Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | — | — | — | ||
| — |
| — |
| EBITDA margin % | 66.3% | 65.6% | 42% | 25.2% | 17.2% | 25.1% | 19% |
| EBIT margin % | 51.3% | 44.5% | 14.2% | -17.5% | 1.7% | 12.6% | 7.4% |
| PAT margin % | 40.7% | 29.7% | 16.8% | -78.8% | 1.2% | -1.8% | -8.4% |
| Working capital | |||||||
| Receivable days | 42 | 26 | 55 | 26 | 14 | 8 | 3 |
| Inventory days | — | 7 | 4 | 3 | 7 | 5 | 5 |
| Payable days | — | — | 138 | 74 | 65 | 46 | 35 |
| NWC days | — | — | -80 | -45 | -44 | -34 | -26 |
| Leverage | |||||||
| Current ratio | 7.66 | 0.55 | 2.23 | 1.5 | 0.55 | 0.64 | 1.13 |
| Debt to EBITDA | 9.71 | 10 | 25.91 | 28.28 | 10 | 3.69 | 0 |
| Debt to equity | 1.36 | 1.38 | 2.45 | 2.95 | 1.74 | 1.53 | 0 |
| Interest coverage | 2.4 | 1.5 | 1.3 | -0.1 | 0.2 | 0.9 | 0.6 |
| Asset turnover | 0.08 | 0.08 | 0.06 | 0.1 | 0.24 | 0.43 | 0.67 |
| Return ratios | |||||||
| Return on assets % | 3.4% | 2.3% | 1% | -7.9% | 0.3% | -0.8% | -5.6% |
| Return on capital employed % | 8.2% | 9.5% | 7.9% | -0.6% | 1.3% | 7.7% | 4.7% |
| Return on equity % | 8.6% | 6.3% | 3.8% | -32.5% | 1.2% | -3% | -12.3% |
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.