Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | 64.9% | -160.5% | — |
| EBITDA margin % | -21.2% | -47.3% | -26% | -58.3% | -43% | 15% | -336.3% | -124.5% |
| EBIT margin % | -28% | -60% | -43% | -64.7% | -44.1% | 13.6% | -341.8% | -132.5% |
| PAT margin % | -1% | -23.4% | -1.1% | -9.8% | -55.9% | 1.7% | -43.3% | 60.4% |
| Working capital | ||||||||
| Receivable days | 48 | — | 103 | 429 | 478 | 228 | 528 | 26 |
| Inventory days | — | — | 0 | 0 | 0 | 825 | 13 | 177 |
| Payable days | — | — | 47 | 0 | 332 | 0 | 929 | 1,043 |
| NWC days | — | — | 56 | 429 | 145 | 1,054 | -389 | -839 |
| Leverage | ||||||||
| Current ratio | 19.77 | — | 14.09 | 4.15 | 2.39 | 1.49 | 1.01 | 1.37 |
| Debt to EBITDA | — | — | — | — | — | 4.72 | — | — |
| Debt to equity | 0 | — | 0.01 | 0.18 | 0.16 | 0.52 | 0.66 | 0.43 |
| Interest coverage | 0.3 | -50.3 | 7 | -3 | -0.7 | 4.6 | -9.4 | 3 |
| Asset turnover | 0.07 | — | 0.05 | 0.04 | 0.04 | 0.22 | 0.07 | 0.05 |
| Return ratios | ||||||||
| Return on assets % | -0.1% | — | -0.1% | -0.4% | -2% | 0.4% | -2.8% | 3.1% |
| Return on capital employed % | 0% | — | 0.1% | -0.3% | -1.1% | 10.1% | -26.6% | 12.2% |
| Return on equity % | -0.1% | — | -0.1% | -0.5% | -3% | 1.2% | -14.1% | 7.5% |
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.