Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 24% | 41.1% | 98.3% | 33.8% | 31.3% | 25.6% | 12.6% |
| EBITDA margin % | -52.5% | -97.6% | 46.3% | -58.6% | -42.7% | -41.2% | -39.5% |
| EBIT margin % | -66.6% | -125.3% | 45.8% | -70.9% | -52.8% | -50.8% | -47.4% |
| PAT margin % | -189.1% | 26.1% | 42.1% | 102% | -0.5% | -48.4% | -56.8% |
| Working capital | |||||||
| Receivable days | 230 | 468 | 2 | 706 | 655 | 571 | 454 |
| Inventory days | 17 | 39 | 45 | 51 | 38 | 42 | 19 |
| Payable days | 109 | 325 | 341 | 116 | 52 | 116 | 74 |
| NWC days | 138 | 182 | -294 | 640 | 641 | 496 | 399 |
| Leverage | |||||||
| Current ratio | 0.9 | 0.7 | 1.59 | 8.03 | 8.93 | 7.29 | 1.96 |
| Debt to EBITDA | — | — | 0.13 | — | — | — | — |
| Debt to equity | -2.47 | -1.2 | 0.18 | 0.17 | 0.15 | 0.1 | 0 |
| Interest coverage | -1.8 | 1.2 | 51.4 | 4.6 | -0.8 | -5.7 | -4.6 |
| Asset turnover | 0.06 | 0.03 | 1.73 | 0.11 | 0.15 | 0.19 | 0.18 |
| Return ratios | |||||||
| Return on assets % | -11.1% | 0.8% | 72.9% | 11.2% | -0.1% | -9% | -10.2% |
| Return on capital employed % | -37% | 89% | 152.9% | 18.5% | -1.5% | -7.6% | -12.3% |
| Return on equity % | 88.7% | -7.2% | 130.5% | 14.7% | -0.1% | -11.3% | -16.9% |
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.