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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 0
Operates in Mining & Metals. Per the activity note to the FY2023 annual report, the company manufactures and sells ferroalloys.
Subsidiary of Company WINDMOON LIMITED (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 17.3% | 2.7% | -8.1% | -15.4% | 13.2% | -0.7% | -1.0% |
| EBITDA Margin | 8.7% | -2.9% | -12.0% | -18.7% | 10.1% | -4.3% | -12.8% |
| EBITDAR | 5,398 | -2,122 | -6,404 | -8,989 | 5,770 | -2,424 | -6,358 |
| EBITDAR Margin | 8.7% | -2.9% | -12.0% | -18.7% | 10.1% | -4.3% | -12.8% |
| EBIT Margin | 8.6% | -3.3% | -12.7% | -19.6% | 8.6% | -5.0% | -13.6% |
| Net Profit Margin | 0.8% | -10.1% | -25.1% | -46.5% | 5.9% | -0.2% | -21.1% |
| Operating Expense % of Sales | 8.6% | 5.6% | 3.9% | 3.4% | 3.1% | 3.6% | 11.9% |
| Returns | |||||||
| Return on Assets (ROA) | 1.0% | -20.7% | -37.9% | -97.4% | 14.9% | -0.4% | -23.6% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 12.9% | -8.1% | -38.6% | -203.3% | 59.5% | -54.6% | -197.6% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 89.0% | 110.5% | 114.2% | 215.0% | 215.7% | 215.4% | 116.2% |
| Debt-to-Equity | -23.87x | -4.30x | -1.85x | -1.11x | -1.21x | -1.16x | -1.07x |
| Debt-to-EBITDA | 7.94x | N/A | N/A | N/A | 8.47x | N/A | N/A |
| Equity-to-Assets | -3.7% | -25.7% | -61.7% | -194.5% | -178.7% | -185.6% | -108.5% |
| Net Debt | 42,687 | 38,551 | 39,231 | 49,178 | 48,758 | 45,118 | 51,780 |
| Cash & Equivalents | 168 | 801 | 1,043 | 68 | 139 | 1,168 | 28 |
| Total Debt | 42,855 | 39,352 | 40,274 | 49,246 | 48,897 | 46,286 | 51,809 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.89x | 0.68x | 0.57x | 0.19x | 0.16x | 0.12x | 0.32x |
| Quick Ratio | 0.25x | 0.30x | 0.21x | 0.09x | 0.04x | 0.04x | 0.22x |
| Cash Ratio | 0.01x | 0.03x | 0.03x | 0.00x | 0.00x | 0.02x | 0.00x |
| Total Current Assets | 29,639 | 18,351 | 19,167 | 8,360 | 7,815 | 6,308 | 29,534 |
| Total Current Liabilities | 33,226 | 26,885 | 33,609 | 45,005 | 47,849 | 52,412 | 92,701 |
| Inventory | 21,391 | 10,371 | 11,972 | 4,519 | 5,806 | 4,090 | 8,912 |
| Trade Receivables | 7,276 | 7,089 | 5,621 | 3,198 | 1,870 | 628 | 20,593 |
| Trade Payables | 6,882 | 4,204 | 14,792 | 17,034 | 12,707 | 13,962 | 40,162 |
| Net Working Capital | -3,587 | -8,534 | -14,442 | -36,645 | -40,034 | -46,103 | -63,167 |
| Net Working Capital % of Revenue | -5.8% | -11.7% | -27.1% | -76.3% | -70.3% | -81.7% | -127.1% |
| Trade Working Capital | 21,784 | 13,257 | 2,801 | -9,318 | -5,031 | -9,244 | -10,657 |
| Trade Working Capital % of Revenue | 35.2% | 18.2% | 5.3% | -19.4% | -8.8% | -16.4% | -21.4% |
| Change in Trade Working Capital | N/A | -8,527 | -10,455 | -12,119 | 4,287 | -4,214 | -1,412 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 2.39x | 6.83x | 4.81x | 12.25x | 8.52x | 13.90x | 5.63x |
| Days Inventory Outstanding (DIO) | 152.7 | 53.4 | 75.9 | 29.8 | 42.9 | 26.3 | 64.8 |
| Receivables Turnover | 8.50x | 10.28x | 9.47x | 15.01x | 30.45x | 89.94x | 2.41x |
| Days Sales Outstanding (DSO) | 43.0 | 35.5 | 38.6 | 24.3 | 12.0 | 4.1 | 151.3 |
| Payables Turnover | 7.43x | 16.86x | 3.89x | 3.25x | 3.89x | 4.07x | 1.25x |
| Days Payable Outstanding (DPO) | 49.1 | 21.7 | 93.8 | 112.3 | 93.8 | 89.6 | 292.0 |
| Cash Conversion Cycle | 146.6 days | 67.3 days | 20.7 days | -58.2 days | -38.9 days | -59.3 days | -75.9 days |
| Asset Turnover | 1.28x | 2.05x | 1.51x | 2.10x | 2.51x | 2.63x | 1.11x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -12,012 | 9,018 | 5,320 | 643 | 2,618 | 2,348 | -3,524 |
| Free Cash Flow (OCF − Capex proxy) | -12,012 | 7,503 | 5,060 | 140 | 1,295 | 523 | -4,801 |
| Cash Conversion (OCF / EBITDA) | -222.5% | N/A | N/A | N/A | 45.4% | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | N/A | N/A | N/A | 0.0% | N/A | N/A |
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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