Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 22.1% | — | 18.6% | 16.3% | 21% | 20.8% | 16.5% |
| EBITDA margin % | 8.4% | 0% | 4.1% | 3.1% | 6.8% | 6.3% | -0.9% |
| EBIT margin % | 4.1% | 0% | 0.7% | -0.1% | 3.6% | 3.3% | -4.3% |
| PAT margin % | 0.2% | 0% | -1.4% | -1.6% | -0.5% | -3% | 3.4% |
| Working capital | |||||||
| Receivable days | 15 | 0 | 8 | 9 | 12 | 16 | 16 |
| Inventory days | 230 | 0 | 180 | 145 | 180 | 197 | 201 |
| Payable days | 390 | 0 | 371 | 340 | 345 | 356 | 314 |
| NWC days | -145 | 0 | -183 | -186 | -153 | -143 | -97 |
| Leverage | |||||||
| Current ratio | 0.55 | 0 | 0.43 | 0.37 | 0.41 | 0.44 | 0.44 |
| Debt to EBITDA | 5.52 | — | 6.65 | 5.54 | 5.18 | 5.07 | — |
| Debt to equity | 11.52 | — | -12.31 | -5.14 | -6.13 | -3.56 | 1.63 |
| Interest coverage | 1 | — | 0.6 | 0.5 | 1.1 | 0.5 | -0.4 |
| Asset turnover | 0.65 | 1 | 0.84 | 0.96 | 0.92 | 0.88 | 0.61 |
| Return ratios | |||||||
| Return on assets % | 0.1% | 0% | -1.2% | -1.5% | -0.5% | -2.6% | 2.1% |
| Return on capital employed % | 8.4% | 0% | 14.5% | 18.6% | 89.1% | 76.5% | -13% |
| Return on equity % | 4.1% | — | 63% | 47.1% | 8.7% | 32.8% | 11.1% |
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.