Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 42.5% | 35.9% | 29% | 24.7% | 28.7% | 0.8% | 15.4% |
| EBITDA margin % | 10% | 7.3% | 5.4% | -4.4% | 0.7% | -35.1% | -88.9% |
| EBIT margin % | 8.3% | 5.7% | 4.1% | -6.2% | -1.7% | -42.6% | -345.2% |
| PAT margin % | 3.7% | 2.4% | 1.6% | -6.1% | -3.6% | -58.9% | -759.1% |
| Working capital | |||||||
| Receivable days | — | 67 | 70 | 60 | 64 | 83 | 2,801 |
| Inventory days | — | 61 | 50 | 58 | 72 | 69 | 2,451 |
| Payable days | — | 92 | 75 | 76 | 100 | 156 | 5,388 |
| NWC days | — | 36 | 45 | 42 | 35 | -4 | -136 |
| Leverage | |||||||
| Current ratio | — | 1.32 | 1.33 | 1.03 | 0.96 | 0.68 | 0.58 |
| Debt to EBITDA | — | 1.57 | 2.53 | — | 39.64 | — | — |
| Debt to equity | — | 0.28 | 0.38 | 0.53 | 0.56 | 0.84 | 1.13 |
| Interest coverage | 2.7 | 2.4 | 2.3 | -2.2 | -0.4 | -3.3 | -0.8 |
| Asset turnover | — | 1.35 | 1.46 | 1.27 | 1.06 | 0.44 | 0.01 |
| Return ratios | |||||||
| Return on assets % | — | 3.2% | 2.4% | -7.7% | -3.8% | -26.1% | -10.4% |
| Return on capital employed % | — | 13.5% | 11% | -12.9% | -2.8% | -31.1% | -9.7% |
| Return on equity % | — | 5.8% | 4.5% | -15% | -7.6% | -62.1% | -31.1% |
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.