Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 50% | 49.4% | 48% | 46.3% | 44.6% | 44% | 42.8% |
| EBITDA margin % | 11% | 12.2% | -4.4% | 4.3% | 10.2% | 10.8% | 6.8% | 7.3% |
| EBIT margin % | 7.3% | 7% | -24.6% | -5% | 4.4% | 4.6% | 0.1% | 0.5% |
| PAT margin % | 5.9% | 5.1% | -31.4% | -8.1% | 2.1% | 2.5% | -0.4% | -6.7% |
| Working capital | ||||||||
| Receivable days | 105 | — | 211 | 81 | 59 | 61 | 48 | 56 |
| Inventory days | 63 | — | 147 | 95 | 92 | 65 | 73 | 89 |
| Payable days | — | — | 173 | 97 | 84 | 67 | 70 | 87 |
| NWC days | — | — | 184 | 79 | 67 | 58 | 50 | 58 |
| Leverage | ||||||||
| Current ratio | 0.99 | — | 1.01 | 1.18 | 1.53 | 1.82 | 1.36 | 1.1 |
| Debt to EBITDA | 3.22 | — | — | 5.33 | 1.52 | 0.56 | 2.25 | 4.59 |
| Debt to equity | 0.59 | — | 0.4 | 0.24 | 0.22 | 0.07 | 0.19 | 0.47 |
| Interest coverage | 2.8 | 2.9 | -2.5 | -1.2 | 1.8 | 2.5 | 0.8 | 0.7 |
| Asset turnover | 0.83 | — | 0.29 | 0.67 | 0.92 | 0.96 | 0.85 | 0.79 |
| Return ratios | ||||||||
| Return on assets % | 4.9% | — | -9.3% | -5.4% | 1.9% | 2.4% | -0.4% | -5.3% |
| Return on capital employed % | 11.1% | — | -9.6% | -4% | 5.7% | 6.3% | 1.7% | 1.5% |
| Return on equity % | 9.9% | — | -17.1% | -8.6% | 3% | 3.1% | -0.5% | -9.5% |
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.