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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
Likely related to Gravita Group, an international lead/battery recycling company with Georgian operations.
Subsidiary of LLC TGM Group (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 23.4% | 26.7% | 17.9% | 11.3% | 2.2% | 13.2% |
| EBITDA Margin | 14.9% | 11.4% | 5.4% | -10.2% | -5.8% | 8.4% |
| EBITDAR | 1,304 | 1,811 | 1,951 | -1,164 | -943 | 4,612 |
| EBITDAR Margin | 16.0% | 15.3% | 7.2% | -9.1% | -5.4% | 8.6% |
| EBIT Margin | 14.4% | 11.0% | 5.3% | -10.7% | -7.2% | 7.8% |
| Net Profit Margin | 14.2% | 13.1% | 5.2% | -11.5% | -22.8% | 7.2% |
| Operating Expense % of Sales | 8.5% | 15.3% | 12.5% | 21.5% | 8.1% | 4.8% |
| Returns | ||||||
| Return on Assets (ROA) | 26.8% | 21.4% | 7.4% | -11.4% | -21.4% | 22.3% |
| Return on Equity (ROE) | 129.0% | 82.7% | 106.9% | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 116.9% | 57.8% | N/A | -14.1% | -15.9% | N/A |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 9.5% | 8.2% | 32.7% | 80.7% | 68.7% | 0.9% |
| Debt-to-Equity | 0.46x | 0.32x | 4.71x | -24.19x | -2.89x | -0.35x |
| Debt-to-EBITDA | 0.34x | 0.44x | 4.23x | N/A | N/A | 0.03x |
| Equity-to-Assets | 20.8% | 25.9% | 7.0% | -3.3% | -23.8% | -2.5% |
| Net Debt | 108 | 366 | -2,924 | 10,206 | 12,204 | -259 |
| Cash & Equivalents | 303 | 227 | 9,153 | 230 | 434 | 410 |
| Total Debt | 411 | 593 | 6,229 | 10,436 | 12,638 | 151 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.87x | 1.12x | 1.01x | 0.89x | 0.74x | 0.81x |
| Quick Ratio | 0.87x | 1.06x | 0.99x | 0.82x | 0.61x | 0.76x |
| Cash Ratio | 0.09x | 0.04x | 0.52x | 0.02x | 0.02x | 0.02x |
| Total Current Assets | 3,001 | 6,016 | 17,817 | 11,832 | 16,742 | 14,316 |
| Total Current Liabilities | 3,430 | 5,374 | 17,712 | 13,363 | 22,616 | 17,627 |
| Inventory | N/A | 296 | 349 | 906 | 2,956 | 849 |
| Trade Receivables | 891 | 441 | 7,948 | 824 | 3,127 | 12,221 |
| Trade Payables | 480 | 1,972 | 9,955 | 596 | 1,101 | 4,295 |
| Net Working Capital | -430 | 641 | 105 | -1,532 | -5,874 | -3,311 |
| Net Working Capital % of Revenue | -5.3% | 5.4% | 0.4% | -11.9% | -33.9% | -6.2% |
| Trade Working Capital | 410 | -1,235 | -1,658 | 1,135 | 4,982 | 8,775 |
| Trade Working Capital % of Revenue | 5.0% | -10.5% | -6.1% | 8.8% | 28.8% | 16.4% |
| Change in Trade Working Capital | N/A | -1,646 | -422 | 2,792 | 3,848 | 3,792 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 29.27x | 63.78x | 12.60x | 5.73x | 54.72x |
| Days Inventory Outstanding (DIO) | N/A | 12.5 | 5.7 | 29.0 | 63.7 | 6.7 |
| Receivables Turnover | 9.17x | 26.84x | 3.41x | 15.60x | 5.54x | 4.38x |
| Days Sales Outstanding (DSO) | 39.8 | 13.6 | 107.0 | 23.4 | 65.9 | 83.3 |
| Payables Turnover | 13.03x | 4.39x | 2.24x | 19.15x | 15.38x | 10.82x |
| Days Payable Outstanding (DPO) | 28.0 | 83.1 | 163.2 | 19.1 | 23.7 | 33.7 |
| Cash Conversion Cycle | 11.8 days | -57.0 days | -50.5 days | 33.3 days | 105.9 days | 56.3 days |
| Asset Turnover | 1.89x | 1.63x | 1.42x | 0.99x | 0.94x | 3.11x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 1,047 | 769 | 4,318 | -3,568 | -1,080 | 12,771 |
| Free Cash Flow (OCF − Capex proxy) | -178 | 681 | 4,026 | -3,958 | -1,265 | 12,173 |
| Cash Conversion (OCF / EBITDA) | 85.7% | 56.9% | 293.2% | N/A | N/A | 282.7% |
| Dividends Declared | N/A | N/A | N/A | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | 0.0% |
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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