Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 18.4% | 25.7% | 22.3% | 19.3% | 20.7% | 25% | 23.4% |
| EBITDA margin % | -14.1% | 10.6% | 7.1% | 4% | 5.4% | 7.8% | 5.9% |
| EBIT margin % | -15.9% | 8.7% | 5.2% | 2.3% | 3.7% | 6.2% | 4.1% |
| PAT margin % | -6.2% | 6% | 3.6% | 1.5% | 2.8% | 4.6% | 3.3% |
| Working capital | |||||||
| Receivable days | 3 | 2 | 3 | 3 | 3 | 3 | 6 |
| Inventory days | 24 | 39 | 36 | 53 | 32 | 42 | 34 |
| Payable days | 10 | 7 | 9 | 6 | 18 | 20 | 22 |
| NWC days | 17 | 35 | 29 | 50 | 17 | 25 | 18 |
| Leverage | |||||||
| Current ratio | 0.84 | 1.25 | 1.59 | 1.44 | 1.71 | 1.82 | 1.4 |
| Debt to EBITDA | — | 0.24 | 0.06 | 1.04 | 0.46 | 0.42 | 1.22 |
| Debt to equity | 0.57 | 0.11 | 0.02 | 0.19 | 0.11 | 0.14 | 0.29 |
| Interest coverage | -5.7 | 11.7 | 37.4 | 22 | 17 | 18.3 | 12.1 |
| Asset turnover | 2.76 | 2.82 | 2.97 | 2.88 | 2.96 | 2.65 | 2.32 |
| Return ratios | |||||||
| Return on assets % | -17.1% | 16.9% | 10.6% | 4.4% | 8.3% | 12.1% | 7.7% |
| Return on capital employed % | -19.4% | 33.4% | 21.6% | 11.2% | 17.3% | 26.2% | 15.8% |
| Return on equity % | -36.9% | 24.9% | 14.6% | 6.8% | 13.2% | 19.4% | 13.6% |
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.