Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 31.5% | 29.6% | 20.8% | 44% | -6.3% | 0.6% | 33% |
| EBITDA margin % | 3.4% | 14.9% | 6.9% | -65.5% | -59.2% | -49.3% | -57.2% |
| EBIT margin % | -4.8% | 4.5% | 2.5% | -79% | -65.8% | -55.7% | -66.3% |
| PAT margin % | -10.7% | -13.2% | -2.7% | -31.6% | -69.4% | -52.1% | -48.8% |
| Working capital | |||||||
| Receivable days | — | 1,693 | 664 | 1,613 | 631 | 416 | 419 |
| Inventory days | — | 6,854 | 2,235 | 9,822 | 2,439 | 2,354 | 5,019 |
| Payable days | — | 2,477 | 846 | 3,448 | 760 | 694 | 1,401 |
| NWC days | — | 6,070 | 2,052 | 7,986 | 2,311 | 2,076 | 4,037 |
| Leverage | |||||||
| Current ratio | — | 1.47 | 1.53 | 2.8 | 2.65 | 2.53 | 2.57 |
| Debt to EBITDA | — | 28.77 | 26.58 | — | — | — | — |
| Debt to equity | — | 0.29 | 0.3 | 0.31 | 0.35 | 0.36 | 0.34 |
| Interest coverage | 0.2 | 0.5 | 0.9 | -1.2 | -14.7 | -62 | -29.5 |
| Asset turnover | — | 0.03 | 0.08 | 0.03 | 0.06 | 0.07 | 0.05 |
| Return ratios | |||||||
| Return on assets % | — | -0.4% | -0.2% | -1% | -4.4% | -3.6% | -2.3% |
| Return on capital employed % | — | 0.4% | 0.6% | -0.6% | -4.9% | -4.2% | -2.6% |
| Return on equity % | — | -0.9% | -0.4% | -1.7% | -7.7% | -6.2% | -3.9% |
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.