Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 48.3% | 51.6% | 51.2% | 57% | 59.3% | 42.8% | 42.4% |
| EBITDA margin % | -3.3% | 4.2% | 10.5% | 12.8% | 21.5% | 13.9% | 10% |
| EBIT margin % | -6.5% | 0% | 5.7% | 8% | 17.3% | 11.1% | 6.9% |
| PAT margin % | -6.1% | -7.2% | 2.6% | 3.5% | 10.5% | 6.9% | 11.8% |
| Working capital | |||||||
| Receivable days | — | 110 | 131 | 97 | 98 | 33 | 50 |
| Inventory days | — | 182 | 141 | 335 | 290 | 235 | 168 |
| Payable days | — | 84 | 79 | 66 | 51 | 178 | 68 |
| NWC days | — | 208 | 193 | 365 | 336 | 90 | 150 |
| Leverage | |||||||
| Current ratio | — | 1.15 | 1.1 | 1.12 | 1.27 | 1.28 | 1.65 |
| Debt to EBITDA | — | 9.2 | 3.72 | 3.2 | 1.05 | 0.7 | 0.84 |
| Debt to equity | — | 0.31 | 0.41 | 0.43 | 0.28 | 0.16 | 0.11 |
| Interest coverage | -1.6 | 0.1 | 2 | 2 | 4.9 | 4.5 | 20.4 |
| Asset turnover | — | 0.52 | 0.62 | 0.57 | 0.61 | 0.79 | 0.8 |
| Return ratios | |||||||
| Return on assets % | — | -3.7% | 1.6% | 2% | 6.4% | 5.4% | 9.5% |
| Return on capital employed % | — | 0.5% | 6.9% | 8.7% | 21.7% | 18.1% | 22.8% |
| Return on equity % | — | -5.9% | 2.8% | 3.6% | 12.9% | 11.6% | 15.9% |
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.