Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 21.1% | 97.6% | 95.6% | — | — | ||
| — |
| — |
| EBITDA margin % | 1.7% | 62.2% | 21% | -31.4% | -178.1% | -103.8% | -157.6% |
| EBIT margin % | 1.5% | 61.3% | 20.4% | -32.7% | -180.1% | -105.4% | -159.3% |
| PAT margin % | -12.8% | 0.3% | 7.7% | -40.2% | -200% | -153.4% | -203.4% |
| Working capital | |||||||
| Receivable days | 29 | 75 | 26 | 48 | 70 | 44 | 27 |
| Inventory days | 399 | 69,748 | 34,815 | 2,623 | 2,002 | 2,204 | 1,947 |
| Payable days | 0 | 1,389 | 189 | 11 | 11 | 7 | 8 |
| NWC days | 428 | 68,434 | 34,652 | 2,659 | 2,061 | 2,241 | 1,966 |
| Leverage | |||||||
| Current ratio | 1.29 | 1.17 | 1.15 | 1.82 | 1.51 | 1.42 | 1.16 |
| Debt to EBITDA | 141.92 | 14.42 | 37.06 | — | — | — | — |
| Debt to equity | 19.23 | 14.86 | 11.98 | 18.2 | -53.66 | -11.77 | -8.07 |
| Interest coverage | 0.5 | 1 | 1.3 | 0.1 | -0.8 | -0.3 | -1.2 |
| Asset turnover | 0.3 | 0.09 | 0.11 | 0.05 | 0.03 | 0.04 | 0.04 |
| Return ratios | |||||||
| Return on assets % | -3.8% | 0% | 0.8% | -2% | -5.4% | -5.8% | -8.2% |
| Return on capital employed % | 21.2% | 39.2% | 22.4% | 0.5% | -7.8% | -4% | -17.5% |
| Return on equity % | -100.9% | 0.5% | 11.8% | -44.3% | 344.5% | 78.1% | 76.4% |
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.