Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 64% | 64.6% | 57% | 48.1% | 61.4% | ||
| 45% |
| 48.5% |
| EBITDA margin % | 2.1% | 9.6% | 13.4% | 15.6% | 17.3% | 15.1% | 17.1% |
| EBIT margin % | -7.1% | 2.6% | 7.3% | 11.9% | 15.5% | 13.2% | 14.9% |
| PAT margin % | -12.7% | -4.9% | -0.1% | 7.1% | 11.1% | 9.6% | 9.7% |
| Working capital | |||||||
| Receivable days | 61 | 98 | 70 | 51 | 30 | 30 | 45 |
| Inventory days | 479 | 272 | 149 | 94 | 114 | 83 | 99 |
| Payable days | — | 78 | 67 | 47 | 4 | 62 | 80 |
| NWC days | — | 292 | 152 | 98 | 139 | 51 | 64 |
| Leverage | |||||||
| Current ratio | 0.94 | 0.9 | 0.81 | 1.08 | 1.09 | 1.14 | 1.12 |
| Debt to EBITDA | 29.44 | 7.75 | 3.4 | 1.69 | 1.35 | 1.76 | 1.29 |
| Debt to equity | 0.66 | 1.06 | 0.89 | 0.81 | 0.66 | 0.75 | 0.4 |
| Interest coverage | -0.3 | 0.4 | 1.2 | 3.5 | 8.2 | 6.5 | 7.7 |
| Asset turnover | 0.42 | 0.57 | 0.77 | 1.26 | 1.36 | 1.31 | 1.03 |
| Return ratios | |||||||
| Return on assets % | -5.3% | -2.8% | -0.1% | 9% | 15% | 12.6% | 10% |
| Return on capital employed % | -3% | 3.7% | 11% | 30% | 38.6% | 32.5% | 27.1% |
| Return on equity % | -13.5% | -7.1% | -0.2% | 21.8% | 31.5% | 27.1% | 17.6% |
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.