Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 69.6% | 69.3% | 67.3% | 68.7% | 68.5% | 68.2% |
| EBITDA margin % | 12.2% | 17.7% | 18.9% | 17.8% | 16.5% | 15.2% |
| EBIT margin % | -8.3% | 5.3% | 7.2% | 5.3% | 3.9% | 2.6% |
| PAT margin % | -9.8% | 2.7% | 10.3% | 2% | 0.6% | -1% |
| Working capital | ||||||
| Receivable days | 3 | 3 | 3 | 5 | 5 | 4 |
| Inventory days | 56 | 45 | 49 | 44 | 38 | 41 |
| Payable days | 170 | 138 | 107 | 104 | 98 | 104 |
| NWC days | -111 | -90 | -55 | -55 | -55 | -59 |
| Leverage | ||||||
| Current ratio | 0.46 | 1.32 | 0.92 | 0.82 | 0.92 | 0.63 |
| Debt to EBITDA | 0.61 | 0.2 | 2.25 | 0.06 | 0.04 | 0.01 |
| Debt to equity | 0.16 | 0.06 | 0.77 | 0.02 | 0.01 | 0 |
| Interest coverage | -0.3 | 1.7 | 2.2 | 1.7 | 1.3 | 0.9 |
| Asset turnover | 0.76 | 0.8 | 0.87 | 0.91 | 0.95 | 0.96 |
| Return ratios | ||||||
| Return on assets % | -7.4% | 2.1% | 9% | 1.8% | 0.5% | -1% |
| Return on capital employed % | -2.2% | 9.4% | 10.3% | 7.7% | 6% | 4.1% |
| Return on equity % | -20.8% | 4.6% | 18.6% | 3.9% | 1.2% | -2.3% |
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.