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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 672.0M | 726.0M | 651.0M | 627.0M | 514.0M | 433.0M | 407.0M | 295.0M |
| Revenue Growth % | -7.4% | 11.5% | 3.8% | 22.0% | 18.7% | 6.4% | 38.0% | -- |
| Total Revenue | 672.0M | 726.0M | 651.0M | 627.0M | 514.0M | 433.0M | 407.0M | 295.0M |
| Cost Of Revenue | 438.0M | 432.0M | 392.0M | 404.0M | 308.0M | 236.0M | 242.0M | 226.0M |
| Gross Profit | 234.0M | 294.0M | 259.0M | 223.0M | 206.0M | 197.0M | 165.0M | 69.0M |
| Gross Margin % | 34.8% | 40.5% | 39.8% | 35.6% | 40.1% | 45.5% | 40.5% | 23.4% |
| Total Operating Cost | 556.0M | 548.0M | 490.0M | 488.0M | 384.0M | 294.0M | 281.0M | 269.0M |
| Selling Expenses | 5.5M | 5.7M | 4.9M | 2.7M | 2.1M | 1.8M | 6.0M | 6.9M |
| Admin Expenses | 50.5M | 41.9M | 39.6M | 36.1M | 29.5M | 23.5M | 19.6M | 19.3M |
| Rd Expenses | 46.2M | 55.5M | 52.0M | 30.0M | 20.6M | 20.6M | 17.1M | 10.4M |
| Finance Expenses | -786,300 | -2.8M | -2.6M | 5.5M | 6.7M | 4.1M | -4.3M | -2.3M |
| Operating Income | 135.0M | 199.0M | 183.0M | 143.0M | 133.0M | 140.0M | 126.0M | 27.3M |
| Operating Margin % | 20.1% | 27.4% | 28.1% | 22.8% | 25.9% | 32.3% | 31.0% | 9.3% |
| Non Operating Income | 286,300 | 40,000 | 14,000 | 698,400 | 38,900 | 143,000 | 198,900 | 6.0M |
| Non Operating Expenses | 948,300 | 1.3M | 1.6M | 434,800 | 617,700 | 3.2M | 145,000 | 326,800 |
| Investment Income | 9.9M | 14.0M | 16.9M | 167,000 | 2,134 | -- | 214,800 | -- |
| Fair Value Change Income | 188,700 | -231,400 | 41,100 | 1.4M | 166,100 | -- | -- | -- |
| Asset Disposal Income | -- | -- | 66,900 | -442,700 | -206,800 | -117,600 | -31,200 | -400.00 |
| Asset Impairment Loss | 10.3M | 7.1M | 914,600 | -- | -- | -- | -- | 3.1M |
| Other Income | 8.2M | 6.1M | 4.0M | 1.7M | 2.9M | 1.8M | 377,500 | 841,100 |
| Income Before Tax | 134.0M | 197.0M | 181.0M | 143.0M | 132.0M | 137.0M | 126.0M | 33.0M |
| Income Tax | 14.1M | 24.3M | 24.0M | 11.2M | 17.1M | 19.0M | 17.0M | 4.4M |
| Net Income | 120.0M | 173.0M | 157.0M | 132.0M | 115.0M | 118.0M | 109.0M | 28.6M |
| Net Margin % | 17.9% | 23.8% | 24.1% | 21.1% | 22.4% | 27.3% | 26.8% | 9.7% |
| Net Income Attributable | 121.0M | 174.0M | 159.0M | 132.0M | 115.0M | 118.0M | 109.0M | 28.6M |
| Minority Interest | -1.2M | -617,300 | -1.8M | -596,700 | -154,500 | -- | -- | -- |
| Eps Basic | 0.31 | 0.44 | 0.57 | 0.86 | 1.15 | 1.19 | 1.10 | 0.29 |
| Eps Diluted | 0.31 | 0.44 | 0.57 | 0.86 | 1.15 | 1.19 | 1.10 | 0.29 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 169.0M | 282.0M | 270.0M | 51.1M | 34.2M | 36.3M | 20.0M | 7.5M |
| Trading Financial Assets | 550.0M | 525.0M | 589.0M | 701.0M | 8.7M | -- | 34.2M | -- |
| Accounts Receivable | 131.0M | 150.0M | 109.0M | 179.0M | 151.0M | 95.3M | 54.3M | 41.6M |
| Notes Receivable | 86.0M | 114.0M | 69.0M | 87.5M | 76.2M | 34.2M | 57.0M | 63.2M |
| Notes And Accounts Receivable | 217.0M | 264.0M | 178.0M | 267.0M | 227.0M | 130.0M | 111.0M | 105.0M |
| Prepayments | 2.1M | 2.6M | 19.6M | 2.4M | 1.3M | 1.5M | 1.7M | 1.2M |
| Inventory | 72.4M | 45.1M | 31.0M | 53.5M | 78.6M | 49.4M | 32.0M | 14.6M |
| Total Current Assets | 1.1B | 1.2B | 1.2B | 1.2B | 401.0M | 268.0M | 224.0M | 335.0M |
| Fixed Assets | 640.0M | 349.0M | 278.0M | 235.0M | 193.0M | 178.0M | 168.0M | 159.0M |
| Fixed Assets Total | 640.0M | 349.0M | 278.0M | 235.0M | 193.0M | 178.0M | 168.0M | 159.0M |
| Construction In Progress | 13.5M | 222.0M | 107.0M | 55.4M | 33.0M | 32.5M | 4.0M | 8.8M |
| Construction In Progress Total | 13.5M | 222.0M | 107.0M | 55.4M | 33.0M | 32.5M | 4.0M | 8.8M |
| Intangible Assets | 50.0M | 36.8M | 38.1M | 38.8M | 39.7M | 39.9M | 40.9M | 41.8M |
| Long Term Deferred Expenses | 1.3M | 3.4M | 5.6M | 1.3M | -- | -- | -- | -- |
| Total Non Current Assets | 713.0M | 619.0M | 453.0M | 347.0M | 267.0M | 253.0M | 215.0M | 248.0M |
| Total Assets | 1.8B | 1.8B | 1.6B | 1.5B | 668.0M | 522.0M | 438.0M | 583.0M |
| Short Term Borrowings | -- | 730,000 | -- | -- | 91.3M | 90.1M | 69.5M | 39.5M |
| Accounts Payable | 97.7M | 138.0M | 87.8M | 95.1M | 75.1M | 43.5M | 41.1M | 46.9M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 8.0M | 440,100 |
| Contract Liabilities | 3.3M | 5.3M | 4.4M | 4.6M | 1.7M | 409,800 | -- | -- |
| Total Current Liabilities | 170.0M | 217.0M | 139.0M | 156.0M | 221.0M | 178.0M | 236.0M | 181.0M |
| Long Term Borrowings | -- | -- | -- | -- | 30.4M | 20.0M | -- | -- |
| Total Non Current Liabilities | 58.1M | 53.9M | 20.5M | 18.6M | 40.9M | 30.8M | 11.1M | 11.3M |
| Total Liabilities | 228.0M | 271.0M | 160.0M | 175.0M | 262.0M | 209.0M | 247.0M | 192.0M |
| Paid In Capital | 392.0M | 280.0M | 200.0M | 133.0M | 100.0M | 100.0M | 99.0M | 99.0M |
| Capital Reserve | 533.0M | 645.0M | 725.0M | 791.0M | 5.5M | 1.8M | 313,000 | 313,000 |
| Surplus Reserve | 112.0M | 99.2M | 80.8M | 63.6M | 50.0M | 50.0M | 44.0M | 33.1M |
| Retained Earnings | 508.0M | 511.0M | 436.0M | 361.0M | 242.0M | 158.0M | 45.1M | 257.0M |
| Minority Equity | -326,700 | 854,200 | 1.5M | 3.2M | 3.8M | -- | -- | -- |
| Equity Attributable | 1.6B | 1.5B | 1.4B | 1.4B | 403.0M | 313.0M | 191.0M | 391.0M |
| Total Equity | 1.6B | 1.5B | 1.4B | 1.4B | 406.0M | 313.0M | 191.0M | 391.0M |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 444.0M | 385.0M | 559.0M | 381.0M | 310.0M | 245.0M | 238.0M | 106.0M |
| Tax Refunds Received | 112,000 | -- | 13.3M | 225,800 | -- | -- | -- | 644,400 |
| Total Operating Cash Inflow | 455.0M | 426.0M | 578.0M | 384.0M | 313.0M | 247.0M | 239.0M | 108.0M |
| Cash Paid For Goods | 174.0M | 120.0M | 156.0M | 159.0M | 149.0M | 103.0M | 111.0M | 59.0M |
| Cash Paid To Employees | 99.5M | 99.0M | 83.9M | 67.0M | 61.5M | 46.3M | 39.1M | 26.9M |
| Taxes Paid | 38.7M | 53.7M | 56.8M | 66.9M | 43.8M | 43.9M | 43.5M | 19.4M |
| Total Operating Cash Outflow | 338.0M | 300.0M | 318.0M | 302.0M | 264.0M | 199.0M | 199.0M | 113.0M |
| Operating Cash Flow | 117.0M | 127.0M | 259.0M | 82.8M | 49.1M | 47.9M | 39.4M | -4.2M |
| Total Investing Cash Inflow | 3.0B | 3.9B | 3.8B | 8.9M | 1.1M | 119,400 | 20.0M | 22,000 |
| Total Investing Cash Outflow | 3.1B | 3.9B | 3.8B | 774.0M | 34.9M | 17.0M | 24.7M | 25.2M |
| Investing Cash Flow | -115.0M | -32.4M | 33.5M | -765.0M | -33.8M | -16.8M | -4.7M | -25.2M |
| Cash From Borrowings | -- | -- | -- | 85.2M | 105.0M | 110.0M | 69.5M | 49.0M |
| Dividends And Interest Paid | 112.0M | 80.0M | 66.7M | 6.8M | 36.7M | 54.5M | 4.2M | 4.5M |
| Debt Repayments | -- | -- | -- | 200.0M | 100.0M | 71.5M | 99.5M | 79.5M |
| Total Financing Cash Inflow | -- | -- | -- | 928.0M | 122.0M | 133.0M | 167.0M | 167.0M |
| Total Financing Cash Outflow | 114.0M | 83.3M | 69.4M | 229.0M | 144.0M | 147.0M | 189.0M | 138.0M |
| Financing Cash Flow | -114.0M | -83.3M | -69.4M | 699.0M | -21.2M | -13.7M | -21.7M | 29.4M |
| Net Change In Cash | -112.0M | 11.1M | 224.0M | 16.1M | -5.9M | 17.3M | 13.0M | -5,100 |
| Ending Cash Balance | 169.0M | 281.0M | 270.0M | 46.5M | 30.4M | 36.3M | 19.0M | 6.0M |
| Capex | 101.0M | 111.0M | 96.5M | 74.3M | 25.4M | 17.0M | 9.7M | 8.4M |