Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 91.8% | 92.8% | 85% | 92.6% | 31.6% | — |
| EBITDA margin % | 39.3% | 35.9% | -38.1% | 13.5% | -216.8% | 56.6% |
| EBIT margin % | 26.9% | 22.3% | -80.6% | -32.8% | -442.3% | 35.2% |
| PAT margin % | 4.5% | 0.9% | -103.2% | -23.9% | -243.4% | 6% |
| Working capital | ||||||
| Receivable days | 73 | 43 | 114 | 118 | 466 | — |
| Inventory days | 4,344 | 3,775 | 2,780 | 3,812 | 1,773 | 3,479 |
| Payable days | 1,714 | 1,283 | 1,639 | 2,824 | 1,346 | — |
| NWC days | 2,704 | 2,535 | 1,256 | 1,106 | 893 | — |
| Leverage | ||||||
| Current ratio | 1.34 | 1.02 | 0.86 | 0.75 | 0.58 | 1.2 |
| Debt to EBITDA | 8.1 | 12.89 | — | 46.53 | — | — |
| Debt to equity | 1.34 | 1.87 | 3.26 | 4.01 | 6.73 | — |
| Interest coverage | 1.3 | 1.1 | -0.7 | -0.5 | -2.1 | 1 |
| Asset turnover | 0.14 | 0.12 | 0.07 | 0.11 | 0.02 | 0.03 |
| Return ratios | ||||||
| Return on assets % | 0.6% | 0.1% | -7.6% | -2.7% | -5.6% | 0.2% |
| Return on capital employed % | 5% | 4.2% | -6.5% | -4.8% | -14% | 1.4% |
| Return on equity % | 1.9% | 0.4% | -37% | -15.3% | -45.8% | — |
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.