Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | -3.5% | 6.2% | 7.4% | 5.9% | -7.9% | 23.2% | 36.8% |
| EBITDA margin % | — | — | -2% | -0.7% | -9.8% | 20.7% | 23.4% |
| EBIT margin % | — | — | -2% | -0.7% | -9.8% | 20.7% | 23.3% |
| PAT margin % | -3.2% | -0.2% | -1.4% | 0.6% | -10.2% | 15.1% | 0.1% |
| Working capital | |||||||
| Receivable days | 14 | 0 | 1 | — | 0 | 0 | 3 |
| Inventory days | 117 | 30 | 54 | 174 | 213 | 115 | 481 |
| Payable days | — | — | — | — | — | 0 | — |
| NWC days | — | — | — | — | — | 115 | — |
| Leverage | |||||||
| Current ratio | — | — | — | — | — | 27.84 | — |
| Debt to EBITDA | — | — | — | — | — | 2.13 | 10.45 |
| Debt to equity | 0.03 | 0.02 | 0 | 0.16 | 1.09 | 1.06 | 1.52 |
| Interest coverage | 1.7 | 1.1 | -0.3 | 2 | -2.2 | 7 | 2.1 |
| Asset turnover | 0.21 | 0.45 | 0.14 | 0.28 | 0.68 | 1.14 | 0.24 |
| Return ratios | |||||||
| Return on assets % | -0.7% | -0.1% | -0.2% | 0.2% | -6.9% | 17.2% | 0% |
| Return on capital employed % | — | — | — | — | — | 24.1% | — |
| Return on equity % | -0.7% | -0.1% | -0.2% | 0.2% | -14.5% | 36% | 0% |
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.