Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 23.2% | 25% | 56.2% | 36.8% | 28.8% | 27.3% | 26.6% | 27.3% |
| EBITDA margin % | 1.2% | 1.6% | -44.4% | -9.9% | 3.5% | 6% | 5.9% | 5.1% |
| EBIT margin % | 0.2% | -0.7% | -63% | -16.7% | 1.1% | 4.2% | 4.1% | 3.2% |
| PAT margin % | 1.4% | -0.3% | -37.1% | -13.5% | 0.2% | 3.7% | 3.2% | 2.6% |
| Working capital | ||||||||
| Receivable days | — | — | 59 | 45 | 41 | 32 | 28 | 29 |
| Inventory days | — | — | 18 | 7 | 3 | 3 | 2 | 3 |
| Payable days | — | — | 827 | 305 | 181 | 148 | 153 | 168 |
| NWC days | — | — | -749 | -253 | -137 | -113 | -123 | -137 |
| Leverage | ||||||||
| Current ratio | — | — | 0.83 | 0.68 | 0.8 | 0.86 | 0.92 | 0.86 |
| Debt to EBITDA | — | — | — | — | 2.2 | 0.51 | 0.5 | 0.65 |
| Debt to equity | — | — | 0.23 | 0.27 | 0.23 | 0.11 | 0.11 | 0.11 |
| Interest coverage | 1.8 | 0.7 | -5.6 | -4.2 | 1.3 | 4.5 | 5.1 | 4.5 |
| Asset turnover | — | — | 0.17 | 0.41 | 0.89 | 1.14 | 1.14 | 1.06 |
| Return ratios | ||||||||
| Return on assets % | — | — | -6.2% | -5.5% | 0.2% | 4.2% | 3.6% | 2.8% |
| Return on capital employed % | — | — | -11.7% | -9.1% | 4.4% | 15.5% | 15.3% | 12.7% |
| Return on equity % | — | — | -15.3% | -15% | 0.6% | 13.2% | 11.4% | 8.7% |
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.