Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.3% | 37% | 52.9% | 34.2% | 36.6% | 39% | 36.8% | 35.4% |
| EBITDA margin % | -0.2% | -28.9% | 16% | 13.5% | 13.9% | 15.8% | 17.1% | 18.1% |
| EBIT margin % | -7% | -43% | 8.2% | 9.6% | 9.6% | 12.9% | 14.7% | 16.2% |
| PAT margin % | -30.6% | -90.6% | 3.1% | -2.7% | 48.4% | 10.1% | 19% | 18.9% |
| Working capital | ||||||||
| Receivable days | 137 | 168 | 130 | 76 | 72 | 102 | 130 | 137 |
| Inventory days | 355 | 400 | 503 | 186 | 176 | 210 | 171 | 152 |
| Payable days | 265 | 253 | 366 | 155 | 86 | 165 | 156 | 172 |
| NWC days | 227 | 315 | 267 | 107 | 162 | 148 | 145 | 117 |
| Leverage | ||||||||
| Current ratio | 0.59 | 0.28 | 1.26 | 1.19 | 1.53 | 1.76 | 1.56 | 1.65 |
| Debt to EBITDA | — | — | 12.84 | 7.18 | 2.29 | 0.11 | 0.15 | 0.09 |
| Debt to equity | -1.13 | -0.88 | -2.05 | -1.81 | 1.73 | 0.03 | 0.05 | 0.03 |
| Interest coverage | -0.2 | -0.9 | 0.3 | 0.9 | 1.4 | 5.3 | 6.7 | 6.1 |
| Asset turnover | 0.57 | 0.46 | 0.51 | 1.02 | 1.08 | 0.91 | 0.84 | 0.89 |
| Return ratios | ||||||||
| Return on assets % | -17.3% | -41.2% | 1.6% | -2.7% | 52.3% | 9.2% | 16% | 16.8% |
| Return on capital employed % | 72.7% | 12.5% | 10.6% | 25.9% | 23.4% | 25.1% | 30.3% | 31.7% |
| Return on equity % | 18.1% | 24.5% | -3.1% | 5% | 262.7% | 16.8% | 33.9% | 33.4% |
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.