Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | — | — | — |
| EBITDA margin % | -3.4% | -6.9% | -6.3% | 1.6% | 4.2% | 6.1% |
| EBIT margin % | -13.1% | -15.7% | -17.8% | -7.3% | -1.8% | -0.5% |
| PAT margin % | -11.4% | -14.7% | -14% | -3.1% | 1.8% | 1.5% |
| Working capital | ||||||
| Receivable days | 60 | 53 | 48 | 64 | 58 | 48 |
| Inventory days | 3 | 1 | 1 | 1 | 1 | 1 |
| Payable days | 43 | 41 | 37 | 36 | 36 | 42 |
| NWC days | 19 | 12 | 11 | 29 | 22 | 7 |
| Leverage | ||||||
| Current ratio | 2.97 | 2.63 | 5.42 | 4.42 | 4.23 | 2.59 |
| Debt to EBITDA | — | — | — | 0.99 | 0.11 | 0 |
| Debt to equity | 0.11 | 0.06 | 0.02 | 0.01 | 0 | 0 |
| Interest coverage | -3.2 | -9.3 | -11 | -1.6 | 2.2 | 2.1 |
| Asset turnover | 0.79 | 0.83 | 0.65 | 0.71 | 0.74 | 0.82 |
| Return ratios | ||||||
| Return on assets % | -9% | -12.3% | -9% | -2.2% | 1.3% | 1.2% |
| Return on capital employed % | -7.8% | -17.8% | -11.7% | -1.4% | 2.7% | 2.8% |
| Return on equity % | -14.7% | -17% | -11% | -2.7% | 1.7% | 1.6% |
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.