0001213900-24-063601 | 6-K | XBRL Viewer

Segment Reporting

3 Months Ended

May 31, 2024

4. SEGMENT REPORTING

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (“CODM”). The CODM, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Group Chief Executive Officer (“CEO”), who makes strategic decisions.

The Group organized its business units based on its products and services into the following reportable segments:

Cartrack is a provider of an on-the-ground operational Internet of Things (“IoT”) Software-as-a-service (“SaaS”) cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to connected vehicles and equipment.

Carzuka is a physical and e-commerce vehicle buying and selling marketplace which allows customers to source, buy and sell vehicles efficiently and cost effectively. During the third quarter of the financial year of 2024, despite the growth experienced by Carzuka in South Africa, a decision was made to cease buying second hand vehicles in South Africa. This follows considerable interaction with motor dealerships across South Africa during these periods, who perceived Carzuka’s business interests to conflict with their business interests and Cartrack do not want to risk the long-standing strategic relationships that Cartrack has forged with motor dealerships across South Africa.

There are many components within the Carzuka’s platform that had been built and developed and will continue to provide substantial value to the existing Cartrack fleet platform. As at February 29, 2024, Carzuka has been integrated into Cartrack’s broader operations.

Karooooo Logistics provides a software application enabling the management of last mile delivery and general operational logistics. This technology addresses the challenges of on-the-ground distribution for large enterprises requiring systems integrations, payment gateways, third-party long-haul services and crowd-sourced drivers in order to scale and meet their operational needs.

The segment information provided to the Group CEO, for the reportable segments for the three months ended May 31, 2024 and May 31, 2023 are as follows:

Figures in Rand thousands	Cartrack		Karooooo Logistics		Total
May 31, 2024
Subscription revenue		959,603		4,165		963,768
Other revenue		19,372		–		19,372
Vehicle sales		2,099		–		2,099
Delivery service		–		96,586		96,586
Segment revenue		981,074		100,751		1,081,825

Segment operating profit		287,187		12,560		299,747

Depreciation and amortization		166,146		844		166,990
Capital expenditure		279,550		371		279,921

Figures in Rand thousands	Cartrack		Carzuka			Karooooo Logistics		Total
May 31, 2023
Subscription revenue		834,232		-			2,165		836,397
Other revenue		19,197		-			-		19,197
Vehicle sales		-		81,563			-		81,563
Delivery service		-		-			59,630		59,630
Segment revenue		853,429		81,563			61,795		996,787

Segment operating profit/(loss)		231,901		(12,056	)		4,529		224,374

Depreciation and amortization		160,189		1,098			463		161,750
Capital expenditure		195,408		47			245		195,700

Reconciliation of information on reportable segments to the amounts reported in consolidated financial statements

	For the Three Months Ended May 31,
Figures in Rand thousands	2024			2023
Total segment operating profits		299,747			224,374
Finance income		11,213			10,878
Finance cost		(5,634	)		(2,174	)
Consolidated profit before taxation		305,326			233,078

Information about geographical areas:

Non-current operating assets¹	As of May 31, 2024		As of February 29, 2024
South Africa		1,825,015		1,714,719
Africa-Other		154,256		154,777
Europe		366,870		355,904
Asia-Pacific², Middle East & USA		484,438		498,361
		2,830,579		2,723,761

1	Non-current operating assets consist of property, plant and equipment, capitalized commission assets, intangible assets, goodwill and prepayments.

2	Included in Asia-Pacific is non-current assets from Singapore amount to ZAR 174.5 million (February 29, 2024: ZAR 226.2 million).

Information about revenue from geographical areas are disclosed in Note 10.

There are no customers which contribute in excess of 10% of Group revenue for the quarter ended May 31, 2024 and May 31, 2023.

Cash and Cash Equivalents and Bank Overdraft (Tables)

3 Months Ended

May 31, 2024

Cash and Cash Equivalents and Bank Overdraft [Abstract]

Schedule of Cash and Cash Equivalents and Bank Overdraft

Figures in Rand thousands	As of May 31, 2024			As of February 29, 2024

Cash on hand		557			1,965
Bank balances		230,002			457,366
Short-term deposits		765,495			196
Cash and cash equivalents in the consolidated statement of financial position		996,054			459,527
Bank overdrafts		(46,496	)		(23,362	)
Cash and cash equivalents in the consolidated statement of cash flows		949,558			436,165

Current assets		996,054			459,527
Current liabilities		(46,496	)		(23,362	)
		949,558			436,165

Trade and Other Receivables and Prepayments (Details) - Schedule of Trade and Other Receivables and Prepayments - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Schedule of Detailed Information About Trade and Other Receivables and Prepayments [Abstract]
Trade receivables	R 587,478	R 554,107
Expected credit loss provision	(175,848)	(165,240)
Total trade receivables	411,630	388,867
Other receivables
Deposits	13,663	500,646
Sundry debtors	35,854	24,656
Finance lease receivables	16,251	17,326
Subtotal	477,398	931,495
Prepayments	107,766	55,778
Other taxes	27,742	16,956
Total trade and other receivables and prepayments	612,906	1,004,229
Non-current	17,059	18,831
Current	595,847	985,398
Trade receivables	R 612,906	R 1,004,229

Share Capital, Treasury Shares and Reserves (Details) - Schedule of Other Capital Reserve R in Thousands	3 Months Ended
	May 31, 2024 ZAR (R)
Schedule of Other Capital Reserve [Line Items]
Balance of Beginning	R 3,582,568
Cancellation of treasury shares	12,022
Repurchase and cancellation of ordinary shares of a subsidiary	11,400
Balance of Ending	3,605,990
Capital reserve [Member]
Schedule of Other Capital Reserve [Line Items]
Balance of Beginning	3,582,568
Cancellation of treasury shares
Repurchase and cancellation of ordinary shares of a subsidiary
Balance of Ending	3,582,568
Other reserves [Member]
Schedule of Other Capital Reserve [Line Items]
Balance of Beginning
Cancellation of treasury shares	12,022
Repurchase and cancellation of ordinary shares of a subsidiary	11,400
Balance of Ending	R 23,422

Subsequent Events (Details) - Non-Adjusting Event after Reporting Period [Member] R in Millions	1 Months Ended
	Jun. 30, 2024 ZAR (R)
Subsequent Events [Line Items]
Extended loan	R 250
Prime rate	1.50%

Segment Reporting (Tables)

3 Months Ended

May 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Information Provided to the Group CEO

The segment information provided to the Group CEO, for the reportable segments for the three months ended May 31, 2024 and May 31, 2023 are as follows:

Figures in Rand thousands	Cartrack		Karooooo Logistics		Total
May 31, 2024
Subscription revenue		959,603		4,165		963,768
Other revenue		19,372		–		19,372
Vehicle sales		2,099		–		2,099
Delivery service		–		96,586		96,586
Segment revenue		981,074		100,751		1,081,825

Segment operating profit		287,187		12,560		299,747

Depreciation and amortization		166,146		844		166,990
Capital expenditure		279,550		371		279,921

Figures in Rand thousands	Cartrack		Carzuka			Karooooo Logistics		Total
May 31, 2023
Subscription revenue		834,232		-			2,165		836,397
Other revenue		19,197		-			-		19,197
Vehicle sales		-		81,563			-		81,563
Delivery service		-		-			59,630		59,630
Segment revenue		853,429		81,563			61,795		996,787

Segment operating profit/(loss)		231,901		(12,056	)		4,529		224,374

Depreciation and amortization		160,189		1,098			463		161,750
Capital expenditure		195,408		47			245		195,700

Schedule of Reconciliation of Information on Reportable Segments to the Amounts Reported in Consolidated Financial Statements

Reconciliation of information on reportable segments to the amounts reported in consolidated financial statements

	For the Three Months Ended May 31,
Figures in Rand thousands	2024			2023
Total segment operating profits		299,747			224,374
Finance income		11,213			10,878
Finance cost		(5,634	)		(2,174	)
Consolidated profit before taxation		305,326			233,078

Schedule of Information about Geographical Areas

Information about geographical areas:

Non-current operating assets¹	As of May 31, 2024		As of February 29, 2024
South Africa		1,825,015		1,714,719
Africa-Other		154,256		154,777
Europe		366,870		355,904
Asia-Pacific², Middle East & USA		484,438		498,361
		2,830,579		2,723,761

1	Non-current operating assets consist of property, plant and equipment, capitalized commission assets, intangible assets, goodwill and prepayments.

2	Included in Asia-Pacific is non-current assets from Singapore amount to ZAR 174.5 million (February 29, 2024: ZAR 226.2 million).

Revenue

3 Months Ended

May 31, 2024

Revenue [Abstract]

REVENUE

10. REVENUE

The Group generates revenue by offering a full-stack smart mobility technology SaaS platform for connected vehicles and other assets, vehicles sales and delivery services.

In the following table, revenue from contract with customers is disaggregated by revenue streams, primary geographical markets and timing of revenue recognition.

	For the Three Months Ended May 31,
Figures in Rand thousands	2024		2023

Revenue from contracts with customers
Subscription revenue - Cartrack		959,603		834,232
Subscription revenue - Karooooo Logistics		4,165		2,165
Other revenue - Cartrack
Hardware sales		8,625		9,370
Installation revenue		7,578		7,157
Miscellaneous contract fees		3,169		2,670
Vehicle sales		2,099		81,563
Delivery service fees		96,586		59,630
Total revenue		1,081,825		996,787

Primary geographical markets
South Africa		801,110		752,043
Africa-Other		35,449		39,026
Europe		96,326		81,147
Asia-Pacific*, Middle East and USA		148,940		124,571
		1,081,825		996,787

Timing of revenue recognition
Products and services transferred at a point in time		118,057		160,390
Services transferred over time		963,768		836,397
Total revenue		1,081,825		996,787

*	Included in Asia-Pacific is revenue from Singapore amounted to ZAR 39.8 million (May 31, 2023: ZAR 39.0 million).

Segment Reporting (Details) - Schedule of Segment Information Provided to the Group CEO - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Schedule of Segment Information Provided to the Group CEO [Line Items]
Subscription revenue	R 963,768	R 836,397
Other revenue	19,372	19,197
Vehicle sales	2,099	81,563
Delivery service	96,586	59,630
Segment revenue	1,081,825	996,787
Segment operating profit/(loss)	299,747	224,374
Depreciation and amortization	166,990	161,750
Capital expenditure	279,921	195,700
Cartrack [Member]
Schedule of Segment Information Provided to the Group CEO [Line Items]
Subscription revenue	959,603	834,232
Other revenue	19,372	19,197
Vehicle sales	2,099
Delivery service
Segment revenue	981,074	853,429
Segment operating profit/(loss)	287,187	231,901
Depreciation and amortization	166,146	160,189
Capital expenditure	279,550	195,408
Karooooo Logistics [Member]
Schedule of Segment Information Provided to the Group CEO [Line Items]
Subscription revenue	4,165	2,165
Other revenue
Vehicle sales
Delivery service	96,586	59,630
Segment revenue	100,751	61,795
Segment operating profit/(loss)	12,560	4,529
Depreciation and amortization	844	463
Capital expenditure	R 371	245
Carzuka [Member]
Schedule of Segment Information Provided to the Group CEO [Line Items]
Subscription revenue
Other revenue
Vehicle sales		81,563
Delivery service
Segment revenue		81,563
Segment operating profit/(loss)		(12,056)
Depreciation and amortization		1,098
Capital expenditure		R 47

Share Capital, Treasury Shares and Reserves (Details) - Schedule of Share Capital (Parentheticals) - R / shares	May 31, 2024	Feb. 29, 2024
Schedule of Share Capital [Abstract]
Ordinary shares, issued and fully paid	30,900,000	30,951,106
Ordinary shares, par value

Fair value of Assets and Liabilities

3 Months Ended

May 31, 2024

Fair Value of Assets and Liabilities [Abstract]

FAIR VALUE OF ASSETS AND LIABILITIES

15. FAIR VALUE OF ASSETS AND LIABILITIES

Fair value hierarchy

The Group categorizes fair value measurement using a fair value hierarchy that is dependent on the valuation inputs used as follows:

●

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Group can access at the measurement date.

●

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

●

Level 3: Unobservable inputs for the asset or liability

Fair value measurements that use inputs of different hierarchy levels are categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

Assets and liabilities measured at fair value

No assets and liabilities were measured at fair value as of May 31, 2024 and February 29, 2024.

Assets and liabilities not measured at fair value, for which fair value is disclosed

As of May 31, 2024, the fair value of loan to related party as disclosed in the table below is based on significant unobservable inputs (Level 3) and have been calculated by discounting the expected future cash flows using rates currently available for instruments on with similar terms, credit risk and remaining maturities.

	As of May 31, 2024
Figures in Rand thousands	Carrying amount		Aggregate fair value

Loan to related party		28,200		29,258

Fair value of financial instruments by classes that are not carried at fair value and whose carrying amounts are reasonable approximation of fair value

Cash and cash equivalents, trade and other receivables, trade and other payables, term loans, loans from related parties, and lease liabilities. The carrying amounts of these financial assets and liabilities are reasonable approximation of fair values as they are short term in nature, market interest rate instruments.

Fair value of financial instrument classes that are not carried at fair value and whose carrying amounts are not reasonable approximation of fair value

There are no financial instruments that are not carried at fair value and whose carrying amounts are not reasonable approximation of fair value.

Goodwill (Details) - ZAR (R) R in Billions	Mar. 31, 2024	Feb. 29, 2024
Goodwill [Abstract]
Value of equity	R 13.4	R 11.3

Subsequent Events

3 Months Ended

May 31, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

16. SUBSEQUENT EVENTS

In June 2024, The Standard Bank of South Africa Limited extended a loan of ZAR 250 million to Purple Rain Properties No.444 Proprietary Limited (the owner of the regional South Africa head office under construction) at South Africa Prime Rate less 1.5%. The loan will mature on December 21, 2025 and the funds were used to settle an intercompany loan.

On July 18, 2024, the Board of Directors declared an interim dividend of 108 U.S. cents per ordinary share, pertaining to the first quarter of Karooooo’s 2025 financial year. The dividend is therefore not recognized as a liability as of May 31, 2024. The dividend will be payable on August 12, 2024 to Johannesburg Stock Exchange (“JSE”) shareholders and August 14, 2024 to Nasdaq shareholders.

Analysis of Assets and Liabilities by Financial Instrument Classification (Tables)

3 Months Ended

May 31, 2024

Analysis of Assets and Liabilities by Financial Instrument Classification [Abstract]

Schedule of Classification of Financial Assets and Financial Liabilities

The following table shows the carrying amounts and classification of financial assets and financial liabilities.

Figures in Rand thousands	As of May 31, 2024		As of February 29, 2024

Financial assets (at amortized cost)
Loans to related party		28,200		28,200
Trade and other receivables (excludes prepayments and other taxes)		477,398		931,495
Cash and cash equivalents		996,054		459,527
		1,501,652		1,419,222

Financial liabilities (at amortized cost)
Loans from related parties		668		924
Trade and other payables (excludes other taxes)		421,642		398,153
Term loans		46,368		48,179
Bank overdraft		46,496		23,362
		515,174		470,618

Goodwill (Details) - Schedule of Goodwill is Allocated to Cash Generating Units - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	R 227,380	R 212,481
Acquisition of subsidiary		6,223
Translation adjustments	(5,764)	11,511
Balance, at ending	221,616	230,215
Mozambique [Member]
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	86,304	82,277
Acquisition of subsidiary
Translation adjustments	(2,802)	4,423
Balance, at ending	83,502	86,700
Portugal [Member]
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	36,815	34,469
Acquisition of subsidiary
Translation adjustments	(1,179)	2,899
Balance, at ending	35,636	37,368
Spain [Member]
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	26,095	24,432
Acquisition of subsidiary
Translation adjustments	(836)	2,055
Balance, at ending	25,259	26,487
Other [Member]
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	19,852	12,989
Acquisition of subsidiary		6,223
Translation adjustments	(947)	2,134
Balance, at ending	18,905	21,346
Karooooo Logistics [Member]
Schedule of Goodwill is Allocated to Cash Generating Units [Line Items]
Balance, at beginning	58,314	58,314
Acquisition of subsidiary
Translation adjustments
Balance, at ending	R 58,314	R 58,314

Fair value of Assets and Liabilities (Tables)

3 Months Ended

May 31, 2024

Fair value of Assets and Liabilities [Abstract]

Schedule of Loans to Related Party

	As of May 31, 2024
Figures in Rand thousands	Carrying amount		Aggregate fair value

Loan to related party		28,200		29,258

Basis of Preparation

3 Months Ended

May 31, 2024

Basis of Preparation [Abstract]

BASIS OF PREPARATION

1. BASIS OF PREPARATION

The unaudited interim condensed consolidated financial statements for the three months ended May 31, 2024 have been prepared in accordance with International Accounting Standards (“IAS”) 34 Interim Financial Reporting and should be read in conjunction with the Group’s last annual consolidated financial statements as at and for the year ended February 29, 2024 (‘last annual financial statements’). They do not include all of the information required for a complete set of financial statements prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IASB”). However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the last annual financial statements.

The Group has prepared the unaudited interim condensed consolidated financial statements on the basis that it will continue to operate as a going concern.

The unaudited interim condensed consolidated financial statements were approved for issue by the Directors on July 23, 2024.

Unaudited Interim Condensed Consolidated Statements of Financial Position - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Non-current assets
Property, plant and equipment	R 2,127,250	R 2,032,794
Capitalized commission assets	398,017	374,521
Intangible assets	78,355	83,123
Goodwill	221,616	227,380
Loans to related parties	28,200	28,200
Long-term other receivables and prepayments	17,059	18,831
Deferred tax assets	89,464	81,903
Total non-current assets	2,959,961	2,846,752
Current assets
Inventories	4,914	6,582
Trade and other receivables and prepayments	595,847	985,398
Income tax receivables	8,668	8,714
Cash and cash equivalents	996,054	459,527
Total current assets	1,605,483	1,460,221
Total assets	4,565,444	4,306,973
Equity
Share capital	7,131,059	7,142,853
Treasury shares	(3,461)	(23,816)
Other capital reserve	(3,605,990)	(3,582,568)
Common control reserve	(2,709,236)	(2,709,236)
Foreign currency translation reserve	278,709	330,812
Retained earnings	2,025,066	1,803,482
Equity attributable to equity holders of parent	3,116,147	2,961,527
Non-controlling interest	39,762	40,935
Total equity	3,155,909	3,002,462
Non-current liabilities
Term loans	39,809	41,645
Lease liabilities	124,165	131,285
Deferred revenue	121,784	121,302
Deferred tax liabilities	68,551	69,840
Total non-current liabilities	354,309	364,072
Current liabilities
Term loans	6,559	6,534
Trade and other payables	465,729	446,284
Loans from related parties	668	924
Lease liabilities	61,458	63,055
Deferred revenue	324,555	325,848
Bank overdraft	46,496	23,362
Income tax payables	148,270	73,375
Provision for warranties	1,491	1,057
Total current liabilities	1,055,226	940,439
Total liabilities	1,409,535	1,304,511
Total equity and liabilities	R 4,565,444	R 4,306,973

Taxation (Details) - ZAR (R) R in Thousands	3 Months Ended
Taxation (Details) - ZAR (R) R in Thousands	May 31, 2024	May 31, 2023
Taxation [Abstract]
Income tax expense	R 80,043	R 71,131

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Analysis of Assets and Liabilities by Financial Instrument Classification (Details) - Schedule of Classification of Financial Assets and Financial Liabilities - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Loans to related party [Member]
Financial assets (at amortized cost)
Financial assets	R 28,200	R 28,200
Trade and other receivables (excludes prepayments and other taxes) [Member]
Financial assets (at amortized cost)
Financial assets	477,398	931,495
Cash and cash equivalents [Member]
Financial assets (at amortized cost)
Financial assets	996,054	459,527
Total financial assets (at amortized cost) [Member]
Financial assets (at amortized cost)
Financial assets	1,501,652	1,419,222
Loans from related parties [Member]
Financial liabilities (at amortized cost)
Financial liabilities	668	924
Trade and other payables (excludes other taxes) [Member]
Financial liabilities (at amortized cost)
Financial liabilities	421,642	398,153
Term loans [Member]
Financial liabilities (at amortized cost)
Financial liabilities	46,368	48,179
Bank overdraft [Member]
Financial liabilities (at amortized cost)
Financial liabilities	46,496	23,362
Total financial liabilities (other financial liabilities) [Member]
Financial liabilities (at amortized cost)
Financial liabilities	R 515,174	R 470,618

Share Capital, Treasury Shares and Reserves (Details) - ZAR (R) R in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Feb. 29, 2024
Share Capital, Treasury Shares And Reserves [Line Items]
Treasury stock, share acquired	6,700	51,106
Trust held shares		14,637
Acquire amount (in Rand)	R 3.5	R 23.8

Analysis of Assets and Liabilities by Financial Instrument Classification

3 Months Ended

May 31, 2024

Analysis of Assets and Liabilities by Financial Instrument Classification [Abstract]

ANALYSIS OF ASSETS AND LIABILITIES BY FINANCIAL INSTRUMENT CLASSIFICATION

14. ANALYSIS OF ASSETS AND LIABILITIES BY FINANCIAL INSTRUMENT CLASSIFICATION

The following table shows the carrying amounts and classification of financial assets and financial liabilities.

Figures in Rand thousands	As of May 31, 2024		As of February 29, 2024

Financial assets (at amortized cost)
Loans to related party		28,200		28,200
Trade and other receivables (excludes prepayments and other taxes)		477,398		931,495
Cash and cash equivalents		996,054		459,527
		1,501,652		1,419,222

Financial liabilities (at amortized cost)
Loans from related parties		668		924
Trade and other payables (excludes other taxes)		421,642		398,153
Term loans		46,368		48,179
Bank overdraft		46,496		23,362
		515,174		470,618

Trade and Other Receivables and Prepayments (Details) R in Millions	Feb. 29, 2024 ZAR (R)
Trade and Other Receivables and Prepayments [Abstract]
Deposits amount	R 485.7

Segment Reporting (Details) - ZAR (R) R in Millions	3 Months Ended
Segment Reporting (Details) - ZAR (R) R in Millions	May 31, 2024	May 31, 2023	Feb. 29, 2024
Segment Reporting [ Line Items]
Segments	The segment information provided to the Group CEO, for the reportable segments for the three months ended May 31, 2024 and May 31, 2023 are as follows:
Contribute excess percentage	10.00%	10.00%
Singapore [Member]
Segment Reporting [ Line Items]
Non-current assets	R 174.5		R 226.2

Trade and Other Receivables and Prepayments

3 Months Ended

May 31, 2024

Trade and Other Receivables and Prepayments [Abstract]

TRADE AND OTHER RECEIVABLES AND PREPAYMENTS

7. TRADE AND OTHER RECEIVABLES AND PREPAYMENTS

Figures in Rand thousands	As of May 31, 2024			As of February 29, 2024

Trade receivables		587,478			554,107
Expected credit loss provision		(175,848	)		(165,240	)
		411,630			388,867
Other receivables
Deposits		13,663			500,646
Sundry debtors		35,854			24,656
Finance lease receivables		16,251			17,326
Subtotal		477,398			931,495

Prepayments		107,766			55,778
Other taxes		27,742			16,956
Total trade and other receivables and prepayments		612,906			1,004,229


Non-current		17,059			18,831
Current		595,847			985,398
		612,906			1,004,229

As of February 29, 2024, short term deposits include deposits amounted to ZAR 485.7 million placed with a licensed bank for a term of 5 to 9 months and earns interests at the bank’s prevailing deposit rate.

Dividend

3 Months Ended

May 31, 2024

Dividend [Abstract]

DIVIDEND

12. DIVIDEND

Dividend per share

Dividend paid by the Company to owner of the Company

On May 8, 2023, the Board of Directors declared an interim dividend of 85 U.S. cents per ordinary share, pertaining to the first quarter of Karooooo’s 2024 financial year. The dividends, amounting to ZAR 499.5 million in the aggregate, was paid on July 3, 2023.

Fair value of Assets and Liabilities (Details) - Schedule of Loans to Related Party R in Thousands	May 31, 2024 ZAR (R)
Schedule of Loans to Related Party [Abstract]
Carrying amount, Loan to related party	R 28,200
Aggregate fair value, Loan to related party	R 29,258

Related Parties

3 Months Ended

May 31, 2024

Related Parties [Abstract]

RELATED PARTIES

13. RELATED PARTIES

In addition to the information disclosed in Note 7 in the interim condensed financial statements, the following transactions took place between the Group and related parties at the terms agreed between parties:

Transactions with related parties

	For the Three Months Ended May 31,
Figures in Rand thousands	2024		2023

Sales to related parties		8,127		5,419
Purchases from related parties		36,454		29,445
Rent paid to related parties		2,498		2,157

Included in the “Purchases from related parties” are transaction with Found (Pty) Ltd. Zak Calisto, the CEO of the Group, is a trustee of the Kubu Trust, a discretionary trust that is the ultimate beneficial owner of Found (Pty) Ltd. Zak Calisto undertook to be a trustee until the end of February 2024 and is not a beneficiary of the trust. As at June 2024, the regulatory process of registering Zak Calisto’s resignation as a trustee was still underway with the deed’s office. Upon completion, Found (Pty) Ltd will cease becoming a related party of the Group.

Share Capital, Treasury Shares and Reserves (Details) - Schedule of Treasury Shares - Treasury shares [Member] - ZAR (R) R in Thousands	3 Months Ended	12 Months Ended
	May 31, 2024	Feb. 29, 2024
Schedule of Treasury Shares [Line Items]
Balance of Beginning	R 23,816
Treasury shares purchased	3,461	23,816
Ending balance	3,461	R 23,816
Cancellation of treasury shares	R (23,816)

Taxation

3 Months Ended

May 31, 2024

Taxation [Abstract]

TAXATION

11. TAXATION

The income tax expense for the three months ended May 31, 2024 was ZAR 80.0 million, compared to ZAR 71.1 million for the three months ended May 31, 2023.

Related Parties (Details) - Schedule of Transaction with Related Parties - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Related Parties [Abstract]
Sales to related parties	R 8,127	R 5,419
Purchases from related parties	36,454	29,445
Rent paid to related parties	R 2,498	R 2,157

Revenue (Details) - ZAR (R) R in Millions		3 Months Ended
Revenue (Details) - ZAR (R) R in Millions	May 31, 2023	May 31, 2024
Singapore [Member]
Revenue [Line Items]
Revenue	R 39.0	R 39.8

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2023-03-23

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard
-URIDate 2023-03-23

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard
-URIDate 2023-03-23

+ Details

Use of Estimates and Judgements

3 Months Ended

May 31, 2024

Use of Estimates and Judgements [Abstract]

USE OF ESTIMATES AND JUDGEMENTS

2. USE OF ESTIMATES AND JUDGEMENTS

The preparation of the Group’s interim condensed consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the disclosure of contingent liabilities at the end of the reporting period. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in the future periods.

The significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those described in the last annual financial statements.

Related Parties (Tables)

3 Months Ended

May 31, 2024

Disclosure of related party [Abstract]

Schedule of Transaction with Related Parties

Transactions with related parties

	For the Three Months Ended May 31,
Figures in Rand thousands	2024		2023

Sales to related parties		8,127		5,419
Purchases from related parties		36,454		29,445
Rent paid to related parties		2,498		2,157

Property, Plant and Equipment

3 Months Ended

May 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

5. PROPERTY, PLANT AND EQUIPMENT

Acquisitions and disposals

During the three months ended May 31, 2024, the Group acquired assets with a cost of ZAR 230.1 million (May 31, 2023: ZAR 150.0 million), excluding property under construction.

The carrying amount of the property under construction at May 31, 2024 was ZAR304.1 million (May 31, 2023: ZAR 109.0 million). The amount of borrowing costs capitalised during the three months ended May 31, 2024 was approximately ZAR 1.24 million (May 31, 2023: ZAR 1.27 million). The rate used to determine the amount of borrowing costs eligible for capitalisation was prime rate plus 1.15%, which is the effective interest rate of the specific borrowing.

Assets with net book value of ZAR 1.4 million were disposed by the Group during the three months ended May 31, 2024 (May 31, 2023: ZAR 4.5 million), resulting in a net gain on disposal of ZAR 0.5 million (May 31, 2023: ZAR 1.0 million).

Capital commitments

As at May 31, 2024, the Group has commitments for capital expenditure of ZAR 126.4 million (February 29, 2024: ZAR 151.7 million), relating to the redevelopment of its head office suite for South Africa. The total estimated redevelopment cost is ZAR 402.9 million.

Cash and Cash Equivalents and Bank Overdraft

3 Months Ended

May 31, 2024

Cash and Cash Equivalents and Bank Overdraft [Abstract]

CASH AND CASH EQUIVALENTS AND BANK OVERDRAFT

8. CASH AND CASH EQUIVALENTS AND BANK OVERDRAFT

Figures in Rand thousands	As of May 31, 2024			As of February 29, 2024

Cash on hand		557			1,965
Bank balances		230,002			457,366
Short-term deposits		765,495			196
Cash and cash equivalents in the consolidated statement of financial position		996,054			459,527
Bank overdrafts		(46,496	)		(23,362	)
Cash and cash equivalents in the consolidated statement of cash flows		949,558			436,165

Current assets		996,054			459,527
Current liabilities		(46,496	)		(23,362	)
		949,558			436,165

Share Capital, Treasury Shares and Reserves (Details) - Schedule of Share Capital - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Schedule of Share Capital [Abstract]
Issued and fully paid 30,900,000 (February 29, 2024: 30,951,106) ordinary shares of no par value	R 7,131,059	R 7,142,853

Unaudited Interim Condensed Consolidated Statements of Changes in Equity - ZAR (R) R in Thousands	Share capital	Capital reserve	Common control reserve	Foreign currency translation	Retained earnings	Total attributable to owner of the parent	Non- controlling interest	Treasury shares	Other capital reserve	Total
Balance at Feb. 28, 2023	R 7,142,853	R (3,582,568)	R (2,709,236)	R 245,109	R 1,564,809	R 2,660,967	R 30,908			R 2,691,875
Profit for the period					157,481	157,481	4,466			161,947
Other comprehensive income				88,212		88,212	2,706			90,918
Total comprehensive income for the period				88,212	157,481	245,693	7,172			252,865
Dividends					(499,516)	(499,516)				(499,516)
Total transactions with owner					(499,516)	(499,516)				(499,516)
Acquiring interest in subsidiaries without change in control							512			512
Total changes in ownership interest in subsidiaries							512			512
Balance at May. 31, 2023	7,142,853	R (3,582,568)	(2,709,236)	333,321	1,222,774	2,407,144	38,592			2,445,736
Balance at Feb. 29, 2024	7,142,853		(2,709,236)	330,812	1,803,482	2,961,527	40,935	R (23,816)	R (3,582,568)	3,002,462
Profit for the period					221,584	221,584	3,699			225,283
Other comprehensive income				(52,103)		(52,103)	(1,030)			(53,133)
Total comprehensive income for the period				(52,103)	221,584	169,481	2,669			172,150
Cancellation of treasury shares	(11,794)							23,816	(12,022)
Purchase of treasury shares						(3,461)		(3,461)		(3,461)
Total transactions with owner	(11,794)					(3,461)		20,355	(12,022)	(3,461)
Repurchase and cancellation of ordinary shares of a subsidiary						(11,400)	(3,842)		(11,400)	(15,242)
Total changes in ownership interest in subsidiaries						(11,400)	(3,842)		(11,400)	(15,242)
Balance at May. 31, 2024	R 7,131,059		R (2,709,236)	R 278,709	R 2,025,066	R 3,116,147	R 39,762	R (3,461)	R (3,605,990)	R 3,155,909

Revenue (Details) - Schedule of Revenue from Contracts with Customers is Disaggregated by Revenue Streams - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Revenue from contracts with customers
Subscription revenue - Cartrack	R 959,603	R 834,232
Subscription revenue - Karooooo Logistics	4,165	2,165
Other revenue - Cartrack
Hardware sales	8,625	9,370
Installation revenue	7,578	7,157
Miscellaneous contract fees	3,169	2,670
Vehicle sales	2,099	81,563
Delivery service fees	96,586	59,630
Total revenue	1,081,825	996,787
Primary geographical markets
Primary geographical markets, Total revenue	1,081,825	996,787
Timing of revenue recognition
Timing of revenue recognition , Total revenue	1,081,825	996,787
Products and services transferred at a point in time [Member]
Timing of revenue recognition
Timing of revenue recognition	118,057	160,390
Services transferred over time [Member]
Timing of revenue recognition
Timing of revenue recognition	963,768	836,397
South Africa [Member]
Primary geographical markets
Primary geographical markets	801,110	752,043
Africa-Other [Member]
Primary geographical markets
Primary geographical markets	35,449	39,026
Europe [Member]
Primary geographical markets
Primary geographical markets	96,326	81,147
Asia-Pacific, Middle East and USA [Member]
Primary geographical markets
Primary geographical markets	R 148,940	R 124,571

Unaudited Interim Condensed Consolidated Statements of Profit and Loss - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Profit or loss [abstract]
Revenue	R 1,081,825	R 996,787
Cost of sales	(334,416)	(370,248)
Gross profit	747,409	626,539
Other income	1,682	2,328
Operating expenses	(449,344)	(404,493)
Sales and marketing	(140,248)	(124,705)
General and Administration	(221,494)	(198,263)
Research and development	(57,609)	(49,651)
Expected credit losses on financial assets	(29,993)	(31,874)
Operating profit	299,747	224,374
Finance income	11,213	10,878
Finance costs	(5,634)	(2,174)
Profit before taxation	305,326	233,078
Taxation	(80,043)	(71,131)
Profit for the quarter	225,283	161,947
Profit attributable to:
Owners of the parent	221,584	157,481
Non-controlling interest	3,699	4,466
Total Profit	R 225,283	R 161,947
Earnings per share
Basic earnings per share (ZAR) (in Rand per share)	R 7.17	R 5.09

Unaudited Interim Condensed Consolidated Statements of Cash Flows - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Cash flows from operating activities
Profit before taxation	R 305,326	R 233,078
Adjustments	185,718	171,240
Depreciation on property, plant and equipment	152,311	147,260
Amortization of capitalized commission assets	24,323	19,039
Amortization of intangible assets	14,679	14,490
Gain on disposal of property, plant and equipment	(450)	(1,024)
Finance income	(11,213)	(10,878)
Finance costs	5,634	2,174
Provision for warranties charge	434	179
Working capital adjustments
Inventories	1,668	(18,865)
Trade and other receivables and prepayments	369,133	(21,284)
Trade and other payables	24,511	20,424
Deferred revenue	7,061	(11,709)
Capitalized commission assets	(50,642)	(34,598)
Cash generated from operating activities	842,775	338,286
Interest received	11,213	10,878
Interest paid	(5,634)	(2,174)
Income tax paid	(12,121)	(6,779)
Net cash generated from operating activities	836,233	340,211
Cash flows from investing activities
Purchase of property, plant and equipment	(267,271)	(182,479)
Purchase of property, plant and equipment – Telematics devices and equipment on hand	(191,884)	(141,148)
Purchase of property, plant and equipment – Other	(75,387)	(41,331)
Proceeds on disposal of property, plant and equipment	562	3,488
Investment in intangible assets	(12,650)	(13,221)
Acquisition of subsidiary, net of cash acquired		(5,102)
Net cash utilized by investing activities	(279,359)	(197,314)
Cash flows from financing activities
Repayment of related parties loans	(228)
Purchase of treasury shares	(3,461)
Repurchase and cancellation of ordinary shares of a subsidiary	(15,242)
Repayment of term loans	(1,551)	(3,473)
Payments of lease liabilities	(17,616)	(15,200)
Proceeds from related parties loans		344
Net cash utilized by financing activities	(38,098)	(18,329)
Net increase in cash and cash equivalents	518,776	124,568
Cash and cash equivalents at the beginning of the quarter	436,165	965,750
Effect of exchange rate changes on cash and cash equivalents	(5,383)	47,126
Cash and cash equivalents at the end of the quarter	R 949,558	R 1,137,444

Revenue (Tables)

3 Months Ended

May 31, 2024

Disclosure of Revenue Text Block [Abstract]

Schedule of Revenue from Contracts with Customers is Disaggregated by Revenue Streams

In the following table, revenue from contract with customers is disaggregated by revenue streams, primary geographical markets and timing of revenue recognition.

	For the Three Months Ended May 31,
Figures in Rand thousands	2024		2023

Revenue from contracts with customers
Subscription revenue - Cartrack		959,603		834,232
Subscription revenue - Karooooo Logistics		4,165		2,165
Other revenue - Cartrack
Hardware sales		8,625		9,370
Installation revenue		7,578		7,157
Miscellaneous contract fees		3,169		2,670
Vehicle sales		2,099		81,563
Delivery service fees		96,586		59,630
Total revenue		1,081,825		996,787

Primary geographical markets
South Africa		801,110		752,043
Africa-Other		35,449		39,026
Europe		96,326		81,147
Asia-Pacific*, Middle East and USA		148,940		124,571
		1,081,825		996,787

Timing of revenue recognition
Products and services transferred at a point in time		118,057		160,390
Services transferred over time		963,768		836,397
Total revenue		1,081,825		996,787

*	Included in Asia-Pacific is revenue from Singapore amounted to ZAR 39.8 million (May 31, 2023: ZAR 39.0 million).

Unaudited Interim Condensed Consolidated Statements of Comprehensive Income - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Unaudited Interim Condensed Consolidated Statements of Comprehensive Income [Abstract]
Profit for the period	R 225,283	R 161,947
Items that may be reclassified to profit or loss in future periods:
Exchange differences on translating foreign operations	(53,133)	90,918
Other comprehensive income for the period	(53,133)	90,918
Total comprehensive income for the period net of income tax	172,150	252,865
Total comprehensive income attributable to:
Owners of the parent	169,481	245,693
Non-controlling interest	2,669	7,172
Total comprehensive income	R 172,150	R 252,865

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2023-01-01
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-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URIDate 2023-03-23

+ Details

Cash and Cash Equivalents and Bank Overdraft (Details) - Schedule of Cash and Cash Equivalents and Bank Overdraft - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Schedule of Cash and Cash Equivalents and Bank Overdraft [Abstract]
Cash on hand	R 557	R 1,965
Bank balances	230,002	457,366
Short-term deposits	765,495	196
Cash and cash equivalents in the consolidated statement of financial position	996,054	459,527
Bank overdrafts	(46,496)	(23,362)
Cash and cash equivalents in the consolidated statement of cash flows	949,558	436,165
Current assets	996,054	459,527
Current liabilities	(46,496)	(23,362)
Total cash and cash equivalents and bank overdraft	R 949,558	R 436,165

Share Capital, Treasury Shares and Reserves (Tables)

3 Months Ended

May 31, 2024

Share Capital, Treasury Shares and Reserves [Abstract]

Schedule of Share Capital

Figures in Rand thousands	As of May 31, 2024		As of February 29, 2024

Share Capital
Issued and fully paid 30,900,000 (February 29, 2024: 30,951,106) ordinary shares of no par value		7,131,059		7,142,853

Schedule of Treasury Shares

Treasury shares

Figures in Rand thousands	Treasury shares

At March 1, 2023		-
Treasury shares purchased		23,816
At February 29, 2024		23,816
Cancellation of treasury shares		(23,816	)
Treasury shares purchased		3,461
At May 31, 2024		3,461

Schedule of Other Capital Reserve

Other capital reserve

Figures in Rand thousands	Capital reserve		Other reserve		Total

At March 1, 2023 and February 29, 2024		3,582,568		-		3,582,568
Cancellation of treasury shares		-		12,022		12,022
Repurchase and cancellation of ordinary shares of a subsidiary		-		11,400		11,400
At May 31, 2024		3,582,568		23,422		3,605,990

Dividend (Details) R in Millions	Jul. 03, 2023 ZAR (R)
Dividend [Abstract]
Dividends amount	R 499.5

Document And Entity Information	3 Months Ended
Document And Entity Information	May 31, 2024
Document Information Line Items
Entity Registrant Name	KAROOOOO LTD.
Document Type	6-K
Current Fiscal Year End Date	--02-28
Amendment Flag	false
Entity Central Index Key	0001828102
Document Period End Date	May 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity File Number	001-40300

Goodwill

3 Months Ended

May 31, 2024

Goodwill [Abstract]

GOODWILL

6. GOODWILL

Goodwill is allocated to the following cash generating units (CGUs): Cartrack - Mozambique, Portugal, Spain and Other and Karooooo Logistics.

	Cartrack												Karooooo
Figures in Rand thousands	Mozambique			Portugal			Spain			Other			Logistics		Total

At March 1, 2023		82,277			34,469			24,432			12,989			58,314		212,481
Acquisition of subsidiary		-			-			-			6,223			-		6,223
Translation adjustments		4,423			2,899			2,055			2,134			-		11,511
At May 31, 2023		86,700			37,368			26,487			21,346			58,314		230,215

At March 1, 2024		86,304			36,815			26,095			19,852			58,314		227,380
Translation adjustments		(2,802	)		(1,179	)		(836	)		(947	)		-		(5,764	)
At May 31, 2024		83,502			35,636			25,259			18,905			58,314		221,616

Impairment testing

The Group performs its annual impairment test at the end of each financial year, or more frequently if there are indications that goodwill may be impaired. The recoverable amount of each cash-generating unit (CGU) with the exception of the Other CGUs and Cartrack Mozambique is determined using a discounted cash flow valuation technique. The Other CGUs and Cartrack Mozambique are valued on an earnings multiple basis. The key assumptions used to determine the recoverable amount for the different cash generating units were disclosed in the annual consolidated financial statements for the year ended February 29, 2024.

Management has considered the carrying amount of goodwill as of May 31, 2024 and since there is no indicators for impairment of any of the CGUs, management has not updated any of the impairment calculations. Having assessed the future anticipated cash flows, management believes that any reasonably possible changes in key assumptions would not result in an impairment of goodwill.

The Group considers the relationship between its market capitalization and its equity attributable to equity holders of the parent, among other factors, when performing the annual test of impairment. At May 31, 2024, the market capitalization of the Group exceeded the value of equity by ZAR 13.4 billion (February 29, 2024: ZAR 11.3 billion).

Segment Reporting (Details) - Schedule of Reconciliation of Information on Reportable Segments to the Amounts Reported in Consolidated Financial Statements - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023
Schedule of Reconciliation of Information on Reportable Segments to the Amounts Reported in Consolidated Financial Statements [Abstract]
Total segment operating profits	R 299,747	R 224,374
Finance income	11,213	10,878
Finance cost	(5,634)	(2,174)
Consolidated profit before taxation	R 305,326	R 233,078

Trade and Other Receivables and Prepayments (Tables)

3 Months Ended

May 31, 2024

Trade and Other Receivables and Prepayments [Abstract]

Schedule of Trade and Other Receivables and Prepayments

Figures in Rand thousands	As of May 31, 2024			As of February 29, 2024

Trade receivables		587,478			554,107
Expected credit loss provision		(175,848	)		(165,240	)
		411,630			388,867
Other receivables
Deposits		13,663			500,646
Sundry debtors		35,854			24,656
Finance lease receivables		16,251			17,326
Subtotal		477,398			931,495

Prepayments		107,766			55,778
Other taxes		27,742			16,956
Total trade and other receivables and prepayments		612,906			1,004,229


Non-current		17,059			18,831
Current		595,847			985,398
		612,906			1,004,229

Goodwill (Tables)

3 Months Ended

May 31, 2024

Goodwill [Abstract]

Schedule of Goodwill is Allocated to Cash Generating Units

Goodwill is allocated to the following cash generating units (CGUs): Cartrack - Mozambique, Portugal, Spain and Other and Karooooo Logistics.

	Cartrack												Karooooo
Figures in Rand thousands	Mozambique			Portugal			Spain			Other			Logistics		Total

At March 1, 2023		82,277			34,469			24,432			12,989			58,314		212,481
Acquisition of subsidiary		-			-			-			6,223			-		6,223
Translation adjustments		4,423			2,899			2,055			2,134			-		11,511
At May 31, 2023		86,700			37,368			26,487			21,346			58,314		230,215

At March 1, 2024		86,304			36,815			26,095			19,852			58,314		227,380
Translation adjustments		(2,802	)		(1,179	)		(836	)		(947	)		-		(5,764	)
At May 31, 2024		83,502			35,636			25,259			18,905			58,314		221,616

Segment Reporting (Details) - Schedule of Information about Geographical Areas - ZAR (R) R in Thousands	May 31, 2024	Feb. 29, 2024
Schedule of Information about Geographical Areas [Line Items]
Total	R 2,830,579	R 2,723,761
South Africa [Member]
Schedule of Information about Geographical Areas [Line Items]
Total	1,825,015	1,714,719
Africa-Other [Member]
Schedule of Information about Geographical Areas [Line Items]
Total	154,256	154,777
Europe [Member]
Schedule of Information about Geographical Areas [Line Items]
Total	366,870	355,904
Asia-Pacific, Middle East & USA [Member]
Schedule of Information about Geographical Areas [Line Items]
Total	R 484,438	R 498,361

New Standards and Amendments Adopted by the Group

3 Months Ended

May 31, 2024

New Standards and Amendments Adopted by the Group [Abstract]

NEW STANDARDS AND AMENDMENTS ADOPTED BY THE GROUP

3. NEW STANDARDS AND AMENDMENTS ADOPTED BY THE GROUP

The accounting policies adopted in the preparation of the unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended February 29, 2024, except for the adoption of new standards effective as of March 1, 2024. The adoption of new standards does not have an impact on the interim condensed financial statements to the Group. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

Property, Plant and Equipment (Details) - ZAR (R) R in Thousands	3 Months Ended
	May 31, 2024	May 31, 2023	Feb. 29, 2024
Property, Plant and Equipment [Abstract]
Group acquired assets	R 230,100	R 150,000
Carrying amount property under construction	304,100	109,000
Borrowing costs capitalized amount	R 1,240	1,270
Capitalization prime rate percentage	1.15%
Assets net book value	R 1,400	4,500
Net gain on disposal	500	R 1,000
Commitments for capital expenditure	126,400		R 151,700
Estimated redevelopment cost	R 402,900

Share Capital, Treasury Shares and Reserves

3 Months Ended

May 31, 2024

Share Capital, Treasury Shares and Reserves [Abstract]

SHARE CAPITAL, TREASURY SHARES AND RESERVES

9. SHARE CAPITAL, TREASURY SHARES AND RESERVES

Figures in Rand thousands	As of May 31, 2024		As of February 29, 2024

Share Capital
Issued and fully paid 30,900,000 (February 29, 2024: 30,951,106) ordinary shares of no par value		7,131,059		7,142,853

Treasury shares

Figures in Rand thousands	Treasury shares

At March 1, 2023		-
Treasury shares purchased		23,816
At February 29, 2024		23,816
Cancellation of treasury shares		(23,816	)
Treasury shares purchased		3,461
At May 31, 2024		3,461

During the financial year ended February 29, 2024, the Company acquired 51,106 shares in the open market of which 14,637 shares are held in trust by Cartrack Holdings Proprietary Ltd. The total amount paid to acquire the shares was ZAR 23.8 million and this was presented as a component within shareholder’s equity. Subsequently, these shares are being cancelled with effect on May 24, 2024.

During the quarter ended May 31, 2024, the Company acquired 6,700 shares in the open market, which are held in trust by Cartrack Holdings Proprietary Ltd. The total amount paid to acquire the shares was ZAR 3.5 million and this was presented as a component within shareholder’s equity. Subsequently, these shares are being cancelled with effect on June 18, 2024.

Other capital reserve

Figures in Rand thousands	Capital reserve		Other reserve		Total

At March 1, 2023 and February 29, 2024		3,582,568		-		3,582,568
Cancellation of treasury shares		-		12,022		12,022
Repurchase and cancellation of ordinary shares of a subsidiary		-		11,400		11,400
At May 31, 2024		3,582,568		23,422		3,605,990

Unaudited Interim Condensed Consolidated Statements of Profit and Loss (Parentheticals) - R / shares	3 Months Ended
	May 31, 2024	May 31, 2023
Profit or loss [abstract]
Diluted earnings per share (ZAR)	R 7.17	R 5.09