Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.9% | 53% | 51.4% | 56.5% | 54.1% | 50.3% | 58.6% | 54.8% |
| EBITDA margin % | 9.3% | 3.9% | 4.3% | 3.9% | 1% | -2.3% | -0.3% | -7.1% |
| EBIT margin % | 3.2% | -4.2% | -3.1% | -5.2% | -9% | -9.3% | -8.6% | -16.5% |
| PAT margin % | 6% | 3.3% | 1% | -4.4% | -4.3% | -3.6% | -2.2% | 1.3% |
| Working capital | ||||||||
| Receivable days | 127 | 128 | 1,099 | 1,295 | 104 | 135 | 128 | 170 |
| Inventory days | 279 | 324 | 0 | 0 | 504 | 511 | 745 | 826 |
| Payable days | 83 | 78 | 2,010 | 4,038 | 84 | 60 | 102 | 141 |
| NWC days | 323 | 374 | -911 | -2,743 | 525 | 586 | 771 | 855 |
| Leverage | ||||||||
| Current ratio | 3.63 | 5.02 | 1.71 | 2.05 | 4.25 | 3.35 | 3.5 | 4.07 |
| Debt to EBITDA | 2.66 | 9.52 | 18.96 | 0.4 | 20.02 | — | — | — |
| Debt to equity | 0.15 | 0.17 | 0.04 | 0 | 0.08 | 0.12 | 0.09 | 0.06 |
| Interest coverage | 5.6 | 3.4 | 2.5 | 1.6 | -0 | -0 | 0.2 | 1.5 |
| Asset turnover | 0.47 | 0.36 | 0.03 | 0.02 | 0.33 | 0.28 | 0.22 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | 2.8% | 1.2% | 0% | -0.1% | -1.4% | -1% | -0.5% | 0.3% |
| Return on capital employed % | 5.3% | 2.9% | 0.2% | 0.1% | -0% | -0% | 0.3% | 1.8% |
| Return on equity % | 3.6% | 1.5% | 0% | -0.1% | -1.6% | -1.2% | -0.5% | 0.3% |
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.