Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 37.2% | 27.8% | 10.9% | 34.4% | 22.1% | 18.7% |
| EBITDA margin % | -3.1% | -16.3% | -43.9% | -19.9% | -23.3% | -7.6% |
| EBIT margin % | -3.5% | -16.8% | -45.2% | -21.6% | -25.5% | -8.9% |
| PAT margin % | -11% | -24.1% | -46.9% | -13.7% | -17.6% | -5.1% |
| Working capital | ||||||
| Receivable days | 50 | 120 | 99 | 70 | 54 | 61 |
| Inventory days | 588 | 456 | 260 | 344 | 464 | 328 |
| Payable days | 194 | 169 | 149 | 176 | 291 | 190 |
| NWC days | 443 | 407 | 210 | 238 | 227 | 199 |
| Leverage | ||||||
| Current ratio | 0.91 | 0.88 | 0.59 | 0.91 | 1.26 | 1.08 |
| Debt to EBITDA | — | — | — | — | — | — |
| Debt to equity | 1.04 | 1.87 | 6.76 | 0.21 | 0.01 | 0.19 |
| Interest coverage | -0.1 | -1.1 | -2.3 | -2 | -196.6 | -4.1 |
| Asset turnover | 0.35 | 0.33 | 0.35 | 0.38 | 0.38 | 0.52 |
| Return ratios | ||||||
| Return on assets % | -3.9% | -7.9% | -16.3% | -5.3% | -6.6% | -2.6% |
| Return on capital employed % | -0.6% | -11.2% | -36.2% | -10.2% | -14.9% | -6.8% |
| Return on equity % | -11% | -31.4% | -186.8% | -9.4% | -11.2% | -5.1% |
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.