VTM Smallcap Gem in Textile sector

With these focused strategies in place and an unwavering commitment to quality
and customer satisfaction, your Directors believe the Company is well-positioned to achieve even better results in the years ahead

excerpt from annual report

Hey, but isnt ebitda and margins based on good sold. I dont think there is any effect of inventories here.

How would you differentiate capital used to do sales and capital used to make goods that went into inventory? The raw material must have been bought in some quarter. I would too like some clarification who has more understanding in this topic.