Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 68.1% | 63% | 76.3% | 76.9% | 85.3% | 89% | 89.3% |
| EBITDA margin % | — | 2.6% | 0.7% | 2% | 1% | 2% | 2.1% | 5.4% |
| EBIT margin % | — | -0.8% | -5% | -3.1% | -3.5% | -3% | -3% | 2.5% |
| PAT margin % | 4.9% | -8% | -21.3% | -25.8% | -25.1% | -5.2% | 1.1% | 4% |
| Working capital | ||||||||
| Receivable days | 16,141 | 130 | 219 | 245 | 268 | 354 | 220 | 187 |
| Inventory days | — | 148 | 204 | 297 | 270 | 524 | 301 | 355 |
| Payable days | — | 498 | 29 | 53 | 1,338 | 2,612 | 2,372 | 1,921 |
| NWC days | — | -220 | 394 | 489 | -801 | -1,734 | -1,852 | -1,379 |
| Leverage | ||||||||
| Current ratio | 1.18 | 1.12 | 1.01 | 0.93 | 0.88 | 0.88 | 1.64 | 2.29 |
| Debt to EBITDA | — | 33.93 | 296.73 | 131.51 | 307.2 | 254.61 | 95.79 | 29.72 |
| Debt to equity | 1.64 | 2.02 | 3.64 | 7.14 | 19.9 | 30.95 | 4.15 | 1.68 |
| Interest coverage | — | 0.1 | -0.1 | -0 | 0 | -0.3 | 1.4 | 4.8 |
| Asset turnover | 0 | 0.43 | 0.24 | 0.21 | 0.18 | 0.13 | 0.25 | 0.26 |
| Return ratios | ||||||||
| Return on assets % | 0% | -3.5% | -5% | -5.3% | -4.5% | -0.7% | 0.3% | 1% |
| Return on capital employed % | -0% | 1.5% | -3% | -1.6% | 3.6% | -6.4% | 1.6% | 2.5% |
| Return on equity % | 0.1% | -18.2% | -37% | -70.3% | -156.6% | -31.2% | 2.3% | 4.1% |
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.