Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 30.3% | 29.6% | 31.9% | 26.9% | — | — | 98.1% |
| EBITDA margin % | 11.4% | 6.5% | 1.4% | 9.9% | 5.9% | 9.3% | 15.9% | 4.9% |
| EBIT margin % | 4.6% | -0.9% | -6.7% | 3% | -1.1% | 2.5% | 9.9% | -2.3% |
| PAT margin % | -12.1% | 4.8% | -0.8% | -4.4% | -12.4% | -5.2% | 38.9% | 23.7% |
| Working capital | ||||||||
| Receivable days | 85 | 97 | 86 | 82 | 45 | 28 | 24 | 21 |
| Inventory days | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 144 |
| Payable days | 426 | 558 | 511 | 491 | 424 | 328 | 313 | 16,321 |
| NWC days | -340 | -459 | -423 | -408 | -377 | -298 | -286 | -16,156 |
| Leverage | ||||||||
| Current ratio | 0.51 | 0.52 | 0.48 | 0.42 | 0.35 | 0.35 | 0.21 | 0.17 |
| Debt to EBITDA | 7.27 | 11.72 | 57.72 | 6.92 | 9.39 | 4.72 | 1.68 | 4.79 |
| Debt to equity | 1.12 | 1.46 | 1.27 | 1.01 | 1.23 | 1.11 | 0.44 | 0.27 |
| Interest coverage | 1.5 | 0.8 | -0.1 | 0.6 | 0.1 | 0.4 | 1.5 | -0 |
| Asset turnover | 0.28 | 0.29 | 0.27 | 0.29 | 0.34 | 0.37 | 0.36 | 0.29 |
| Return ratios | ||||||||
| Return on assets % | -3.4% | 1.4% | -0.2% | -1.3% | -4.2% | -1.9% | 13.9% | 6.8% |
| Return on capital employed % | 8.3% | 5.8% | -0.5% | 4.3% | 1% | 3.9% | 9.1% | -0.1% |
| Return on equity % | -16.4% | 9.3% | -1.2% | -6.4% | -27.6% | -13.1% | 63.6% | 27.1% |
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.