Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 37.4% | 23.3% | 29.6% | 53.2% | ||||
| 29.6% |
| 31.8% |
| 35.5% |
| 36.2% |
| EBITDA margin % | 11.5% | -18.6% | -11% | -186.3% | -128.3% | -113.7% | 3.9% | 1.4% |
| EBIT margin % | 8.9% | -22.1% | -14.8% | -201.3% | -148.7% | -124.3% | 1.7% | -0.9% |
| PAT margin % | 5.7% | -4.9% | -21.9% | -650.9% | -207.7% | 379.5% | 0.9% | -9.5% |
| Working capital | ||||||||
| Receivable days | 143 | 204 | 278 | 144 | 251 | 199 | 156 | 239 |
| Inventory days | 313 | 296 | 359 | 1,935 | 1,664 | 1,017 | 226 | 325 |
| Payable days | 17 | 149 | 120 | 1,095 | 1,485 | 753 | 139 | 192 |
| NWC days | 440 | 352 | 517 | 983 | 430 | 462 | 243 | 372 |
| Leverage | ||||||||
| Current ratio | 1.23 | 1.29 | 1.35 | 0.57 | 0.42 | 0.75 | 1.23 | 1.07 |
| Debt to EBITDA | 3.5 | — | — | — | — | — | 21.7 | 82.49 |
| Debt to equity | 0.6 | 0.94 | 1.24 | -1.98 | -1.37 | 4.98 | 3.26 | 3.3 |
| Interest coverage | 2 | -0.1 | -1.1 | -3.4 | -1.6 | -3.1 | 1.1 | 0.2 |
| Asset turnover | 0.66 | 0.51 | 0.42 | 0.17 | 0.13 | 0.16 | 0.6 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | 3.7% | -2.5% | -9.3% | -113.5% | -26% | 61.4% | 0.5% | -4.5% |
| Return on capital employed % | 15.4% | -0.5% | -11.1% | -70.7% | 46.4% | -56.7% | 16.4% | 4.4% |
| Return on equity % | 8.4% | -6.2% | -29.8% | 214.5% | 31.1% | 803.7% | 3.5% | -27.7% |
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.