Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.9% | 44.2% | 44.1% | 44% | 38.9% | 35.7% | 35.8% | 38.5% |
| EBITDA margin % | 6.1% | 6.7% | 7.6% | 11.3% | 6.6% | 2.3% | 4.3% | 6.2% |
| EBIT margin % | 1.9% | 1.9% | 2.1% | 8.4% | 3.2% | -1.4% | 1% | 2.8% |
| PAT margin % | -1.3% | -0.5% | 0.9% | 6.5% | 3.2% | -0.5% | -0.8% | 1.1% |
| Working capital | ||||||||
| Receivable days | — | — | 59 | 51 | 44 | 58 | 53 | 51 |
| Inventory days | — | — | 126 | 87 | 107 | 113 | 86 | 81 |
| Payable days | — | — | 39 | 28 | 21 | 28 | 41 | 42 |
| NWC days | — | — | 147 | 110 | 129 | 143 | 98 | 89 |
| Leverage | ||||||||
| Current ratio | — | — | 1.11 | 1.24 | 1.44 | 1.14 | 1.03 | 1.04 |
| Debt to EBITDA | — | — | 5.25 | 2.55 | 4.64 | 19.86 | 8.2 | 5.87 |
| Debt to equity | — | — | 1.16 | 1.06 | 0.87 | 1.45 | 1.32 | 1.22 |
| Interest coverage | 0.7 | 0.7 | 1.1 | 5.2 | 2.9 | -0.2 | 0.6 | 1.4 |
| Asset turnover | — | — | 1.12 | 1.48 | 1.31 | 1.1 | 1.34 | 1.26 |
| Return ratios | ||||||||
| Return on assets % | — | — | 1% | 9.6% | 4.3% | -0.6% | -1.1% | 1.4% |
| Return on capital employed % | — | — | 7.3% | 25.4% | 12.2% | -1.1% | 3.9% | 8.8% |
| Return on equity % | — | — | 2.6% | 23.8% | 9.3% | -1.6% | -3.1% | 3.8% |
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.