Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 14% | 19% | 11.8% | 12.8% | 22.7% | 14% | 17.4% |
| EBITDA margin % | 8.4% | 4.9% | -0.3% | 0.6% | 3.3% | 1% | 5.5% | 7.6% |
| EBIT margin % | 7.8% | 4.3% | -1.2% | 0.2% | 2.9% | 0.8% | 5.4% | 7.3% |
| PAT margin % | 2% | 0.4% | -17.3% | -0% | 0% | -0.1% | 6.2% | 8.6% |
| Working capital | ||||||||
| Receivable days | 176 | 164 | 651 | 468 | 495 | 112 | 187 | 216 |
| Inventory days | 13 | 16 | 47 | 39 | 44 | 13 | 28 | 63 |
| Payable days | 0 | 0 | 255 | 184 | 206 | 130 | 263 | 318 |
| NWC days | 189 | 179 | 443 | 323 | 333 | -5 | -48 | -39 |
| Leverage | ||||||||
| Current ratio | 1.03 | 1.05 | 1.05 | 1.08 | 1.05 | 1.45 | 1.78 | 1.7 |
| Debt to EBITDA | 8.27 | 17.81 | — | 322.32 | 60.89 | 41.38 | 8.63 | 5.25 |
| Debt to equity | 3.32 | 3.89 | 7.03 | 5.66 | 5.12 | 1.19 | 0.48 | 0.37 |
| Interest coverage | 1.4 | 1.2 | 0.8 | 0.9 | 1.1 | 0.9 | 2.4 | 10.5 |
| Asset turnover | 0.58 | 0.57 | 0.25 | 0.34 | 0.32 | 0.7 | 0.39 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | 1.1% | 0.2% | -4.3% | -0% | 0% | -0.1% | 2.4% | 3.3% |
| Return on capital employed % | 15.3% | 13.5% | 4.9% | 2.9% | 4.6% | 4.5% | 7.4% | 5.7% |
| Return on equity % | 9.5% | 1.7% | -44.9% | -0% | 0.1% | -0.3% | 6.2% | 7.9% |
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.