Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 43.7% | 44.1% | — | 40.5% | 43% | ||
Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 43.7% | 44.1% | — | 40.5% | 43% | ||
| 42.3% |
| 43.5% |
| EBITDA margin % | -1.2% | 6.1% | 18.2% | 11.7% | 12.8% | 12.4% | 12.5% |
| EBIT margin % | -7.1% | -0% | 13.5% | 7.6% | 8.8% | 8% | 8.1% |
| PAT margin % | -11.6% | -7.1% | 4.6% | 20.6% | 0.7% | 0.4% | -0.6% |
| Working capital | |||||||
| Receivable days | 165 | — | — | 139 | 132 | 134 | 130 |
| Inventory days | 227 | — | — | 203 | 205 | 220 | 190 |
| Payable days | 117 | — | — | 106 | 89 | 105 | 89 |
| NWC days | 275 | — | — | 236 | 248 | 249 | 230 |
| Leverage | |||||||
| Current ratio | 1.02 | 0.94 | 1.29 | 1.27 | 1.36 | 1.31 | 1.16 |
| Debt to EBITDA | — | 19.35 | 5.06 | 5.82 | 5.04 | 5.28 | 5.07 |
| Debt to equity | 1.84 | 2.27 | 1.8 | 0.75 | 0.73 | 0.67 | 0.69 |
| Interest coverage | -0.5 | 0.2 | 1.8 | 1 | 1.3 | 1.1 | 1.2 |
| Asset turnover | 0.47 | 0.45 | 0.57 | 0.52 | 0.55 | 0.5 | 0.53 |
| Return ratios | |||||||
| Return on assets % | -5.5% | -3.2% | 2.6% | 10.8% | 0.4% | 0.2% | -0.3% |
| Return on capital employed % | -4.8% | 2.2% | 14.5% | 6.2% | 7.8% | 6.5% | 7.3% |
| Return on equity % | -20.7% | -13.6% | 9% | 22.9% | 0.8% | 0.4% | -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.