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 | 727.0M | 645.0M | 613.0M | 518.0M | 596.0M | 552.0M | 453.0M | 454.0M | 474.0M |
| Revenue Growth % | 12.7% | 5.2% | 18.3% | -13.1% | 8.0% | 21.9% | -0.2% | -4.2% | -- |
| Total Revenue | 727.0M | 645.0M | 613.0M | 518.0M | 596.0M | 552.0M | 453.0M | 454.0M | 474.0M |
| Cost Of Revenue | 478.0M | 430.0M | 424.0M | 378.0M | 370.0M | 322.0M | 261.0M | 250.0M | 241.0M |
| Gross Profit | 249.0M | 215.0M | 189.0M | 140.0M | 226.0M | 230.0M | 192.0M | 204.0M | 233.0M |
| Gross Margin % | 34.3% | 33.3% | 30.8% | 27.0% | 37.9% | 41.7% | 42.4% | 44.9% | 49.2% |
| Total Operating Cost | 701.0M | 612.0M | 582.0M | 512.0M | 493.0M | 421.0M | 379.0M | 354.0M | 338.0M |
| Selling Expenses | 19.1M | 8.6M | 3.8M | 5.3M | 4.5M | 3.9M | 11.0M | 11.0M | 12.6M |
| Admin Expenses | 121.0M | 111.0M | 88.5M | 75.5M | 70.7M | 50.7M | 50.3M | 45.7M | 40.4M |
| Rd Expenses | 42.5M | 36.8M | 35.7M | 32.9M | 34.8M | 25.9M | 25.7M | 24.3M | 19.4M |
| Finance Expenses | -2.4M | 2.1M | 1.6M | 4.0M | 8.5M | 10.8M | 12.1M | 16.3M | 16.1M |
| Operating Income | 43.1M | 54.5M | 45.3M | 18.9M | 109.0M | 139.0M | 85.7M | 110.0M | 148.0M |
| Operating Margin % | 5.9% | 8.4% | 7.4% | 3.6% | 18.3% | 25.2% | 18.9% | 24.2% | 31.2% |
| Non Operating Income | 100.00 | 54,800 | 5.0M | 82,100 | 3.0M | -- | 500.00 | -- | 230,800 |
| Non Operating Expenses | 8.4M | 760,800 | 860,900 | 165,600 | 153,500 | 400,100 | 325,200 | 349,100 | 6.7M |
| Investment Income | 7.2M | 11.8M | 6.0M | 5.5M | -1.4M | -369,000 | -81,700 | -- | -- |
| Fair Value Change Income | 75,600 | 103,300 | -7,100 | -59,100 | -14,500 | -- | -- | -- | -- |
| Asset Disposal Income | 77,700 | 47,000 | 8,000 | -120,100 | -96,300 | -278,800 | 27,700 | 48,900 | -181,300 |
| Asset Impairment Loss | 30.1M | 13.9M | 17.7M | 11.3M | 1.5M | 1.4M | 2.8M | -1.0M | 1.3M |
| Other Income | 9.7M | 9.7M | 8.3M | 7.7M | 7.1M | 8.1M | 11.8M | 10.0M | 11.8M |
| Income Before Tax | 34.7M | 53.8M | 49.5M | 18.8M | 112.0M | 139.0M | 85.4M | 110.0M | 141.0M |
| Income Tax | 1.7M | 1.8M | 4.6M | -1.6M | 12.6M | 18.5M | 13.2M | 18.3M | 24.4M |
| Net Income | 32.9M | 51.9M | 44.9M | 20.4M | 98.9M | 120.0M | 72.1M | 91.3M | 117.0M |
| Net Margin % | 4.5% | 8.1% | 7.3% | 3.9% | 16.6% | 21.7% | 15.9% | 20.1% | 24.7% |
| Net Income Attributable | 31.2M | 53.4M | 45.9M | 20.9M | 99.1M | 120.0M | 66.8M | 79.0M | 103.0M |
| Minority Interest | 1.8M | -1.4M | -1.0M | -449,700 | -189,900 | -- | 5.4M | 12.3M | 13.6M |
| Eps Basic | 0.21 | 0.36 | 0.31 | 0.14 | 0.88 | 1.09 | 0.67 | -- | -- |
| Eps Diluted | 0.21 | 0.36 | 0.31 | 0.14 | 0.88 | 1.09 | 0.67 | -- | -- |
| 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 | 139.0M | 158.0M | 211.0M | 329.0M | 187.0M | 59.9M | 17.2M | 11.5M | 40.7M |
| Trading Financial Assets | 40.3M | 194,200 | 90,900 | 98,000 | 245.0M | -- | -- | -- | -- |
| Accounts Receivable | 206.0M | 186.0M | 178.0M | 138.0M | 144.0M | 165.0M | 138.0M | 126.0M | 156.0M |
| Notes Receivable | 3.4M | 6.3M | 5.1M | 6.8M | 8.0M | 5.8M | 2.8M | 71.9M | 60.5M |
| Notes And Accounts Receivable | 210.0M | 193.0M | 183.0M | 145.0M | 153.0M | 171.0M | 140.0M | 198.0M | 217.0M |
| Prepayments | 2.0M | 3.3M | 4.8M | 3.0M | 1.5M | 756,000 | 993,200 | 1.4M | 996,600 |
| Inventory | 213.0M | 187.0M | 181.0M | 198.0M | 207.0M | 135.0M | 122.0M | 133.0M | 115.0M |
| Total Current Assets | 674.0M | 625.0M | 729.0M | 729.0M | 906.0M | 462.0M | 368.0M | 347.0M | 380.0M |
| Long Term Equity Investment | 91.8M | 84.8M | 70.0M | 62.0M | 4.8M | 5.3M | 5.2M | -- | -- |
| Fixed Assets | 696.0M | 717.0M | 725.0M | 505.0M | 478.0M | 374.0M | 451.0M | 456.0M | -- |
| Fixed Assets Total | 696.0M | 717.0M | 725.0M | 505.0M | 478.0M | 374.0M | 451.0M | 456.0M | 381.0M |
| Construction In Progress | 42.3M | 42.0M | 55.4M | 202.0M | 34.0M | 6.7M | 1.4M | 6.0M | -- |
| Construction In Progress Total | 42.3M | 42.0M | 55.4M | 202.0M | 34.0M | 6.7M | 1.4M | 6.0M | 43.8M |
| Intangible Assets | 94.4M | 94.5M | 93.9M | 96.2M | 98.6M | 37.7M | 60.1M | 59.3M | 60.4M |
| Long Term Deferred Expenses | 681,200 | 222,500 | 311,500 | 400,500 | -- | -- | -- | 178,500 | 484,500 |
| Total Non Current Assets | 946.0M | 970.0M | 967.0M | 893.0M | 632.0M | 523.0M | 527.0M | 534.0M | 533.0M |
| Total Assets | 1.6B | 1.6B | 1.7B | 1.6B | 1.5B | 985.0M | 895.0M | 881.0M | 913.0M |
| Short Term Borrowings | 57.0M | 40.0M | 83.1M | 153.0M | 46.6M | 156.0M | 140.0M | 154.0M | 194.0M |
| Accounts Payable | 128.0M | 121.0M | 118.0M | 97.9M | 86.9M | 63.7M | 53.6M | 75.4M | 50.9M |
| Advance Receipts | -- | -- | -- | -- | -- | 689,000 | 85,200 | 46,600 | 1.4M |
| Contract Liabilities | 410,900 | 463,100 | 179,000 | 44,300 | 156,600 | 178,900 | -- | -- | -- |
| Total Current Liabilities | 314.0M | 272.0M | 355.0M | 304.0M | 230.0M | 296.0M | 285.0M | 427.0M | 356.0M |
| Long Term Borrowings | -- | -- | -- | -- | -- | 30.0M | 60.0M | -- | -- |
| Total Non Current Liabilities | 41.3M | 41.7M | 40.6M | 32.3M | 13.4M | 38.8M | 67.8M | 13.4M | 1.7M |
| Total Liabilities | 355.0M | 314.0M | 396.0M | 336.0M | 243.0M | 334.0M | 353.0M | 441.0M | 358.0M |
| Paid In Capital | 147.0M | 147.0M | 147.0M | 147.0M | 147.0M | 110.0M | 110.0M | 100.0M | 16.0M |
| Capital Reserve | 809.0M | 809.0M | 809.0M | 809.0M | 809.0M | 280.0M | 280.0M | -- | 5.3M |
| Surplus Reserve | 58.3M | 54.1M | 49.4M | 43.4M | 41.5M | 27.7M | 8.9M | 5.9M | 22.0M |
| Retained Earnings | 259.0M | 283.0M | 296.0M | 287.0M | 298.0M | 233.0M | 144.0M | 293.0M | 479.0M |
| Minority Equity | 1.7M | -1.6M | -1.2M | -149,700 | -- | -- | -- | 41.2M | 31.9M |
| Equity Attributable | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 650.0M | 542.0M | 399.0M | 522.0M |
| Total Equity | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 650.0M | 542.0M | 441.0M | 554.0M |
| 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 | 635.0M | 633.0M | 463.0M | 474.0M | 441.0M | 405.0M | 327.0M | 379.0M | 320.0M |
| Tax Refunds Received | 1.8M | 69,900 | 598,700 | 11.1M | 3.5M | 412,400 | 342,200 | 2.8M | 8.6M |
| Total Operating Cash Inflow | 644.0M | 639.0M | 488.0M | 505.0M | 460.0M | 420.0M | 340.0M | 394.0M | 336.0M |
| Cash Paid For Goods | 237.0M | 261.0M | 159.0M | 187.0M | 116.0M | 98.9M | 58.4M | 86.7M | 80.0M |
| Cash Paid To Employees | 207.0M | 187.0M | 171.0M | 164.0M | 168.0M | 110.0M | 97.6M | 97.6M | 90.2M |
| Taxes Paid | 47.8M | 41.7M | 35.4M | 19.8M | 46.7M | 60.2M | 54.8M | 70.4M | 74.6M |
| Total Operating Cash Outflow | 551.0M | 526.0M | 397.0M | 408.0M | 360.0M | 284.0M | 237.0M | 278.0M | 277.0M |
| Operating Cash Flow | 92.8M | 113.0M | 90.9M | 97.4M | 100.0M | 136.0M | 103.0M | 115.0M | 59.2M |
| Total Investing Cash Inflow | 30.6M | 80.5M | 156.0M | 530.0M | 6.4M | 1.8M | 305,000 | 1.6M | 206.0M |
| Total Investing Cash Outflow | 121.0M | 129.0M | 254.0M | 557.0M | 348.0M | 35.3M | 46.7M | 36.4M | 242.0M |
| Investing Cash Flow | -90.5M | -48.5M | -98.2M | -27.0M | -342.0M | -33.6M | -46.4M | -34.7M | -35.6M |
| Cash From Borrowings | 104.0M | 70.0M | 96.0M | 149.0M | 199.0M | 156.0M | 277.0M | 169.0M | 206.0M |
| Dividends And Interest Paid | 42.0M | 63.2M | 34.4M | 35.1M | 29.3M | 23.2M | 165.0M | 17.3M | 46.0M |
| Debt Repayments | 87.0M | 113.0M | 166.0M | 42.5M | 368.0M | 176.0M | 211.0M | 262.0M | 154.0M |
| Total Financing Cash Inflow | 105.0M | 71.0M | 96.0M | 149.0M | 796.0M | 156.0M | 370.0M | 170.0M | 242.0M |
| Total Financing Cash Outflow | 131.0M | 187.0M | 201.0M | 83.5M | 427.0M | 215.0M | 420.0M | 280.0M | 237.0M |
| Financing Cash Flow | -25.4M | -116.0M | -105.0M | 65.8M | 368.0M | -59.3M | -50.4M | -110.0M | 5.2M |
| Net Change In Cash | -19.7M | -53.0M | -112.0M | 137.0M | 127.0M | 42.6M | 5.8M | -29.2M | 28.8M |
| Ending Cash Balance | 139.0M | 158.0M | 211.0M | 323.0M | 187.0M | 59.9M | 17.2M | 11.5M | 40.7M |
| Capex | 46.1M | 46.5M | 102.0M | 215.0M | 103.0M | 30.9M | 41.0M | 36.4M | 48.3M |