Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | — | — | — | — | — |
| EBITDA margin % | 61.4% | 22.4% | 40.5% | 3.9% | 36.3% | 20.6% | -15.8% |
| EBIT margin % | 49.2% | 3.5% | 20.7% | -13.5% | 14.7% | -6.4% | -58.3% |
| PAT margin % | -4.3% | -56.7% | -179.6% | -62.9% | -29.8% | 49.6% | -38.5% |
| Working capital | |||||||
| Receivable days | 144 | 236 | 233 | 66 | 0 | 1 | 3 |
| Inventory days | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 6 | 3 | 14 | 5 | 6 | 6 | 7 |
| NWC days | — | 233 | 218 | 61 | -6 | -4 | -4 |
| Leverage | |||||||
| Current ratio | 1.16 | 1.22 | 0.88 | 0.8 | 0.49 | 0.8 | 1.58 |
| Debt to EBITDA | 8 | 30.18 | 17.03 | 96.98 | 9.65 | 7.67 | — |
| Debt to equity | 1.47 | 1.59 | 2.93 | 4.1 | 6.99 | 1.31 | 1.08 |
| Interest coverage | 0.9 | 0.3 | 0.3 | -0.1 | 0.4 | 3.5 | -2,955.5 |
| Asset turnover | 0.09 | 0.07 | 0.08 | 0.12 | 0.14 | 0.19 | 0.11 |
| Return ratios | |||||||
| Return on assets % | -0.4% | -3.8% | -13.7% | -7.6% | -4.1% | 9.5% | -4.1% |
| Return on capital employed % | 6.5% | 1.6% | 2.3% | -1% | 3.8% | 15.9% | -6.8% |
| Return on equity % | -1.3% | -13.4% | -76.3% | -67.9% | -59.6% | 41.2% | -14.8% |
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.