Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 36.4% | 28.8% | 37.2% | 41.9% | 45.4% | 54.4% | 48.9% |
| EBITDA margin % | 4% | 0.5% | 8.1% | 11% | 11.5% | 15.6% | 13.4% |
| EBIT margin % | -1.5% | -5.7% | 2.4% | 5.2% | 5% | 8.7% | 6.1% |
| PAT margin % | -4.1% | -5.3% | 1.1% | 2.7% | 1% | 1.2% | 0.8% |
| Working capital | |||||||
| Receivable days | — | 70 | 82 | 104 | 110 | 193 | 185 |
| Inventory days | — | 115 | 165 | 172 | 210 | 415 | 251 |
| Payable days | — | 137 | 177 | 172 | 169 | 377 | 220 |
| NWC days | — | 49 | 70 | 103 | 151 | 231 | 216 |
| Leverage | |||||||
| Current ratio | — | 1.19 | 1.22 | 1.36 | 1.44 | 1.44 | 1.4 |
| Debt to EBITDA | — | 29.91 | 2.55 | 1.64 | 1.72 | 1.75 | 2.48 |
| Debt to equity | — | 0.5 | 0.59 | 0.53 | 0.51 | 0.45 | 0.73 |
| Interest coverage | -0.2 | -0.7 | 1.3 | 1.8 | 1.3 | 1.9 | 1.3 |
| Asset turnover | — | 0.99 | 0.91 | 0.9 | 0.84 | 0.55 | 0.67 |
| Return ratios | |||||||
| Return on assets % | — | -5.2% | 1% | 2.4% | 0.9% | 0.7% | 0.6% |
| Return on capital employed % | — | -5.3% | 9.2% | 14.2% | 9.6% | 11.1% | 9.3% |
| Return on equity % | — | -16.4% | 3.1% | 7.8% | 2.6% | 2% | 1.9% |
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.