Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 84.4% | 84.8% | 81.2% | 80.9% | 78.2% | 80.5% | 79.3% | 79.5% |
| EBITDA margin % | 1.4% | 13.6% | 12.2% | 11.6% | 17.7% | 13.7% | 13.8% | 15.3% |
| EBIT margin % | -1.9% | 8.8% | 7.3% | 7.5% | 14.5% | 10.1% | 10% | 11.5% |
| PAT margin % | -1.3% | 4.5% | -4.1% | 3.7% | -0.6% | 3.5% | 7.3% | 6.2% |
| Working capital | ||||||||
| Receivable days | 92 | 90 | 89 | 87 | 80 | 90 | 107 | 130 |
| Inventory days | 78 | 70 | 86 | 161 | 134 | 136 | 104 | 121 |
| Payable days | 137 | 177 | 188 | 218 | 153 | 125 | 100 | 220 |
| NWC days | 34 | -17 | -12 | 31 | 61 | 101 | 111 | 31 |
| Leverage | ||||||||
| Current ratio | 1.03 | 0.99 | 1.07 | 0.99 | 1.51 | 1.9 | 2.22 | 1.53 |
| Debt to EBITDA | 15.4 | 1.33 | 1.14 | 0.69 | 2.16 | 1.83 | 1.33 | 1.56 |
| Debt to equity | 0.46 | 0.39 | 0.24 | 0.15 | 0.93 | 0.41 | 0.29 | 0.38 |
| Interest coverage | 0.1 | 2.4 | 2.3 | 3.5 | 3.5 | 1.9 | 3.8 | 5 |
| Asset turnover | 0.78 | 0.78 | 0.71 | 0.77 | 0.91 | 0.84 | 0.91 | 0.79 |
| Return ratios | ||||||||
| Return on assets % | -1% | 3.5% | -2.9% | 2.9% | -0.5% | 2.9% | 6.7% | 4.9% |
| Return on capital employed % | 0.3% | 14.9% | 12.3% | 14.4% | 27.6% | 16.3% | 15.2% | 17.7% |
| Return on equity % | -2.7% | 9.6% | -7.1% | 6.8% | -1.4% | 5.7% | 11.6% | 9.9% |
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.