns: FY to 31 Mar 2026 — annual report (signed / final), as reported for the year; FY to 31 Mar 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 31 Mar 2026Annual reportreported for the yearFY to 31 Mar 2025Annual reportcomparative in FY to 31 Mar 2026 filing
Earnings / (loss) per share (per share)3 0.00031 (0.0011)2
Profit / (loss) attributable to shareholders (USD units)4 1,586,625 (5,113,712)
  1. Printed as 0.03 cents; value converted to USD at 100 cents = 1 USD.
  2. Printed as (0.11) cents; value converted to USD at 100 cents = 1 USD.
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “Basic earnings/(loss) per ordinary share (cents)”.
  2. Profit / (loss) attributable to shareholders: printed as “Equity holders of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Star Africa Corporation Limited Annual Report 2026

    Year ended 31 March 2026 · Annual report · signed / final

    Audit: Grant Thornton (Zimbabwe), qualified opinion · signed

    Auditor's sign-off: Grant Thornton, Trevor Mungwazi, Partner, Registered Public Auditor (PAAB No: 0622)

    Final status: Independent auditor's report on the Group and Company financial statements (pages 55 to 121) with a handwritten Grant Thornton signature over the engagement partner's name (Trevor Mungwazi, PAAB 0622), Harare, dated by hand '27 June 2026' (PDF p54, page image; qualified opinion on PDF p48). Financial statements approved by the board and signed (handwritten signatures) by the Chairman and the CEO on 30 June 2026 (PDF p44, page image). The auditor's report date (27 June) precedes the printed board approval date (30 June) as printed.

    Document date
    30 Jun 2026
    Auditor's report
    27 Jun 2026
    Board approval
    30 Jun 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 31 Mar 2026, FY to 31 Mar 2025
    Basis
    consolidated statements · USD units (printed “USD”)
    • the auditor's qualified opinion covers the comparability of the current and prior-year figures (IAS 21), so year-on-year change rates would rest on figures the auditor qualified.
    • The auditor (Grant Thornton, Zimbabwe) gave a qualified opinion on Star Africa Corporation Limited's Group and Company financial statements for the year ended 31 March 2026. Except for two matters, the auditor found they present fairly. First, the change of functional currency from ZWG to USD was applied a year late, contrary to IAS 21; this affects comparison with the prior year, and the auditor could not audit USD 3 040 575 reported as effects of the change. Second, the associate Tongaat Hulett (Botswana) was not audited, so its share of profit, translation differences and carrying amount could not be verified. Figures are shown as published. (auditor's report, PDF p48, p49; verified on the page images 2026-10-08)
    • Basis: Non-compliance with International Accounting Standard (IAS) 21 - The Effects of Changes in Foreign Exchange Rates; Financial results of equity accounted investment included in the financial statements not audited (PDF p48, p49).
    • Qualified opinion (PDF pp48-49): (1) non-compliance with IAS 21 — the functional currency changed from ZWG to USD in the prior year but ZWG continued to be used until 1 April 2025; the USD 3 040 575 'effects of change in functional currency' in OCI could not be audited, and comparability with the prior year is affected; (2) the associate Tongaat Hulett (Botswana) (Proprietary) Limited's financial statements were not audited (share of profit, translation differences and the investment).
    • The comparative operating loss on p57 is printed '(2 980 785' without a closing parenthesis.
    • The directors' responsibility statement (p44) says the statements 'have been inflation adjusted' and were 'not prepared in conformity with IFRS', while the auditor's opinion (p48) is a qualified IFRS opinion and the 2026 statements are in USD without inflation adjustment.
    • Comparative cash reconciliation (p61) includes 'Effects of inflation' (1 302 484) (native concept) between opening and closing cash; the standard closing-cash check omits that line, so it computes -1 307 436 against the printed -2 609 920; the printed figures reconcile once the inflation line is included.
    • Comparatives (31 March 2025) were presented in inflation-adjusted ZWG and are translated to USD at the interbank spot rate on 1 April 2025 (footnotes, pp55, 57, 61); the comparative monetary loss and 'effects of inflation' lines come from that hyperinflation-adjusted presentation.
    • Earnings per share is printed in cents (basic and diluted 0.03; 2025: (0.11); headline 0.05; 2025: 0.03; p57).
    Technical details
    File
    128 pages, with a text layer
    SHA-256
    5dbd59614babeca5adf05b33dfef6bb802b0533308bb2a1ab668c46d7e372d8b
    Entity as printed
    Star Africa Corporation Limited and its subsidiaries (the Group and Company)
    Issuer copy
    retrieved 2026-10-08T20:39:57Z

Data notes

  • Operating profit/(loss) — Printed '(2 980 785'; read as '(2980785)'. Printed '(2 980 785' with no closing parenthesis (text layer and page image p57); read as the bracketed (negative) amount, the same digits with the group spaces removed. (Star Africa Corporation Limited Annual Report 2026, p57)

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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