Consolidated figures
| Ratio | Mar 2017 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 9.8% | 11.3% | 13.2% | 7.2% | 22.9% | 55% | 38.5% | 50.2% |
| EBITDA margin % | -4.3% | -38.7% | 3.4% | -0.9% | 5.3% | 25.2% | 16.9% | 22.9% |
| EBIT margin % | -4.4% | -40% | 2.4% | -2.1% | 0.8% | 15% | 12.4% | 17.7% |
| PAT margin % | -0.3% | -41.2% | 0.8% | 4.8% | 6.6% | -38.9% | 8.7% | 12.7% |
| Working capital | ||||||||
| Receivable days | 175 | 192 | 108 | 66 | — | 176 | 25 | 26 |
| Inventory days | 1 | 4 | 5 | 1 | — | 18 | 10 | 20 |
| Payable days | 99 | 42 | 55 | 18 | — | 253 | 65 | 16 |
| NWC days | 76 | 154 | 58 | 48 | — | -59 | -30 | 30 |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | 1.21 | 2.53 | 3.18 |
| Debt to EBITDA | — | — | 14.99 | — | — | 4.48 | 4.47 | 3.89 |
| Debt to equity | 1.23 | -16.25 | -27.63 | 1.07 | — | 1 | 0.56 | 1.22 |
| Interest coverage | — | -5 | 1.9 | 3 | 2.6 | 2.1 | 4.3 | 3.2 |
| Asset turnover | 0.76 | 0.92 | 1.44 | 1.69 | — | 0.32 | 0.38 | 0.5 |
| Return ratios | ||||||||
| Return on assets % | -0.3% | -37.8% | 1.2% | 8.1% | — | -12.6% | 3.3% | 6.4% |
| Return on capital employed % | — | — | — | — | — | 11.2% | 9.4% | 13.6% |
| Return on equity % | -0.9% | 988.5% | -44.1% | 23.8% | — | -34.5% | 6.4% | 17.3% |
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.