Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | 91.5% | 93.6% | 94.8% | 96.7% | 96% |
| EBITDA margin % | -27.8% | 32.6% | 42.5% | 21.6% | 33.6% | 43.2% | 37.7% | 29.2% |
| EBIT margin % | -33.3% | 28.3% | 38.7% | 18.4% | 30.7% | 39.9% | 34.6% | 25.2% |
| PAT margin % | 39.9% | 0.2% | -8.4% | -27.8% | -14% | -3.2% | -4.3% | -7.5% |
| Working capital | ||||||||
| Receivable days | 227 | 46 | 25 | 18 | — | — | — | 6 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | 0 | 104 | 706 | — | — | — | 524 |
| NWC days | — | — | -78 | -688 | — | — | — | -519 |
| Leverage | ||||||||
| Current ratio | — | — | 1.68 | 1.57 | — | — | — | 0.64 |
| Debt to EBITDA | — | 11.34 | 9.09 | 15.44 | 12 | 11.31 | 12.3 | 14.64 |
| Debt to equity | 2.97 | 2.79 | 3.34 | 3.37 | 8.91 | 24.45 | 58.08 | 51.52 |
| Interest coverage | -0.7 | 0.7 | 0.9 | 0.4 | 0.7 | 0.9 | 0.9 | 0.7 |
| Asset turnover | 0.18 | 0.16 | 0.16 | 0.05 | 0.11 | 0.13 | 0.15 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | 7% | 0% | -1.3% | -1.5% | -1.6% | -0.4% | -0.7% | -1.3% |
| Return on capital employed % | — | — | 10.3% | 3.3% | — | — | — | 12.7% |
| Return on equity % | 37% | 0.1% | -7.2% | -28.1% | -30.8% | -16.2% | -53.2% | -90.3% |
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.