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 | FY 2016Dec 31, 2016 | FY 2015Dec 31, 2015 | FY 2014Dec 31, 2014 | FY 2013Dec 31, 2013 | FY 2012Dec 31, 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.9B | 2.2B | 1.9B | 1.4B | 954.0M | 487.0M | 491.0M | 421.0M | 383.0M | 311.0M | 253.0M | 225.0M | 173.0M | 86.7M |
| Revenue Growth % | 31.4% | 12.4% | 36.6% | 48.7% | 95.9% | -0.8% | 16.6% | 9.9% | 23.2% | 22.9% | 12.4% | 30.1% | 99.6% | -- |
| Total Revenue | 2.9B | 2.2B | 1.9B | 1.4B | 954.0M | 487.0M | 491.0M | 421.0M | 383.0M | 311.0M | 253.0M | 225.0M | 173.0M | 86.7M |
| Cost Of Revenue | 2.3B | 1.6B | 1.2B | 870.0M | 646.0M | 287.0M | 265.0M | 254.0M | 250.0M | 193.0M | 170.0M | 151.0M | 133.0M | 75.6M |
| Gross Profit | 609.0M | 543.0M | 785.0M | 549.0M | 308.0M | 200.0M | 226.0M | 167.0M | 133.0M | 118.0M | 83.0M | 74.0M | 40.0M | 11.1M |
| Gross Margin % | 21.3% | 24.9% | 40.5% | 38.7% | 32.3% | 41.1% | 46.0% | 39.7% | 34.7% | 37.9% | 32.8% | 32.9% | 23.1% | 12.8% |
| Total Operating Cost | 2.8B | 2.0B | 1.5B | 1.1B | 790.0M | 376.0M | 355.0M | 343.0M | 317.0M | 243.0M | 210.0M | 207.0M | 164.0M | 95.2M |
| Selling Expenses | 71.5M | 63.6M | 50.4M | 29.3M | 15.3M | 7.0M | 16.7M | 14.3M | 11.7M | 9.8M | 7.4M | 8.8M | 5.4M | 3.7M |
| Admin Expenses | 208.0M | 158.0M | 122.0M | 113.0M | 64.7M | 35.8M | 33.1M | 44.8M | 21.0M | 36.2M | 26.4M | 41.3M | 17.2M | 7.7M |
| Rd Expenses | 151.0M | 124.0M | 109.0M | 78.6M | 52.8M | 30.1M | 30.0M | 21.7M | 19.8M | -- | -- | -- | -- | -- |
| Finance Expenses | 43.7M | 22.6M | 3.1M | -6.7M | -207,300 | 7.2M | 2.9M | 3.7M | 9.5M | 1.2M | 1.6M | 4.7M | 9.1M | 6.4M |
| Operating Income | 130.0M | 199.0M | 511.0M | 342.0M | 186.0M | 132.0M | 146.0M | 84.5M | 73.0M | 68.0M | 45.9M | 22.2M | 12.1M | -5.9M |
| Operating Margin % | 4.5% | 9.1% | 26.4% | 24.1% | 19.5% | 27.1% | 29.7% | 20.1% | 19.1% | 21.9% | 18.2% | 9.8% | 7.0% | -6.9% |
| Non Operating Income | 677,100 | 3.4M | 1.6M | 6.4M | 6.8M | 8.9M | 2.2M | 2.7M | 1.9M | 5.4M | 4.2M | 3.9M | 1.7M | 1.9M |
| Non Operating Expenses | 4.8M | 1.3M | 6.2M | 5.5M | 2.4M | 1.3M | 2.4M | 660,800 | 770,500 | 214,200 | 244,100 | 161,900 | 160,100 | 76,700 |
| Investment Income | -915,400 | 853,100 | 2.9M | 8.2M | 5.5M | -- | -- | -- | -- | -- | 2.5M | 3.9M | 3.2M | 2.6M |
| Fair Value Change Income | -- | -- | -313,200 | -749,400 | 1.1M | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Asset Disposal Income | 122,600 | -64,200 | -5,200 | 23,500 | -66,400 | 15,700 | 9,500 | -- | -- | -- | -- | -- | -- | -- |
| Asset Impairment Loss | 13.7M | 3.2M | 2.9M | 53,000 | 6.0M | 2.9M | 154,200 | 360,200 | 703,300 | 522,400 | 2.4M | -187,300 | -510,300 | 1.6M |
| Other Income | 26.9M | 39.7M | 21.1M | 10.7M | 16.0M | 21.1M | 10.1M | 6.6M | 7.1M | -- | -- | -- | -- | -- |
| Income Before Tax | 126.0M | 201.0M | 506.0M | 343.0M | 191.0M | 140.0M | 146.0M | 86.5M | 74.1M | 73.2M | 49.9M | 25.9M | 13.7M | -4.1M |
| Income Tax | 1.7M | 16.8M | 59.7M | 23.6M | 22.6M | 18.8M | 19.4M | 11.0M | 9.3M | 11.4M | 7.1M | 2.9M | 1.0M | -319,000 |
| Net Income | 124.0M | 185.0M | 447.0M | 319.0M | 168.0M | 121.0M | 126.0M | 75.5M | 64.9M | 61.8M | 42.8M | 23.0M | 12.7M | -3.8M |
| Net Margin % | 4.3% | 8.5% | 23.1% | 22.5% | 17.6% | 24.8% | 25.7% | 17.9% | 16.9% | 19.9% | 16.9% | 10.2% | 7.3% | -4.4% |
| Net Income Attributable | 132.0M | 190.0M | 449.0M | 320.0M | 168.0M | 121.0M | 126.0M | 75.5M | 64.9M | 61.8M | 42.8M | 23.0M | 13.0M | -3.8M |
| Minority Interest | -8.6M | -5.0M | -2.5M | -687,900 | -- | -- | -- | -- | -- | -- | -- | -- | -345,300 | -- |
| Eps Basic | 0.53 | 0.82 | 1.96 | 2.04 | 1.70 | 1.50 | 1.56 | 0.94 | 0.81 | 1.35 | 0.94 | 0.73 | 1.30 | -- |
| Eps Diluted | 0.53 | 0.82 | 1.96 | 2.04 | 1.70 | 1.50 | 1.56 | 0.94 | 0.81 | 1.35 | 0.94 | 0.73 | 1.30 | -- |
| 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 | FY 2016Dec 31, 2016 | FY 2015Dec 31, 2015 | FY 2014Dec 31, 2014 | FY 2013Dec 31, 2013 | FY 2012Dec 31, 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 284.0M | 423.0M | 353.0M | 147.0M | 122.0M | 62.2M | 54.5M | 62.1M | 24.1M | 53.1M | 41.3M | 24.0M | 28.8M | 27.8M |
| Trading Financial Assets | -- | -- | -- | 200.0M | 341.0M | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 271.0M | 284.0M | 246.0M | 260.0M | 176.0M | 88.5M | 46.5M | 63.5M | 57.1M | 54.5M | 47.4M | 20.1M | 28.4M | 9.9M |
| Notes Receivable | 120.0M | 56.4M | 58.4M | 60.1M | 35.3M | 28.8M | 19.4M | 24.9M | 20.7M | 3.1M | 4.6M | 1.2M | 2.1M | 1.3M |
| Notes And Accounts Receivable | 392.0M | 340.0M | 304.0M | 321.0M | 211.0M | 117.0M | 65.9M | 88.4M | 77.9M | 57.6M | 52.0M | 21.3M | 30.5M | 11.1M |
| Prepayments | 48.0M | 26.5M | 29.2M | 15.9M | 33.8M | 8.3M | 700,500 | 3.3M | 2.0M | 3.0M | 793,700 | 627,400 | 892,700 | 4.1M |
| Inventory | 532.0M | 407.0M | 226.0M | 136.0M | 106.0M | 47.1M | 55.5M | 35.7M | 24.7M | 29.8M | 9.5M | 22.1M | 17.3M | 9.6M |
| Total Current Assets | 1.5B | 1.4B | 1.1B | 863.0M | 853.0M | 262.0M | 186.0M | 199.0M | 133.0M | 149.0M | 108.0M | 72.4M | 80.6M | 82.5M |
| Long Term Equity Investment | 5.1M | 6.9M | -- | -- | -- | -- | -- | -- | -- | -- | -- | 18.0M | 16.1M | 10.0M |
| Fixed Assets | 2.7B | 1.6B | 1.1B | 763.0M | 463.0M | 390.0M | 293.0M | 265.0M | 200.0M | 186.0M | 86.7M | 61.8M | 59.1M | 26.6M |
| Fixed Assets Total | 2.7B | 1.6B | 1.1B | 763.0M | 463.0M | 390.0M | 293.0M | 265.0M | 200.0M | 186.0M | 86.7M | 61.8M | 59.1M | 26.6M |
| Construction In Progress | 1.2B | 1.6B | 1.5B | 185.0M | 63.3M | 20.0M | 14.0M | 39.0M | 34.2M | 15.1M | 70.0M | 12.6M | 2.3M | 1.7M |
| Construction In Progress Total | 1.2B | 1.6B | 1.5B | 189.0M | 65.3M | 21.2M | 14.5M | 39.0M | 34.7M | 15.1M | 70.0M | 12.6M | 2.3M | 1.7M |
| Intangible Assets | 150.0M | 138.0M | 86.3M | 73.2M | 44.0M | 41.5M | 43.5M | 30.9M | 32.6M | 34.2M | 22.9M | 13.4M | 14.3M | 4.4M |
| Long Term Deferred Expenses | 13.6M | 5.8M | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non Current Assets | 4.3B | 3.6B | 2.9B | 1.2B | 622.0M | 481.0M | 375.0M | 342.0M | 279.0M | 237.0M | 181.0M | 117.0M | 104.0M | 43.4M |
| Total Assets | 5.8B | 5.0B | 4.0B | 2.0B | 1.5B | 743.0M | 561.0M | 541.0M | 412.0M | 386.0M | 289.0M | 190.0M | 185.0M | 126.0M |
| Short Term Borrowings | 123.0M | 682.0M | 915.0M | 79.2M | 18.5M | 55.1M | 50.1M | 70.0M | 45.0M | 50.0M | 30.0M | 54.0M | 60.0M | 69.0M |
| Accounts Payable | 713.0M | 564.0M | 589.0M | 222.0M | 99.9M | 86.8M | 44.9M | 69.9M | 64.0M | 34.8M | 22.9M | 19.4M | 23.2M | 10.5M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 688,500 | 1.1M | 638,500 | 2.5M | 1.0M | 1.5M | 396,200 | 1.6M |
| Contract Liabilities | 17.0M | 17.4M | 12.8M | 19.6M | 17.6M | 1.7M | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 1.3B | 1.6B | 1.7B | 389.0M | 183.0M | 162.0M | 132.0M | 165.0M | 130.0M | 141.0M | 89.6M | 102.0M | 145.0M | 107.0M |
| Long Term Borrowings | 1.6B | 638.0M | 305.0M | -- | -- | -- | -- | 15.0M | 30.0M | 40.0M | 59.7M | 13.3M | -- | -- |
| Total Non Current Liabilities | 1.8B | 827.0M | 468.0M | 157.0M | 108.0M | 91.5M | 60.0M | 65.3M | 71.3M | 69.1M | 85.2M | 33.5M | 19.6M | 10.8M |
| Total Liabilities | 3.1B | 2.4B | 2.1B | 545.0M | 291.0M | 253.0M | 192.0M | 231.0M | 201.0M | 210.0M | 175.0M | 136.0M | 165.0M | 118.0M |
| Paid In Capital | 250.0M | 250.0M | 158.0M | 108.0M | 108.0M | 81.0M | 81.0M | 46.4M | 45.9M | 45.9M | 45.9M | 12.5M | 10.0M | 10.0M |
| Capital Reserve | 1.2B | 1.2B | 603.0M | 624.0M | 588.0M | 41.9M | 41.9M | 76.6M | 53.0M | 53.0M | 53.0M | 36.7M | 10.5M | -- |
| Surplus Reserve | 90.7M | 78.4M | 55.6M | 37.7M | 35.8M | 22.6M | 19.2M | 14.0M | 10.6M | 8.8M | 5.9M | 1.8M | 484,400 | -- |
| Retained Earnings | 1.1B | 1.1B | 1.1B | 721.0M | 463.0M | 344.0M | 227.0M | 173.0M | 101.0M | 68.5M | 9.7M | 3.1M | -570,900 | -2.2M |
| Minority Equity | -14.8M | -6.3M | -1.3M | 1.2M | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Equity Attributable | 2.6B | 2.6B | 1.8B | 1.5B | 1.2B | 490.0M | 369.0M | 310.0M | 211.0M | 176.0M | 114.0M | 54.1M | 20.5M | 7.8M |
| Total Equity | 2.6B | 2.6B | 1.8B | 1.5B | 1.2B | 490.0M | 369.0M | 310.0M | 211.0M | 176.0M | 114.0M | 54.1M | 20.5M | 7.8M |
| 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 | FY 2016Dec 31, 2016 | FY 2015Dec 31, 2015 | FY 2014Dec 31, 2014 | FY 2013Dec 31, 2013 | FY 2012Dec 31, 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 2.7B | 2.3B | 2.0B | 1.2B | 851.0M | 360.0M | 439.0M | 354.0M | 315.0M | 301.0M | 157.0M | 175.0M | 93.3M | 48.4M |
| Tax Refunds Received | 87.3M | 93.9M | 78.3M | 58.4M | 41.1M | 22.1M | 23.7M | 23.5M | 14.0M | 11.9M | 8.3M | 5.5M | 4.8M | 185,800 |
| Total Operating Cash Inflow | 2.9B | 2.5B | 2.1B | 1.3B | 935.0M | 436.0M | 487.0M | 390.0M | 350.0M | 317.0M | 176.0M | 185.0M | 110.0M | 60.4M |
| Cash Paid For Goods | 2.2B | 1.7B | 1.4B | 676.0M | 652.0M | 174.0M | 175.0M | 195.0M | 162.0M | 195.0M | 82.7M | 106.0M | 42.4M | 51.7M |
| Cash Paid To Employees | 322.0M | 271.0M | 159.0M | 118.0M | 78.1M | 54.5M | 49.9M | 39.4M | 30.4M | 23.4M | 17.1M | 14.5M | 10.4M | 7.2M |
| Taxes Paid | 55.3M | 93.4M | 89.8M | 55.8M | 40.2M | 46.2M | 33.4M | 31.5M | 21.8M | 17.2M | 18.0M | 9.4M | 1.5M | 1.4M |
| Total Operating Cash Outflow | 2.8B | 2.3B | 1.8B | 947.0M | 839.0M | 326.0M | 305.0M | 301.0M | 244.0M | 262.0M | 140.0M | 154.0M | 68.4M | 67.2M |
| Operating Cash Flow | 105.0M | 200.0M | 301.0M | 357.0M | 95.7M | 110.0M | 181.0M | 89.3M | 106.0M | 55.0M | 35.3M | 30.6M | 41.2M | -6.8M |
| Total Investing Cash Inflow | 2.1M | 3.6M | 215.0M | 172.0M | 13.8M | 1.2M | 2.0M | 176,800 | 985,700 | 325,700 | 30.9M | 16.1M | 2.5M | 13.0M |
| Total Investing Cash Outflow | 646.0M | 934.0M | 1.3B | 514.0M | 526.0M | 75.0M | 81.9M | 63.9M | 48.1M | 58.8M | 103.0M | 23.1M | 47.8M | 8.0M |
| Investing Cash Flow | -643.0M | -930.0M | -1.1B | -342.0M | -512.0M | -73.8M | -79.9M | -63.8M | -47.1M | -58.5M | -72.2M | -7.0M | -45.3M | 5.0M |
| Cash From Borrowings | 1.7B | 1.8B | 1.4B | 112.0M | 53.8M | 76.0M | 50.0M | 70.0M | 45.0M | 80.0M | 93.3M | 67.3M | 88.0M | 102.0M |
| Dividends And Interest Paid | 111.0M | 183.0M | 109.0M | 60.3M | 37.6M | 2.9M | 74.6M | 4.6M | 31.7M | 8.1M | 35.4M | 20.1M | 6.3M | 5.4M |
| Debt Repayments | 1.2B | 1.5B | 246.0M | 51.1M | 90.0M | 86.0M | 85.0M | 55.0M | 80.0M | 66.7M | 54.0M | 60.0M | 97.0M | 69.6M |
| Total Financing Cash Inflow | 1.7B | 2.5B | 1.4B | 118.0M | 650.0M | 76.0M | 56.0M | 71.2M | 45.0M | 84.7M | 143.0M | 77.3M | 109.0M | 104.0M |
| Total Financing Cash Outflow | 1.3B | 1.7B | 395.0M | 111.0M | 173.0M | 97.1M | 165.0M | 66.1M | 113.0M | 78.0M | 90.2M | 90.6M | 104.0M | 103.0M |
| Financing Cash Flow | 409.0M | 781.0M | 1.0B | 6.5M | 477.0M | -21.1M | -109.0M | 5.0M | -68.2M | 6.7M | 52.8M | -13.3M | 4.2M | 575,100 |
| Net Change In Cash | -131.0M | 62.5M | 206.0M | 27.1M | 60.2M | 12.0M | -6.2M | 29.8M | -11.4M | 3.4M | 15.8M | 10.3M | 56,500 | -1.2M |
| Ending Cash Balance | 284.0M | 415.0M | 352.0M | 147.0M | 120.0M | 59.7M | 47.7M | 53.8M | 24.0M | 35.4M | 32.0M | 16.1M | 5.8M | 5.8M |
| Capex | 637.0M | 924.0M | 1.3B | 456.0M | 181.0M | 72.6M | 81.7M | 63.4M | 48.0M | 58.8M | 90.1M | 19.4M | 22.5M | 8.0M |