Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 64.9% | 49% | 22.1% | 35.9% | 36.7% | ||
| 77.7% |
| 37.4% |
| EBITDA margin % | 32.8% | 25.2% | 5.8% | 19.3% | 17.9% | 16.6% | 0.6% |
| EBIT margin % | 30% | 22.4% | 4.2% | 17.5% | 16.6% | 15% | -2.2% |
| PAT margin % | -9.9% | -22.2% | -16.4% | -0.3% | 4.9% | 2.5% | 30.8% |
| Working capital | |||||||
| Receivable days | 34 | 63 | 39 | 40 | 37 | 46 | 35 |
| Inventory days | 5,090 | 3,709 | 950 | 974 | 821 | 2,348 | 1,339 |
| Payable days | 108 | 82 | 29 | 82 | 108 | 159 | 68 |
| NWC days | 5,016 | 3,690 | 960 | 932 | 749 | 2,235 | 1,306 |
| Leverage | |||||||
| Current ratio | 2.81 | 1.95 | 2.14 | 1.84 | 1.63 | 2.62 | 2.88 |
| Debt to EBITDA | 7.6 | 15.71 | 28.86 | 4.97 | 3.85 | 4.84 | 144.04 |
| Debt to equity | 0.91 | 1.39 | 1.33 | 0.84 | 0.69 | 0.78 | 0.45 |
| Interest coverage | 0.8 | 0.4 | 0.2 | 1 | 1.8 | 1.5 | 2.9 |
| Asset turnover | 0.15 | 0.14 | 0.31 | 0.38 | 0.43 | 0.45 | 0.31 |
| Return ratios | |||||||
| Return on assets % | -1.5% | -3.1% | -5.1% | -0.1% | 2.1% | 1.1% | 9.5% |
| Return on capital employed % | 7.6% | 5.1% | 2.2% | 10.6% | 13.3% | 13.1% | 24% |
| Return on equity % | -3.6% | -7.8% | -13% | -0.3% | 4.9% | 2.4% | 16.9% |
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.