Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 17.1% | 21.9% | 18.6% | ||||
Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 17.1% | 21.9% | 18.6% | ||||
| 20.5% |
| 17% |
| 18.5% |
| 18.3% |
| EBITDA margin % | -19.2% | 0.4% | 10.7% | 6.1% | 6.3% | 6% | 5.5% | 0.2% |
| EBIT margin % | -30.4% | -3.9% | 7% | 2.9% | 3.6% | 3.6% | 2.9% | -3% |
| PAT margin % | -28.5% | -11.6% | -2.1% | -2.1% | -2.2% | -5.5% | -2.8% | -8.6% |
| Working capital | ||||||||
| Receivable days | 48 | 11 | 10 | 16 | 8 | 20 | 15 | 11 |
| Inventory days | 56 | 149 | 202 | 145 | 116 | 174 | 142 | 127 |
| Payable days | 155 | 240 | 223 | 142 | 118 | 194 | 162 | 121 |
| NWC days | -51 | -79 | -11 | 19 | 7 | -0 | -5 | 17 |
| Leverage | ||||||||
| Current ratio | 0.35 | 0.43 | 0.61 | 0.58 | 0.59 | 0.68 | 0.59 | 0.48 |
| Debt to EBITDA | — | 104.73 | 7.34 | 13.27 | 9.84 | 8.56 | 9.75 | 370.52 |
| Debt to equity | -1.8 | -17.01 | -6.69 | -8.58 | -6.3 | -4.01 | -3.5 | -2.67 |
| Interest coverage | -2.3 | -0.3 | 1.1 | 0.6 | 0.7 | 0.5 | 0.6 | -0.2 |
| Asset turnover | 0.6 | 0.75 | 0.82 | 0.91 | 1.19 | 1.11 | 1.23 | 1.24 |
| Return ratios | ||||||||
| Return on assets % | -17.2% | -8.7% | -1.7% | -1.9% | -2.6% | -6.2% | -3.4% | -10.7% |
| Return on capital employed % | -106.7% | -6.5% | 24.3% | 11.7% | 17.3% | 19.9% | 22.8% | -10.6% |
| Return on equity % | 65.9% | 471.8% | 17.6% | 22.5% | 22.3% | 43.6% | 17.9% | 29.6% |
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.