Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 7% | 12.6% | 19.5% | 12.1% | 15.5% | -11.6% | 21.3% | 22.7% |
| EBITDA margin % | 3.3% | 8.7% | 14.6% | -6% | 10% | -28.3% | 17.6% | 20% |
| EBIT margin % | 3% | 8% | 13.4% | -7.7% | 8.9% | -31.7% | 16.8% | 19.4% |
| PAT margin % | 0% | 1.6% | 2.2% | -24.3% | -8.2% | -104% | 25.7% | 21.3% |
| Working capital | ||||||||
| Receivable days | 84 | — | 185 | 65 | 63 | 110 | 57 | 69 |
| Inventory days | 227 | — | 954 | 1,465 | 1,012 | 3,044 | 1,373 | 1,015 |
| Payable days | 0 | — | 150 | 4 | 3 | 7 | 3 | 2 |
| NWC days | 310 | — | 988 | 1,525 | 1,072 | 3,147 | 1,428 | 1,082 |
| Leverage | ||||||||
| Current ratio | 2.03 | — | 2.16 | 1.7 | 1.63 | 1.37 | 3.3 | 7.05 |
| Debt to EBITDA | 7.45 | — | 5.56 | — | 14.64 | — | 5.23 | 1.6 |
| Debt to equity | 0.54 | — | 0.54 | 0.84 | 0.98 | 1.39 | 0.33 | 0.13 |
| Interest coverage | 1 | 1.3 | 1 | -0.2 | 0.8 | -0.3 | 9.8 | 6.4 |
| Asset turnover | 1.13 | — | 0.36 | 0.21 | 0.32 | 0.08 | 0.27 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | 0% | — | 0.8% | -5.2% | -2.7% | -8.7% | 6.9% | 7.6% |
| Return on capital employed % | 8.8% | — | 9.2% | -1.7% | 9.9% | -3.8% | 10.9% | 11.7% |
| Return on equity % | 0% | — | 1.5% | -10.1% | -5.5% | -21.5% | 9.3% | 8.7% |
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.