Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 23.8% | 36.7% | 39.4% | 45.2% | 63.3% | 41.2% |
| EBITDA margin % | -9.7% | -11.9% | -2% | 2.1% | 5% | -4.7% |
| EBIT margin % | -12.6% | -15.5% | -5% | -0.7% | 2.4% | -7.6% |
| PAT margin % | 17.1% | 6.4% | 8.1% | 8% | 11.6% | -1.1% |
| Working capital | ||||||
| Receivable days | 208 | 240 | 257 | 110 | 72 | 72 |
| Inventory days | 13 | 29 | 18 | 0 | 0 | 0 |
| Payable days | 301 | 425 | 233 | 135 | 237 | 124 |
| NWC days | -80 | -156 | 42 | -25 | -165 | -52 |
| Leverage | ||||||
| Current ratio | 2.98 | 2.77 | 3.16 | 5.66 | 5.37 | 3.66 |
| Debt to EBITDA | — | — | — | 0 | 0 | — |
| Debt to equity | 0.08 | 0.09 | 0 | 0 | 0 | 0 |
| Interest coverage | 14.4 | 2.3 | 18.7 | 5.9 | 53.5 | 1.3 |
| Asset turnover | 0.34 | 0.28 | 0.49 | 0.59 | 0.55 | 0.84 |
| Return ratios | ||||||
| Return on assets % | 5.9% | 1.8% | 4% | 4.7% | 6.4% | -0.9% |
| Return on capital employed % | 10.1% | 1.6% | 6.8% | 6.6% | 11.7% | 0.4% |
| Return on equity % | 8.5% | 2.7% | 5.2% | 5.7% | 7.9% | -1.2% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.