Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 48.3% | 44.8% | 40.9% | 43.4% | 41.8% | 39.1% | 58.5% |
| EBITDA margin % | 16.5% | 8.6% | 10.8% | 11% | 14.7% | 2.4% | -88.2% |
| EBIT margin % | 9.8% | -0.3% | 5.2% | 6.3% | 10% | -2.8% | -104.8% |
| PAT margin % | 10.5% | -1.3% | 3.9% | 5.5% | 1.3% | -12.9% | -83% |
| Working capital | |||||||
| Receivable days | 54 | 22 | 19 | 12 | 13 | 31 | 15 |
| Inventory days | 261 | 381 | 348 | 437 | 657 | 4,399 | 23,880 |
| Payable days | 146 | 157 | 128 | 106 | 104 | 407 | 1,428 |
| NWC days | 169 | 247 | 239 | 344 | 566 | 4,024 | 22,467 |
| Leverage | |||||||
| Current ratio | — | 1.38 | 1.05 | 1.16 | 1.7 | 1.4 | 1.23 |
| Debt to EBITDA | 8.35 | 4.58 | 2.96 | 2.01 | 3.78 | 168.86 | — |
| Debt to equity | 1.9 | 0.29 | 0.35 | 0.27 | 0.63 | 1.3 | 1.52 |
| Interest coverage | 4.3 | 0.8 | 4.9 | 6.1 | 14.3 | 0.1 | -5.8 |
| Asset turnover | 0.33 | 0.39 | 0.53 | 0.57 | 0.43 | 0.07 | 0.02 |
| Return ratios | |||||||
| Return on assets % | 3.5% | -0.5% | 2.1% | 3.1% | 0.6% | -1% | -1.7% |
| Return on capital employed % | — | 1% | 5.1% | 6.6% | 8.4% | 0.1% | -4.4% |
| Return on equity % | 14.5% | -1% | 4.3% | 6.8% | 1.5% | -4.1% | -9.1% |
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.