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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Industrial Goods — Plastics & Rubber. Per the activity note to the FY2024 annual report, the company manufactures and sells plastic boxes. Uses polypropylene granules; products widely used in agriculture.
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 40.3% | 43.6% | 40.1% | 43.5% | 80.6% |
| EBITDA Margin | 8.9% | 21.1% | -0.1% | -8.8% | 32.5% |
| EBITDAR | 95 | 556 | 21 | 120 | 638 |
| EBITDAR Margin | 8.9% | 21.1% | 1.2% | 9.3% | 51.3% |
| EBIT Margin | -9.3% | 12.8% | -12.6% | -27.4% | 13.2% |
| Net Profit Margin | -12.7% | 12.0% | -10.7% | -35.2% | 11.0% |
| Operating Expense % of Sales | 31.5% | 22.6% | 40.2% | 52.2% | 48.1% |
| Returns | |||||
| Return on Assets (ROA) | -4.9% | 9.7% | -4.6% | -14.3% | 3.9% |
| Return on Equity (ROE) | -10.1% | 21.3% | -9.5% | -34.8% | 8.4% |
| ROIC [EBIT / Invested Capital] | -3.9% | 11.4% | -6.5% | -11.5% | 4.8% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 49.3% | 51.6% | 44.1% | 56.0% | 50.7% |
| Debt-to-Equity | 1.02x | 1.14x | 0.90x | 1.36x | 1.10x |
| Debt-to-EBITDA | 14.43x | 3.05x | N/A | N/A | 4.41x |
| Equity-to-Assets | 48.4% | 45.3% | 48.8% | 41.1% | 46.3% |
| Net Debt | 1,193 | 1,471 | 1,421 | 1,774 | 1,781 |
| Cash & Equivalents | 164 | 225 | 377 | 5 | 3 |
| Total Debt | 1,357 | 1,696 | 1,798 | 1,779 | 1,785 |
| Liquidity & working capital | |||||
| Current Ratio | 0.46x | 0.54x | 0.94x | 0.59x | 0.79x |
| Quick Ratio | 0.14x | 0.21x | 0.94x | 0.59x | 0.79x |
| Cash Ratio | 0.13x | 0.13x | 0.18x | 0.00x | 0.00x |
| Total Current Assets | 584 | 934 | 1,957 | 1,084 | 1,484 |
| Total Current Liabilities | 1,262 | 1,737 | 2,078 | 1,828 | 1,890 |
| Inventory | 409 | 571 | N/A | N/A | N/A |
| Trade Receivables | 10 | 71 | 277 | 173 | 119 |
| Trade Payables | 28 | 26 | 276 | 49 | 94 |
| Net Working Capital | -678 | -802 | -122 | -744 | -406 |
| Net Working Capital % of Revenue | -63.8% | -30.4% | -6.9% | -57.6% | -32.7% |
| Trade Working Capital | 391 | 616 | 1 | 124 | 25 |
| Trade Working Capital % of Revenue | 36.8% | 23.3% | 0.1% | 9.6% | 2.0% |
| Change in Trade Working Capital | N/A | 225 | -615 | 123 | -100 |
| Turnover & efficiency | |||||
| Inventory Turnover | 1.55x | 2.61x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 235.6 | 140.0 | N/A | N/A | N/A |
| Receivables Turnover | 101.70x | 37.11x | 6.35x | 7.45x | 10.45x |
| Days Sales Outstanding (DSO) | 3.6 | 9.8 | 57.5 | 49.0 | 34.9 |
| Payables Turnover | 22.32x | 57.60x | 3.82x | 14.89x | 2.55x |
| Days Payable Outstanding (DPO) | 16.4 | 6.3 | 95.5 | 24.5 | 143.1 |
| Cash Conversion Cycle | 222.9 days | 143.5 days | -38.0 days | 24.4 days | -108.2 days |
| Asset Turnover | 0.39x | 0.80x | 0.43x | 0.41x | 0.35x |
| Cash flow & dividends | |||||
| Operating Cash Flow | -541 | -296 | -596 | 88 | 40 |
| Free Cash Flow (OCF − Capex proxy) | -844 | -338 | -454 | -105 | -141 |
| Cash Conversion (OCF / EBITDA) | -575.1% | -53.2% | N/A | N/A | 9.8% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A | 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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