Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.1% | 28.6% | 33.8% | 26.5% | 25.3% | 30.4% | 31.8% | 26.6% |
| EBITDA margin % | 7.5% | 3.5% | 8.7% | 3.1% | 4.4% | 9.8% | 9% | 1.2% |
| EBIT margin % | 4% | -0.7% | 3.9% | -0.1% | 2.8% | 8.7% | 7.9% | -0% |
| PAT margin % | 3.5% | 0.8% | 2% | -1.4% | -0.4% | 7.4% | 10.7% | -0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 40 | — | 25 | 19 | 23 | 26 |
| Inventory days | — | — | 110 | — | 91 | 76 | 77 | 77 |
| Payable days | — | — | 93 | — | 60 | 52 | 60 | 65 |
| NWC days | — | — | 58 | — | 56 | 42 | 40 | 38 |
| Leverage | ||||||||
| Current ratio | — | — | 0.54 | — | 0.4 | 0.55 | 0.66 | 0.53 |
| Debt to EBITDA | — | — | 4.76 | — | 14.78 | 4.22 | 3.45 | 24.75 |
| Debt to equity | — | — | -1 | — | -1.81 | -2.27 | -8.08 | -6.89 |
| Interest coverage | 4.7 | 0.3 | 1.9 | 0.1 | 1.4 | 6.3 | 7.4 | 0.2 |
| Asset turnover | — | — | 1.33 | — | 1.75 | 2.32 | 2.15 | 1.83 |
| Return ratios | ||||||||
| Return on assets % | — | — | 2.6% | — | -0.7% | 17.2% | 23% | -0.8% |
| Return on capital employed % | — | — | -783.4% | — | -11.1% | -251.7% | 148.4% | 8.2% |
| Return on equity % | — | — | -4.7% | — | 1.1% | -40.6% | -278.5% | 10.2% |
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.