Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | 16.9% | 39.7% | 40.8% | 39.9% | 40.8% |
| EBITDA margin % | -450% | -53.2% | -8.2% | 2.4% | 6.8% | 2.1% |
| EBIT margin % | -450% | -57.3% | -28.9% | -17.8% | -6.5% | -9.7% |
| PAT margin % | 0% | -4.8% | -39.9% | -29.4% | -6.3% | -12.7% |
| Working capital | ||||||
| Receivable days | 0 | 3 | 1 | 13 | 8 | 6 |
| Inventory days | 0 | 124 | 227 | 212 | 89 | 119 |
| Payable days | 33 | 206 | 114 | 127 | 16 | 19 |
| NWC days | -33 | -79 | 114 | 97 | 81 | 107 |
| Leverage | ||||||
| Current ratio | 26.5 | 4.27 | 0.9 | 1.13 | 1.45 | 1.92 |
| Debt to EBITDA | — | — | — | 29.59 | 3.8 | 13.4 |
| Debt to equity | 0.03 | 0.04 | 2.5 | 2.93 | 4.17 | 0.77 |
| Interest coverage | — | -2 | -2.1 | -1.5 | 0.2 | -1 |
| Asset turnover | 0.01 | 0.22 | 0.5 | 0.43 | 1.05 | 0.96 |
| Return ratios | ||||||
| Return on assets % | 0% | -1.1% | -20% | -12.6% | -6.7% | -12.1% |
| Return on capital employed % | 0% | -1.2% | -21.4% | -16.2% | 2% | -8.8% |
| Return on equity % | 0% | -1.9% | -174.8% | -119.5% | -102.8% | -34.5% |
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.