Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 56.1% | 80.8% | 81.1% | 92.7% | 98.1% | 94.2% |
| EBITDA margin % | -20% | -29.1% | 10.6% | 43.2% | 46.6% | 40.2% |
| EBIT margin % | -55.7% | -63% | -10.4% | 20% | 20% | 10.7% |
| PAT margin % | -37.2% | -69% | -39.3% | -45.2% | -53.5% | -64.6% |
| Working capital | ||||||
| Receivable days | 333 | 428 | 303 | 33 | 31 | 21 |
| Inventory days | 88 | 114 | 193 | 42 | 290 | 156 |
| Payable days | 316 | 3,802 | 438 | 664 | 2,239 | 699 |
| NWC days | 105 | -3,259 | 58 | -590 | -1,917 | -521 |
| Leverage | ||||||
| Current ratio | 2.19 | 0.67 | 0.99 | 0.45 | 0.52 | 0.3 |
| Debt to EBITDA | — | — | 58.5 | 12.73 | 14.93 | 18.22 |
| Debt to equity | 0.81 | 5.47 | 12.6 | 30.83 | -10.49 | -6.07 |
| Interest coverage | -2 | -1.3 | 0.3 | 0.5 | 0.5 | 0.3 |
| Asset turnover | 0.18 | 0.1 | 0.13 | 0.15 | 0.13 | 0.13 |
| Return ratios | ||||||
| Return on assets % | -6.9% | -6.7% | -5% | -6.7% | -7% | -8.3% |
| Return on capital employed % | -8.4% | -6.8% | 2.7% | 4.7% | 4.5% | 3% |
| Return on equity % | -14.3% | -60.5% | -80% | -253.5% | 80.7% | 53.6% |
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.