Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 22% | 84.4% | 93.3% | 50.5% | ||||
| 40.5% |
| 46.2% |
| 40.7% |
| 32.8% |
| EBITDA margin % | -1.9% | -6.6% | 70.7% | 27.6% | 4.4% | 23.1% | 9.1% | -21.4% |
| EBIT margin % | -1.9% | -43% | 60.3% | 19.4% | -4.7% | 16.9% | 0.9% | -28.6% |
| PAT margin % | 5.8% | -29.8% | 101% | 114.8% | 217.6% | 24.6% | 27% | 12.9% |
| Working capital | ||||||||
| Receivable days | 60 | 0 | 0 | 0 | — | — | — | — |
| Inventory days | 46 | 9 | 12 | 1 | 2 | 40 | 28 | 71 |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | — | — | 0.26 | 1.17 | 31.99 | 3.31 | 7.79 | — |
| Debt to equity | 0.09 | 0.05 | 0.03 | 0.05 | 0.15 | 0.14 | 0.14 | 0.35 |
| Interest coverage | 2.7 | 0.6 | 30.8 | 20.8 | 9.3 | 8 | 2.8 | -0.6 |
| Asset turnover | 0.37 | 0.04 | 0.1 | 0.1 | 0.06 | 0.11 | 0.12 | 0.07 |
| Return ratios | ||||||||
| Return on assets % | 2.1% | -1.2% | 10.4% | 10.9% | 13.3% | 2.6% | 3.2% | 0.9% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 3.4% | -1.7% | 14.9% | 16.5% | 23.3% | 4.5% | 5.2% | 1.7% |
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.