Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 54.2% | 51.4% | 49.4% | 48.2% | 50.5% | 50.8% | 45.9% | 51.9% |
| EBITDA margin % | 5% | 6.7% | 12% | 8.7% | 2.4% | 4.3% | 1.9% | -4.1% |
| EBIT margin % | 0.4% | 3.4% | 9.6% | 6.7% | 0.4% | 2.1% | -3.8% | -10.9% |
| PAT margin % | 3.2% | 4.8% | 8.3% | 6.3% | 1.3% | 3% | -7.1% | -2.2% |
| Working capital | ||||||||
| Receivable days | 101 | 102 | 100 | 113 | 92 | 99 | 122 | 135 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | — | 285 | 244 | 232 | 253 | 243 | 194 | 322 |
| NWC days | — | — | -143 | -119 | -160 | -143 | -72 | -187 |
| Leverage | ||||||||
| Current ratio | 1.97 | 1.93 | 1.79 | 1.7 | 1.47 | 1.22 | 1.22 | 1.16 |
| Debt to EBITDA | — | — | 0 | 0 | 0.64 | 0.59 | 3.87 | — |
| Debt to equity | — | — | 0 | 0 | 0.01 | 0.02 | 0.07 | 0.11 |
| Interest coverage | 392.5 | 25 | 68 | 56.1 | 21.6 | 6.8 | -2.7 | -0.2 |
| Asset turnover | 0.68 | 0.63 | 0.61 | 0.57 | 0.58 | 0.58 | 0.66 | 0.53 |
| Return ratios | ||||||||
| Return on assets % | 2.2% | 3% | 5.1% | 3.6% | 0.7% | 1.7% | -4.7% | -1.2% |
| Return on capital employed % | 5.4% | 6.1% | 10% | 6.4% | 1.9% | 4.6% | -2.5% | -0.2% |
| Return on equity % | 3.3% | 4.7% | 7.3% | 5% | 1% | 2.4% | -6.5% | -1.8% |
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.