Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.3% | 44.8% | 31.6% | 37.5% | ||||
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 45.3% | 44.8% | 31.6% | 37.5% | ||||
| 29.6% |
| 35.3% |
| 37.6% |
| 35.6% |
| EBITDA margin % | 4% | 4.3% | -16.5% | 5.5% | -3.2% | 5.6% | 5.8% | 3.5% |
| EBIT margin % | 2.4% | 1.7% | -19% | 4.5% | -4.1% | 4.7% | 4.8% | 2.2% |
| PAT margin % | -3.1% | -8.2% | -7.5% | 3.8% | 3.1% | 2% | 1.6% | 12.4% |
| Working capital | ||||||||
| Receivable days | — | 52 | 69 | 39 | 30 | 38 | 32 | 32 |
| Inventory days | — | 309 | 217 | 184 | 144 | 173 | 240 | 278 |
| Payable days | — | — | 84 | 64 | 50 | 48 | 71 | 65 |
| NWC days | — | — | 203 | 159 | 125 | 163 | 201 | 245 |
| Leverage | ||||||||
| Current ratio | — | 1.37 | 2.71 | 1.32 | 3.04 | 3.69 | 1.12 | 1.38 |
| Debt to EBITDA | — | 21.52 | — | 8.03 | — | 5.1 | 5.49 | 9.92 |
| Debt to equity | — | 3.99 | 4.49 | 3.06 | 1.76 | 1.62 | 1.64 | 1.11 |
| Interest coverage | 0.5 | 0.3 | 0.7 | 2 | 2 | 2 | 1.9 | 4.4 |
| Asset turnover | — | 0.66 | 0.84 | 1.32 | 1.75 | 1.7 | 1.38 | 1.2 |
| Return ratios | ||||||||
| Return on assets % | — | -5.4% | -6.3% | 5% | 5.4% | 3.4% | 2.1% | 14.8% |
| Return on capital employed % | — | 4.5% | 9.5% | 16.7% | 18% | 10.8% | 14% | 44.4% |
| Return on equity % | — | -35.8% | -44.1% | 26.6% | 20.1% | 11.1% | 8% | 39.7% |
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.