Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 48.7% | 53.2% | 30.9% | 30.7% | 26.5% | 26.1% | 22.6% |
| EBITDA margin % | 26.4% | 41% | 24.6% | 22.8% | 19.2% | 17.8% | 13.6% |
| EBIT margin % | 2.9% | 14.4% | 11.9% | 10.3% | 7.8% | 10.5% | 5.3% |
| PAT margin % | 9.3% | -60.4% | -60.8% | -57.9% | 264.5% | 6.8% | 1.8% |
| Working capital | |||||||
| Receivable days | 316 | 457 | 248 | 281 | 224 | 271 | 336 |
| Inventory days | 262 | 139 | 22 | 22 | 35 | 40 | 32 |
| Payable days | 5 | 13 | 7 | 46 | 24 | 26 | 24 |
| NWC days | 574 | 582 | 262 | 258 | 235 | 284 | 344 |
| Leverage | |||||||
| Current ratio | 0.41 | 0.33 | 0.25 | 0.17 | 2.28 | 2.95 | 2.24 |
| Debt to EBITDA | 21.73 | 19.12 | 14.33 | 14.89 | 5.48 | 6.05 | 8.97 |
| Debt to equity | 23.67 | -19.58 | -4.32 | -2.42 | 0.81 | 0.77 | 0.78 |
| Interest coverage | 0.1 | 0.6 | 0.3 | 0.3 | 0.3 | 1.5 | 1.1 |
| Asset turnover | 0.09 | 0.08 | 0.18 | 0.19 | 0.35 | 0.34 | 0.31 |
| Return ratios | |||||||
| Return on assets % | 0.9% | -5.1% | -11.2% | -10.8% | 93% | 2.3% | 0.5% |
| Return on capital employed % | 2.2% | 12.1% | 10.5% | 29.8% | 7.3% | 8.2% | 6.1% |
| Return on equity % | 38.4% | 150.7% | 74.4% | 41.3% | 203.9% | 4.8% | 1.1% |
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.