Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 79.4% | 82.4% | 74.6% | 65% | 64.9% | 70.9% |
| EBITDA margin % | -3.4% | 4.4% | -11.8% | -23.5% | -72.3% | -96% |
| EBIT margin % | -39.6% | -22.5% | -38.1% | -51.8% | -103.5% | -132.6% |
| PAT margin % | -53.6% | -15.7% | 29.8% | -12.2% | -59.9% | -74.1% |
| Working capital | ||||||
| Receivable days | 273 | 156 | 131 | 129 | 122 | 125 |
| Inventory days | 1,013 | 969 | 587 | 388 | 377 | 427 |
| Payable days | 1,090 | 867 | 317 | 242 | 220 | 214 |
| NWC days | 195 | 258 | 401 | 275 | 279 | 338 |
| Leverage | ||||||
| Current ratio | 0.92 | 1.17 | 4.51 | 4.24 | 3.06 | 2.34 |
| Debt to EBITDA | — | 23.03 | — | — | — | — |
| Debt to equity | 0.81 | 0.18 | 0.05 | 0.09 | 0.15 | 0.19 |
| Interest coverage | -0.1 | -0.5 | -3.6 | -1.2 | -6.9 | -4.8 |
| Asset turnover | 0.08 | 0.13 | 0.15 | 0.14 | 0.14 | 0.13 |
| Return ratios | ||||||
| Return on assets % | -4.2% | -2% | 4.6% | -1.7% | -8.3% | -9.9% |
| Return on capital employed % | -0.5% | -0.8% | -4.5% | -1% | -8.1% | -9.4% |
| Return on equity % | -8.5% | -2.8% | 5.4% | -2% | -10.3% | -12.6% |
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.