Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 67.2% | 57.5% | 65.1% | 71.8% | 69.7% | 70.1% | 66.2% | 72.3% |
| EBITDA margin % | 8.7% | 4.3% | 7.1% | 7.3% | 2.7% | -9.3% | 5.8% | 5.4% |
| EBIT margin % | 6% | 1.3% | 3.4% | 4.3% | -0% | -12.5% | 3.3% | 2.9% |
| PAT margin % | 0% | -2.3% | -3.6% | 4% | 3.3% | -13.4% | 6% | 2.2% |
| Working capital | ||||||||
| Receivable days | 47 | 45 | 54 | 36 | 21 | 29 | 51 | 54 |
| Inventory days | 278 | 206 | 240 | 389 | 287 | 314 | 225 | 407 |
| Payable days | — | — | 163 | 220 | 129 | 164 | 130 | 197 |
| NWC days | — | — | 130 | 204 | 179 | 180 | 146 | 263 |
| Leverage | ||||||||
| Current ratio | 0.93 | 0.88 | 0.99 | 1.03 | 0.94 | 0.79 | 0.88 | 1.05 |
| Debt to EBITDA | 5.36 | 10.29 | 6.1 | 5.16 | 12.09 | — | 5.41 | 6.36 |
| Debt to equity | 1.21 | 1.06 | 0.74 | 0.57 | 0.52 | 0.59 | 0.57 | 0.58 |
| Interest coverage | 1.1 | 0.5 | 0.6 | 1.5 | 1.1 | -2.2 | 2.1 | 1.9 |
| Asset turnover | 0.81 | 0.77 | 0.69 | 0.68 | 0.82 | 0.76 | 0.86 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | 0% | -1.8% | -2.5% | 2.7% | 2.7% | -10.2% | 5.2% | 1.7% |
| Return on capital employed % | 11.9% | 5.9% | 6.4% | 10.1% | 5.8% | -11% | 9.2% | 7.9% |
| Return on equity % | 0.1% | -5.5% | -6.2% | 6.1% | 5.4% | -22.4% | 10.9% | 3.7% |
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.