Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | 15.3% | 10.5% | 19.5% | 14.5% |
| EBITDA margin % | 4.4% | -9.3% | -56.2% | -22.7% | -18.2% | -80.7% | -45.6% | -10.3% |
| EBIT margin % | 3.7% | -10.6% | -60.4% | -24.4% | -20.2% | -87.1% | -50.4% | -12.3% |
| PAT margin % | 20% | -31.8% | -43% | 41.1% | 17% | 46.4% | 16.5% | 25.3% |
| Working capital | ||||||||
| Receivable days | 86 | 68 | 124 | 85 | 78 | 184 | 136 | 71 |
| Inventory days | 866 | 658 | 1,890 | 1,090 | 1,490 | 6,494 | 5,436 | 1,876 |
| Payable days | 121 | 70 | 190 | 131 | 136 | 374 | 284 | 175 |
| NWC days | 830 | 657 | 1,824 | 1,044 | 1,432 | 6,304 | 5,288 | 1,771 |
| Leverage | ||||||||
| Current ratio | 2.22 | 2.5 | 2.23 | 1.89 | 1.52 | 1.6 | 1.44 | 1.43 |
| Debt to EBITDA | 7.87 | — | — | — | — | — | — | — |
| Debt to equity | 0.11 | 0.12 | 0.15 | 0.16 | 0.15 | 0.47 | 0.76 | 0.18 |
| Interest coverage | 6.7 | -3.9 | -7.2 | -12.5 | -6.4 | -15.9 | -5 | -5.3 |
| Asset turnover | 0.2 | 0.24 | 0.06 | 0.13 | 0.17 | 0.04 | 0.06 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 4% | -7.7% | -2.8% | 5.3% | 2.8% | 2% | 1% | 3.6% |
| Return on capital employed % | 3.9% | -1.5% | -4.4% | -4.4% | -3.7% | -5.4% | -3.6% | -1.8% |
| Return on equity % | 6.2% | -11.4% | -4.4% | 9% | 5.7% | 5.2% | 3.2% | 8.2% |
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.