Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 2% | 21.5% | 11.1% | 2.8% | ||||
| 13.8% |
| 25% |
| 24.1% |
| 9.4% |
| EBITDA margin % | -24.6% | 1.9% | -35.4% | -36.1% | -3.2% | 7.4% | -3% | -31.2% |
| EBIT margin % | -28.8% | -4.9% | -45.1% | -40.6% | -5% | 6.1% | -4.7% | -34.4% |
| PAT margin % | -22.9% | -10.3% | -40.5% | -39.5% | -6.4% | 3.1% | 18.7% | -23.6% |
| Working capital | ||||||||
| Receivable days | — | — | 149 | 123 | 94 | 78 | 75 | 103 |
| Inventory days | — | — | 307 | 244 | 140 | 150 | 143 | 397 |
| Payable days | — | — | 224 | 121 | 93 | 84 | 83 | 194 |
| NWC days | — | — | 232 | 245 | 140 | 143 | 135 | 306 |
| Leverage | ||||||||
| Current ratio | — | — | 2.98 | 2.14 | 1.75 | 1.8 | 3.73 | 2.6 |
| Debt to EBITDA | — | — | — | — | — | 1.66 | — | — |
| Debt to equity | — | — | 0 | 0.1 | 0.25 | 0.18 | 0.01 | 0.02 |
| Interest coverage | -4,570 | -7.3 | -71.4 | -73.9 | -2 | 4.2 | -2 | -32.5 |
| Asset turnover | — | — | 0.38 | 0.5 | 0.85 | 0.88 | 0.57 | 0.25 |
| Return ratios | ||||||||
| Return on assets % | — | — | -15.5% | -19.6% | -5.5% | 2.7% | 10.6% | -5.8% |
| Return on capital employed % | — | — | -20.7% | -25.4% | -3.8% | 10.4% | -1.3% | -9.7% |
| Return on equity % | — | — | -20.7% | -30% | -9.3% | 4.5% | 12.9% | -8% |
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.