Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 43.6% | 43.6% | 47.9% | 46.1% | 36.9% | 42.1% | 44.5% |
| EBITDA margin % | 7.1% | 5.5% | 12.3% | 8.5% | -1.4% | 1.6% | 2.1% |
| EBIT margin % | 2.9% | 0.5% | 8.4% | 4.3% | -5.7% | -2.6% | -2.2% |
| PAT margin % | 1.2% | -0.2% | 4.9% | 1.2% | -5% | -2.6% | -3.4% |
| Working capital | |||||||
| Receivable days | — | 53 | 52 | 39 | 46 | 47 | 53 |
| Inventory days | — | 160 | 139 | 167 | 111 | 124 | 129 |
| Payable days | — | 40 | 35 | 32 | 33 | 39 | 46 |
| NWC days | — | 173 | 156 | 173 | 124 | 132 | 136 |
| Leverage | |||||||
| Current ratio | — | 1.31 | 1.39 | 1.3 | 1.23 | 1.21 | 1.13 |
| Debt to EBITDA | — | 8.7 | 2.49 | 3.66 | — | 20.44 | 17.59 |
| Debt to equity | — | 0.95 | 0.86 | 0.86 | 0.88 | 0.98 | 1.14 |
| Interest coverage | 2.1 | 1.1 | 5.9 | 2.7 | -2 | -0.7 | -0.6 |
| Asset turnover | — | 0.88 | 1.27 | 1.26 | 1.28 | 1.3 | 1.26 |
| Return ratios | |||||||
| Return on assets % | — | -0.2% | 6.2% | 1.5% | -6.4% | -3.3% | -4.2% |
| Return on capital employed % | — | 2.7% | 19.4% | 10.4% | -9.3% | -3.7% | -3.2% |
| Return on equity % | — | -0.4% | 13.7% | 3.4% | -14.1% | -7.6% | -10.6% |
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.