Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 14.7% | 52.3% | 68.9% | 63.5% | 44% | — |
| EBITDA margin % | -11.3% | -13.5% | -4.4% | -13.4% | -2.2% | — |
| EBIT margin % | -12.9% | -16% | -6.4% | -15.6% | -8.6% | — |
| PAT margin % | -8.3% | -22.1% | -3.9% | -19.2% | 34.8% | — |
| Working capital | ||||||
| Receivable days | 56 | 24 | 13 | 14 | 42 | — |
| Inventory days | 293 | 829 | 816 | 467 | 556 | — |
| Payable days | 82 | 289 | 17 | 4 | 2 | — |
| NWC days | 267 | 564 | 812 | 477 | 596 | — |
| Leverage | ||||||
| Current ratio | 0.89 | 0.82 | 0.75 | 0.64 | 0.75 | 0.74 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | 9.95 | -10.52 | -6.08 | -2.07 | -0.26 | -0.41 |
| Interest coverage | 0 | -1.3 | -0.1 | -1.5 | 3.4 | -0.3 |
| Asset turnover | 0.57 | 0.36 | 0.5 | 0.53 | 0.26 | 0 |
| Return ratios | ||||||
| Return on assets % | -4.7% | -8% | -1.9% | -10.1% | 8.9% | -3.2% |
| Return on capital employed % | 3.2% | -273.1% | 4.2% | 34.2% | -77.9% | 1.1% |
| Return on equity % | -134.6% | 202.4% | 28.1% | 54.1% | -40.7% | 13% |
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.