Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.6% | 26.8% | 31.2% | |||||
| 34.2% |
| 29.7% |
| 27.3% |
| 27.1% |
| 50.3% |
| EBITDA margin % | 0.1% | -11.4% | 3.2% | 13.3% | 0.6% | -3% | -3.8% | 13.4% |
| EBIT margin % | -2.2% | -14% | 0.6% | 12% | -0.8% | -4.5% | -7.3% | -4.2% |
| PAT margin % | 2.5% | 1.1% | -9.5% | 9.3% | -0.5% | -3.2% | -7.4% | 289.1% |
| Working capital | ||||||||
| Receivable days | — | — | 10 | 6 | 9 | 4 | 2 | 11 |
| Inventory days | — | — | 75 | 74 | 90 | 70 | 57 | 381 |
| Payable days | — | — | — | 73 | 103 | 96 | 143 | 25 |
| NWC days | — | — | — | 7 | -4 | -22 | -85 | 367 |
| Leverage | ||||||||
| Current ratio | — | — | — | 0.57 | 0.52 | 0.38 | 0.18 | 0.5 |
| Debt to EBITDA | — | — | 11.39 | 0.33 | 18.29 | — | — | 12.65 |
| Debt to equity | — | — | -3.37 | 1.4 | 2.42 | 5.67 | -10.26 | 0.56 |
| Interest coverage | -56.2 | -150.5 | 19.7 | 60.4 | -1.2 | -1.4 | -4.2 | 0.2 |
| Asset turnover | — | — | 1.65 | 2.79 | 2.08 | 2.3 | 1.37 | 0.18 |
| Return ratios | ||||||||
| Return on assets % | — | — | -15.6% | 26% | -1.1% | -7.2% | -10.1% | 51.9% |
| Return on capital employed % | — | — | — | 220% | -5.8% | -15.8% | -216.5% | 0.5% |
| Return on equity % | — | — | 86.9% | 299.7% | -10.6% | -165.8% | 256.4% | 95.9% |
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.