Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 39% | 35.6% | 37.6% | 30.3% | 16.7% | -15.7% | -46.3% |
| EBITDA margin % | 7.1% | -22.6% | 5.3% | -34.6% | -33.2% | -125.1% | -194.6% |
| EBIT margin % | 5.8% | -25.3% | 3.1% | -36.6% | -34.5% | -128% | -198.2% |
| PAT margin % | -0.4% | -37.4% | -15.2% | -60.5% | -75.2% | -215.1% | -431% |
| Working capital | |||||||
| Receivable days | 269 | 429 | 218 | 306 | 209 | 288 | 106 |
| Inventory days | 10 | 23 | 18 | 28 | 19 | 10 | 8 |
| Payable days | 28 | 687 | 409 | 752 | 521 | 892 | 940 |
| NWC days | 251 | -235 | -172 | -418 | -293 | -594 | -826 |
| Leverage | |||||||
| Current ratio | — | — | 0.97 | 0.97 | 0.89 | 0.73 | 1.43 |
| Debt to EBITDA | 11.2 | — | 28.99 | — | — | — | — |
| Debt to equity | 1.81 | 2.52 | 3.26 | 20.04 | -2.77 | -2.16 | -1.58 |
| Interest coverage | 0.7 | -1.1 | 0.2 | -0.6 | -0.5 | -0.6 | -0.6 |
| Asset turnover | 0.43 | 0.21 | 0.23 | 0.16 | 0.23 | 0.1 | 0.07 |
| Return ratios | |||||||
| Return on assets % | -0.2% | -7.9% | -3.5% | -9.8% | -17.5% | -20.7% | -30% |
| Return on capital employed % | 12.7% | -21.8% | 4.9% | -35.7% | -99.8% | 34.9% | -27.3% |
| Return on equity % | -0.8% | -55.4% | -32.2% | -530.9% | 115.1% | 60.5% | 45.2% |
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.