Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.3% | 28.4% | 40.2% | 40% | 28.2% | 20.1% | 22.6% | 21.2% |
| EBITDA margin % | 16.3% | 7.2% | 20.3% | 22.1% | 8.7% | 2.5% | 2.4% | -2% |
| EBIT margin % | 13.4% | 3.1% | 15.8% | 19.2% | 6.1% | -0.6% | -0.6% | -7.1% |
| PAT margin % | 9% | 2.1% | 10.8% | 14.1% | 4.2% | -1.9% | -2.3% | -9.7% |
| Working capital | ||||||||
| Receivable days | 33 | 30 | 29 | 29 | 17 | 32 | 35 | 41 |
| Inventory days | 84 | 69 | 74 | 74 | 76 | 55 | 57 | 49 |
| Payable days | 0 | 0 | 129 | 141 | 118 | 113 | 103 | 77 |
| NWC days | 117 | 99 | -26 | -39 | -25 | -26 | -11 | 14 |
| Leverage | ||||||||
| Current ratio | 1.4 | 1.66 | 1.9 | 1.86 | 1.22 | 1.1 | 1.04 | 0.61 |
| Debt to EBITDA | 0.38 | 2.36 | 0.83 | 0.37 | 2.37 | 22.8 | 34.97 | — |
| Debt to equity | 0.12 | 0.29 | 0.23 | 0.15 | 0.37 | 1.01 | 1.48 | 1.34 |
| Interest coverage | 14.9 | 3.3 | 8.5 | 19.4 | 5.1 | 0.2 | 0.2 | -1.2 |
| Asset turnover | 1.11 | 0.9 | 0.81 | 1.07 | 0.9 | 0.63 | 0.54 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 10% | 1.9% | 8.8% | 15.1% | 3.8% | -1.2% | -1.2% | -3.5% |
| Return on capital employed % | 22.3% | 6.4% | 18.3% | 33.7% | 11.5% | 0.4% | 0.3% | -3.3% |
| Return on equity % | 17% | 3.6% | 14.7% | 25.9% | 7.5% | -3.4% | -4% | -10.7% |
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.