Molochny Mir
OJSC Molochny Mir
UNP: 500040357 · 28 Gaspadarchaya St., Grodno
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 218 925 | 174 784 |
| Intangible assets | 363 | 375 |
| Income-bearing investments in tangible assets | 1 829 | 1 755 |
| Investments in long-term assets | 126 399 | 95 907 |
| Long-term financial investments | 25 264 | 13 940 |
| Long-term receivables | 16 802 | 10 355 |
| Total Section I (long-term assets) | 389 583 | 297 119 |
| Inventories | 173 359 | 110 121 |
| — materials | 43 983 | 35 560 |
| — work in progress | 48 666 | 30 305 |
| — finished goods and merchandise | 78 896 | 42 419 |
| — goods shipped | 1 814 | 1 837 |
| Deferred expenses | 499 | 350 |
| VAT on acquired goods, works, services | 1 318 | 149 |
| Short-term receivables | 68 553 | 54 339 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 145 864 | 167 543 |
| Other short-term assets | — | 12 |
| Total Section II (short-term assets) | 389 593 | 332 514 |
| BALANCE (assets) | 779 176 | 629 633 |
| Charter capital | 17 345 | 17 345 |
| Reserve capital | 4 891 | 3 356 |
| Additional capital | 50 512 | 39 421 |
| Retained earnings (uncovered loss) | 541 933 | 463 767 |
| Total Section III (equity) | 614 681 | 523 889 |
| Long-term loans and borrowings | 14 583 | 3 000 |
| Long-term lease liabilities | — | — |
| Deferred income | 1 286 | 1 599 |
| Total Section IV (long-term liabilities) | 15 872 | 4 602 |
| Short-term loans and borrowings | 62 019 | 14 294 |
| Current portion of long-term liabilities | 61 | — |
| Short-term payables | 86 458 | 86 768 |
| — to suppliers, contractors, providers | 62 531 | 67 049 |
| — on payroll | 4 086 | 3 274 |
| — on lease payments | 20 | — |
| Total Section V (short-term liabilities) | 148 623 | 101 142 |
| BALANCE (equity and liabilities) | 779 176 | 629 633 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Total credit debt grew 4.4× over the year: from 17,294 to 76,602k BYN (+343%), drawn for an investment program (investment in long-term assets grew from 95,907 to 126,399).
- Net profit fell 20.1% year on year (124,977 → 99,907k BYN) while revenue grew 14.2% — margin compression.
- Sales profitability fell from 15.8% to 13.5%, and bottom-line profitability from 11.0% to 7.7%.
- Operating cash flow weakened from 125,777 to 47,666k BYN (flow margin from 11.0% to 3.7%) amid a sharp rise in inventories (110,121 → 173,359, +57%).
- High liquidity with a large margin: current 2.62 (norm 1.25), working-capital ratio 0.58 (norm 0.15).
- Strong real equity (about 564,169k BYN excluding revaluation) on a balance sheet of 779,176 — a very solid foundation, debt-to-capital around 12%.
- Operating cash flow remains positive (47,666k BYN); revenue is growing (+14.2%), dividends are paid and increased.
- The enterprise runs an active investment program (investment in fixed assets 87,304, long-term assets up 31%) while remaining profitable.
Recommendation
Molochny Mir is a fundamentally strong and profitable enterprise. Liquidity holds with a large margin (current ratio 2.62 against the norm of 1.25, working-capital ratio 0.58 against the norm of 0.15), real equity is very large and positive (about 564m BYN on a balance sheet of 779m), revenue is growing 14.2%, operating cash flow is positive, and dividends are paid and increased. Against this strong backdrop, 2025 showed a moderate deterioration in result quality: net profit fell by a fifth while revenue grew, bottom-line profitability dropped from 11.0% to 7.7%, and operating flow weakened more than twofold due to a sharp build-up of inventories (+57%). Total credit debt grew more than fourfold but in absolute terms remains small relative to capital (around 12%) and was drawn for an investment program — growth in long-term assets and capital investment, not to cover losses. The profile fits privatization: the enterprise is financially stable, profitable and investing.