Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 38.6% | 31.1% | 39.2% | 36.5% | 35.4% | 35.3% | 33.3% | -70.6% |
| EBITDA margin % | 10.4% | -7.8% | -0.7% | 1.3% | -4.3% | -19.6% | -40.7% | -176.7% |
| EBIT margin % | 4.7% | -16.2% | -9.2% | -5.4% | -11.7% | -29.5% | -50.4% | -321.7% |
| PAT margin % | -1.9% | -19.1% | -7.1% | -8.3% | -13.8% | -30.8% | 82.4% | -804.1% |
| Working capital | ||||||||
| Receivable days | 116 | 98 | 97 | 81 | 69 | 64 | 64 | 1,034 |
| Inventory days | 77 | 84 | 108 | 68 | 57 | 86 | 54 | 112 |
| Payable days | 125 | 103 | 170 | 125 | 0 | 276 | 155 | 1,160 |
| NWC days | 68 | 79 | 35 | 23 | 126 | -126 | -37 | -14 |
| Leverage | ||||||||
| Current ratio | 1.03 | 0.58 | 0.56 | 0.52 | 0.57 | 0.37 | 0.46 | 0.24 |
| Debt to EBITDA | 4.27 | — | — | 46.65 | — | — | — | — |
| Debt to equity | 1.51 | 1.82 | 4.55 | 12.49 | -10.68 | -19.32 | 47.38 | -2.21 |
| Interest coverage | 0.7 | -1.7 | -0.1 | -0.6 | -1.4 | -2 | 0.8 | -1.6 |
| Asset turnover | 0.88 | 0.76 | 0.78 | 1.04 | 1.03 | 0.51 | 0.62 | 0.05 |
| Return ratios | ||||||||
| Return on assets % | -1.7% | -14.6% | -5.6% | -8.7% | -14.1% | -15.6% | 50.8% | -41.7% |
| Return on capital employed % | 12.1% | -29% | -4.8% | -32.4% | -63.4% | -2,593.6% | 21.4% | -2,663.9% |
| Return on equity % | -6.5% | -86.3% | -44% | -173.7% | 209.4% | 536.5% | 4,739.2% | 111.1% |
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.