Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 87% | 86.3% | 85% | 85.8% | 85.7% | 86.9% | 88.7% |
| EBITDA margin % | 16.3% | -18.8% | -7.9% | 23.6% | 27.9% | 26.1% | 30.4% |
| EBIT margin % | 2.2% | -54.4% | -28.9% | 19.8% | 24.6% | 22.7% | 26.6% |
| PAT margin % | -4.1% | -60.7% | -37.6% | 26.4% | 29.2% | 15.5% | -48% |
| Working capital | |||||||
| Receivable days | — | 52 | 46 | 23 | 21 | 22 | 13 |
| Inventory days | — | 105 | 77 | 27 | 36 | 34 | 29 |
| Payable days | — | 503 | 245 | 133 | 163 | 246 | 370 |
| NWC days | — | -347 | -122 | -82 | -107 | -189 | -327 |
| Leverage | |||||||
| Current ratio | — | 1.44 | 1.16 | 1.93 | 1.96 | 0.33 | 0.23 |
| Debt to EBITDA | — | — | — | 0 | 11.02 | 11.17 | 11.56 |
| Debt to equity | — | 0.17 | 0.2 | 0 | 1.45 | 1.35 | 2.34 |
| Interest coverage | 1.1 | -1.3 | -1.3 | — | 2.7 | 1.7 | 1.6 |
| Asset turnover | — | 0.06 | 0.1 | 0.4 | 0.18 | 0.17 | 0.17 |
| Return ratios | |||||||
| Return on assets % | — | -3.5% | -3.8% | 10.4% | 5.2% | 2.6% | -8.4% |
| Return on capital employed % | — | -2.3% | -2.4% | 4.1% | 18.1% | 16.8% | 9% |
| Return on equity % | — | -4.6% | -5% | 12.4% | 13.8% | 7.2% | -32% |
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.