Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7B | 1.2B | 1.1B | 1.1B | 644.0M | 946.0M | 1.0B | 966.0M | 805.0M |
| Revenue Growth % | 39.9% | 13.9% | -6.7% | 76.2% | -31.9% | -8.5% | 7.0% | 20.0% | -- |
| Total Revenue | 1.7B | 1.2B | 1.1B | 1.1B | 644.0M | 946.0M | 1.0B | 966.0M | 805.0M |
| Cost Of Revenue | 1.5B | 1.0B | 859.0M | 946.0M | 480.0M | 744.0M | 795.0M | 787.0M | 683.0M |
| Gross Profit | 156.0M | 191.0M | 200.0M | 189.0M | 164.0M | 202.0M | 239.0M | 179.0M | 122.0M |
| Gross Margin % | 9.2% | 15.8% | 18.9% | 16.7% | 25.5% | 21.4% | 23.1% | 18.5% | 15.2% |
| Total Operating Cost | 1.6B | 1.2B | 997.0M | 1.0B | 544.0M | 827.0M | 923.0M | 884.0M | 797.0M |
| Selling Expenses | 10.0M | 10.4M | 10.7M | 7.6M | 6.8M | 5.9M | 55.1M | 55.9M | 54.5M |
| Admin Expenses | 41.8M | 59.0M | 58.5M | 50.0M | 38.6M | 52.0M | 52.7M | 40.7M | 38.4M |
| Rd Expenses | 33.9M | 46.4M | 51.7M | 8.7M | 10.1M | 9.0M | 15.7M | 8.3M | 137,400 |
| Finance Expenses | 3.0M | 4.7M | -8.8M | -3.1M | 361,500 | 2.4M | -5.8M | -17.8M | -15.1M |
| Operating Income | 84.1M | 115.0M | 160.0M | 143.0M | 119.0M | 124.0M | 118.0M | 88.9M | 7.9M |
| Operating Margin % | 5.0% | 9.5% | 15.1% | 12.6% | 18.5% | 13.1% | 11.4% | 9.2% | 1.0% |
| Non Operating Income | 1.6M | 587,900 | 181,200 | 141,000 | 229,500 | 35,000 | 15,800 | 193,500 | 25,000 |
| Non Operating Expenses | 786,000 | 435,100 | 68,700 | 647,600 | 210,100 | 1.4M | 200,200 | 45,200 | 161,500 |
| Investment Income | 30.1M | 44.9M | 94.3M | 24.5M | 4.9M | 2.1M | -- | -- | -- |
| Fair Value Change Income | 109,100 | 45,300 | 792,900 | 80,500 | -- | -- | -- | -- | -- |
| Asset Disposal Income | 866,300 | 2.1M | -826,700 | -- | 7.7M | -375,900 | -10,800 | 1.0M | -- |
| Asset Impairment Loss | 7.2M | 6.4M | 15.6M | 3.9M | 2.2M | 7.8M | 375,100 | 1.9M | 30.8M |
| Other Income | 2.6M | 12.3M | 3.3M | 6.0M | 5.4M | 3.1M | 7.4M | 5.1M | 283,900 |
| Income Before Tax | 84.9M | 115.0M | 160.0M | 142.0M | 119.0M | 123.0M | 118.0M | 89.1M | 7.8M |
| Income Tax | 13.1M | 14.4M | 21.1M | 20.1M | 16.7M | 19.3M | 18.8M | 14.6M | 1.6M |
| Net Income | 71.8M | 100.0M | 139.0M | 122.0M | 102.0M | 103.0M | 99.3M | 74.5M | 6.2M |
| Net Margin % | 4.3% | 8.3% | 13.1% | 10.7% | 15.8% | 10.9% | 9.6% | 7.7% | 0.8% |
| Net Income Attributable | 71.8M | 100.0M | 139.0M | 122.0M | 102.0M | 103.0M | 99.3M | 74.5M | 6.2M |
| Eps Basic | 0.15 | 0.21 | 0.29 | 0.27 | 0.28 | 0.29 | 0.29 | 0.22 | 0.02 |
| Eps Diluted | 0.15 | 0.21 | 0.29 | 0.27 | 0.28 | 0.29 | 0.29 | 0.22 | 0.02 |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 260.0M | 311.0M | 434.0M | 566.0M | 282.0M | 106.0M | 244.0M | 15.0M | 17.1M |
| Trading Financial Assets | 1.1B | 1.3B | 1.4B | 1.1B | -- | 200.0M | -- | -- | -- |
| Accounts Receivable | 174.0M | 77.8M | 72.6M | 42.8M | 29.2M | 14.2M | 17.7M | 21.9M | 15.5M |
| Notes Receivable | 165.0M | 180.0M | 76.3M | 131.0M | 85.9M | 88.0M | 179.0M | 151.0M | 164.0M |
| Notes And Accounts Receivable | 339.0M | 258.0M | 149.0M | 174.0M | 115.0M | 102.0M | 196.0M | 173.0M | 179.0M |
| Prepayments | 171.0M | 91.5M | 40.2M | 44.5M | 22.0M | 9.7M | 1.7M | 4.4M | 3.9M |
| Inventory | 89.7M | 72.2M | 43.9M | 46.8M | 89.2M | 75.5M | 65.7M | 112.0M | 115.0M |
| Total Current Assets | 2.1B | 2.0B | 2.2B | 1.9B | 524.0M | 542.0M | 541.0M | 589.0M | 834.0M |
| Fixed Assets | 280.0M | 245.0M | 240.0M | 155.0M | 94.5M | 67.8M | 80.8M | 93.3M | 100.0M |
| Fixed Assets Total | 281.0M | 246.0M | 240.0M | 156.0M | 95.5M | 68.6M | 82.5M | 94.2M | 101.0M |
| Construction In Progress | 12.0M | 17.8M | 16.4M | 55.4M | 90.9M | 27.8M | 4.1M | 1.1M | 5.0M |
| Construction In Progress Total | 28.8M | 35.2M | 37.5M | 84.8M | 120.0M | 45.1M | 17.4M | 7.7M | 11.5M |
| Intangible Assets | 19.9M | 23.0M | 25.3M | 19.0M | 20.3M | 18.7M | 19.5M | 20.3M | 20.4M |
| Long Term Deferred Expenses | 18.4M | 20.2M | 22.1M | 16.5M | 12.8M | 12.9M | 16.1M | 13.4M | 13.1M |
| Total Non Current Assets | 368.0M | 344.0M | 336.0M | 292.0M | 260.0M | 166.0M | 143.0M | 145.0M | 157.0M |
| Total Assets | 2.5B | 2.4B | 2.5B | 2.2B | 784.0M | 708.0M | 684.0M | 733.0M | 990.0M |
| Short Term Borrowings | 291.0M | 410.0M | 602.0M | 345.0M | 7.7M | 10.0M | -- | 80.0M | 60.0M |
| Accounts Payable | 56.1M | 56.1M | 49.5M | 53.6M | 31.2M | 22.3M | 64.1M | 76.5M | 48.7M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 21.4M | 8.1M | 9.6M |
| Contract Liabilities | 56.8M | 22.1M | 11.9M | 22.1M | 13.4M | 16.5M | -- | -- | -- |
| Total Current Liabilities | 724.0M | 640.0M | 744.0M | 554.0M | 122.0M | 143.0M | 262.0M | 316.0M | 266.0M |
| Total Non Current Liabilities | 2.0M | 564,600 | 2.7M | 10.5M | 8.5M | 11.7M | -- | -- | -- |
| Total Liabilities | 726.0M | 640.0M | 746.0M | 564.0M | 130.0M | 155.0M | 262.0M | 316.0M | 266.0M |
| Paid In Capital | 480.0M | 480.0M | 480.0M | 480.0M | 360.0M | 360.0M | 336.0M | 336.0M | 336.0M |
| Capital Reserve | 877.0M | 877.0M | 877.0M | 877.0M | 95.5M | 95.5M | 5.4M | 61,700 | 61,700 |
| Surplus Reserve | 41.8M | 41.0M | 40.7M | 27.4M | 19.6M | 9.5M | 65.0M | 55.1M | 47.7M |
| Retained Earnings | 327.0M | 333.0M | 352.0M | 265.0M | 175.0M | 83.4M | 14.4M | 25.0M | 338.0M |
| Equity Attributable | 1.7B | 1.7B | 1.8B | 1.7B | 654.0M | 552.0M | 422.0M | 417.0M | 724.0M |
| Total Equity | 1.7B | 1.7B | 1.8B | 1.7B | 654.0M | 552.0M | 422.0M | 417.0M | 724.0M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 | FY 2017Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 1.7B | 1.1B | 938.0M | 1.2B | 655.0M | 882.0M | 791.0M | 723.0M | 515.0M |
| Tax Refunds Received | 5.4M | 23.6M | 16.8M | 3.7M | -- | -- | -- | -- | -- |
| Total Operating Cash Inflow | 1.7B | 1.1B | 973.0M | 1.2B | 672.0M | 910.0M | 801.0M | 729.0M | 517.0M |
| Cash Paid For Goods | 1.5B | 939.0M | 730.0M | 919.0M | 499.0M | 682.0M | 518.0M | 492.0M | 448.0M |
| Cash Paid To Employees | 87.7M | 94.8M | 86.9M | 81.9M | 67.2M | 61.9M | 57.9M | 48.8M | 47.2M |
| Taxes Paid | 62.6M | 76.7M | 81.7M | 74.0M | 43.3M | 65.9M | 67.8M | 54.4M | 36.9M |
| Total Operating Cash Outflow | 1.7B | 1.1B | 933.0M | 1.1B | 636.0M | 837.0M | 656.0M | 606.0M | 540.0M |
| Operating Cash Flow | 23.1M | -19.9M | 39.4M | 129.0M | 36.2M | 73.6M | 145.0M | 124.0M | -23.3M |
| Total Investing Cash Inflow | 5.9B | 6.4B | 4.8B | 3.5B | 677.0M | 274.0M | 778.0M | 762.0M | 558.0M |
| Total Investing Cash Outflow | 5.8B | 6.1B | 5.2B | 4.6B | 534.0M | 513.0M | 512.0M | 491.0M | 521.0M |
| Investing Cash Flow | 126.0M | 208.0M | -400.0M | -1.1B | 143.0M | -240.0M | 267.0M | 271.0M | 36.6M |
| Cash From Borrowings | 697.0M | 879.0M | 1.1B | 458.0M | 7.7M | 100.0M | 80.0M | 80.0M | 60.0M |
| Dividends And Interest Paid | 78.9M | 125.0M | 43.9M | 28.3M | 15,000 | 3.9M | 104.0M | 383.0M | 1.5M |
| Debt Repayments | 817.0M | 1.1B | 812.0M | 121.0M | 10.0M | 90.0M | 160.0M | 60.0M | 100.0M |
| Total Financing Cash Inflow | 755.0M | 1.0B | 1.1B | 1.4B | 7.7M | 154.0M | 80.0M | 80.0M | 60.0M |
| Total Financing Cash Outflow | 957.0M | 1.3B | 929.0M | 157.0M | 10.3M | 124.0M | 264.0M | 477.0M | 102.0M |
| Financing Cash Flow | -201.0M | -250.0M | 154.0M | 1.2B | -2.6M | 29.3M | -184.0M | -397.0M | -41.5M |
| Net Change In Cash | -52.8M | -61.6M | -196.0M | 276.0M | 176.0M | -138.0M | 229.0M | -2.2M | -29.1M |
| Ending Cash Balance | 248.0M | 301.0M | 362.0M | 559.0M | 282.0M | 106.0M | 244.0M | 15.0M | 17.1M |
| Capex | 31.4M | 35.9M | 49.7M | 48.6M | 74.3M | 43.4M | 8.3M | 3.6M | 2.0M |