Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 46.8% | 49.1% | 50.8% | 46.2% | 51.6% | 43.4% | 49% | 46.5% |
| EBITDA margin % | 7.7% | 12.5% | 15.3% | 10.8% | 12.2% | 4.6% | 12.5% | 6.2% |
| EBIT margin % | 4.4% | 9.3% | 11.6% | 6.9% | 8.5% | -0.3% | 8.7% | 2.1% |
| PAT margin % | 0.3% | 2.8% | 5.5% | 4.3% | 2.4% | -6.5% | -9.5% | 1.4% |
| Working capital | ||||||||
| Receivable days | 86 | 88 | 83 | 77 | 66 | 65 | 72 | 79 |
| Inventory days | 219 | 204 | 200 | 178 | 255 | 205 | 226 | 199 |
| Payable days | 3 | 6 | 99 | 2 | 129 | 130 | 162 | 200 |
| NWC days | 302 | 286 | 184 | 254 | 192 | 140 | 136 | 78 |
| Leverage | ||||||||
| Current ratio | 1.46 | 1.23 | 1.66 | 1.5 | 1.37 | 1.36 | 1.4 | 1.27 |
| Debt to EBITDA | 6.38 | 3.75 | 2.96 | 4.08 | 3.8 | 8.9 | 3.1 | 6.25 |
| Debt to equity | 1.18 | 1.21 | 0.84 | 0.83 | 0.95 | 0.76 | 0.72 | 0.64 |
| Interest coverage | 1.5 | 2.3 | 3.8 | 3.6 | 2.5 | 0.2 | 1.6 | 0.9 |
| Asset turnover | 0.82 | 0.85 | 0.8 | 0.78 | 0.82 | 0.83 | 0.82 | 0.74 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | 2.4% | 4.4% | 3.4% | 1.9% | -5.4% | -7.8% | 1% |
| Return on capital employed % | 9.1% | 15.4% | 16.9% | 11.8% | 12% | 0.9% | 13.2% | 5.1% |
| Return on equity % | 0.8% | 7.4% | 10.2% | 8.1% | 4.9% | -12.1% | -17.5% | 2.3% |
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.