Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 72.9% | 32.7% | 12.5% | 20.8% | 21.8% | 16.7% | 13.8% | 10.7% |
| EBITDA margin % | 0.1% | -3.3% | -7.8% | 1.2% | 2.5% | 2.2% | 2.4% | 2.4% |
| EBIT margin % | -2.1% | -6.4% | -10.6% | -0.4% | 0.9% | 1.5% | 1.9% | 1.9% |
| PAT margin % | -0.2% | -3.6% | -15.6% | 2.9% | 2.7% | 4.8% | 3.5% | 2.3% |
| Working capital | ||||||||
| Receivable days | 92 | 89 | 131 | 93 | 76 | 112 | 62 | 67 |
| Inventory days | 153 | 76 | 17 | 33 | 36 | 17 | 15 | 11 |
| Payable days | 280 | 1 | 172 | 159 | 126 | 161 | 67 | — |
| NWC days | -35 | 164 | -24 | -34 | -14 | -32 | 10 | — |
| Leverage | ||||||||
| Current ratio | 1.21 | 1.09 | 0.87 | 0.99 | 1.03 | 1.11 | 1.27 | 1.25 |
| Debt to EBITDA | 301.92 | — | — | 8.34 | 2.73 | 1.79 | 1 | 0.66 |
| Debt to equity | 0.54 | 0.59 | 0.27 | 0.14 | 0.15 | 0.1 | 0.09 | 0.15 |
| Interest coverage | — | — | -1.3 | 3.2 | 3.3 | 6.2 | 8.3 | 12.1 |
| Asset turnover | 1.22 | 0.84 | 0.64 | 0.82 | 1.17 | 1.15 | 2.02 | 2.21 |
| Return ratios | ||||||||
| Return on assets % | -0.2% | -3% | -10% | 2.3% | 3.2% | 5.5% | 7% | 5.1% |
| Return on capital employed % | -2.8% | -6.6% | -3.9% | 9.3% | 8.2% | 12.4% | 11.1% | 13.1% |
| Return on equity % | -0.5% | -11.8% | -20.1% | 4.2% | 6% | 12.1% | 13.2% | 22.2% |
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.