Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 41.7% | 65% | 35.7% | 37.6% | 33.6% | 40.8% | 41.7% | 44.6% |
| EBITDA margin % | 10.9% | -17.1% | -22.8% | -50% | -34.8% | 15.4% | 21.3% | 20.3% |
| EBIT margin % | 6.3% | -27.7% | -35.2% | -64.2% | -49.2% | 9.1% | 16.2% | 15.6% |
| PAT margin % | -2.8% | -36.8% | -43.2% | -68.8% | -91% | -3% | 12.3% | 10.2% |
| Working capital | ||||||||
| Receivable days | 414 | 635 | — | 627 | 410 | 238 | 276 | 353 |
| Inventory days | 411 | 1,363 | — | 940 | 843 | 441 | 238 | 268 |
| Payable days | 1 | 1,446 | — | 663 | 452 | 214 | 188 | 178 |
| NWC days | 824 | 552 | — | 905 | 801 | 465 | 326 | 443 |
| Leverage | ||||||||
| Current ratio | 1.29 | 0.92 | — | 0.93 | 1.09 | 0.75 | 1.64 | 2.01 |
| Debt to EBITDA | 6.99 | — | — | — | — | 12.09 | 1.94 | 1.74 |
| Debt to equity | 0.56 | 0.5 | — | 0.94 | 1.37 | 1.91 | 0.29 | 0.24 |
| Interest coverage | 0.6 | -0.8 | -0.7 | -1.1 | -1 | 0.9 | 4.3 | 4.3 |
| Asset turnover | 0.3 | 0.14 | — | 0.1 | 0.12 | 0.26 | 0.4 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | -0.8% | -5.3% | — | -7.2% | -11% | -0.8% | 5% | 3.7% |
| Return on capital employed % | 4.5% | -8.9% | — | -12.3% | -12% | 7.2% | 17% | 12.3% |
| Return on equity % | -2% | -16.6% | — | -23.5% | -38.6% | -3.1% | 8.7% | 7% |
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.