Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | ||||
| — |
| — |
| — |
| — |
| EBITDA margin % | 11.3% | -2.2% | -2.8% | -11.6% | 6.9% | 7.5% | 9.7% | 20.3% |
| EBIT margin % | 6.6% | -10.6% | -18.4% | -32% | -7.3% | -14.3% | -7.3% | 9.5% |
| PAT margin % | 1.6% | -10.9% | -232.1% | -73.8% | -203.4% | -12.8% | -7.3% | 12.8% |
| Working capital | ||||||||
| Receivable days | 95 | 87 | 154 | 148 | 51 | 73 | 119 | 91 |
| Inventory days | 4 | 6 | 11 | 9 | — | 0 | 0 | 0 |
| Payable days | — | 69 | 119 | 358 | 66 | 75 | 87 | 76 |
| NWC days | — | 24 | 46 | -201 | — | -2 | 32 | 15 |
| Leverage | ||||||||
| Current ratio | 0.66 | 0.32 | 0.22 | 0.17 | 0.73 | 0.75 | 0.45 | 1.12 |
| Debt to EBITDA | 6.36 | — | — | — | 17.37 | 29.94 | 24.74 | 5.53 |
| Debt to equity | 1.82 | 1.51 | -0.59 | -1.34 | 8.79 | 17.3 | -111.44 | 3.3 |
| Interest coverage | 1.7 | -1.4 | -0.6 | -4.8 | -0.1 | -0.4 | 0.1 | 1 |
| Asset turnover | 0.55 | 0.36 | 0.29 | 0.22 | 0.5 | 0.29 | 0.26 | 0.43 |
| Return ratios | ||||||||
| Return on assets % | 0.9% | -4% | -67.5% | -16.4% | -100.8% | -3.7% | -1.9% | 5.4% |
| Return on capital employed % | 6.8% | -5.4% | -19.7% | 15.9% | -0.4% | -2.7% | 0.6% | 12.1% |
| Return on equity % | 4% | -22.3% | 175% | 27.6% | -1,490.3% | -98.5% | 341.1% | 37.5% |
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.