Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 95% | 93.4% | 97.8% | 96.8% | 96.7% | 86.8% | 68.4% | 39.6% |
| EBITDA margin % | 59.5% | 13.8% | 28.6% | 41.6% | 48% | 36.8% | 41.8% | 20.7% |
| EBIT margin % | 57.9% | 11.6% | 26.4% | 41.5% | 41.3% | 32.8% | 39.7% | 18.1% |
| PAT margin % | 31.9% | 242.6% | 5.8% | 31.3% | 1,459.2% | 38.9% | 33.3% | 16.9% |
| Working capital | ||||||||
| Receivable days | 16 | 26 | 12 | — | 62 | 54 | 10 | 6 |
| Inventory days | 661 | 5,976 | 124 | — | 132 | 32 | 4 | 1 |
| Payable days | — | — | — | — | 2,242 | 778 | 78 | 15 |
| NWC days | — | — | — | — | -2,048 | -692 | -65 | -7 |
| Leverage | ||||||||
| Current ratio | 0.08 | 0.42 | 0.49 | — | 8.65 | 1.18 | 0.79 | 0.52 |
| Debt to EBITDA | 7.54 | 26.16 | 6.85 | — | 1.62 | 2.82 | 3.41 | 12.2 |
| Debt to equity | -40.41 | 1.06 | 1.59 | — | 0.05 | 0.1 | 0.23 | 0.48 |
| Interest coverage | 1 | 4.9 | 1.2 | 1.2 | 57.4 | 15.3 | 5.2 | 2.1 |
| Asset turnover | 0.18 | 0.1 | 0.25 | — | 0.05 | 0.08 | 0.12 | 0.11 |
| Return ratios | ||||||||
| Return on assets % | 5.8% | 23.2% | 1.4% | — | 76.6% | 3.2% | 4% | 1.9% |
| Return on capital employed % | 41.5% | 66.8% | 10.7% | — | 101.9% | 5.4% | 8.2% | 6.2% |
| Return on equity % | -287.1% | 71.5% | 4.7% | — | 85.8% | 3.8% | 5.3% | 3.2% |
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.