Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 12.8% | 18.1% | 27.5% | 66.5% | 66.5% |
| EBITDA margin % | |||||
| 5.6% |
| 11.6% |
| 4% |
| 33% |
| -2.7% |
| EBIT margin % | 5.6% | 11.6% | 4% | 33% | -2.7% |
| PAT margin % | 5.5% | 13% | 13.9% | 30% | 7.5% |
| Working capital | |||||
| Receivable days | 49 | 30 | 96 | 65 | 151 |
| Inventory days | 367 | 173 | 490 | 541 | 673 |
| Payable days | 66 | 41 | 150 | 371 | 0 |
| NWC days | 350 | 163 | 437 | 235 | 824 |
| Leverage | |||||
| Current ratio | 4.19 | 3.08 | 2.27 | 1.71 | 2.81 |
| Debt to EBITDA | 0.02 | 0.01 | 0.05 | 0.91 | — |
| Debt to equity | 0 | 0 | 0 | 0.08 | 0.05 |
| Interest coverage | — | — | — | 160.5 | — |
| Asset turnover | 0.37 | 0.55 | 0.16 | 0.21 | 0.13 |
| Return ratios | |||||
| Return on assets % | 2% | 7.2% | 2.3% | 6.2% | 1% |
| Return on capital employed % | 4% | 10.2% | 3.6% | 10.6% | 1.4% |
| Return on equity % | 2.3% | 8.2% | 2.7% | 7.8% | 1.2% |
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.