Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 21.4% | 16.8% | 2.6% | 10% | 1.4% | -2.4% |
| EBITDA margin % | 4.4% | -0.6% | -1.5% | -3.6% | -82.8% | -13.2% |
| EBIT margin % | -12.3% | -11.4% | -3% | -7.8% | -93.6% | -17.2% |
| PAT margin % | -6.8% | 4.7% | 4.6% | 7.7% | 3.5% | 2% |
| Working capital | ||||||
| Receivable days | 310 | 234 | 233 | 453 | 561 | 457 |
| Inventory days | 64 | 51 | 0 | 8 | 0 | 0 |
| Payable days | 411 | 83 | 185 | 360 | 231 | 68 |
| NWC days | -37 | 203 | 47 | 100 | 330 | 389 |
| Leverage | ||||||
| Current ratio | 3.07 | 5.31 | 4.59 | 3.56 | 1.98 | 16.24 |
| Debt to EBITDA | 7.07 | — | — | — | — | — |
| Debt to equity | 0.07 | 0.04 | 0.03 | 0.06 | 0.76 | 0.05 |
| Interest coverage | -6.1 | 124 | 115 | — | — | — |
| Asset turnover | 0.14 | 0.13 | 0.23 | 0.13 | 0.04 | 0.09 |
| Return ratios | ||||||
| Return on assets % | -1% | 0.6% | 1.1% | 1% | 0.1% | 0.2% |
| Return on capital employed % | -1% | 2% | 1.7% | 1.8% | 1.6% | 0.3% |
| Return on equity % | -1.6% | 0.9% | 1.6% | 1.6% | 0.3% | 0.2% |
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.