Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60.5% | 53.8% | 40% | 44.5% | ||||
| 52.5% |
| 44.4% |
| 57.5% |
| 47.7% |
| EBITDA margin % | 13.3% | -2.3% | -19.1% | -22.3% | -21.7% | -28% | -29% | -8.2% |
| EBIT margin % | 13.3% | -3% | -19.7% | -23.7% | -23.2% | -29.7% | -30.2% | -9.1% |
| PAT margin % | 12.4% | -4.3% | -21.9% | -15.8% | -30.6% | -38.5% | -35.9% | 23.8% |
| Working capital | ||||||||
| Receivable days | 35 | 44 | 47 | 47 | — | — | — | — |
| Inventory days | 251 | 231 | 163 | 191 | 260 | 166 | 274 | 0 |
| Payable days | — | — | 95 | 127 | — | — | — | — |
| NWC days | — | — | 115 | 111 | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | 1.35 | 0.96 | — | — | — | — |
| Debt to EBITDA | 1.22 | — | — | — | — | — | — | — |
| Debt to equity | 0.02 | 0.02 | 0.07 | 0.04 | 0.06 | 0.06 | 0.04 | 0 |
| Interest coverage | 10.5 | -1.2 | -7.7 | -4.5 | -3.9 | -4.6 | -4.9 | 11.3 |
| Asset turnover | 0.12 | 0.17 | 0.19 | 0.09 | 0.12 | 0.07 | 0.07 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | 1.5% | -0.7% | -4.1% | -1.4% | -3.7% | -2.8% | -2.6% | 2.2% |
| Return on capital employed % | — | — | -3.9% | -2.5% | — | — | — | — |
| Return on equity % | 1.5% | -0.8% | -4.6% | -1.6% | -4.2% | -3.3% | -3% | 2.4% |
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.