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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Agriculture — Production - Crops. Per the activity note to the FY2023 annual report, the group produces and sells oils and fats. Founded April 2012; 100% owned since 30 Sept 2021 by Qarva Kolkhuri.
Subsidiary of Karva Kolkhuri (100.0%)
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | -4.5% | -10.3% | -1.3% | 19.5% | N/A |
| EBITDA Margin | -24.2% | -71.8% | -228.6% | -70.3% | N/A |
| EBITDAR | -240 | -176 | -470 | -14 | N/A |
| EBITDAR Margin | -21.5% | -59.0% | -217.1% | -67.8% | N/A |
| EBIT Margin | -24.7% | -127.5% | -305.2% | -605.2% | N/A |
| Net Profit Margin | -38.7% | -189.9% | -337.8% | -956.8% | N/A |
| Operating Expense % of Sales | 19.7% | 61.5% | 227.2% | 89.8% | N/A |
| Returns | |||||
| Return on Assets (ROA) | -11.2% | -16.6% | -28.9% | -8.2% | -5.3% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -8.1% | -12.9% | -32.1% | -6.5% | -6.8% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 94.9% | 110.2% | 142.3% | 153.3% | 161.4% |
| Debt-to-Equity | -14.80x | -4.61x | -2.33x | -2.07x | -1.94x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | -6.4% | -23.9% | -61.0% | -73.9% | -83.1% |
| Net Debt | 3,662 | 3,750 | 3,602 | 3,599 | 3,599 |
| Cash & Equivalents | 1 | 0 | 1 | N/A | N/A |
| Total Debt | 3,662 | 3,750 | 3,603 | 3,599 | 3,599 |
| Liquidity & working capital | |||||
| Current Ratio | 1.25x | 0.99x | 0.74x | 0.74x | 0.74x |
| Quick Ratio | 1.21x | 0.81x | 0.72x | 0.74x | 0.74x |
| Cash Ratio | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Total Current Assets | 1,184 | 895 | 558 | 558 | 558 |
| Total Current Liabilities | 949 | 903 | 756 | 757 | 757 |
| Inventory | 40 | 159 | 16 | N/A | N/A |
| Trade Receivables | 215 | 307 | 119 | 300 | 300 |
| Trade Payables | 78 | 89 | 88 | 88 | 88 |
| Net Working Capital | 235 | -9 | -198 | -199 | -199 |
| Net Working Capital % of Revenue | 21.1% | -2.9% | -91.6% | -995.8% | N/A |
| Trade Working Capital | 177 | 376 | 48 | 212 | 212 |
| Trade Working Capital % of Revenue | 15.8% | 126.2% | 22.1% | 1057.5% | N/A |
| Change in Trade Working Capital | N/A | 200 | -328 | 164 | 0 |
| Turnover & efficiency | |||||
| Inventory Turnover | 29.17x | 2.07x | 13.37x | N/A | N/A |
| Days Inventory Outstanding (DIO) | 12.5 | 176.6 | 27.3 | N/A | N/A |
| Receivables Turnover | 5.20x | 0.97x | 1.81x | 0.07x | N/A |
| Days Sales Outstanding (DSO) | 70.3 | 375.6 | 201.6 | 5465.3 | N/A |
| Payables Turnover | 14.90x | 3.67x | 2.49x | 0.18x | N/A |
| Days Payable Outstanding (DPO) | 24.5 | 99.4 | 146.6 | 1994.2 | N/A |
| Cash Conversion Cycle | 58.3 days | 452.9 days | 82.3 days | 3471.1 days | N/A |
| Asset Turnover | 0.29x | 0.09x | 0.09x | 0.01x | 0.00x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 65 | -31 | 689 | 478 | N/A |
| Free Cash Flow (OCF − Capex proxy) | -304 | -137 | 1 | -1 | N/A |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A | N/A |
| 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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