TROPICAL– Audited Financial Statements For The Year Ended 30/9/2025
Tropical Battery Company Limited (TROPICAL) Audited Financial Statements For Year ending September 30, 2025, along with Top 10 Shareholders, Directors and Senior Managers as at September 30, 2025.
Executive Summary As of the fiscal year ended September 30, 2025, Tropical Battery Company Limited (the “Group”) has demonstrated a significant financial turnaround. This recovery was driven by a 14.6% increase in gross operating revenue, totalling $6.44 billion, and the strategic integration of major acquisitions, most notably Rose Electronics Distributing Company LLC (Rose Batteries). Critical takeaways from the 2025 audit include:
• Market Transition: The Group successfully migrated from the Jamaica Stock Exchange (JSE) Junior Market to the JSE Main Market on August 19, 2025.
• Strategic Growth: The acquisition of Rose Batteries has significantly expanded the Group’s footprint into the U.S. market, specifically within the aerospace, defense, and medical device sectors.
• Capital Strengthening: An Additional Public Offering (APO) generated approximately $643 million in net proceeds, which was primarily utilized for debt reduction and enhancing liquidity.
• Net Current Assets: Improved to $270.9 million from a deficit of $34.7 million in FY2024.
• Cash Flow Stabilisation: Operating cash flow returned to a positive $60.1 million, compared to a $377.9 million outflow in the prior year.
• Operational Milestones: Key achievements included a 38% increase in industrial charging capacity, the commissioning of a new water production facility, and the export of 696 metric tonnes of spent batteries.
• Revenue Growth: Gross operating revenue increased by 14.6% to $6.44 billion, driven by core battery distribution and international subsidiary contributions.
• Return to Profitability: The Group recorded a net profit of $59.7 million, a significant recovery from the $121.4 million net loss reported in FY2024.
Key Financial Metrics (J$ Millions) Metric FY2025 FY2024 (Restated) YOY Change Gross Operating Revenue $6,442.7 $5,622.3 +14.6% Gross Profit $2,355.8 $1,864.1 +26.4% Operating Profit $527.0 $418.8 +25.8% EBITDA $785.1 $429.6 +82.8% Net Profit / (Loss) $59.7 ($121.4) N.M. Shareholders’ Equity $1,597.9 $1,049.7 +52.2%
Executive Summary As of the fiscal year ended September 30, 2025, Tropical Battery Company Limited (the “Group”) has demonstrated a significant financial turnaround. This recovery was driven by a 14.6% increase in gross operating revenue, totalling $6.44 billion, and the strategic integration of major acquisitions, most notably Rose Electronics Distributing Company LLC (Rose Batteries). Critical takeaways from the 2025 audit include:
• Market Transition: The Group successfully migrated from the Jamaica Stock Exchange (JSE) Junior Market to the JSE Main Market on August 19, 2025.
• Strategic Growth: The acquisition of Rose Batteries has significantly expanded the Group’s footprint into the U.S. market, specifically within the aerospace, defense, and medical device sectors.
• Capital Strengthening: An Additional Public Offering (APO) generated approximately $643 million in net proceeds, which was primarily utilized for debt reduction and enhancing liquidity.
• Net Current Assets: Improved to $270.9 million from a deficit of $34.7 million in FY2024.
• Cash Flow Stabilisation: Operating cash flow returned to a positive $60.1 million, compared to a $377.9 million outflow in the prior year.
• Operational Milestones: Key achievements included a 38% increase in industrial charging capacity, the commissioning of a new water production facility, and the export of 696 metric tonnes of spent batteries.
• Revenue Growth: Gross operating revenue increased by 14.6% to $6.44 billion, driven by core battery distribution and international subsidiary contributions.
• Return to Profitability: The Group recorded a net profit of $59.7 million, a significant recovery from the $121.4 million net loss reported in FY2024.
Key Financial Metrics (J$ Millions) Metric FY2025 FY2024 (Restated) YOY Change Gross Operating Revenue $6,442.7 $5,622.3 +14.6% Gross Profit $2,355.8 $1,864.1 +26.4% Operating Profit $527.0 $418.8 +25.8% EBITDA $785.1 $429.6 +82.8% Net Profit / (Loss) $59.7 ($121.4) N.M. Shareholders’ Equity $1,597.9 $1,049.7 +52.2%
