Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 21.4% | 29.2% | 21.2% | 29.2% | 18.7% | 15.7% | 27.8% | 12.7% |
| EBITDA margin % | -1.3% | 11.3% | -2.7% | 2% | 0.4% | 1.3% | 1.5% | -5.2% |
| EBIT margin % | -5.6% | 6.2% | -10.3% | -5.1% | -6.4% | -2.8% | -4.8% | -8.7% |
| PAT margin % | 1.1% | 9.9% | -12.4% | 0.4% | -49.1% | 16.4% | -9% | -5.2% |
| Working capital | ||||||||
| Receivable days | 23 | 26 | 75 | 35 | 91 | 31 | 33 | 13 |
| Inventory days | 213 | 335 | 203 | 56 | 12 | 8 | 166 | 78 |
| Payable days | — | 59 | 75 | 53 | 25 | 12 | 28 | 25 |
| NWC days | — | 303 | 203 | 37 | 77 | 27 | 171 | 65 |
| Leverage | ||||||||
| Current ratio | 2.57 | 2.62 | 2.05 | 3.46 | 5.12 | 4.94 | 3.89 | 4.07 |
| Debt to EBITDA | — | 4.12 | — | 13.51 | 115.77 | 20.62 | 49.8 | — |
| Debt to equity | 0.32 | 0.22 | 0.14 | 0.09 | 0.06 | 0.05 | 0.06 | 0.19 |
| Interest coverage | 0.5 | 2.8 | 0.3 | 1.9 | 7.4 | 8.3 | 8.3 | 2.7 |
| Asset turnover | 0.38 | 0.33 | 0.26 | 0.28 | 0.1 | 0.15 | 0.08 | 0.12 |
| Return ratios | ||||||||
| Return on assets % | 0.4% | 3.2% | -3.2% | 0.1% | -5% | 2.5% | -0.7% | -0.6% |
| Return on capital employed % | 1.8% | 6.5% | 0.5% | 2.3% | 3.4% | 4.5% | 4.9% | 2.8% |
| Return on equity % | 0.6% | 4.7% | -4.3% | 0.1% | -5.9% | 2.9% | -0.8% | -0.8% |
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.