Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 36.5% | 41.1% | 28.5% | 24.4% | 37.3% | ||
Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 36.5% | 41.1% | 28.5% | 24.4% | 37.3% | ||
| 40.5% |
| 34.5% |
| EBITDA margin % | 30.2% | 35.1% | 24.1% | 19.4% | 33.1% | 34% | 24.6% |
| EBIT margin % | 14.7% | 20.5% | 13.7% | 11.3% | 26.2% | 25.3% | 16.1% |
| PAT margin % | -62.4% | 8.5% | 2.3% | 1% | 15.1% | 14.9% | 8.1% |
| Working capital | |||||||
| Receivable days | 43 | 87 | 73 | 74 | 64 | 63 | 72 |
| Inventory days | 57 | 38 | 57 | 59 | 45 | 65 | 49 |
| Payable days | 37 | 42 | 37 | 35 | 0 | 25 | 28 |
| NWC days | 62 | 83 | 94 | 98 | 109 | 104 | 93 |
| Leverage | |||||||
| Current ratio | 0.65 | 1.02 | 1.15 | 1.19 | 1.82 | 2.41 | 2.7 |
| Debt to EBITDA | 5.5 | 4.52 | 4.56 | 4.24 | 1.9 | 2.03 | 2.47 |
| Debt to equity | 0.92 | 0.51 | 0.49 | 0.46 | 0.37 | 0.31 | 0.27 |
| Interest coverage | 0.8 | 1.4 | 1.6 | 1.4 | 4.8 | 3.9 | 3 |
| Asset turnover | 0.19 | 0.19 | 0.27 | 0.33 | 0.39 | 0.31 | 0.31 |
| Return ratios | |||||||
| Return on assets % | -12% | 1.7% | 0.6% | 0.3% | 5.9% | 4.6% | 2.5% |
| Return on capital employed % | 3.6% | 5.2% | 5.7% | 5.3% | 14.3% | 10.3% | 6.9% |
| Return on equity % | -34.7% | 2.7% | 1% | 0.5% | 8.9% | 6.6% | 3.5% |
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.