Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78.4% | 66.5% | 47.3% | 49.5% | 48.5% | 98.3% | — | 96.5% |
| EBITDA margin % | 4.1% | 1.7% | 1.8% | 1.5% | -1.4% | 3.1% | -0.8% | 4.4% |
| EBIT margin % | -0.7% | -3.4% | -1.4% | -0.5% | -3.9% | 1.5% | -2.1% | 2.7% |
| PAT margin % | 2.4% | -13.7% | 0.8% | 0.7% | -2.1% | 2.7% | -8.7% | 4.2% |
| Working capital | ||||||||
| Receivable days | — | — | 29 | 26 | 12 | 18 | 22 | 23 |
| Inventory days | — | — | 4 | 2 | 3 | 103 | 1 | 11 |
| Payable days | — | — | 56 | 51 | 37 | 692 | 14 | 337 |
| NWC days | — | — | -23 | -23 | -21 | -572 | 9 | -303 |
| Leverage | ||||||||
| Current ratio | — | — | 1.15 | 1.09 | 1.07 | 1.2 | 1.25 | 1.18 |
| Debt to EBITDA | — | — | 2.59 | 3.69 | — | 1.9 | — | 3.99 |
| Debt to equity | — | — | 0.14 | 0.22 | 0.36 | 0.1 | 0.36 | 0.35 |
| Interest coverage | 6 | -0.5 | 9.2 | 13.1 | -9.9 | 16.5 | 6.2 | 18.3 |
| Asset turnover | — | — | 1.34 | 1.41 | 1.43 | 0.68 | 0.63 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1.1% | 1% | -3.1% | 1.8% | -5.5% | 2.4% |
| Return on capital employed % | — | — | 5.8% | 6% | -5.1% | 12.8% | 6% | 14.6% |
| Return on equity % | — | — | 2.4% | 2.7% | -9.3% | 4.8% | -18.3% | 8.2% |
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.