Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 3% | 2.8% | 12.3% | 12.4% | 22.7% | 13.9% | 7% | 5.4% |
| EBITDA margin % | -3.3% | -10.7% | 0.7% | 1% | 4.8% | 6.8% | 2.3% | -1% |
| EBIT margin % | -3.5% | -10.9% | 0.1% | 0.6% | 4.1% | 6.3% | 1.8% | -1.3% |
| PAT margin % | -2.5% | -7.6% | 3.4% | 4.1% | 4.3% | 0.3% | 2.6% | -0.7% |
| Working capital | ||||||||
| Receivable days | 145 | 137 | 412 | 200 | 345 | 378 | 335 | 204 |
| Inventory days | 51 | 38 | 169 | 68 | 85 | 27 | 309 | 405 |
| Payable days | 92 | 78 | 162 | 12 | 23 | 19 | 32 | 17 |
| NWC days | 104 | 97 | 418 | 256 | 407 | 386 | 611 | 593 |
| Leverage | ||||||||
| Current ratio | 1.68 | 1.49 | 1.52 | 1.29 | 3.72 | 5.67 | 6.12 | 7.57 |
| Debt to EBITDA | — | — | 117.4 | 37.65 | 5.3 | 1.07 | 1.44 | — |
| Debt to equity | 0.17 | 0.2 | 0.28 | 0.23 | 0.08 | 0.02 | 0.01 | 0.08 |
| Interest coverage | -0.7 | -4.3 | 1.5 | 3.2 | 2.5 | 13.2 | 7.4 | 3.7 |
| Asset turnover | 0.76 | 0.67 | 0.17 | 0.32 | 0.26 | 0.23 | 0.26 | 0.3 |
| Return ratios | ||||||||
| Return on assets % | -1.9% | -5% | 0.6% | 1.3% | 1.1% | 0.1% | 0.7% | -0.2% |
| Return on capital employed % | -1.9% | -10.2% | 3.6% | 5% | 2.2% | 2.9% | 1% | 0.3% |
| Return on equity % | -3.8% | -10.4% | 1.2% | 2.7% | 1.3% | 0.1% | 0.8% | -0.2% |
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.