Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 64.4% | 72.9% | 76.7% | 72.9% | 64.5% | 70.9% | 77% | 76.2% |
| EBITDA margin % | -1% | 6.9% | -11.1% | 1.8% | -8.1% | -4.3% | -1.8% | 7.2% |
| EBIT margin % | -5.9% | -1.9% | -23.4% | -7.2% | -15.8% | -11.3% | -7.2% | 2.1% |
| PAT margin % | -1.2% | -16.5% | -5.8% | 1.3% | -14.7% | -5.4% | 0.8% | -2.7% |
| Working capital | ||||||||
| Receivable days | — | 70 | 88 | 68 | 76 | 82 | 82 | 80 |
| Inventory days | — | 91 | 199 | 137 | 94 | 130 | 106 | 88 |
| Payable days | — | 189 | 391 | 228 | 186 | 225 | 245 | 241 |
| NWC days | — | -27 | -104 | -22 | -15 | -12 | -56 | -73 |
| Leverage | ||||||||
| Current ratio | — | 0.9 | 0.69 | 1.12 | 0.82 | 1.03 | 1.17 | 1.11 |
| Debt to EBITDA | — | 4.37 | — | 30.29 | — | — | — | 5.08 |
| Debt to equity | — | 0.29 | 0.27 | 0.39 | 0.39 | 0.43 | 0.35 | 0.41 |
| Interest coverage | 1 | 1.9 | -0.8 | 1.3 | -1.5 | -0 | 1.3 | 3.4 |
| Asset turnover | — | 0.48 | 0.26 | 0.34 | 0.41 | 0.41 | 0.46 | 0.45 |
| Return ratios | ||||||||
| Return on assets % | — | -7.9% | -1.5% | 0.4% | -6.1% | -2.2% | 0.4% | -1.2% |
| Return on capital employed % | — | 6.5% | -1.7% | 2.5% | -4.6% | -0% | 3.9% | 9.4% |
| Return on equity % | — | -16% | -3.1% | 0.9% | -14% | -5.3% | 0.9% | -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.