Ratio	2019	2020	2021
Margins
Gross Margin	62.3%	55.3%	48.7%
EBITDA Margin	58.9%	49.5%	35.9%
EBITDAR	2,028	1,728	733
EBITDAR Margin	58.9%	49.5%	35.9%
EBIT Margin	58.9%	49.5%	35.9%
Net Profit Margin	58.7%	45.7%	32.9%
Operating Expense % of Sales	3.4%	5.8%	12.8%
Returns
Return on Assets (ROA)	57.4%	46.8%	20.1%
Return on Equity (ROE)	100.0%	51.7%	20.5%
ROIC [EBIT / Invested Capital]	92.8%	59.5%	23.5%
Leverage & liquidity
Debt-to-Assets	8.4%	0.0%	1.5%
Debt-to-Equity	0.15x	0.00x	0.02x
Debt-to-EBITDA	0.15x	0.00x	0.07x
Equity-to-Assets	57.4%	90.6%	98.2%
Net Debt	162	-181	-156
Cash & Equivalents	134	181	206
Total Debt	296	N/A	50
Efficiency & working capital
Inventory Turnover	5.96x	9.74x	6.60x
Days Inventory Outstanding (DIO)	61.2	37.5	55.3
Receivables Turnover	8.76x	10.19x	39.20x
Days Sales Outstanding (DSO)	41.6	35.8	9.3
Payables Turnover	1.08x	5.95x	129.49x
Days Payable Outstanding (DPO)	338.7	61.3	2.8
Cash Conversion Cycle	-235.9 days	12.0 days	61.8 days
Asset Turnover	0.98x	1.03x	0.61x
Cash flow & dividends
Operating Cash Flow	2,602	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	-161	N/A	N/A
Cash Conversion (OCF / EBITDA)	128.3%	N/A	N/A
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

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.

companyinfo.ge · fetched 2026-07-15