Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 65.9% | 66.6% | 74.9% | 70.7% | 60.3% | 78.6% | 68% |
| EBITDA margin % | 7.8% | 3.9% | 2.6% | -0.9% | 3.4% | 6.5% | 7.2% | 8.5% |
| EBIT margin % | 6.9% | 2.2% | 0.9% | -2.5% | 1.9% | 5.6% | 5.8% | 7.4% |
| PAT margin % | 0.1% | 0.5% | -0.7% | -3.9% | -0.7% | 0.8% | 8.2% | 8.6% |
| Working capital | ||||||||
| Receivable days | 138 | 97 | 85 | 68 | 78 | 73 | 80 | 106 |
| Inventory days | 9 | 17 | 16 | 19 | 12 | 7 | 14 | 7 |
| Payable days | 79 | 116 | 161 | 116 | 153 | 115 | 187 | 238 |
| NWC days | 68 | -2 | -60 | -29 | -63 | -34 | -93 | -125 |
| Leverage | ||||||||
| Current ratio | 0.88 | 1.17 | 1.01 | 0.94 | 0.75 | 0.9 | 1.72 | 1.67 |
| Debt to EBITDA | 4.14 | 5.79 | 3.43 | — | 7.85 | 2.74 | 2.87 | 1.95 |
| Debt to equity | -15.11 | 1.42 | 2.35 | 59.72 | -12.27 | 2.98 | 1.36 | 0.79 |
| Interest coverage | 2.5 | 1.4 | 0.9 | -0.4 | 1.1 | 2.9 | 3.6 | 6 |
| Asset turnover | 1.48 | 1.62 | 1.63 | 1.71 | 1.84 | 1.87 | 1.45 | 1.32 |
| Return ratios | ||||||||
| Return on assets % | 0.2% | 0.9% | -1.2% | -6.7% | -1.2% | 1.4% | 11.9% | 11.4% |
| Return on capital employed % | 154.9% | 22.3% | 11.2% | -14.3% | 114.5% | 141.6% | 35.8% | 28.4% |
| Return on equity % | -5.8% | 3.3% | -18.7% | -1,688.6% | 30.3% | 12.5% | 54.2% | 40.9% |
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.