Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 32.2% | 33.7% | 30.5% | 29.3% | 32.6% | ||
| 30.7% |
| 27.9% |
| EBITDA margin % | 2.8% | 8.6% | 5% | 4.6% | 3.6% | 2% | 7.3% |
| EBIT margin % | -2.8% | 3.3% | 0.8% | 0.9% | -0.7% | -2% | 3.7% |
| PAT margin % | -3.1% | 1.5% | 0.2% | -0.8% | -3.7% | -7% | 11.5% |
| Working capital | |||||||
| Receivable days | — | 68 | 46 | 45 | 46 | 56 | 50 |
| Inventory days | — | 84 | 97 | 91 | 104 | 84 | 55 |
| Payable days | — | 77 | 80 | 75 | 82 | 78 | 70 |
| NWC days | — | 75 | 63 | 61 | 68 | 63 | 34 |
| Leverage | |||||||
| Current ratio | — | 1.22 | 1.24 | 1.12 | 1.11 | 0.99 | 0.92 |
| Debt to EBITDA | — | 5.23 | 6.93 | 7.01 | 9.61 | 18.94 | 4.07 |
| Debt to equity | — | 0.83 | 0.79 | 0.84 | 0.84 | 1.14 | 0.51 |
| Interest coverage | -0.2 | 1.5 | 1.5 | 0.7 | 0.2 | -0.5 | 1.8 |
| Asset turnover | — | 0.8 | 0.98 | 1.07 | 0.99 | 1.03 | 0.88 |
| Return ratios | |||||||
| Return on assets % | — | 1.2% | 0.2% | -0.9% | -3.7% | -7.2% | 10.1% |
| Return on capital employed % | — | 4.8% | 4% | 2.4% | 1% | -2.3% | 6.8% |
| Return on equity % | — | 2.7% | 0.4% | -2.1% | -9.2% | -20.8% | 19.8% |
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.