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Statements of changes in equityfor the year ended 31 March 2026

   Attributable to equity holders of Telkom 
Group  Share 
capital 
Rm 
Non- 
distributable 
reserves 
Rm 
Share-based 
compensation 
reserve 
Rm 
Retained 
earnings 
Rm 
Total 
Rm 
Non- 
controlling 
interests 
Rm 
Total 
equity 
Rm 
Balance at 1 April 2024  5 050  750  1 535  18 861  26 196  (21) 26 175 
Total comprehensive (loss)/income  —  (13) —  7 495  7 482  7 488 
Profit for the year  —  —  —  7 497  7 497  7 503 
Other comprehensive loss  —  (13) —  (2) (15) —  (15)
Exchange loss on translating foreign operations  —  (13) —  —  (13) —  (13)
Net defined benefit plan remeasurements  —  —  —  (2) (2) —  (2)
Transactions with owners recorded directly in equity                      
Increase in treasury shares from BCX (refer to note 9.3) —  (45) —  —  (45) —  (45)
Increase in share-based compensation reserve (refer to note 9.2) —  —  38  —  38  —  38 
Increase in subsidiaries' share-based compensation reserve (refer to note 9.2) —  —  37  —  37  —  37 
Increase in treasury shares (refer to note 9.3) —  (107) —  —  (107) —  (107)
Dividend declared (refer to note 9.4) —  —  —  —  —  (1) (1)
Balance at 31 March 2025  5 050  585  1 610  26 356  33 601  (16) 33 585 
Balance at 1 April 2025  5 050  585  1 610  26 356  33 601  (16) 33 585 
Total comprehensive income  —  —  3 526  3 534  3 538 
Profit for the year  —  —  —  3 544  3 544  3 548 
Other comprehensive income/(loss) —  —  (18) (10) —  (10)
Exchange gain on translating foreign operations  —  —  —  — 
Net defined benefit plan remeasurements  —  —  —  (18) (18) —  (18)
Transactions with owners recorded directly in equity                      
Escrow shares realised for settlement to employees (refer to note 9.3) —  (2) —  —  (2) —  (2)
Increase in share-based compensation reserve (refer to note 9.2) —  —  48  —  48  —  48 
Increase in subsidiaries' share-based compensation reserve (refer to note 9.2) —  —  19  —  19  —  19 
Dividend declared (refer to note 9.4) —  —  —  (1 294) (1 294) (3) (1 297)
Balance at 31 March 2026  5 050  591  1 677  28 588  35 906  (15) 35 891 
   Attributable to equity holders of Telkom 
Company  Share 
capital 
Rm 
Non- 
distributable 
reserves 
Rm 
Share-based 
compensation 
reserve 
Rm 
Retained 
earnings 
Rm 
Total equity 
Rm 
Balance at 1 April 2024  5 050  278  1 321  20 072  26 721 
Total comprehensive income  —  —  —  7 123  7 123 
Profit for the year  —  —  —  7 122  7 122 
Other comprehensive income  —  —  — 
Net defined benefit plan remeasurements  —  —  — 
Transactions with owners recorded directly in equity                
Increase in treasury shares (refer to note 9.3) —  (107) —  —  (107)
Increase in Gyro share-based compensation reserve (refer to note 9.2) —  —  — 
Increase in share-based compensation reserve (refer to note 9.2) —  —  38  —  38 
Increase in Openserve share-based compensation reserve (refer to note 9.2) —  —  — 
Balance at 31 March 2025  5 050  171  1 374  27 195  33 790 
Balance at 1 April 2025  5 050  171  1 374  27 195  33 790 
Total comprehensive income  —  —  —  3 192  3 192 
Profit for the year  —  —  —  3 210  3 210 
Other comprehensive loss  —  —  —  (18) (18)
Net defined benefit plan remeasurements  —  —  —  (18) (18)
Transactions with owners recorded directly in equity                
Escrow shares realised for settlement to employees (refer to note 9.3) —  (6) —  —  (6)
Increase in share-based compensation reserve (refer to note 9.2) —  —  48  —  48 
Increase in Openserve share-based compensation reserve (refer to note 9.2) —  —  — 
Dividend declared (refer to note 9.4) —  —  —  (1 317) (1 317)
Balance at 31 March 2026  5 050  165  1 423  29 070  35 708 
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