Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 65.2% | 55.1% | 76% | 50.6% | 99% | 60.4% | — | — |
| EBITDA margin % | 28% | 33.7% | 51.4% | 26.6% | 41.2% | 39.9% | 31.5% | 36% |
| EBIT margin % | -14.4% | -3.9% | 1.3% | -1.6% | 20.6% | 22% | 9.4% | 15.6% |
| PAT margin % | -55.8% | 0.2% | 1.2% | 0.5% | -56.7% | 18.3% | 3.8% | 0% |
| Working capital | ||||||||
| Receivable days | 96 | 69 | 100 | — | 88 | 77 | 59 | 35 |
| Inventory days | 35 | 10 | 439 | 135 | 4,630 | 91 | 25 | 25 |
| Payable days | 27 | 79 | 105 | — | 0 | 54 | 19 | 20 |
| NWC days | 104 | 1 | 435 | — | 4,718 | 114 | 65 | 39 |
| Leverage | ||||||||
| Current ratio | 1.88 | 2.05 | 3.66 | 0.37 | 0.94 | 0.8 | 4.16 | 25.59 |
| Debt to EBITDA | 14.99 | 10.57 | 6.34 | — | 4.29 | 3.48 | 0.66 | 0.66 |
| Debt to equity | 0.46 | 0.44 | 0.26 | — | 0.26 | 0.23 | 0.02 | 0.03 |
| Interest coverage | -0.4 | -0.1 | 1.1 | 1.1 | 3.6 | 2.6 | 2.8 | 2.3 |
| Asset turnover | 0.07 | 0.08 | 0.06 | 0.09 | 0.11 | 0.13 | 0.11 | 0.12 |
| Return ratios | ||||||||
| Return on assets % | -4.1% | 0% | 0.1% | 0% | -6.1% | 2.3% | 0.4% | 0% |
| Return on capital employed % | -0.9% | -0.1% | 0.8% | 0.8% | 3.2% | 4% | 1.9% | 2.1% |
| Return on equity % | -6.1% | 0% | 0.1% | 0.1% | -8.4% | 3.1% | 0.5% | 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.