Medinex OTX
Financials
Annual Report 2026
Auditor’s opinion: a true and fair view. Read auditor’s report (PDF p. 47)
Explore the statements
23 tablesGroup consolidated profit or loss and other comprehensive income
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group / year ended 31 March 2026 | 2025Group / year ended 31 March 2025 | Source |
|---|---|---|---|
| income | |||
| RevenueSingapore dollars | 12,413,611 | 12,813,313 | PDF p. 50 |
| Other items of income | |||
| Other incomeSingapore dollars | 1,083,683 | 308,885 | PDF p. 50 |
| Reversal of loss allowance on receivablesSingapore dollars | 67,741 | 139,499 | PDF p. 50 |
| Items of expense | |||
| Changes in inventoriesSingapore dollars | (26,551) | (19,760) | PDF p. 50 |
| Other items of income | |||
| Inventories and consumablesSingapore dollars | (2,431,145) | (2,865,350) | PDF p. 50 |
| Employee benefits expenseSingapore dollars | (5,273,376) | (5,201,776) | PDF p. 50 |
| Depreciation and amortisation expensesSingapore dollars | (531,698) | (552,913) | PDF p. 50 |
| Loss allowance on receivablesSingapore dollars | (80,310) | (114,924) | PDF p. 50 |
| Impairment loss on goodwillSingapore dollars | (1,595,995) | (260,452) | PDF p. 50 |
| Other expensesSingapore dollars | (1,305,471) | (1,285,322) | PDF p. 50 |
| Finance costsSingapore dollars | (40,735) | (46,247) | PDF p. 50 |
| Share of results of joint ventures, net of taxSingapore dollars | 140,980 | 68,322 | PDF p. 50 |
| Profit before income taxSingapore dollars | 2,420,734 | 2,983,275 | PDF p. 50 |
| Income tax expenseSingapore dollars | (195,320) | (150,641) | PDF p. 50 |
| PROFIT FOR THE YEARSingapore dollars | 2,225,414 | 2,832,634 | PDF p. 50 |
| Items that will or may be reclassified subsequently to profit or loss | |||
| Currency translation differencesSingapore dollars | (2,998) | (2,409) | PDF p. 50 |
| Other comprehensive loss for the year, net of taxSingapore dollars | (2,998) | (2,409) | PDF p. 50 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEARSingapore dollars | 2,222,416 | 2,830,225 | PDF p. 50 |
| Profit attributable to: | |||
| Owners of the CompanySingapore dollars | 2,224,491 | 2,834,746 | PDF p. 50 |
| Non-controlling interestsSingapore dollars | 923 | (2,112) | PDF p. 50 |
| Profit for the yearSingapore dollars | 2,225,414 | 2,832,634 | PDF p. 50 |
| Total comprehensive income attributable to: | |||
| Owners of the CompanySingapore dollars | 2,221,493 | 2,832,337 | PDF p. 50 |
| Non-controlling interestsSingapore dollars | 923 | (2,112) | PDF p. 50 |
| Total comprehensive income for the yearSingapore dollars | 2,222,416 | 2,830,225 | PDF p. 50 |
| Earnings per share attributable to owners of the Company (cents per share) | |||
| Basic earnings per shareSingapore cents per share | 1.67 | 2.14 | PDF p. 50 |
| Diluted earnings per shareSingapore cents per share | 1.67 | 2.10 | PDF p. 50 |
Definitions & sources
Original report: PDF p. 50 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group / as at 31 March 2026 | 2025Group / as at 31 March 2025 | Source |
|---|---|---|---|
| Non-current assets | |||
| Plant and equipmentSingapore dollars | 153,668 | 49,329 | PDF p. 51 |
| Right-of-use assetsSingapore dollars | 749,194 | 809,137 | PDF p. 51 |
| Intangible assetsSingapore dollars | 6,746,802 | 8,504,331 | PDF p. 51 |
| Investments in subsidiariesSingapore dollars | – | – | PDF p. 51 |
| Investments in joint venturesSingapore dollars | 604,904 | 463,924 | PDF p. 51 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 2,722,286 | 2,483,341 | PDF p. 51 |
| Other receivablesSingapore dollars | – | 69,923 | PDF p. 51 |
| Total non-current assetsSingapore dollars | 10,976,854 | 12,379,985 | PDF p. 51 |
| Current assets | |||
| InventoriesSingapore dollars | 335,383 | 364,830 | PDF p. 51 |
| Trade and other receivablesSingapore dollars | 2,454,706 | 2,271,484 | PDF p. 51 |
| Contract assetsSingapore dollars | 59,593 | 21,745 | PDF p. 51 |
| PrepaymentsSingapore dollars | 117,907 | 96,787 | PDF p. 51 |
| Fixed depositSingapore dollars | 2,000,000 | 2,079,433 | PDF p. 51 |
| Cash and bank balancesSingapore dollars | 3,523,738 | 3,476,051 | PDF p. 51 |
| Total current assetsSingapore dollars | 8,491,327 | 8,310,330 | PDF p. 51 |
| Total assetsSingapore dollars | 19,468,181 | 20,690,315 | PDF p. 51 |
| Equity | |||
| Share capitalSingapore dollars | 14,988,167 | 14,571,317 | PDF p. 52 |
| Other reservesSingapore dollars | (1,950,309) | (1,348,381) | PDF p. 52 |
| Currency translation reserveSingapore dollars | (22,063) | (19,065) | PDF p. 52 |
| Retained earningsSingapore dollars | 3,503,184 | 3,516,630 | PDF p. 52 |
| Equity attributable to owners of the CompanySingapore dollars | 16,518,979 | 16,720,501 | PDF p. 52 |
| Non-controlling interestsSingapore dollars | – | 6,703 | PDF p. 52 |
| Total equitySingapore dollars | 16,518,979 | 16,727,204 | PDF p. 52 |
| Non-current liabilities | |||
| Trade and other payablesSingapore dollars | – | – | PDF p. 52 |
| Lease liabilitiesSingapore dollars | 485,038 | 460,833 | PDF p. 52 |
| Bank borrowingsSingapore dollars | – | 261,796 | PDF p. 52 |
| Deferred tax liabilitiesSingapore dollars | – | 3,681 | PDF p. 52 |
| ProvisionsSingapore dollars | 35,948 | 31,524 | PDF p. 52 |
| Total non-current liabilitiesSingapore dollars | 520,986 | 757,834 | PDF p. 52 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars | 1,218,621 | 1,532,007 | PDF p. 52 |
| Contract liabilitiesSingapore dollars | 506,334 | 488,082 | PDF p. 52 |
| Lease liabilitiesSingapore dollars | 248,936 | 431,455 | PDF p. 52 |
| Bank borrowingsSingapore dollars | 261,732 | 515,862 | PDF p. 52 |
| Current income tax payableSingapore dollars | 192,593 | 237,871 | PDF p. 52 |
| Total current liabilitiesSingapore dollars | 2,428,216 | 3,205,277 | PDF p. 52 |
| Total liabilitiesSingapore dollars | 2,949,202 | 3,963,111 | PDF p. 52 |
| Total equity and liabilitiesSingapore dollars | 19,468,181 | 20,690,315 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 51 ↗ PDF p. 52 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Company statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company / as at 31 March 2026 | 2025Company / as at 31 March 2025 | Source |
|---|---|---|---|
| Non-current assets | |||
| Plant and equipmentSingapore dollars | 10,200 | 7,887 | PDF p. 51 |
| Right-of-use assetsSingapore dollars | – | – | PDF p. 51 |
| Intangible assetsSingapore dollars | – | – | PDF p. 51 |
| Investments in subsidiariesSingapore dollars | 10,959,562 | 12,167,056 | PDF p. 51 |
| Investments in joint venturesSingapore dollars | 182,000 | 182,000 | PDF p. 51 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 2,721,506 | 2,482,561 | PDF p. 51 |
| Other receivablesSingapore dollars | – | – | PDF p. 51 |
| Total non-current assetsSingapore dollars | 13,873,268 | 14,839,504 | PDF p. 51 |
| Current assets | |||
| InventoriesSingapore dollars | – | – | PDF p. 51 |
| Trade and other receivablesSingapore dollars | 1,266,680 | 1,047,563 | PDF p. 51 |
| Contract assetsSingapore dollars | – | – | PDF p. 51 |
| PrepaymentsSingapore dollars | 96,588 | 78,782 | PDF p. 51 |
| Fixed depositSingapore dollars | 2,000,000 | 2,079,433 | PDF p. 51 |
| Cash and bank balancesSingapore dollars | 1,317,816 | 1,026,692 | PDF p. 51 |
| Total current assetsSingapore dollars | 4,681,084 | 4,232,470 | PDF p. 51 |
| Total assetsSingapore dollars | 18,554,352 | 19,071,974 | PDF p. 51 |
| Equity | |||
| Share capitalSingapore dollars | 14,988,167 | 14,571,317 | PDF p. 52 |
| Other reservesSingapore dollars | (1,928) | 600,000 | PDF p. 52 |
| Currency translation reserveSingapore dollars | – | – | PDF p. 52 |
| Retained earningsSingapore dollars | 2,851,482 | 2,560,793 | PDF p. 52 |
| Equity attributable to owners of the CompanySingapore dollars | 17,837,721 | 17,732,110 | PDF p. 52 |
| Non-controlling interestsSingapore dollars | – | – | PDF p. 52 |
| Total equitySingapore dollars | 17,837,721 | 17,732,110 | PDF p. 52 |
| Non-current liabilities | |||
| Trade and other payablesSingapore dollars | – | 218,335 | PDF p. 52 |
| Lease liabilitiesSingapore dollars | – | – | PDF p. 52 |
| Bank borrowingsSingapore dollars | – | – | PDF p. 52 |
| Deferred tax liabilitiesSingapore dollars | – | – | PDF p. 52 |
| ProvisionsSingapore dollars | – | – | PDF p. 52 |
| Total non-current liabilitiesSingapore dollars | – | 218,335 | PDF p. 52 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars | 674,377 | 1,083,747 | PDF p. 52 |
| Contract liabilitiesSingapore dollars | – | – | PDF p. 52 |
| Lease liabilitiesSingapore dollars | – | – | PDF p. 52 |
| Bank borrowingsSingapore dollars | – | – | PDF p. 52 |
| Current income tax payableSingapore dollars | 42,254 | 37,782 | PDF p. 52 |
| Total current liabilitiesSingapore dollars | 716,631 | 1,121,529 | PDF p. 52 |
| Total liabilitiesSingapore dollars | 716,631 | 1,339,864 | PDF p. 52 |
| Total equity and liabilitiesSingapore dollars | 18,554,352 | 19,071,974 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 51 ↗ PDF p. 52 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group changes in equity / 2026
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group / Share capital | 2026Group / Other reserves | 2026Group / Currency translation reserve | 2026Group / Retained earnings | 2026Group / Equity attributable to owners of the Company | 2026Group / Non-controlling interests | 2026Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| equity | ||||||||
| Balance at 1 April 2025Singapore dollars | 14,571,317 | (1,348,381) | (19,065) | 3,516,630 | 16,720,501 | 6,703 | 16,727,204 | PDF p. 53 |
| Profit for the financial yearSingapore dollars | – | – | – | 2,224,491 | 2,224,491 | 923 | 2,225,414 | PDF p. 53 |
| Currency translation differences | ||||||||
| - foreign operationSingapore dollars | – | – | (2,998) | – | (2,998) | – | (2,998) | PDF p. 53 |
| equity | ||||||||
| Total comprehensive income/ (loss) for the financial yearSingapore dollars | – | – | (2,998) | 2,224,491 | 2,221,493 | 923 | 2,222,416 | PDF p. 53 |
| Effect of disposal of a subsidiarySingapore dollars | – | – | – | – | – | (45) | (45) | PDF p. 53 |
| Settlement of deferred share considerationSingapore dollars | 416,850 | (601,928) | – | – | (185,078) | – | (185,078) | PDF p. 53 |
| Dividends paidSingapore dollars | – | – | – | (2,237,937) | (2,237,937) | (7,581) | (2,245,518) | PDF p. 53 |
| Balance at 31 March 2026Singapore dollars | 14,988,167 | (1,950,309) | (22,063) | 3,503,184 | 16,518,979 | – | 16,518,979 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group changes in equity / 2025
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Share capital | 2025Group / Other reserves | 2025Group / Currency translation reserve | 2025Group / Retained earnings | 2025Group / Equity attributable to owners of the Company | 2025Group / Non-controlling interests | 2025Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| equity | ||||||||
| Balance at 1 April 2024Singapore dollars | 14,571,317 | (1,348,381) | (16,656) | 2,911,096 | 16,117,376 | 39,527 | 16,156,903 | PDF p. 53 |
| Profit for the financial yearSingapore dollars | – | – | – | 2,834,746 | 2,834,746 | (2,112) | 2,832,634 | PDF p. 53 |
| Currency translation differences | ||||||||
| - foreign operationSingapore dollars | – | – | (2,409) | – | (2,409) | – | (2,409) | PDF p. 53 |
| equity | ||||||||
| Total comprehensive income/ (loss) for the financial yearSingapore dollars | – | – | (2,409) | 2,834,746 | 2,832,337 | (2,112) | 2,830,225 | PDF p. 53 |
| Effect of liquidation of a subsidiarySingapore dollars | – | – | – | – | – | (7,100) | (7,100) | PDF p. 53 |
| Dividends paidSingapore dollars | – | – | – | (2,229,212) | (2,229,212) | (23,612) | (2,252,824) | PDF p. 53 |
| Balance at 31 March 2025Singapore dollars | 14,571,317 | (1,348,381) | (19,065) | 3,516,630 | 16,720,501 | 6,703 | 16,727,204 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated cash flows
50 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group / year ended 31 March 2026 | 2025Group / year ended 31 March 2025 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before income taxSingapore dollars | 2,420,734 | 2,983,275 | PDF p. 54 |
| Adjustments for: | |||
| Amortisation of intangible assetsSingapore dollars | 75,501 | 76,300 | PDF p. 54 |
| Depreciation of plant and equipmentSingapore dollars | 40,744 | 85,783 | PDF p. 54 |
| Depreciation of right-of-use assetsSingapore dollars | 415,453 | 390,830 | PDF p. 54 |
| Loss allowance on receivablesSingapore dollars | 80,310 | 114,924 | PDF p. 54 |
| Bad debts written offSingapore dollars | – | 49,118 | PDF p. 54 |
| Gain on termination of leaseSingapore dollars | (4,759) | – | PDF p. 54 |
| Reversal of provision for reinstatement no longer requiredSingapore dollars | (6,600) | – | PDF p. 54 |
| Reversal of loss allowance on receivablesSingapore dollars | (67,741) | (139,499) | PDF p. 54 |
| Recovery of bad debtsSingapore dollars | (9,862) | – | PDF p. 54 |
| Fair value gain on financial assets at FVTPLSingapore dollars | (585,745) | (14,890) | PDF p. 54 |
| Gain on disposal of financial assets at FVTPLSingapore dollars | (184,500) | – | PDF p. 54 |
| Gain on disposal of investment in subsidiarySingapore dollars | (17,180) | – | PDF p. 54 |
| Gain on disposal of plant and equipmentSingapore dollars | (5,000) | – | PDF p. 54 |
| Gain on liquidation of a subsidiarySingapore dollars | – | (7,100) | PDF p. 54 |
| Interest incomeSingapore dollars | (52,520) | (72,902) | PDF p. 54 |
| Interest expenseSingapore dollars | 40,735 | 46,247 | PDF p. 54 |
| Impairment loss on goodwillSingapore dollars | 1,595,995 | 260,452 | PDF p. 54 |
| Loss on intangible assets written offSingapore dollars | 3,268 | – | PDF p. 54 |
| Dividend income from financial assets at FVTPLSingapore dollars | (164,123) | (124,213) | PDF p. 54 |
| Share of results of joint venture, net of taxSingapore dollars | (140,980) | (68,322) | PDF p. 54 |
| Operating cash flows before movements in working capitalSingapore dollars | 3,433,730 | 3,580,003 | PDF p. 54 |
| Changes in working capital: | |||
| InventoriesSingapore dollars | 26,551 | 19,760 | PDF p. 54 |
| Trade and other receivablesSingapore dollars | (212,318) | (169,787) | PDF p. 54 |
| Contract asset and contract liabilitiesSingapore dollars | (19,596) | (894) | PDF p. 54 |
| PrepaymentsSingapore dollars | (22,823) | 32,069 | PDF p. 54 |
| Trade and other payablesSingapore dollars | (253,396) | 8,318 | PDF p. 54 |
| Cash generated from operationsSingapore dollars | 2,952,148 | 3,469,469 | PDF p. 54 |
| Income taxes paidSingapore dollars | (244,279) | (120,665) | PDF p. 54 |
| Net cash generated from operating activitiesSingapore dollars | 2,707,869 | 3,348,804 | PDF p. 54 |
| Investing activities | |||
| Purchase of plant and equipmentSingapore dollars | (158,010) | (22,618) | PDF p. 55 |
| Proceed from disposal of plant and equipmentSingapore dollars | 5,000 | – | PDF p. 55 |
| Net cash and cash equivalents from disposal of a subsidiarySingapore dollars | 78,211 | – | PDF p. 55 |
| Interest receivedSingapore dollars | 49,640 | 79,433 | PDF p. 55 |
| Dividend income from joint ventureSingapore dollars | – | 62,421 | PDF p. 55 |
| Dividend income from financial assets at FVTPLSingapore dollars | 164,123 | 124,213 | PDF p. 55 |
| Proceed from disposal of financial assets at FVTPLSingapore dollars | 531,300 | – | PDF p. 55 |
| Net cash generated from investing activitiesSingapore dollars | 670,264 | 243,449 | PDF p. 55 |
| Financing activities | |||
| Repayment of bank borrowingsSingapore dollars | (515,926) | (505,655) | PDF p. 55 |
| Repayment of principal portion of lease liabilitiesSingapore dollars | (419,449) | (399,301) | PDF p. 55 |
| Repayment of interest portion of lease liabilitiesSingapore dollars | (30,821) | (26,062) | PDF p. 55 |
| Purchase of treasury sharesSingapore dollars | (185,078) | – | PDF p. 55 |
| Dividends paid to owners of the parentSingapore dollars | (2,237,937) | (2,229,212) | PDF p. 55 |
| Dividends paid to non-controlling interestsSingapore dollars | (7,581) | (23,612) | PDF p. 55 |
| Interest paidSingapore dollars | (9,914) | (20,185) | PDF p. 55 |
| Net cash used in financing activitiesSingapore dollars | (3,406,706) | (3,204,027) | PDF p. 55 |
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars | (28,573) | 388,226 | PDF p. 55 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars | (3,173) | (2,292) | PDF p. 55 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars | 5,555,484 | 5,169,550 | PDF p. 55 |
| Cash and cash equivalents at end of financial yearSingapore dollars | 5,523,738 | 5,555,484 | PDF p. 55 |
Definitions & sources
Original report: PDF p. 54 ↗ PDF p. 55 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated profit or loss and other comprehensive income
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / year ended 31 March 2024 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars | 12,584,505 | PDF p. 46 |
| Other items of income | ||
| Other incomeSingapore dollars | 538,405 | PDF p. 46 |
| Reversal of loss allowance on receivablesSingapore dollars | 109,690 | PDF p. 46 |
| Items of expense | ||
| Changes in inventoriesSingapore dollars | (183,458) | PDF p. 46 |
| Other items of income | ||
| Inventories and consumablesSingapore dollars | (2,724,397) | PDF p. 46 |
| Employee benefits expenseSingapore dollars | (5,346,053) | PDF p. 46 |
| Depreciation and amortisation expensesSingapore dollars | (723,080) | PDF p. 46 |
| Loss allowance on receivablesSingapore dollars | (63,943) | PDF p. 46 |
| Other expensesSingapore dollars | (3,294,695) | PDF p. 46 |
| Finance costsSingapore dollars | (55,173) | PDF p. 46 |
| Share of results of joint ventures, net of taxSingapore dollars | 174,331 | PDF p. 46 |
| Profit before income taxSingapore dollars | 1,016,132 | PDF p. 46 |
| Income tax expenseSingapore dollars | (148,930) | PDF p. 46 |
| PROFIT FOR THE YEARSingapore dollars | 867,202 | PDF p. 46 |
| Items that will or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differencesSingapore dollars | (4,159) | PDF p. 46 |
| Other comprehensive loss for the year, net of taxSingapore dollars | (4,159) | PDF p. 46 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEARSingapore dollars | 863,043 | PDF p. 46 |
| Profit attributable to: | ||
| Owners of the CompanySingapore dollars | 1,033,267 | PDF p. 46 |
| Non-controlling interestsSingapore dollars | (166,065) | PDF p. 46 |
| Profit for the yearSingapore dollars | 867,202 | PDF p. 46 |
| Total comprehensive income attributable to: | ||
| Owners of the CompanySingapore dollars | 1,029,108 | PDF p. 46 |
| Non-controlling interestsSingapore dollars | (166,065) | PDF p. 46 |
| Total comprehensive income for the yearSingapore dollars | 863,043 | PDF p. 46 |
| Earnings per share attributable to owners of the Company (cents per share) | ||
| Basic earnings per shareSingapore cents per share | 0.78 | PDF p. 46 |
| Diluted earnings per shareSingapore cents per share | 0.77 | PDF p. 46 |
Definitions & sources
Original report: PDF p. 46 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / as at 31 March 2024 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 112,559 | PDF p. 47 |
| Right-of-use assetsSingapore dollars | 709,086 | PDF p. 47 |
| Intangible assetsSingapore dollars | 8,841,083 | PDF p. 47 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 47 |
| Investments in joint venturesSingapore dollars | 458,023 | PDF p. 47 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 2,468,451 | PDF p. 47 |
| Other receivablesSingapore dollars | 109,483 | PDF p. 47 |
| Total non-current assetsSingapore dollars | 12,698,685 | PDF p. 47 |
| Current assets | ||
| InventoriesSingapore dollars | 384,590 | PDF p. 47 |
| Trade and other receivablesSingapore dollars | 2,093,211 | PDF p. 47 |
| Contract assetsSingapore dollars | 23,580 | PDF p. 47 |
| PrepaymentsSingapore dollars | 128,856 | PDF p. 47 |
| Fixed depositSingapore dollars | 2,000,000 | PDF p. 47 |
| Cash and bank balancesSingapore dollars | 3,169,550 | PDF p. 47 |
| Total current assetsSingapore dollars | 7,799,787 | PDF p. 47 |
| Total assetsSingapore dollars | 20,498,472 | PDF p. 47 |
| Equity | ||
| Share capitalSingapore dollars | 14,571,317 | PDF p. 48 |
| Other reservesSingapore dollars | (1,348,381) | PDF p. 48 |
| Foreign currency translation reserveSingapore dollars | (16,656) | PDF p. 48 |
| Retained earningsSingapore dollars | 2,911,096 | PDF p. 48 |
| Equity attributable to owners of the CompanySingapore dollars | 16,117,376 | PDF p. 48 |
| Non-controlling interestsSingapore dollars | 39,527 | PDF p. 48 |
| Total equitySingapore dollars | 16,156,903 | PDF p. 48 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | – | PDF p. 48 |
| Lease liabilitiesSingapore dollars | 473,880 | PDF p. 48 |
| Bank borrowingsSingapore dollars | 777,658 | PDF p. 48 |
| Deferred tax liabilitiesSingapore dollars | 24,057 | PDF p. 48 |
| ProvisionsSingapore dollars | 31,524 | PDF p. 48 |
| Total non-current liabilitiesSingapore dollars | 1,307,119 | PDF p. 48 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,523,689 | PDF p. 48 |
| Contract liabilitiesSingapore dollars | 490,811 | PDF p. 48 |
| Lease liabilitiesSingapore dollars | 326,776 | PDF p. 48 |
| Bank borrowingsSingapore dollars | 505,655 | PDF p. 48 |
| Current income tax payableSingapore dollars | 187,519 | PDF p. 48 |
| Total current liabilitiesSingapore dollars | 3,034,450 | PDF p. 48 |
| Total liabilitiesSingapore dollars | 4,341,569 | PDF p. 48 |
| Total equity and liabilitiesSingapore dollars | 20,498,472 | PDF p. 48 |
Definitions & sources
Original report: PDF p. 47 ↗ PDF p. 48 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Company statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / as at 31 March 2024 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 21,801 | PDF p. 47 |
| Right-of-use assetsSingapore dollars | – | PDF p. 47 |
| Intangible assetsSingapore dollars | – | PDF p. 47 |
| Investments in subsidiariesSingapore dollars | 12,167,056 | PDF p. 47 |
| Investments in joint venturesSingapore dollars | 182,000 | PDF p. 47 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 2,467,671 | PDF p. 47 |
| Other receivablesSingapore dollars | – | PDF p. 47 |
| Total non-current assetsSingapore dollars | 14,838,528 | PDF p. 47 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 47 |
| Trade and other receivablesSingapore dollars | 1,665,570 | PDF p. 47 |
| Contract assetsSingapore dollars | – | PDF p. 47 |
| PrepaymentsSingapore dollars | 110,854 | PDF p. 47 |
| Fixed depositSingapore dollars | 2,000,000 | PDF p. 47 |
| Cash and bank balancesSingapore dollars | 397,086 | PDF p. 47 |
| Total current assetsSingapore dollars | 4,173,510 | PDF p. 47 |
| Total assetsSingapore dollars | 19,012,038 | PDF p. 47 |
| Equity | ||
| Share capitalSingapore dollars | 14,571,317 | PDF p. 48 |
| Other reservesSingapore dollars | 600,000 | PDF p. 48 |
| Foreign currency translation reserveSingapore dollars | – | PDF p. 48 |
| Retained earningsSingapore dollars | 1,885,686 | PDF p. 48 |
| Equity attributable to owners of the CompanySingapore dollars | 17,057,003 | PDF p. 48 |
| Non-controlling interestsSingapore dollars | – | PDF p. 48 |
| Total equitySingapore dollars | 17,057,003 | PDF p. 48 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | 735,072 | PDF p. 48 |
| Lease liabilitiesSingapore dollars | – | PDF p. 48 |
| Bank borrowingsSingapore dollars | – | PDF p. 48 |
| Deferred tax liabilitiesSingapore dollars | – | PDF p. 48 |
| ProvisionsSingapore dollars | – | PDF p. 48 |
| Total non-current liabilitiesSingapore dollars | 735,072 | PDF p. 48 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,219,963 | PDF p. 48 |
| Contract liabilitiesSingapore dollars | – | PDF p. 48 |
| Lease liabilitiesSingapore dollars | – | PDF p. 48 |
| Bank borrowingsSingapore dollars | – | PDF p. 48 |
| Current income tax payableSingapore dollars | – | PDF p. 48 |
| Total current liabilitiesSingapore dollars | 1,219,963 | PDF p. 48 |
| Total liabilitiesSingapore dollars | 1,955,035 | PDF p. 48 |
| Total equity and liabilitiesSingapore dollars | 19,012,038 | PDF p. 48 |
Definitions & sources
Original report: PDF p. 47 ↗ PDF p. 48 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group changes in equity / 2024
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Share capital | 2024Group / Other reserves | 2024Group / Foreign currency translation reserve | 2024Group / Retained earnings | 2024Group / Equity attributable to owners of the Company | 2024Group / Non-controlling interests | 2024Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| equity | ||||||||
| Balance at 1 April 2023Singapore dollars | 14,571,317 | (1,348,381) | (12,497) | 4,359,153 | 17,569,592 | 212,981 | 17,782,573 | PDF p. 49 |
| Profit for the financial yearSingapore dollars | – | – | – | 1,033,267 | 1,033,267 | (166,065) | 867,202 | PDF p. 49 |
| Foreign currency translation differences | ||||||||
| - foreign operationSingapore dollars | – | – | (4,159) | – | (4,159) | – | (4,159) | PDF p. 49 |
| equity | ||||||||
| Total comprehensive income/ (loss) for the financial yearSingapore dollars | – | – | (4,159) | 1,033,267 | 1,029,108 | (166,065) | 863,043 | PDF p. 49 |
| Disposal of subsidiariesSingapore dollars | – | – | – | – | – | (7,389) | (7,389) | PDF p. 49 |
| DividendsSingapore dollars | – | – | – | (2,481,324) | (2,481,324) | – | (2,481,324) | PDF p. 49 |
| Balance at 31 March 2024Singapore dollars | 14,571,317 | (1,348,381) | (16,656) | 2,911,096 | 16,117,376 | 39,527 | 16,156,903 | PDF p. 49 |
Definitions & sources
Original report: PDF p. 49 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated cash flows
45 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / year ended 31 March 2024 | Source |
|---|---|---|
| Operating activities | ||
| Profit before income taxSingapore dollars | 1,016,132 | PDF p. 50 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars | 143,827 | PDF p. 50 |
| Depreciation of plant and equipmentSingapore dollars | 134,422 | PDF p. 50 |
| Depreciation of right-of-use assetsSingapore dollars | 444,831 | PDF p. 50 |
| Loss allowance on receivablesSingapore dollars | 63,943 | PDF p. 50 |
| Bad debts written offSingapore dollars | 108,648 | PDF p. 50 |
| Reversal of loss allowance on receivablesSingapore dollars | (109,690) | PDF p. 50 |
| Fair value (gain)/loss on financial assets at FVTPLSingapore dollars | 1,007,685 | PDF p. 50 |
| Gain on liquidation of a subsidiarySingapore dollars | – | PDF p. 50 |
| Interest incomeSingapore dollars | (53,697) | PDF p. 50 |
| Interest expenseSingapore dollars | 55,173 | PDF p. 50 |
| Impairment loss on goodwillSingapore dollars | – | PDF p. 50 |
| Loss on disposal of investments in subsidiariesSingapore dollars | 609,406 | PDF p. 50 |
| Dividend income from financial assets at FVTPLSingapore dollars | (149,420) | PDF p. 50 |
| Dividend income from a joint ventureSingapore dollars | (123,702) | PDF p. 50 |
| Provision for reinstatement cost no longer requiredSingapore dollars | (11,782) | PDF p. 50 |
| Share of results of joint venture, net of taxSingapore dollars | (174,331) | PDF p. 50 |
| Operating cash flows before movements in working capitalSingapore dollars | 2,961,445 | PDF p. 50 |
| Changes in working capital: | ||
| InventoriesSingapore dollars | 183,523 | PDF p. 50 |
| Trade and other receivablesSingapore dollars | (97,947) | PDF p. 50 |
| Contract asset and contract liabilitiesSingapore dollars | 36,322 | PDF p. 50 |
| PrepaymentsSingapore dollars | (529) | PDF p. 50 |
| Trade and other payablesSingapore dollars | 108 | PDF p. 50 |
| Cash generated from operationsSingapore dollars | 3,082,922 | PDF p. 50 |
| Income taxes paidSingapore dollars | (386,099) | PDF p. 50 |
| Net cash generated from operating activitiesSingapore dollars | 2,696,823 | PDF p. 50 |
| Investing activities | ||
| Purchase of plant and equipmentSingapore dollars | (30,531) | PDF p. 51 |
| Proceed from disposal of subsidiariesSingapore dollars | 80,000 | PDF p. 51 |
| Interest receivedSingapore dollars | 53,697 | PDF p. 51 |
| Dividend income from joint ventureSingapore dollars | 123,702 | PDF p. 51 |
| Dividend income from financial assets at FVTPLSingapore dollars | 149,420 | PDF p. 51 |
| Investment in financial assets at FVTPLSingapore dollars | (483,000) | PDF p. 51 |
| Proceed from disposal of financial assets at FVTPLSingapore dollars | 1,764,154 | PDF p. 51 |
| Net cash generated from investing activitiesSingapore dollars | 1,657,442 | PDF p. 51 |
| Financing activities | ||
| Repayment of bank borrowingsSingapore dollars | (495,580) | PDF p. 51 |
| Repayment of principal portion of lease liabilitiesSingapore dollars | (299,208) | PDF p. 51 |
| Repayment of interest portion of lease liabilitiesSingapore dollars | (24,913) | PDF p. 51 |
| Dividends paid to owners of the parentSingapore dollars | (2,481,324) | PDF p. 51 |
| Dividends paid to non-controlling interestsSingapore dollars | – | PDF p. 51 |
| Interest paidSingapore dollars | (30,260) | PDF p. 51 |
| Net cash used in financing activitiesSingapore dollars | (3,331,285) | PDF p. 51 |
| Net increase in cash and cash equivalentsSingapore dollars | 1,022,980 | PDF p. 51 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars | (4,964) | PDF p. 51 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars | 4,151,534 | PDF p. 51 |
| Cash and cash equivalents at end of financial yearSingapore dollars | 5,169,550 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 50 ↗ PDF p. 51 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated profit or loss and other comprehensive income
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 March 2023 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars | 12,965,457 | PDF p. 48 |
| Other items of income | ||
| Other incomeSingapore dollars | 615,281 | PDF p. 48 |
| Reversal of loss allowance on receivablesSingapore dollars | 425,466 | PDF p. 48 |
| Items of expense | ||
| Changes in inventoriesSingapore dollars | 84,488 | PDF p. 48 |
| Other items of income | ||
| Inventories and consumablesSingapore dollars | (3,566,709) | PDF p. 48 |
| Employee benefits expenseSingapore dollars | (5,267,663) | PDF p. 48 |
| Depreciation and amortisation expensesSingapore dollars | (771,457) | PDF p. 48 |
| Loss allowance on receivablesSingapore dollars | (306,094) | PDF p. 48 |
| Other expensesSingapore dollars | (2,144,365) | PDF p. 48 |
| Finance costsSingapore dollars | (66,524) | PDF p. 48 |
| Share of results of joint ventures, net of taxSingapore dollars | 76,119 | PDF p. 48 |
| Profit before income taxSingapore dollars | 2,043,999 | PDF p. 48 |
| Income tax expenseSingapore dollars | (353,992) | PDF p. 48 |
| PROFIT FOR THE YEARSingapore dollars | 1,690,007 | PDF p. 48 |
| Items that will or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differencesSingapore dollars | (6,181) | PDF p. 48 |
| Other comprehensive loss for the year, net of taxSingapore dollars | (6,181) | PDF p. 48 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEARSingapore dollars | 1,683,826 | PDF p. 48 |
| Profit attributable to: | ||
| Owners of the CompanySingapore dollars | 1,700,180 | PDF p. 48 |
| Non-controlling interestsSingapore dollars | (10,173) | PDF p. 48 |
| Profit for the yearSingapore dollars | 1,690,007 | PDF p. 48 |
| Total comprehensive income attributable to: | ||
| Owners of the CompanySingapore dollars | 1,693,999 | PDF p. 48 |
| Non-controlling interestsSingapore dollars | (10,173) | PDF p. 48 |
| Total comprehensive income for the yearSingapore dollars | 1,683,826 | PDF p. 48 |
| Earnings per share attributable to owners of the Company (cents per share) | ||
| Basic earnings per shareSingapore cents per share | 1.29 | PDF p. 48 |
| Diluted earnings per shareSingapore cents per share | 1.26 | PDF p. 48 |
Definitions & sources
Original report: PDF p. 48 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / as at 31 March 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 333,694 | PDF p. 49 |
| Right-of-use assetsSingapore dollars | 610,775 | PDF p. 49 |
| Intangible assetsSingapore dollars | 9,569,307 | PDF p. 49 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 49 |
| Investments in joint venturesSingapore dollars | 283,692 | PDF p. 49 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 4,757,290 | PDF p. 49 |
| Other receivablesSingapore dollars | – | PDF p. 49 |
| Total non-current assetsSingapore dollars | 15,554,758 | PDF p. 49 |
| Current assets | ||
| InventoriesSingapore dollars | 568,113 | PDF p. 49 |
| Trade and other receivablesSingapore dollars | 2,174,827 | PDF p. 49 |
| Contract assetsSingapore dollars | 17,325 | PDF p. 49 |
| PrepaymentsSingapore dollars | 128,327 | PDF p. 49 |
| Fixed depositSingapore dollars | 517,711 | PDF p. 49 |
| Cash and bank balancesSingapore dollars | 3,633,823 | PDF p. 49 |
| Total current assetsSingapore dollars | 7,040,126 | PDF p. 49 |
| Total assetsSingapore dollars | 22,594,884 | PDF p. 49 |
| Equity | ||
| Share capitalSingapore dollars | 14,571,317 | PDF p. 50 |
| Other reservesSingapore dollars | (1,348,381) | PDF p. 50 |
| Foreign currency translation reserveSingapore dollars | (12,497) | PDF p. 50 |
| Retained earningsSingapore dollars | 4,359,153 | PDF p. 50 |
| Equity attributable to owners of the CompanySingapore dollars | 17,569,592 | PDF p. 50 |
| Non-controlling interestsSingapore dollars | 212,981 | PDF p. 50 |
| Total equitySingapore dollars | 17,782,573 | PDF p. 50 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | – | PDF p. 50 |
| Lease liabilitiesSingapore dollars | 233,765 | PDF p. 50 |
| Bank borrowingsSingapore dollars | 1,283,313 | PDF p. 50 |
| Deferred tax liabilitiesSingapore dollars | 55,477 | PDF p. 50 |
| ProvisionsSingapore dollars | 43,306 | PDF p. 50 |
| Total non-current liabilitiesSingapore dollars | 1,615,861 | PDF p. 50 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,536,868 | PDF p. 50 |
| Contract liabilitiesSingapore dollars | 448,234 | PDF p. 50 |
| Lease liabilitiesSingapore dollars | 325,985 | PDF p. 50 |
| Bank borrowingsSingapore dollars | 495,580 | PDF p. 50 |
| Current income tax payableSingapore dollars | 389,783 | PDF p. 50 |
| Total current liabilitiesSingapore dollars | 3,196,450 | PDF p. 50 |
| Total liabilitiesSingapore dollars | 4,812,311 | PDF p. 50 |
| Total equity and liabilitiesSingapore dollars | 22,594,884 | PDF p. 50 |
Definitions & sources
Original report: PDF p. 49 ↗ PDF p. 50 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Company statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / as at 31 March 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 33,012 | PDF p. 49 |
| Right-of-use assetsSingapore dollars | – | PDF p. 49 |
| Intangible assetsSingapore dollars | – | PDF p. 49 |
| Investments in subsidiariesSingapore dollars | 13,596,577 | PDF p. 49 |
| Investments in joint venturesSingapore dollars | 194,725 | PDF p. 49 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 4,756,510 | PDF p. 49 |
| Other receivablesSingapore dollars | – | PDF p. 49 |
| Total non-current assetsSingapore dollars | 18,580,824 | PDF p. 49 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 49 |
| Trade and other receivablesSingapore dollars | 856,246 | PDF p. 49 |
| Contract assetsSingapore dollars | – | PDF p. 49 |
| PrepaymentsSingapore dollars | 86,104 | PDF p. 49 |
| Fixed depositSingapore dollars | – | PDF p. 49 |
| Cash and bank balancesSingapore dollars | 1,113,589 | PDF p. 49 |
| Total current assetsSingapore dollars | 2,055,939 | PDF p. 49 |
| Total assetsSingapore dollars | 20,636,763 | PDF p. 49 |
| Equity | ||
| Share capitalSingapore dollars | 14,571,317 | PDF p. 50 |
| Other reservesSingapore dollars | 600,000 | PDF p. 50 |
| Foreign currency translation reserveSingapore dollars | – | PDF p. 50 |
| Retained earningsSingapore dollars | 3,227,618 | PDF p. 50 |
| Equity attributable to owners of the CompanySingapore dollars | 18,398,935 | PDF p. 50 |
| Non-controlling interestsSingapore dollars | – | PDF p. 50 |
| Total equitySingapore dollars | 18,398,935 | PDF p. 50 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | 1,241,531 | PDF p. 50 |
| Lease liabilitiesSingapore dollars | – | PDF p. 50 |
| Bank borrowingsSingapore dollars | – | PDF p. 50 |
| Deferred tax liabilitiesSingapore dollars | – | PDF p. 50 |
| ProvisionsSingapore dollars | – | PDF p. 50 |
| Total non-current liabilitiesSingapore dollars | 1,241,531 | PDF p. 50 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 996,297 | PDF p. 50 |
| Contract liabilitiesSingapore dollars | – | PDF p. 50 |
| Lease liabilitiesSingapore dollars | – | PDF p. 50 |
| Bank borrowingsSingapore dollars | – | PDF p. 50 |
| Current income tax payableSingapore dollars | – | PDF p. 50 |
| Total current liabilitiesSingapore dollars | 996,297 | PDF p. 50 |
| Total liabilitiesSingapore dollars | 2,237,828 | PDF p. 50 |
| Total equity and liabilitiesSingapore dollars | 20,636,763 | PDF p. 50 |
Definitions & sources
Original report: PDF p. 49 ↗ PDF p. 50 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group changes in equity / 2023
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / Share capital | 2023Group / Other reserves | 2023Group / Foreign currency translation reserve | 2023Group / Retained earnings | 2023Group / Equity attributable to owners of the Company | 2023Group / Non-controlling interests | 2023Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| equity | ||||||||
| Balance at 1 April 2022Singapore dollars | 14,163,317 | (1,540,381) | (6,316) | 4,636,069 | 17,252,689 | 223,154 | 17,475,843 | PDF p. 51 |
| Profit for the financial yearSingapore dollars | – | – | – | 1,700,180 | 1,700,180 | (10,173) | 1,690,007 | PDF p. 51 |
| Foreign currency translation differences | ||||||||
| - foreign operationSingapore dollars | – | – | (6,181) | – | (6,181) | – | (6,181) | PDF p. 51 |
| equity | ||||||||
| Total comprehensive income/ (loss) for the financial yearSingapore dollars | – | – | (6,181) | 1,700,180 | 1,693,999 | (10,173) | 1,683,826 | PDF p. 51 |
| Distributions to owners | ||||||||
| Share-based paymentsSingapore dollars | 408,000 | 192,000 | – | – | 600,000 | – | 600,000 | PDF p. 51 |
| equity | ||||||||
| DividendsSingapore dollars | – | – | – | (1,977,096) | (1,977,096) | – | (1,977,096) | PDF p. 51 |
| Total transactions with ownersSingapore dollars | 408,000 | 192,000 | – | (1,977,096) | (1,377,096) | – | (1,377,096) | PDF p. 51 |
| Balance at 31 March 2023Singapore dollars | 14,571,317 | (1,348,381) | (12,497) | 4,359,153 | 17,569,592 | 212,981 | 17,782,573 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 51 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated cash flows
46 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 March 2023 | Source |
|---|---|---|
| Operating activities | ||
| Profit before income taxSingapore dollars | 2,043,999 | PDF p. 52 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars | 159,070 | PDF p. 52 |
| Depreciation of plant and equipmentSingapore dollars | 115,328 | PDF p. 52 |
| Depreciation of right-of-use assetsSingapore dollars | 497,059 | PDF p. 52 |
| Loss allowance on receivablesSingapore dollars | 306,094 | PDF p. 52 |
| Bad debts written offSingapore dollars | – | PDF p. 52 |
| Reversal of loss allowance on receivablesSingapore dollars | (425,466) | PDF p. 52 |
| Inventories written offSingapore dollars | 32,878 | PDF p. 52 |
| Fair value loss on financial assets at FVTPLSingapore dollars | 815,677 | PDF p. 52 |
| Interest incomeSingapore dollars | (5,555) | PDF p. 52 |
| Interest expenseSingapore dollars | 66,524 | PDF p. 52 |
| Loss on disposal of investments in subsidiariesSingapore dollars | – | PDF p. 52 |
| Gain on termination of leaseSingapore dollars | (17,734) | PDF p. 52 |
| Plant and equipment written offSingapore dollars | 108 | PDF p. 52 |
| Dividend income from financial assets at FVTPLSingapore dollars | (335,099) | PDF p. 52 |
| Dividend income from a joint ventureSingapore dollars | – | PDF p. 52 |
| Provision for reinstatement cost no longer requiredSingapore dollars | – | PDF p. 52 |
| Share of results of joint venture, net of taxSingapore dollars | (76,119) | PDF p. 52 |
| Operating cash flows before movements in working capitalSingapore dollars | 3,176,764 | PDF p. 52 |
| Changes in working capital: | ||
| InventoriesSingapore dollars | (117,367) | PDF p. 52 |
| Trade and other receivablesSingapore dollars | 182,648 | PDF p. 52 |
| Contract asset and contract liabilitiesSingapore dollars | 9,935 | PDF p. 52 |
| PrepaymentsSingapore dollars | 257,714 | PDF p. 52 |
| Trade and other payablesSingapore dollars | (37,290) | PDF p. 52 |
| Cash generated from operationsSingapore dollars | 3,472,404 | PDF p. 52 |
| Income taxes paidSingapore dollars | (444,659) | PDF p. 52 |
| Net cash generated from operating activitiesSingapore dollars | 3,027,745 | PDF p. 52 |
| Investing activities | ||
| Acquisition of a subsidiary, net of cash acquiredSingapore dollars | (2,334,386) | PDF p. 53 |
| Purchase of plant and equipmentSingapore dollars | (192,803) | PDF p. 53 |
| Proceed from disposal of subsidiariesSingapore dollars | – | PDF p. 53 |
| Interest receivedSingapore dollars | 5,555 | PDF p. 53 |
| Dividend income from joint ventureSingapore dollars | – | PDF p. 53 |
| Dividend income from financial assets at FVTPLSingapore dollars | 335,099 | PDF p. 53 |
| Investment in financial assets at FVTPLSingapore dollars | – | PDF p. 53 |
| Disposal of financial assets at FVTPLSingapore dollars | – | PDF p. 53 |
| Net cash generated from/(used in) investing activitiesSingapore dollars | (2,186,535) | PDF p. 53 |
| Financing activities | ||
| Repayment of bank borrowingsSingapore dollars | (496,014) | PDF p. 53 |
| Repayment of principal portion of lease liabilitiesSingapore dollars | (481,702) | PDF p. 53 |
| Repayment of interest portion of lease liabilitiesSingapore dollars | (26,107) | PDF p. 53 |
| Dividends paid to owners of the parentSingapore dollars | (1,977,096) | PDF p. 53 |
| Interest paidSingapore dollars | (40,417) | PDF p. 53 |
| Net cash used in financing activitiesSingapore dollars | (3,021,336) | PDF p. 53 |
| Net increase/(decrease) in cash and cash equivalentsSingapore dollars | (2,180,126) | PDF p. 53 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars | (7,520) | PDF p. 53 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars | 6,339,180 | PDF p. 53 |
| Cash and cash equivalents at end of financial yearSingapore dollars | 4,151,534 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 52 ↗ PDF p. 53 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated profit or loss and other comprehensive income
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 March 2022 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars | 11,993,311 | PDF p. 51 |
| Other items of income | ||
| Other incomeSingapore dollars | 1,618,573 | PDF p. 51 |
| Reversal of loss allowance on receivablesSingapore dollars | – | PDF p. 51 |
| Items of expense | ||
| Changes in inventoriesSingapore dollars | (77,922) | PDF p. 51 |
| Other items of income | ||
| Inventories and consumablesSingapore dollars | (3,348,178) | PDF p. 51 |
| Employee benefits expenseSingapore dollars | (4,489,568) | PDF p. 51 |
| Depreciation and amortisation expensesSingapore dollars | (650,189) | PDF p. 51 |
| Loss allowance on receivablesSingapore dollars | (231,232) | PDF p. 51 |
| Other expensesSingapore dollars | (1,459,816) | PDF p. 51 |
| Finance costsSingapore dollars | (86,263) | PDF p. 51 |
| Share of results of joint ventures, net of taxSingapore dollars | (2,399) | PDF p. 51 |
| Profit before income taxSingapore dollars | 3,266,317 | PDF p. 51 |
| Income tax expenseSingapore dollars | (370,404) | PDF p. 51 |
| PROFIT FOR THE YEARSingapore dollars | 2,895,913 | PDF p. 51 |
| Items that will or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differencesSingapore dollars | (7,428) | PDF p. 51 |
| Other comprehensive loss for the year, net of taxSingapore dollars | (7,428) | PDF p. 51 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEARSingapore dollars | 2,888,485 | PDF p. 51 |
| Profit attributable to: | ||
| Owners of the CompanySingapore dollars | 2,807,108 | PDF p. 51 |
| Non-controlling interestsSingapore dollars | 88,805 | PDF p. 51 |
| Profit for the yearSingapore dollars | 2,895,913 | PDF p. 51 |
| Total comprehensive income attributable to: | ||
| Owners of the CompanySingapore dollars | 2,799,680 | PDF p. 51 |
| Non-controlling interestsSingapore dollars | 88,805 | PDF p. 51 |
| Total comprehensive income for the yearSingapore dollars | 2,888,485 | PDF p. 51 |
| Earnings per share attributable to owners of the Company (cents per share) | ||
| Basic earnings per shareSingapore cents per share | 2.14 | PDF p. 51 |
| Diluted earnings per shareSingapore cents per share | 2.12 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 51 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / as at 31 March 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 256,327 | PDF p. 52 |
| Right-of-use assetsSingapore dollars | 865,195 | PDF p. 52 |
| Intangible assetsSingapore dollars | 6,685,745 | PDF p. 52 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 52 |
| Investments in joint venturesSingapore dollars | 207,573 | PDF p. 52 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 5,572,967 | PDF p. 52 |
| Other receivablesSingapore dollars | – | PDF p. 52 |
| Total non-current assetsSingapore dollars | 13,587,807 | PDF p. 52 |
| Current assets | ||
| InventoriesSingapore dollars | 483,624 | PDF p. 52 |
| Trade and other receivablesSingapore dollars | 2,120,778 | PDF p. 52 |
| Contract assetsSingapore dollars | 63,453 | PDF p. 52 |
| PrepaymentsSingapore dollars | 386,041 | PDF p. 52 |
| Fixed depositsSingapore dollars | 515,905 | PDF p. 52 |
| Cash and bank balancesSingapore dollars | 5,823,275 | PDF p. 52 |
| Total current assetsSingapore dollars | 9,393,076 | PDF p. 52 |
| Total assetsSingapore dollars | 22,980,883 | PDF p. 52 |
| Equity | ||
| Share capitalSingapore dollars | 14,163,317 | PDF p. 53 |
| Other reservesSingapore dollars | (1,540,381) | PDF p. 53 |
| Foreign currency translation reserveSingapore dollars | (6,316) | PDF p. 53 |
| Retained earningsSingapore dollars | 4,636,069 | PDF p. 53 |
| Equity attributable to owners of the CompanySingapore dollars | 17,252,689 | PDF p. 53 |
| Non-controlling interestsSingapore dollars | 223,154 | PDF p. 53 |
| Total equitySingapore dollars | 17,475,843 | PDF p. 53 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | – | PDF p. 53 |
| Lease liabilitiesSingapore dollars | 418,178 | PDF p. 53 |
| Bank borrowingsSingapore dollars | 1,778,894 | PDF p. 53 |
| Deferred tax liabilitiesSingapore dollars | 36,830 | PDF p. 53 |
| ProvisionsSingapore dollars | 31,524 | PDF p. 53 |
| Total non-current liabilitiesSingapore dollars | 2,265,426 | PDF p. 53 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,469,977 | PDF p. 53 |
| Contract liabilitiesSingapore dollars | 433,900 | PDF p. 53 |
| Lease liabilitiesSingapore dollars | 411,524 | PDF p. 53 |
| Bank borrowingsSingapore dollars | 496,013 | PDF p. 53 |
| Current income tax payableSingapore dollars | 428,200 | PDF p. 53 |
| Total current liabilitiesSingapore dollars | 3,239,614 | PDF p. 53 |
| Total liabilitiesSingapore dollars | 5,505,040 | PDF p. 53 |
| Total equity and liabilitiesSingapore dollars | 22,980,883 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 52 ↗ PDF p. 53 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Company statement of financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / as at 31 March 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 40,949 | PDF p. 52 |
| Right-of-use assetsSingapore dollars | – | PDF p. 52 |
| Intangible assetsSingapore dollars | – | PDF p. 52 |
| Investments in subsidiariesSingapore dollars | 10,596,577 | PDF p. 52 |
| Investments in joint venturesSingapore dollars | 194,725 | PDF p. 52 |
| Financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars | 5,572,187 | PDF p. 52 |
| Other receivablesSingapore dollars | – | PDF p. 52 |
| Total non-current assetsSingapore dollars | 16,404,438 | PDF p. 52 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 52 |
| Trade and other receivablesSingapore dollars | 207,254 | PDF p. 52 |
| Contract assetsSingapore dollars | – | PDF p. 52 |
| PrepaymentsSingapore dollars | 425,824 | PDF p. 52 |
| Fixed depositsSingapore dollars | – | PDF p. 52 |
| Cash and bank balancesSingapore dollars | 3,066,583 | PDF p. 52 |
| Total current assetsSingapore dollars | 3,699,661 | PDF p. 52 |
| Total assetsSingapore dollars | 20,104,099 | PDF p. 52 |
| Equity | ||
| Share capitalSingapore dollars | 14,163,317 | PDF p. 53 |
| Other reservesSingapore dollars | 408,000 | PDF p. 53 |
| Foreign currency translation reserveSingapore dollars | – | PDF p. 53 |
| Retained earningsSingapore dollars | 2,802,229 | PDF p. 53 |
| Equity attributable to owners of the CompanySingapore dollars | 17,373,546 | PDF p. 53 |
| Non-controlling interestsSingapore dollars | – | PDF p. 53 |
| Total equitySingapore dollars | 17,373,546 | PDF p. 53 |
| Non-current liabilities | ||
| Trade and other payablesSingapore dollars | 1,734,571 | PDF p. 53 |
| Lease liabilitiesSingapore dollars | – | PDF p. 53 |
| Bank borrowingsSingapore dollars | – | PDF p. 53 |
| Deferred tax liabilitiesSingapore dollars | – | PDF p. 53 |
| ProvisionsSingapore dollars | – | PDF p. 53 |
| Total non-current liabilitiesSingapore dollars | 1,734,571 | PDF p. 53 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 985,815 | PDF p. 53 |
| Contract liabilitiesSingapore dollars | – | PDF p. 53 |
| Lease liabilitiesSingapore dollars | – | PDF p. 53 |
| Bank borrowingsSingapore dollars | 10,167 | PDF p. 53 |
| Current income tax payableSingapore dollars | – | PDF p. 53 |
| Total current liabilitiesSingapore dollars | 995,982 | PDF p. 53 |
| Total liabilitiesSingapore dollars | 2,730,553 | PDF p. 53 |
| Total equity and liabilitiesSingapore dollars | 20,104,099 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 52 ↗ PDF p. 53 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group changes in equity / 2022
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / Share capital | 2022Group / Other reserves | 2022Group / Foreign currency translation reserve | 2022Group / Retained earnings | 2022Group / Equity attributable to owners of the Company | 2022Group / Non-controlling interests | 2022Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| equity | ||||||||
| Balance at 1 April 2021Singapore dollars | 14,163,317 | (1,540,381) | 1,112 | 4,033,248 | 16,657,296 | 269,349 | 16,926,645 | PDF p. 54 |
| Profit for the financial yearSingapore dollars | – | – | – | 2,807,108 | 2,807,108 | 88,805 | 2,895,913 | PDF p. 54 |
| Foreign currency translation differences | ||||||||
| - foreign operationSingapore dollars | – | – | (7,428) | – | (7,428) | – | (7,428) | PDF p. 54 |
| equity | ||||||||
| Total comprehensive income/ (loss) for the financial yearSingapore dollars | – | – | (7,428) | 2,807,108 | 2,799,680 | 88,805 | 2,888,485 | PDF p. 54 |
| Distributions to owners | ||||||||
| DividendsSingapore dollars | – | – | – | (2,204,287) | (2,204,287) | – | (2,204,287) | PDF p. 54 |
| equity | ||||||||
| Total transactions with ownersSingapore dollars | – | – | – | (2,204,287) | (2,204,287) | – | (2,204,287) | PDF p. 54 |
| Transaction with non-controlling interests | ||||||||
| Dividend paid to non-controlling interests in subsidiariesSingapore dollars | – | – | – | – | – | (135,000) | (135,000) | PDF p. 54 |
| equity | ||||||||
| Total transaction with non-controlling interestSingapore dollars | – | – | – | – | – | (135,000) | (135,000) | PDF p. 54 |
| Balance at 31 March 2022Singapore dollars | 14,163,317 | (1,540,381) | (6,316) | 4,636,069 | 17,252,689 | 223,154 | 17,475,843 | PDF p. 54 |
Definitions & sources
Original report: PDF p. 54 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Group consolidated cash flows
52 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 March 2022 | Source |
|---|---|---|
| Operating activities | ||
| Profit before income taxSingapore dollars | 3,266,317 | PDF p. 55 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars | 99,704 | PDF p. 55 |
| Depreciation of plant and equipmentSingapore dollars | 72,718 | PDF p. 55 |
| Depreciation of right-of-use assetsSingapore dollars | 477,767 | PDF p. 55 |
| Loss allowance on receivablesSingapore dollars | 231,232 | PDF p. 55 |
| Bad debts written offSingapore dollars | 2,617 | PDF p. 55 |
| Reversal of loss allowance on receivablesSingapore dollars | – | PDF p. 55 |
| Inventories written offSingapore dollars | – | PDF p. 55 |
| Fair value loss / (gain) on financial assets at FVTPLSingapore dollars | (387,446) | PDF p. 55 |
| Interest incomeSingapore dollars | (20,352) | PDF p. 55 |
| Interest expenseSingapore dollars | 86,263 | PDF p. 55 |
| Gain on termination of leaseSingapore dollars | – | PDF p. 55 |
| Loss on disposal of financial assets at FVTPLSingapore dollars | 34,425 | PDF p. 55 |
| Gain on derecognition of financial assetsSingapore dollars | (471,105) | PDF p. 55 |
| Plant and equipment written offSingapore dollars | 3,774 | PDF p. 55 |
| Impairment loss on joint ventureSingapore dollars | 90,894 | PDF p. 55 |
| Impairment loss on goodwillSingapore dollars | 339,000 | PDF p. 55 |
| Dividend income from financial assets at FVTPLSingapore dollars | (336,128) | PDF p. 55 |
| Provision for reinstatement cost no longer requiredSingapore dollars | (4,286) | PDF p. 55 |
| Share of results of joint venture, net of taxSingapore dollars | 2,399 | PDF p. 55 |
| Operating cash flows before movements in working capitalSingapore dollars | 3,487,793 | PDF p. 55 |
| Changes in working capital: | ||
| InventoriesSingapore dollars | 77,922 | PDF p. 55 |
| Trade and other receivablesSingapore dollars | (141,235) | PDF p. 55 |
| Contract asset and contract liabilitiesSingapore dollars | (73,796) | PDF p. 55 |
| PrepaymentsSingapore dollars | 7,371 | PDF p. 55 |
| Trade and other payablesSingapore dollars | (167,639) | PDF p. 55 |
| Cash generated from operationsSingapore dollars | 3,190,416 | PDF p. 55 |
| Income taxes paidSingapore dollars | (334,945) | PDF p. 55 |
| Net cash generated from operating activitiesSingapore dollars | 2,855,471 | PDF p. 55 |
| Investing activities | ||
| Acquisition of a subsidiary, net of cash acquiredSingapore dollars | – | PDF p. 56 |
| Advance payment for acquisition of a subsidiarySingapore dollars | (300,000) | PDF p. 56 |
| Purchase of plant and equipmentSingapore dollars | (203,406) | PDF p. 56 |
| Additions to intangible assetSingapore dollars | (26,549) | PDF p. 56 |
| Interest receivedSingapore dollars | 5,657 | PDF p. 56 |
| Dividend income from joint ventureSingapore dollars | 20,069 | PDF p. 56 |
| Dividend income from financial assets at FVTPLSingapore dollars | 336,128 | PDF p. 56 |
| Advances to a joint ventureSingapore dollars | (25,000) | PDF p. 56 |
| Investment in financial asset at FVTPLSingapore dollars | (680,000) | PDF p. 56 |
| Disposal of financial asset at FVTPLSingapore dollars | 856,190 | PDF p. 56 |
| Net cash used in investing activitiesSingapore dollars | (16,911) | PDF p. 56 |
| Financing activities | ||
| Proceeds from bank borrowingsSingapore dollars | 2,500,000 | PDF p. 56 |
| Repayment of bank borrowingsSingapore dollars | (2,735,261) | PDF p. 56 |
| Repayment of principal portion of lease liabilitiesSingapore dollars | (494,925) | PDF p. 56 |
| Repayment of interest portion of lease liabilitiesSingapore dollars | (29,393) | PDF p. 56 |
| Dividends paid to owners of the parentSingapore dollars | (2,204,287) | PDF p. 56 |
| Dividends paid to non-controlling interestsSingapore dollars | (135,000) | PDF p. 56 |
| Interest paidSingapore dollars | (56,870) | PDF p. 56 |
| Net cash used in financing activitiesSingapore dollars | (3,155,736) | PDF p. 56 |
| Net decrease in cash and cash equivalentsSingapore dollars | (317,176) | PDF p. 56 |
| Effect of exchange rate changes on cash and cash EquivalentsSingapore dollars | (1,271) | PDF p. 56 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars | 6,657,627 | PDF p. 56 |
| Cash and cash equivalents at end of financial yearSingapore dollars | 6,339,180 | PDF p. 56 |
Definitions & sources
Original report: PDF p. 55 ↗ PDF p. 56 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Original FY2025 Group profit or loss and comprehensive income
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended 31 March 2025 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars | 12,813,313 | PDF p. 46 |
| Other items of income | ||
| Other incomeSingapore dollars | 308,885 | PDF p. 46 |
| Reversal of loss allowance on receivablesSingapore dollars | 139,499 | PDF p. 46 |
| Items of expense | ||
| Changes in inventoriesSingapore dollars | (19,760) | PDF p. 46 |
| Other items of income | ||
| Inventories and consumablesSingapore dollars | (2,865,350) | PDF p. 46 |
| Employee benefits expenseSingapore dollars | (5,201,776) | PDF p. 46 |
| Depreciation and amortisation expensesSingapore dollars | (552,913) | PDF p. 46 |
| Loss allowance on receivablesSingapore dollars | (114,924) | PDF p. 46 |
| Other expensesSingapore dollars | (1,545,774) | PDF p. 46 |
| Finance costsSingapore dollars | (46,247) | PDF p. 46 |
| Share of results of joint ventures, net of taxSingapore dollars | 68,322 | PDF p. 46 |
| Profit before income taxSingapore dollars | 2,983,275 | PDF p. 46 |
| Income tax expenseSingapore dollars | (150,641) | PDF p. 46 |
| PROFIT FOR THE YEARSingapore dollars | 2,832,634 | PDF p. 46 |
| Items that will or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differencesSingapore dollars | (2,409) | PDF p. 46 |
| Other comprehensive loss for the year, net of taxSingapore dollars | (2,409) | PDF p. 46 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEARSingapore dollars | 2,830,225 | PDF p. 46 |
| Profit attributable to: | ||
| Owners of the CompanySingapore dollars | 2,834,746 | PDF p. 46 |
| Non-controlling interestsSingapore dollars | (2,112) | PDF p. 46 |
| Profit for the yearSingapore dollars | 2,832,634 | PDF p. 46 |
| Total comprehensive income attributable to: | ||
| Owners of the CompanySingapore dollars | 2,832,337 | PDF p. 46 |
| Non-controlling interestsSingapore dollars | (2,112) | PDF p. 46 |
| Total comprehensive income for the yearSingapore dollars | 2,830,225 | PDF p. 46 |
| Earnings per share attributable to owners of the Company (cents per share) | ||
| Basic earnings per shareSingapore cents per share | 2.14 | PDF p. 46 |
| Diluted earnings per shareSingapore cents per share | 2.10 | PDF p. 46 |
Definitions & sources
Original report: PDF p. 46 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Original FY2022 Group profit or loss and comprehensive income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 March 2022 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars | 11,993,311 | PDF p. 44 |
| Other item of income | ||
| Other incomeSingapore dollars | 1,618,573 | PDF p. 44 |
| Items of expense | ||
| Changes in inventoriesSingapore dollars | (77,922) | PDF p. 44 |
| income | ||
| Inventories and consumablesSingapore dollars | (3,348,178) | PDF p. 44 |
| Employee benefits expenseSingapore dollars | (4,489,568) | PDF p. 44 |
| Depreciation and amortisation expensesSingapore dollars | (650,189) | PDF p. 44 |
| Loss allowance on receivablesSingapore dollars | (231,232) | PDF p. 44 |
| Other expensesSingapore dollars | (1,459,816) | PDF p. 44 |
| Finance costsSingapore dollars | (86,263) | PDF p. 44 |
| Share of results of joint ventures, net of taxSingapore dollars | (2,399) | PDF p. 44 |
| Profit before income taxSingapore dollars | 3,266,317 | PDF p. 44 |
| Income tax expenseSingapore dollars | (370,404) | PDF p. 44 |
| Profit for the financial yearSingapore dollars | 2,895,913 | PDF p. 44 |
| Items that will or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differencesSingapore dollars | (7,428) | PDF p. 44 |
| Other comprehensive income for the financial year, net of taxSingapore dollars | (7,428) | PDF p. 44 |
| Total comprehensive income for the financial yearSingapore dollars | 2,888,485 | PDF p. 44 |
| Profit attributable to: | ||
| Owners of the CompanySingapore dollars | 2,807,108 | PDF p. 44 |
| Non-controlling interestsSingapore dollars | 88,805 | PDF p. 44 |
| Subtotal (unlabelled in original)Singapore dollars | 2,895,913 | PDF p. 44 |
| Profit and total comprehensive income attributable to: | ||
| Owners of the parentSingapore dollars | 2,799,680 | PDF p. 44 |
| Non-controlling interestsSingapore dollars | 88,805 | PDF p. 44 |
| Subtotal (unlabelled in original)Singapore dollars | 2,888,485 | PDF p. 44 |
| Earnings per share (cents) | ||
| - Basic and dilutedSingapore cents per share | 2.14 | PDF p. 44 |
Definitions & sources
Original report: PDF p. 44 ↗
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
Where the money comes from
Segment information
By business
Business segment information, year ended 31 March 14 lines
| Item / unit | 2026Medical support services | 2026Business support services | 2026Pharmaceutical services | 2026Medical services (discontinued) | 2026Unallocated expenses | 2026Consolidated | 2025Medical support services | 2025Business support services | 2025Pharmaceutical services | 2025Medical services | 2025Unallocated expenses | 2025Consolidated | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| External revenue$ | 4,545,546 | 4,586,479 | 2,788,862 | 492,724 | – | 12,413,611 | 4,432,767 | 4,592,327 | 3,287,990 | 500,229 | – | 12,813,313 | PDF p. 87PDF p. 88 |
| Profit/(loss) from operations | |||||||||||||
| Share of results from joint venture, net of tax$ | – | – | – | – | 140,980 | 140,980 | – | – | – | – | 68,322 | 68,322 | PDF p. 87PDF p. 88 |
| Interest income$ | 4,777 | – | 4,777 | 2,640 | 40,326 | 52,520 | – | – | – | 2,473 | 70,429 | 72,902 | PDF p. 87PDF p. 88 |
| Finance costs$ | 21,152 | 5,414 | 7,034 | 5,260 | 1,875 | 40,735 | 20,820 | 2,931 | 11,663 | 7,606 | 3,227 | 46,247 | PDF p. 87PDF p. 88 |
| Depreciation and amortisation expenses$ | 224,875 | 101,628 | 51,654 | 45,641 | 107,900 | 531,698 | 227,797 | 87,347 | 65,855 | 56,212 | 115,702 | 552,913 | PDF p. 87PDF p. 88 |
| Employee benefits expense$ | 516,500 | 1,212,647 | 562,794 | 186,174 | 2,795,261 | 5,273,376 | 536,977 | 1,143,854 | 563,229 | 167,646 | 2,790,070 | 5,201,776 | PDF p. 87PDF p. 88 |
| Income tax expense$ | 86,063 | 56,590 | – | – | 52,667 | 195,320 | 68,405 | 58,859 | – | – | 23,377 | 150,641 | PDF p. 87PDF p. 88 |
| Reportable segment profit/(loss) before income tax$ | 3,440,110 | 2,966,377 | (437,448) | 26,251 | (3,574,556) | 2,420,734 | 3,500,842 | 3,065,370 | (170,343) | 30,706 | (3,443,300) | 2,983,275 | PDF p. 87PDF p. 88 |
| Net profit/(loss) for the financial year after income tax$ | 3,354,047 | 2,909,786 | (437,448) | 26,251 | (3,627,222) | 2,225,414 | 3,432,437 | 3,006,511 | (170,343) | 30,706 | (3,466,677) | 2,832,634 | PDF p. 87PDF p. 88 |
| Other information: Other material non-cash items | |||||||||||||
| - Impairment loss on goodwill$ | 797,998 | – | 797,997 | – | – | 1,595,995 | – | – | – | – | 260,452 | 260,452 | PDF p. 87PDF p. 88 |
| Additions to non-current assets | |||||||||||||
| - plant and equipment$ | 142,032 | – | – | – | 15,978 | 158,010 | 2,516 | 2,836 | 2,516 | 12,297 | 2,453 | 22,618 | PDF p. 87PDF p. 88 |
| - right-of-use assets$ | 556,598 | – | 8,034 | – | – | 564,632 | 108,580 | 103,627 | 102,276 | – | – | 314,483 | PDF p. 87PDF p. 88 |
| Other information | |||||||||||||
| Segment assets$ | 592,536 | 2,090,674 | 1,449,112 | – | 15,335,859 | 19,468,181 | 1,116,206 | 2,084,040 | 2,323,312 | 278,618 | 14,888,139 | 20,690,315 | PDF p. 87PDF p. 88 |
| Segment liabilities$ | 1,059,344 | 759,119 | 553,245 | – | 577,494 | 2,949,202 | 1,094,108 | 983,266 | 959,831 | 263,722 | 662,184 | 3,963,111 | PDF p. 87PDF p. 88 |
Notes
Medical services segment discontinued following disposal of the subsidiary on 31 March 2026 (Note 15). Unallocated expenses include corporate headquarter costs not attributable to a reportable segment. Other non-cash item rows (loss allowance, reversals, gains on disposal, etc.) and inventories row not all extracted.
Comparative year ended 31 March 2025. Not all non-cash item rows extracted. Geographical information: 'The Group’s revenue and assets are mainly derived from Singapore. Accordingly, no geographical segment information is presented.'
Debt
Borrowings
Contractual maturity analysis – Group
| Item / unit | 20261 year or less, $ | 20262 to 5 years, $ | 2026Over 5 years, $ | 2026Total, $ | 20251 year or less, $ | 20252 to 5 years, $ | 2025Over 5 years, $ | 2025Total, $ | Source |
|---|---|---|---|---|---|---|---|---|---|
| Undiscounted financial liabilities | |||||||||
| Bank borrowings$ | 262,889 | – | – | 262,889 | 525,840 | 262,889 | – | 788,729 | PDF p. 93 |
| Lease liabilities$ | 278,487 | 531,127 | – | 809,614 | 452,896 | 469,813 | – | 922,709 | PDF p. 93 |
Notes
Based on undiscounted cash flows of financial instruments based on the earlier of the contractual date or when the Group and the Company are expected to pay.
Borrowing notes 4 tables
Bank borrowings
| Item / unit | 2026$ | 2025$ | Source |
|---|---|---|---|
| Non-current, Unsecured | |||
| Term loan$ | – | 261,796 | PDF p. 83 |
| Current, Unsecured | |||
| Term loan$ | 261,732 | 515,862 | PDF p. 83 |
| Banking facilities | |||
| Banking facilities granted$ | 5,000,000 | 5,000,000 | PDF p. 83 |
| Banking facilities utilised$ | 2,500,000 | 2,500,000 | PDF p. 83 |
Notes
Term loan is arranged at fixed rate and are repayable over remaining period of 6 months (2025: 18 months). The term loan is supported by corporate guarantee provided by the Company.
During the financial year ended 31 March 2026, the average effective interest rate of the bank loan was 2.00% (2025: 2.00%) per annum.
The currency profile of the bank borrowings as at the end of the respective reporting periods are Singapore dollar.
Term loan current total 261,732 (2025: 777,658 total current and non-current as printed unlabelled subtotal).
Statement of financial position – borrowings and lease liabilities
| Item / unit | 2026Group, $ | 2025Group, $ | 2026Company, $ | 2025Company, $ | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Lease liabilities$ | 485,038 | 460,833 | – | – | PDF p. 52 |
| Bank borrowings$ | – | 261,796 | – | – | PDF p. 52 |
| Current liabilities | |||||
| Lease liabilities$ | 248,936 | 431,455 | – | – | PDF p. 52 |
| Bank borrowings$ | 261,732 | 515,862 | – | – | PDF p. 52 |
Lease liabilities (Group as lessee)
| Item / unit | 2026$ | 2025$ | Source |
|---|---|---|---|
| Presented in consolidated statement of financial position | |||
| - Current$ | 248,936 | 431,455 | PDF p. 83 |
| - Non-current$ | 485,038 | 460,833 | PDF p. 83 |
| Contractual undiscounted cash flows | |||
| - Within one financial year$ | 278,487 | 452,896 | PDF p. 83 |
| - After one financial year but within five financial years$ | 531,127 | 469,813 | PDF p. 83 |
| Less: Future interest expense$ | (75,640) | (30,421) | PDF p. 83 |
| Present value of lease liabilities$ | 733,974 | 892,288 | PDF p. 83 |
Notes
As at 31 March 2026, the incremental borrowing rate applied in the lease liabilities were ranging from 3% to 5% (2025: 3% to 4%).
Total undiscounted cash flows 809,614 (2025: 922,709) printed as unlabelled subtotal.
Lease liabilities – currency profile
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a fixed dividend policy in place. | Company | PDF p. 42 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| First interim tax exempt dividend of $0.0084 (2025: $0.0084) per ordinary share for the financial year | $0.0084 | Group, FY ended 31 March 2026 (paid); comparative 2025: $0.0084 | PDF p. 71 |
| final tax exempt dividend of $0.0084 per ordinary share | $0.0084 | Company, proposed for FY ended 31 March 2026 | PDF p. 71 |
| Final tax exempt dividend of $0.0084 (2025: $0.0084) per ordinary share for the financial year ended | $0.0084 | Group, final dividend for FY ended 31 March 2025 (paid in FY2026); comparative: final for FY2024 $0.0084 | PDF p. 71 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| total dividend for FY2026 | 1.68 Singapore cents per share | FY2026 (interim 0.84 + proposed final 0.84) | PDF p. 5 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Engagement partner | Lok Yung Hui | Group and Company, FY ended 31 March 2026 | PDF p. 49 |
| Opinion | In our opinion, the accompanying financial statements of the Group | Group and Company, FY ended 31 March 2026 | PDF p. 47 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of investments in subsidiaries | The determination of impairment of investments in subsidiaries involves | Company, FY ended 31 March 2026 | PDF p. 48 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
FY2022–FY2026 full financial years ended 31 March. Primary monetary amounts are whole Singapore dollars ($), not thousands; EPS is Singapore cents per share. Group profit/OCI, equity, cashflow and Group/Company financial position are supplied. Separate Company primary income/OCI/equity/cashflow are not disclosed.
Comparative presentation: FY2025 original other expenses S$1,545,774 is shown in FY2026 as goodwill impairment S$260,452 plus other expenses S$1,285,322. Original FY2025 profit/OCI is retained.
FY2022 original Note29 (physical79) reports combined basic/diluted EPS2.14 cents and no potential dilution. FY2023 Note11 (physical71) instead presents FY2022 basic2.14/diluted2.12, using 131,207,540 basic shares plus1,483,636 deferred-consideration shares, total132,691,176. Both original and later comparative are retained; no silent correction of original.
FY2023 audited versus preliminary-results reconciliation (7 July 2023, physical1–2) is in thousands, unlike whole-dollar annual primary statements. It records receivable/inventory reclassifications and EPS1.29/1.26 versus preliminary1.28/1.28 using weighted shares. These preliminary adjustments are separate from audited annual-to-annual comparatives.
Current unmodified Forvis Mazars LLP opinion physical47–49; Lok Yung Hui signed3July2026. Two key audit matters: Group goodwill impairment and Company subsidiary-investment impairment. Wong Zi En attended later AGM, distinct from signing engagement partner.
Carlin deferred consideration settled11December2025 with1,852,667 newly issued shares and814,000 existing treasury shares, total2,666,667 at S$0.225. Announcement treasury-transfer value S$183,150 differs from cash repurchase cost S$185,078; no balancing adjustment is invented.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.