Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 72.5% | 79.9% | — | — | — | — |
| EBITDA margin % | 32.2% | 15.4% | 1.9% | -9.5% | 7.5% | 20.3% | 7.6% |
| EBIT margin % | -26.6% | -23.9% | -49.1% | -47.4% | -15.6% | -7.2% | -18.4% |
| PAT margin % | -29.4% | -256.4% | -51.7% | -46.2% | -46.6% | -14.2% | -18.8% |
| Working capital | |||||||
| Receivable days | 444 | 122 | 130 | 266 | 50 | 35 | 36 |
| Inventory days | 193 | 386 | 712 | 122 | 116 | 62 | 361 |
| Payable days | 653 | 1,295 | 2,300 | 396 | 241 | 56 | 73 |
| NWC days | -17 | -787 | -1,458 | -9 | -74 | 41 | 324 |
| Leverage | |||||||
| Current ratio | 1.09 | 2.71 | 1.98 | 3.15 | 2.32 | 2.53 | 8.39 |
| Debt to EBITDA | 8.96 | 10.44 | 162 | — | 35.86 | 7.34 | 7.71 |
| Debt to equity | 0.24 | 0.18 | 0.23 | 0.17 | 0.32 | 0.37 | 0.08 |
| Interest coverage | -2.9 | -4.4 | -2.4 | -4.4 | -0.4 | -0.6 | -0.3 |
| Asset turnover | 0.06 | 0.08 | 0.05 | 0.06 | 0.08 | 0.17 | 0.12 |
| Return ratios | |||||||
| Return on assets % | -1.6% | -19.7% | -2.8% | -2.6% | -3.8% | -2.4% | -2.2% |
| Return on capital employed % | -1.6% | -1.7% | -2.4% | -2.8% | -0.8% | -1.3% | -0.6% |
| Return on equity % | -2.4% | -28.2% | -4% | -3.5% | -5.5% | -3.6% | -2.5% |
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.