Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | 98.9% | 91.2% | 97% | 95.4% |
| EBITDA margin % | 6.2% | 9.2% | -18.5% | -2.7% | -32% | -24.1% |
| EBIT margin % | 4.7% | 7.9% | -19.4% | -3.9% | -34.1% | -27.8% |
| PAT margin % | 2.5% | 17.4% | -5.9% | -4.7% | -22.5% | -21.9% |
| Working capital | ||||||
| Receivable days | 77 | 71 | 79 | 79 | 68 | 1 |
| Inventory days | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 22 | 14 | 859 | 580 | 632 | 56 |
| NWC days | 55 | 57 | -780 | -501 | -564 | -55 |
| Leverage | ||||||
| Current ratio | 1.3 | 3.44 | 4.05 | 2.1 | 7.23 | 0.23 |
| Debt to EBITDA | 2.54 | 1.71 | — | — | — | — |
| Debt to equity | 0.64 | 0.43 | 0.04 | 0 | 0.01 | 0.06 |
| Interest coverage | 2.9 | 26.8 | -3.5 | -4.5 | — | — |
| Asset turnover | 1.43 | 1.56 | 1.62 | 1.07 | 0.88 | 1.56 |
| Return ratios | ||||||
| Return on assets % | 3.6% | 27.1% | -9.5% | -5% | -19.7% | -34.2% |
| Return on capital employed % | 15.3% | 49.1% | -5.5% | -4.4% | -28.6% | -23.7% |
| Return on equity % | 10.2% | 47.1% | -11.5% | -7.7% | -22.2% | -37.4% |
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.