Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 28.4% | 29.5% | 28.5% | 32.4% | 28.2% | 43.6% |
| EBITDA margin % | -22.9% | -16.6% | -24.6% | -17.6% | 3.8% | 11.1% |
| EBIT margin % | -26.1% | -18% | -26.4% | -21.7% | 0.8% | 7.9% |
| PAT margin % | -45.5% | -33.9% | -17.1% | -17.5% | 3.3% | 8.7% |
| Working capital | ||||||
| Receivable days | 244 | 115 | 91 | 108 | 157 | 176 |
| Inventory days | 400 | 132 | 55 | 72 | 43 | 35 |
| Payable days | 270 | 177 | 178 | 181 | 144 | 146 |
| NWC days | 374 | 70 | -32 | -1 | 57 | 65 |
| Leverage | ||||||
| Current ratio | 1.06 | 0.7 | 0.73 | 0.54 | 1 | 2.21 |
| Debt to EBITDA | — | — | — | — | 2.14 | 0.51 |
| Debt to equity | 2.72 | -2.12 | -0.15 | -0.25 | 0.3 | 0.09 |
| Interest coverage | -2.7 | -3.9 | -4.1 | -4.6 | 4 | 16.4 |
| Asset turnover | 0.49 | 1.15 | 1.66 | 1.45 | 1.04 | 1.02 |
| Return ratios | ||||||
| Return on assets % | -22.3% | -38.9% | -28.4% | -25.4% | 3.4% | 8.8% |
| Return on capital employed % | -55.6% | -354% | 3,430.8% | 68.5% | 8% | 20.7% |
| Return on equity % | -147.6% | 178.6% | 184.1% | 55.6% | 12.1% | 13.9% |
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.