Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 51.9% | 51.2% | 54.3% | 55.3% | 55.2% | 56.8% | 57.6% |
| EBITDA margin % | 13.8% | 10.6% | 13.6% | 12.1% | 10.5% | 9% | 8% |
| EBIT margin % | 3.7% | -7.8% | 1.3% | 2.2% | -1.4% | -6.9% | -8.3% |
| PAT margin % | -1.9% | -14% | -1.5% | -0.5% | -5.3% | -6.2% | -10.2% |
| Working capital | |||||||
| Receivable days | 35 | 42 | 34 | 26 | 33 | 19 | 18 |
| Inventory days | 205 | 263 | 287 | 277 | 262 | 282 | 298 |
| Payable days | — | 307 | 335 | 253 | 241 | 258 | 248 |
| NWC days | — | -1 | -13 | 50 | 55 | 43 | 68 |
| Leverage | |||||||
| Current ratio | 0.73 | 0.92 | 0.92 | 1.01 | 1.01 | 1.55 | 1.25 |
| Debt to EBITDA | 2.17 | 2.05 | 1.12 | 1.54 | 2.87 | 2.18 | 2.58 |
| Debt to equity | 2.46 | 0.43 | 0.44 | 0.69 | 1.04 | 0.21 | 0.29 |
| Interest coverage | 0.9 | -0.7 | 0.6 | 0.8 | 0.1 | -0.6 | -0.7 |
| Asset turnover | 0.9 | 0.51 | 0.66 | 0.73 | 0.62 | 0.44 | 0.46 |
| Return ratios | |||||||
| Return on assets % | -1.7% | -7.2% | -1% | -0.3% | -3.3% | -2.7% | -4.7% |
| Return on capital employed % | 9.7% | -6.6% | 3.2% | 4.7% | 0.4% | -2.4% | -2.9% |
| Return on equity % | -15.5% | -27.8% | -4.3% | -1.8% | -18.2% | -6.7% | -14.2% |
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.