Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 90.9% | 90.1% | 87.3% | 82.8% | 80.8% | 78.1% | 58.9% |
| EBITDA margin % | 6.8% | -12% | -56.7% | -59% | -7% | -17.9% | -22.5% |
| EBIT margin % | -25% | -51.3% | -85.6% | -79% | -31.1% | -44.8% | -37.8% |
| PAT margin % | -60% | -102.5% | -74.8% | 19.7% | -9.3% | 9.5% | -22.5% |
| Working capital | |||||||
| Receivable days | — | 91 | 76 | 58 | 56 | 42 | 28 |
| Inventory days | — | 277 | 179 | 24 | 853 | 1,541 | 235 |
| Payable days | — | 722 | 390 | 99 | 85 | 86 | 29 |
| NWC days | — | -355 | -135 | -18 | 824 | 1,497 | 235 |
| Leverage | |||||||
| Current ratio | — | 0.24 | 0.32 | 0.32 | 0.49 | 0.63 | 0.74 |
| Debt to EBITDA | — | — | — | — | — | — | — |
| Debt to equity | — | 0.37 | 0.27 | 0.17 | 0.08 | 0.07 | 0.07 |
| Interest coverage | -0.8 | -0.7 | -1.9 | 2.5 | -0 | 3.5 | 16 |
| Asset turnover | — | 0.06 | 0.07 | 0.1 | 0.09 | 0.08 | 0.15 |
| Return ratios | |||||||
| Return on assets % | — | -5.6% | -5.5% | 1.9% | -0.8% | 0.7% | -3.4% |
| Return on capital employed % | — | -2.9% | -4.5% | 3.9% | -0% | 1.4% | 1.8% |
| Return on equity % | — | -12.8% | -12.8% | 4% | -1.6% | 1.4% | -5.9% |
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.