Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 20.9% | -1.7% | 18% | 1.5% | 26.1% | 28.1% | 34.9% |
| EBITDA margin % | -1.1% | -9.4% | 3.6% | -16.2% | -27.7% | -20.1% | 1.6% |
| EBIT margin % | -1.1% | -9.5% | 3.4% | -16.5% | -27.7% | -20.1% | 1.6% |
| PAT margin % | -1.1% | -4.3% | 1.3% | -13.1% | -22.7% | -16.6% | 0.4% |
| Working capital | |||||||
| Receivable days | 74 | 29 | 30 | 18 | 52 | 24 | 19 |
| Inventory days | 384 | 163 | 270 | 272 | 809 | 664 | 381 |
| Payable days | 279 | 93 | 62 | 2 | 8 | 15 | 7 |
| NWC days | 179 | 99 | 238 | 288 | 853 | 673 | 393 |
| Leverage | |||||||
| Current ratio | 2.13 | 2.33 | 4.79 | 40.43 | 49.6 | 36.83 | 55.75 |
| Debt to EBITDA | — | — | 9.6 | — | — | — | 38.25 |
| Debt to equity | 0.32 | 0.4 | 0.39 | 0.42 | 0.42 | 0.4 | 0.38 |
| Interest coverage | — | — | — | — | — | — | — |
| Asset turnover | 0.53 | 1 | 0.73 | 0.52 | 0.2 | 0.26 | 0.47 |
| Return ratios | |||||||
| Return on assets % | -0.6% | -4.3% | 0.9% | -6.8% | -4.6% | -4.3% | 0.2% |
| Return on capital employed % | -0.7% | -7.4% | 1.6% | -8.4% | -5.5% | -5% | 0.8% |
| Return on equity % | -1.1% | -7.9% | 1.4% | -9.5% | -6.3% | -5.7% | 0.2% |
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.