Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 53.7% | 49.4% | 46.7% | 52.6% | 58.2% | 52.5% | 57.1% |
| EBITDA margin % | 2.6% | 8.3% | 7.8% | 8.8% | 8.9% | 5.7% | 7.4% |
| EBIT margin % | 1.1% | 6.8% | 6.9% | 7.9% | 8% | 4.6% | 6.3% |
| PAT margin % | -7.7% | -7.7% | 3.8% | 2% | 4.2% | 2.4% | 0.1% |
| Working capital | |||||||
| Receivable days | — | 210 | 110 | 138 | 110 | 138 | 115 |
| Inventory days | — | 324 | 201 | 240 | 348 | 129 | 126 |
| Payable days | — | 156 | 116 | 145 | 161 | 154 | 161 |
| NWC days | — | 378 | 195 | 234 | 298 | 114 | 79 |
| Leverage | |||||||
| Current ratio | — | 1.25 | 1.23 | 1.36 | 1.37 | 1.4 | 1.3 |
| Debt to EBITDA | — | 6.71 | 4.21 | 3.27 | 2.8 | 4.83 | 2.92 |
| Debt to equity | — | 1.11 | 0.9 | 0.72 | 0.62 | 0.6 | 0.57 |
| Interest coverage | 0.4 | 1.3 | 1.5 | 2.1 | 2.3 | 1.7 | 2.5 |
| Asset turnover | — | 0.5 | 0.81 | 0.86 | 0.88 | 0.76 | 0.83 |
| Return ratios | |||||||
| Return on assets % | — | -3.8% | 3.1% | 1.7% | 3.7% | 1.8% | 0.1% |
| Return on capital employed % | — | 10.8% | 11.9% | 17.3% | 18.1% | 11.8% | 15.8% |
| Return on equity % | — | -15.4% | 10.4% | 5% | 10.6% | 5.2% | 0.3% |
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.