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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 50,000 — 3-yr total 50,000
Geosteel LLC operates the largest rebar / construction-steel mini-mill in Georgia (Rustavi), producing reinforcing bars and billets for the domestic construction market and exports. Indian Steel Authority / Pramod Group joint-venture origin.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 27.4% | 20.7% | 15.1% | 12.1% | 25.6% | 18.4% | 10.6% | 18.6% |
| EBITDA Margin | 23.3% | 14.6% | 9.3% | 6.7% | 16.0% | 15.2% | 7.1% | 11.7% |
| EBITDAR | 41,832 | 25,628 | 19,750 | 12,204 | 56,432 | 53,852 | 19,871 | 30,887 |
| EBITDAR Margin | 23.3% | 14.6% | 9.3% | 6.7% | 16.0% | 15.2% | 7.1% | 11.7% |
| EBIT Margin | 23.1% | 14.4% | 9.0% | 6.4% | 15.9% | 15.1% | 6.9% | 11.4% |
| Net Profit Margin | 20.2% | 14.7% | 9.5% | 3.7% | 15.8% | 12.4% | 6.2% | 16.6% |
| Operating Expense % of Sales | 4.1% | 6.0% | 5.9% | 5.8% | 9.8% | 3.2% | 3.7% | 7.2% |
| Returns | ||||||||
| Return on Assets (ROA) | 22.3% | 14.8% | 16.3% | 4.5% | 28.4% | 18.9% | 7.8% | 16.5% |
| Return on Equity (ROE) | 28.5% | 16.9% | 20.4% | 17.4% | 92.0% | 42.0% | 14.3% | 38.0% |
| ROIC [EBIT / Invested Capital] | 46.3% | 20.1% | 24.2% | 13.5% | 33.1% | 26.1% | 11.0% | 14.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 10.8% | 4.1% | 0.9% | 45.6% | 58.6% | 45.6% | 34.5% | 41.7% |
| Debt-to-Equity | 0.14x | 0.05x | 0.01x | 1.76x | 1.90x | 1.01x | 0.63x | 0.96x |
| Debt-to-EBITDA | 0.42x | 0.28x | 0.06x | 5.66x | 2.03x | 1.97x | 3.85x | 3.60x |
| Equity-to-Assets | 78.3% | 87.5% | 79.9% | 25.9% | 30.9% | 44.9% | 54.8% | 43.4% |
| Net Debt | -37,575 | -27,401 | -20,344 | 46,532 | 108,269 | 100,430 | 54,415 | 93,526 |
| Cash & Equivalents | 55,184 | 34,622 | 21,446 | 22,549 | 6,475 | 5,402 | 22,165 | 17,673 |
| Total Debt | 17,609 | 7,221 | 1,102 | 69,081 | 114,744 | 105,832 | 76,580 | 111,199 |
| Liquidity & working capital | ||||||||
| Current Ratio | 4.72x | 5.63x | 4.73x | 0.90x | 2.29x | 1.83x | 4.21x | 1.16x |
| Quick Ratio | 2.62x | 1.98x | 1.64x | 0.46x | 1.04x | 0.53x | 1.91x | 0.59x |
| Cash Ratio | 2.33x | 1.59x | 1.40x | 0.20x | 0.10x | 0.06x | 0.67x | 0.12x |
| Total Current Assets | 111,628 | 122,830 | 72,236 | 100,614 | 144,087 | 171,434 | 140,268 | 175,451 |
| Total Current Liabilities | 23,643 | 21,811 | 15,280 | 112,219 | 62,926 | 93,523 | 33,325 | 151,160 |
| Inventory | 49,584 | 79,567 | 47,236 | 49,363 | 78,785 | 121,840 | 76,649 | 85,906 |
| Trade Receivables | 6,860 | 2,462 | 1,485 | 3,033 | 7,743 | 8,311 | 4,593 | 3,920 |
| Trade Payables | 16,471 | 14,590 | 9,435 | 11,364 | 8,949 | 17,057 | 10,882 | 11,282 |
| Net Working Capital | 87,984 | 101,019 | 56,956 | -11,605 | 81,161 | 77,911 | 106,943 | 24,291 |
| Net Working Capital % of Revenue | 49.0% | 57.6% | 26.8% | -6.4% | 23.1% | 22.0% | 38.0% | 9.2% |
| Trade Working Capital | 39,973 | 67,439 | 39,286 | 41,032 | 77,579 | 113,094 | 70,360 | 78,544 |
| Trade Working Capital % of Revenue | 22.3% | 38.5% | 18.5% | 22.5% | 22.1% | 31.9% | 25.0% | 29.7% |
| Change in Trade Working Capital | N/A | 27,466 | -28,153 | 1,746 | 36,547 | 35,515 | -42,734 | 8,184 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.63x | 1.75x | 3.82x | 3.25x | 3.32x | 2.37x | 3.28x | 2.51x |
| Days Inventory Outstanding (DIO) | 138.9 | 208.8 | 95.6 | 112.4 | 109.9 | 153.9 | 111.3 | 145.4 |
| Receivables Turnover | 26.17x | 71.24x | 143.05x | 60.11x | 45.41x | 42.59x | 61.26x | 67.57x |
| Days Sales Outstanding (DSO) | 13.9 | 5.1 | 2.6 | 6.1 | 8.0 | 8.6 | 6.0 | 5.4 |
| Payables Turnover | 7.91x | 9.54x | 19.12x | 14.10x | 29.24x | 16.94x | 23.10x | 19.12x |
| Days Payable Outstanding (DPO) | 46.1 | 38.3 | 19.1 | 25.9 | 12.5 | 21.5 | 15.8 | 19.1 |
| Cash Conversion Cycle | 106.7 days | 175.6 days | 79.0 days | 92.6 days | 105.4 days | 140.9 days | 101.4 days | 131.7 days |
| Asset Turnover | 1.11x | 1.01x | 1.71x | 1.20x | 1.79x | 1.52x | 1.27x | 0.99x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 38,416 | -5,108 | 71,057 | 23,821 | 17,479 | 8,037 | 70,251 | 37,402 |
| Free Cash Flow (OCF − Capex proxy) | 38,416 | -11,029 | 65,857 | -3,077 | -29,114 | -3,251 | 45,643 | 11,747 |
| Cash Conversion (OCF / EBITDA) | 91.8% | -19.9% | 359.8% | 195.2% | 31.0% | 14.9% | 353.5% | 121.1% |
| Dividends Declared | 0 | 0 | 73,542 | 66,593 | 15,576 | 0 | 0 | 50,000 |
| Dividend Payout Ratio | 0.0% | 0.0% | 364.7% | 976.3% | 28.0% | 0.0% | 0.0% | 113.5% |
Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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