Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 26.8% | 33.7% | 33.1% | 49.1% | 34.2% | 39.3% | 33.1% |
| EBITDA margin % | -7.3% | -0.7% | 1.6% | 1.3% | 0.8% | 5.5% | 2.4% |
| EBIT margin % | -26.9% | -13.9% | -6% | -9.7% | -6.5% | -3.1% | -2.2% |
| PAT margin % | -28.1% | -122.6% | -7.8% | 252.5% | -10.7% | -91.2% | 187% |
| Working capital | |||||||
| Receivable days | 5 | 0 | — | 0 | 0 | 1 | 0 |
| Inventory days | 24 | 20 | 15 | 8 | 7 | 12 | 15 |
| Payable days | — | — | 32 | 46 | 41 | 37 | 18 |
| NWC days | — | — | — | -38 | -34 | -24 | -3 |
| Leverage | |||||||
| Current ratio | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.1 |
| Debt to EBITDA | — | — | 194.2 | 155.22 | 267.21 | 43.37 | 25.91 |
| Debt to equity | -1.19 | -0.33 | -1.42 | -1.74 | -1.62 | -1 | -1.61 |
| Interest coverage | -8.8 | -7.3 | -3.2 | -2.5 | -1.4 | -0.5 | -0.2 |
| Asset turnover | 0.22 | 0.53 | 0.63 | 0.62 | 0.65 | 1.06 | 1.05 |
| Return ratios | |||||||
| Return on assets % | -6.3% | -64.6% | -4.9% | 155.5% | -7% | -96.8% | 196.2% |
| Return on capital employed % | 33.1% | 5.3% | 2.7% | 8.6% | 5.2% | 1.2% | 3.1% |
| Return on equity % | 16.7% | 51% | 3.6% | -215% | 8.5% | 38% | -477.6% |
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.