Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 21.5% | 25.1% | 26.7% | 24% | 28.7% | 18.2% | — |
| EBITDA margin % | — | 9.3% | 7.1% | 9.5% | 3.5% | 9.1% | -1.6% | — |
| EBIT margin % | — | 6.7% | 3.2% | 6.1% | -0.3% | 5.5% | -5.3% | — |
| PAT margin % | 1.5% | 1.3% | -4.7% | 1.5% | -1.6% | 0.3% | -6.8% | — |
| Working capital | ||||||||
| Receivable days | 66 | 62 | 89 | 98 | 67 | 82 | 75 | — |
| Inventory days | — | — | 265 | 260 | 212 | 215 | 184 | — |
| Payable days | — | — | 108 | 112 | 100 | 127 | 117 | — |
| NWC days | — | — | 245 | 246 | 178 | 170 | 143 | — |
| Leverage | ||||||||
| Current ratio | 1.28 | 1.29 | 1.25 | 1.56 | 1.38 | 1.32 | 1.21 | 9.71 |
| Debt to EBITDA | — | 3.37 | 7.63 | 5.01 | 13.97 | 4.15 | — | — |
| Debt to equity | 0.73 | 0.65 | 0.79 | 0.73 | 0.71 | 0.59 | 0.61 | 0 |
| Interest coverage | -0.4 | 1.3 | 0.5 | 1.4 | 0.5 | 1.2 | -1.2 | -1.4 |
| Asset turnover | 1.15 | 0.9 | 0.65 | 0.7 | 0.7 | 0.77 | 0.82 | 0 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | 1.2% | -3.1% | 1% | -1.1% | 0.2% | -5.6% | -47.1% |
| Return on capital employed % | -4.1% | 11.7% | 4.1% | 8.7% | 2.8% | 8.4% | -7.8% | -6.4% |
| Return on equity % | 4.3% | 2.8% | -6.9% | 2.3% | -2.3% | 0.5% | -11.9% | -50.3% |
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.