Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 87.4% | 85.4% | 72.3% | 96.7% | 97.2% | 97.5% | 97% | 93.4% |
| EBITDA margin % | 22.4% | 30.7% | 17.3% | 45.7% | 25.8% | 33.9% | 36.2% | 38.9% |
| EBIT margin % | 9.4% | 18.3% | 1.2% | 26.4% | 10.2% | 17.1% | 17.8% | 26.5% |
| PAT margin % | -44.4% | -25.7% | -55% | -24.6% | -12.6% | -9.5% | -7.8% | 3.2% |
| Working capital | ||||||||
| Receivable days | 75 | — | 67 | 30 | 20 | 20 | 19 | 15 |
| Inventory days | 43 | — | 37 | 225 | 263 | 222 | 188 | 201 |
| Payable days | 748 | — | 520 | 1,326 | 1,658 | 1,847 | 1,163 | 494 |
| NWC days | -630 | — | -416 | -1,071 | -1,375 | -1,605 | -956 | -278 |
| Leverage | ||||||||
| Current ratio | 0.74 | — | 1.01 | 1.03 | 0.98 | 1.18 | 0.66 | 0.77 |
| Debt to EBITDA | 14.14 | — | 34.06 | 12.61 | 18.65 | 11.9 | 9.99 | 7.33 |
| Debt to equity | -29.22 | — | -21.38 | -32.42 | -40.56 | -16.3 | -15.03 | -17.02 |
| Interest coverage | 0.5 | 0.6 | 0.2 | 0.8 | 0.5 | 0.7 | 0.6 | 1.1 |
| Asset turnover | 0.19 | — | 0.12 | 0.12 | 0.15 | 0.18 | 0.21 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | -8.3% | — | -6.9% | -3% | -1.9% | -1.7% | -1.7% | 0.9% |
| Return on capital employed % | 5.2% | — | 2% | 4.7% | 3.9% | 5.1% | 5.5% | 10.5% |
| Return on equity % | 409.3% | — | 199.5% | 138.3% | 105.9% | 38.2% | 32.6% | -19% |
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.