Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 15.6% | 16.8% | 29.2% | 0.5% | 1.3% | 0% | 21.6% |
| EBITDA margin % | 6.9% | 9% | 8.9% | -47.2% | -93.4% | -348.2% | -78.4% |
| EBIT margin % | -2.8% | 0.4% | -14.8% | -84.3% | -146.1% | -640.7% | -240.5% |
| PAT margin % | -9.3% | 0.5% | -19.2% | -125.9% | -140.1% | -1,648.1% | 867.6% |
| Working capital | |||||||
| Receivable days | — | 217 | 610 | 12 | 0 | 0 | 1,115 |
| Inventory days | — | 1,032 | 3,828 | 4,523 | 6,482 | 36,013 | 34,046 |
| Payable days | — | 200 | 766 | 435 | 1,027 | 4,339 | 2,354 |
| NWC days | — | 1,049 | 3,672 | 4,100 | 5,456 | 31,674 | 32,807 |
| Leverage | |||||||
| Current ratio | — | 2.88 | 3.13 | 2.85 | 2.98 | 3.18 | 3.21 |
| Debt to EBITDA | — | 6.19 | 13.97 | — | — | — | — |
| Debt to equity | — | 0.07 | 0.05 | 0.05 | 0.03 | 0.03 | 0.06 |
| Interest coverage | -0.5 | 1.8 | -2.6 | -13.5 | -17.1 | — | — |
| Asset turnover | — | 0.08 | 0.03 | 0.02 | 0.01 | 0 | 0 |
| Return ratios | |||||||
| Return on assets % | — | 0% | -0.5% | -2.2% | -1.8% | -3.9% | 3% |
| Return on capital employed % | — | 0.2% | -0.4% | -1.6% | -2.1% | -1.5% | -0.9% |
| Return on equity % | — | 0.1% | -0.8% | -3.1% | -2.5% | -5.5% | 3.8% |
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.