Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 79.9% | 66.2% | 41% | 43% | 29.3% | 62.2% | -20.9% | -43.3% |
| EBIT margin % | 79.2% | 65.5% | 40.5% | 42.4% | 28.5% | 61.4% | -21.9% | -44.9% |
| PAT margin % | 29.9% | — | 9.8% | 4.8% | 0.9% | 20.7% | -44% | -68.3% |
| Working capital | ||||||||
| Receivable days | 1 | 6 | 3 | — | — | — | — | — |
| Inventory days | — | — | — | 1 | 0 | 0 | 0 | 0 |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | — | — | — | — | — | — | — | — |
| Debt to EBITDA | 3.56 | 3.19 | 8.83 | 6 | — | 6.25 | — | — |
| Debt to equity | 1.57 | 1.15 | 1.95 | 1.22 | — | 2.59 | 2.15 | 1.85 |
| Interest coverage | 2.3 | 2.7 | 1.5 | 1.2 | 1 | 1.7 | -0.5 | -0.8 |
| Asset turnover | 0.21 | 0.24 | 0.17 | 0.21 | 0.15 | 0.18 | 0.28 | 0.16 |
| Return ratios | ||||||||
| Return on assets % | 6.3% | — | 1.7% | 1% | 0.1% | 3.7% | -12.2% | -11.2% |
| Return on capital employed % | — | — | — | — | — | — | — | — |
| Return on equity % | 16.5% | — | 5.3% | 2.3% | 0.4% | 13.7% | -39.3% | -32.8% |
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.