Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 29.2% | 32.1% | 27.9% | 27.9% | 46.7% | 10.3% | 21% |
| EBITDA margin % | 2.3% | 8% | 14.3% | 7.7% | -10.1% | -59% | 2.8% | -7.4% |
| EBIT margin % | 1.7% | 6.9% | 12.9% | 5.9% | -11.9% | -63.4% | 2.2% | -10.5% |
| PAT margin % | -3% | 1.6% | 8% | 0.3% | -7.1% | -66.6% | 2.8% | -18% |
| Working capital | ||||||||
| Receivable days | — | 71 | 191 | 384 | 199 | 292 | 95 | 112 |
| Inventory days | — | 226 | 290 | 445 | 566 | 1,591 | 1 | 41 |
| Payable days | — | 180 | 254 | 478 | 60 | 131 | 76 | 21 |
| NWC days | — | 117 | 226 | 350 | 704 | 1,752 | 20 | 132 |
| Leverage | ||||||||
| Current ratio | — | 1.22 | 1.25 | 1.8 | 3.14 | 2.67 | 1.43 | 2.71 |
| Debt to EBITDA | — | 4.41 | 3.18 | 6.11 | — | — | 0.53 | — |
| Debt to equity | — | 0.55 | 0.55 | 0.36 | 0.31 | 0.12 | 0.05 | 0.14 |
| Interest coverage | 0.5 | 1.3 | 2.2 | 1 | 0.6 | -2.2 | 7.5 | -1.1 |
| Asset turnover | — | 0.67 | 0.53 | 0.35 | 0.42 | 0.23 | 1.79 | 0.6 |
| Return ratios | ||||||||
| Return on assets % | — | 1.1% | 4.2% | 0.1% | -3% | -15% | 5% | -10.8% |
| Return on capital employed % | — | 15.5% | 19% | 6.7% | 3.1% | -18.1% | 8.5% | -5.5% |
| Return on equity % | — | 2.5% | 9.8% | 0.2% | -4.4% | -22.5% | 9.7% | -14.4% |
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.