Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 96.2% | 95.6% | 96.1% | 96.6% | 96.5% | 96.5% | 93% | 94.9% |
| EBITDA margin % | 1.9% | 12.8% | 8.4% | -0.5% | -6.6% | -10.7% | 8.2% | -10.7% |
| EBIT margin % | -5% | -6.3% | -13.6% | -19.8% | -22.5% | -26.3% | -9.1% | -30.5% |
| PAT margin % | -3.7% | -27.7% | -13.6% | -21% | -30.9% | -32.1% | 38.5% | -43.2% |
| Working capital | ||||||||
| Receivable days | 5 | 5 | 4 | 4 | 3 | 4 | 4 | 1 |
| Inventory days | 982 | 761 | 937 | 906 | 805 | 746 | 614 | 644 |
| Payable days | 24 | 33 | 1,104 | 1,214 | 1,369 | 1,303 | 335 | 409 |
| NWC days | 962 | 732 | -163 | -304 | -561 | -553 | 283 | 235 |
| Leverage | ||||||||
| Current ratio | — | — | 0.43 | 0.54 | 0.57 | 0.36 | 0.46 | 0.42 |
| Debt to EBITDA | 2.38 | 0.44 | 1.56 | — | — | — | 9.38 | — |
| Debt to equity | 0.12 | 0.27 | 0.66 | -55.21 | -1.37 | -0.78 | -1.2 | -1.07 |
| Interest coverage | -5.8 | -1 | -1.5 | -3.3 | -2.2 | -2.6 | -0.1 | -1.7 |
| Asset turnover | 1.14 | 0.96 | 0.75 | 0.9 | 1.02 | 1.37 | 0.92 | 0.8 |
| Return ratios | ||||||||
| Return on assets % | -4.2% | -26.6% | -10.2% | -18.8% | -31.4% | -43.9% | 35.3% | -34.6% |
| Return on capital employed % | -4.9% | -4.6% | -8% | -29.8% | -56.1% | -142.4% | -5.2% | -59% |
| Return on equity % | -9.9% | -133.3% | -68.7% | 4,356.4% | 112.1% | 57.2% | -60% | 63% |
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.