Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 14.9% | 16.3% | -15.4% | 85.9% | 20.8% | 42.2% |
| EBITDA margin % | -18.1% | -3.5% | -84.6% | -86.3% | 14.6% | 25% |
| EBIT margin % | -29.8% | -9.3% | -103.8% | -87.1% | 14.6% | 24.3% |
| PAT margin % | -23.4% | 5.8% | -107.7% | -65.6% | 13.8% | 14.2% |
| Working capital | ||||||
| Receivable days | 342 | 0 | 365 | 328 | 371 | 77 |
| Inventory days | 151 | 208 | 438 | 0 | 1,473 | 417 |
| Payable days | 401 | 0 | 304 | 71 | 515 | 98 |
| NWC days | 91 | 208 | 499 | 257 | 1,329 | 395 |
| Leverage | ||||||
| Current ratio | 0.51 | 0.48 | 0.48 | 22.52 | 1.59 | 1.8 |
| Debt to EBITDA | — | — | — | — | 16.83 | 2 |
| Debt to equity | 0.46 | 0.51 | 0.51 | 0 | 0.82 | 0.67 |
| Interest coverage | -0.1 | 0.4 | 0 | -6.8 | 52.3 | 9.2 |
| Asset turnover | 0.09 | 0.08 | 0.02 | 0.33 | 0.13 | 0.61 |
| Return ratios | ||||||
| Return on assets % | -2% | 0.5% | -2.4% | -21.4% | 1.7% | 8.7% |
| Return on capital employed % | -0.3% | 1.1% | 0.1% | -21.6% | 7.2% | 33.2% |
| Return on equity % | -3.2% | 0.7% | -3.9% | -22.2% | 4.6% | 19.1% |
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.