Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 81% | 82.1% | 82.8% | 80.2% | 78.7% | 78.1% | 77.8% |
| EBITDA margin % | 11.5% | 17.5% | 10% | -2.6% | 1.9% | -9.2% | 8.8% |
| EBIT margin % | 6.5% | 12% | 5.3% | -6.5% | -2.5% | -15% | 2.2% |
| PAT margin % | 1% | 4.6% | 1.6% | -2.3% | -4.5% | -3.5% | -1.5% |
| Working capital | |||||||
| Receivable days | — | 46 | 70 | 54 | 50 | 58 | 20 |
| Inventory days | — | 270 | 368 | 258 | 212 | 224 | 269 |
| Payable days | — | 488 | 565 | 438 | 418 | 395 | 318 |
| NWC days | — | -173 | -127 | -126 | -156 | -113 | -28 |
| Leverage | |||||||
| Current ratio | — | 0.73 | 0.92 | 1.19 | 0.98 | 1.27 | 0.92 |
| Debt to EBITDA | — | 3.85 | 6.37 | — | 26.44 | — | 3.29 |
| Debt to equity | — | 0.53 | 0.52 | 0.51 | 0.47 | 0.11 | 0.13 |
| Interest coverage | 1.1 | 2.1 | 1.4 | -1.3 | -0.3 | -1.6 | 1.9 |
| Asset turnover | — | 0.41 | 0.4 | 0.49 | 0.48 | 0.3 | 0.33 |
| Return ratios | |||||||
| Return on assets % | — | 1.9% | 0.7% | -1.1% | -2.1% | -1% | -0.5% |
| Return on capital employed % | — | 6.8% | 3.2% | -3.6% | -0.7% | -4% | 1.5% |
| Return on equity % | — | 3.6% | 1.3% | -2.2% | -4.1% | -1.4% | -0.7% |
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.