Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | — | — | — | 5.8% | 47.8% | 78.1% |
| EBITDA margin % | 2.7% | 1.4% | 1.9% | 0.6% | -2% | -4.3% |
| EBIT margin % | 2% | 0.7% | 1.3% | -0.4% | -4.4% | -9.2% |
| PAT margin % | 0.8% | -0.1% | 0.4% | -0.6% | -5.7% | -13.7% |
| Working capital | ||||||
| Receivable days | 31 | 43 | 15 | 14 | 133 | 212 |
| Inventory days | 43 | 9 | 6 | 54 | 191 | 874 |
| Payable days | 29 | 7 | 8 | 20 | 52 | 249 |
| NWC days | 46 | 45 | 13 | 48 | 272 | 837 |
| Leverage | ||||||
| Current ratio | 1.11 | 1.13 | 1.45 | 1.29 | 1.69 | 1.37 |
| Debt to EBITDA | 5.05 | 11.07 | 2.4 | 17.64 | — | — |
| Debt to equity | 2.22 | 2.42 | 0.72 | 0.96 | 0.65 | 0.88 |
| Interest coverage | 2.1 | 1 | 1.3 | 0.6 | -0.7 | -1 |
| Asset turnover | 3.21 | 3.69 | 6.15 | 3.59 | 0.9 | 0.52 |
| Return ratios | ||||||
| Return on assets % | 2.7% | -0.3% | 2.3% | -2.1% | -5.1% | -7.2% |
| Return on capital employed % | 24.2% | 19% | 17.4% | 6.9% | -7.7% | -6.8% |
| Return on equity % | 13.6% | -1.2% | 5.9% | -5.3% | -10.9% | -18.3% |
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.