Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 87.2% | 85.2% | 83% | 90.7% | 91.1% | 95.9% | 94.7% |
| EBITDA margin % | 3.5% | 13.6% | 5% | 6.8% | -9.5% | 1.6% | -2.2% |
| EBIT margin % | -3.4% | 7.3% | -0.5% | 1.7% | -15.3% | -3.6% | -7.5% |
| PAT margin % | -12.9% | -3.6% | -13.3% | -77.1% | -27.4% | -16.7% | -10.7% |
| Working capital | |||||||
| Receivable days | 11 | 8 | 13 | 11 | 15 | 15 | 12 |
| Inventory days | 486 | 352 | 288 | 422 | 343 | 808 | 718 |
| Payable days | 223 | 192 | 204 | 12 | 345 | 738 | 593 |
| NWC days | 273 | 168 | 97 | 421 | 13 | 86 | 136 |
| Leverage | |||||||
| Current ratio | 0.17 | 0.16 | 0.14 | 0.11 | 0.07 | 0.08 | 0.23 |
| Debt to EBITDA | 54.13 | 11.54 | 30.63 | 20.97 | — | 103.79 | — |
| Debt to equity | 1.15 | 1.24 | 1.26 | 3.44 | 7.57 | 33.57 | -29.62 |
| Interest coverage | -0 | 0.6 | 0 | 0.2 | -0.8 | -0.2 | -0.5 |
| Asset turnover | 0.23 | 0.29 | 0.28 | 0.37 | 0.32 | 0.33 | 0.49 |
| Return ratios | |||||||
| Return on assets % | -3% | -1.1% | -3.8% | -28.3% | -8.8% | -5.5% | -5.2% |
| Return on capital employed % | -0.3% | 5.8% | 0.2% | 3% | -27.3% | -10.8% | -13% |
| Return on equity % | -8% | -2.9% | -11% | -185.6% | -124.6% | -349.3% | 244.6% |
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.