Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 96.7% | — | — | ||||
| 98.7% |
| — |
| 98.5% |
| 97.8% |
| EBITDA margin % | -14.1% | -124.5% | -23.6% | 13.3% | 14.5% | 6.6% | -51.6% | -28.3% |
| EBIT margin % | -22.3% | -134.7% | -31.4% | 8.5% | 9.7% | 2.9% | -55.1% | -31.9% |
| PAT margin % | -21.5% | -131% | -45.8% | 2% | 7% | 2% | -8.4% | -16.1% |
| Working capital | ||||||||
| Receivable days | — | — | 694 | 282 | 457 | 285 | 148 | 186 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | — | 1,020 | 1,383 | 49,823 | 718 | 29,695 | 18,916 |
| NWC days | — | — | -327 | -1,101 | -49,365 | -433 | -29,547 | -18,730 |
| Leverage | ||||||||
| Current ratio | — | — | 0.97 | 0.94 | 1.87 | 1.01 | 1.48 | 0.78 |
| Debt to EBITDA | — | — | — | 7.98 | 2.87 | 2.62 | — | — |
| Debt to equity | — | — | 0.35 | 0.32 | 0.09 | 0.05 | 0.05 | 0.1 |
| Interest coverage | -1.8 | -3.4 | -1.3 | 1.1 | 2.4 | 1.6 | 3 | -4.6 |
| Asset turnover | — | — | 0.09 | 0.13 | 0.14 | 0.18 | 0.22 | 0.19 |
| Return ratios | ||||||||
| Return on assets % | — | — | -4% | 0.3% | 1% | 0.4% | -1.8% | -3.1% |
| Return on capital employed % | — | — | -3.5% | 2.9% | 2.8% | 1.3% | 1.1% | -3.4% |
| Return on equity % | — | — | -8.3% | 0.6% | 1.5% | 0.6% | -2.8% | -4.6% |
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.