Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 46.3% | 28.4% | 32.4% | 22.7% | 23.1% | ||
| 26.2% |
| 23.2% |
| EBITDA margin % | 17.3% | 2.1% | 7.5% | -1.3% | -2.9% | -1.7% | -3.8% |
| EBIT margin % | 15.6% | -0.7% | 5.9% | -2.5% | -4.8% | -3.7% | -6.1% |
| PAT margin % | 17.3% | -39.3% | -23% | -19.3% | 174.6% | 30.5% | 1.8% |
| Working capital | |||||||
| Receivable days | — | 200 | 54 | 36 | 11 | 10 | 11 |
| Inventory days | — | 873 | 490 | 194 | 69 | 78 | 151 |
| Payable days | — | 164 | 91 | 64 | 101 | 87 | 122 |
| NWC days | — | 909 | 453 | 166 | -21 | 2 | 39 |
| Leverage | |||||||
| Current ratio | — | 1.29 | 1.44 | 1.03 | 1.99 | 2.47 | 2.59 |
| Debt to EBITDA | — | 163.51 | 29.58 | — | — | — | — |
| Debt to equity | — | -24.79 | -6.08 | -2.92 | 0 | 0 | 0 |
| Interest coverage | 0.6 | 0 | 0.4 | 0.1 | 0.1 | 3.5 | 3.5 |
| Asset turnover | — | 0.26 | 0.47 | 0.89 | 0.66 | 0.54 | 0.49 |
| Return ratios | |||||||
| Return on assets % | — | -10.1% | -10.9% | -17.3% | 115.2% | 16.4% | 0.9% |
| Return on capital employed % | — | 1% | 9.4% | 1.8% | 1.8% | 3% | 1.9% |
| Return on equity % | — | 278.9% | 63% | 41.5% | 157.3% | 20.7% | 1.2% |
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.