Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 83.4% | 78.1% | 77.7% | 73.7% | 74% | 74.9% | 90.4% | 89.1% |
| EBITDA margin % | 6.6% | 3% | 20.4% | 8.9% | 10.3% | -7.4% | -10.1% | -2.8% |
| EBIT margin % | 3.1% | -0.6% | 17.6% | 5.9% | 7.8% | -10.9% | -14.2% | -6.3% |
| PAT margin % | 5% | -2% | 13% | 4.6% | 8.3% | -11.6% | -13.1% | -7.8% |
| Working capital | ||||||||
| Receivable days | 8 | — | 7 | 3 | 4 | 5 | 3 | 5 |
| Inventory days | 156 | — | 75 | 89 | 95 | 87 | 294 | 213 |
| Payable days | 144 | — | 63 | 64 | 59 | 104 | 380 | 367 |
| NWC days | 20 | — | 19 | 29 | 41 | -11 | -83 | -150 |
| Leverage | ||||||||
| Current ratio | — | — | 1.3 | 0.94 | 0.88 | 0.53 | 0.58 | — |
| Debt to EBITDA | 11.25 | — | 2.03 | 3.39 | 2.45 | — | — | — |
| Debt to equity | 0.7 | — | 0.55 | 0.36 | 0.35 | 0.38 | 0.69 | 0.95 |
| Interest coverage | 1.5 | 0.9 | 3.7 | 5 | 3.7 | -3.2 | -1.3 | -0.9 |
| Asset turnover | 0.48 | 1.1 | 0.71 | 0.74 | 0.84 | 0.63 | 0.51 | 0.58 |
| Return ratios | ||||||||
| Return on assets % | 2.4% | -2.2% | 9.2% | 3.4% | 6.9% | -7.2% | -6.7% | -4.5% |
| Return on capital employed % | — | — | 17.9% | 18.6% | 9.8% | -7.4% | -5.5% | — |
| Return on equity % | 4.7% | — | 17.1% | 5.4% | 11.5% | -13.1% | -13.6% | -10.5% |
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.