Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 24.5% | — | — | — | — | — | — | — |
| EBITDA margin % | 11.3% | 7% | 11.5% | 43.2% | 50.9% | 8.5% | 35% | 7.9% |
| EBIT margin % | 7.9% | 4.1% | 8.8% | 39.6% | 41.1% | -19.8% | 16.3% | -10.3% |
| PAT margin % | 4.8% | -10.8% | 7.9% | 39.4% | 40.7% | -18.1% | 7.6% | -13.7% |
| Working capital | ||||||||
| Receivable days | 87 | 92 | 84 | 8 | 5 | 10 | 7 | 31 |
| Inventory days | 18 | 8 | 19 | 9 | 29 | 15 | 12 | 8 |
| Payable days | 48 | 39 | 35 | 43 | 36 | 71 | 51 | 76 |
| NWC days | 57 | 62 | 68 | -26 | -2 | -46 | -32 | -37 |
| Leverage | ||||||||
| Current ratio | 1.22 | 1.01 | 1.33 | 2.33 | 1.18 | 1.32 | 1.6 | 1.09 |
| Debt to EBITDA | 3.53 | 4.46 | 2.48 | 0.77 | 2.03 | 16.98 | 2.11 | 6.69 |
| Debt to equity | 0.56 | 0.52 | 0.38 | 0.28 | 0.61 | 0.53 | 0.41 | 0.43 |
| Interest coverage | 2.7 | 1.5 | 3.2 | 18.1 | 11.8 | -0.3 | 2.6 | -1.8 |
| Asset turnover | 0.73 | 0.85 | 0.8 | 0.59 | 0.36 | 0.23 | 0.37 | 0.48 |
| Return ratios | ||||||||
| Return on assets % | 3.5% | -9.1% | 6.3% | 23.1% | 14.5% | -4.1% | 2.8% | -6.6% |
| Return on capital employed % | 8% | 5% | 10.6% | 32.8% | 21.5% | -0.9% | 7.5% | -4.8% |
| Return on equity % | 6.7% | -17.9% | 10.5% | 33.5% | 24% | -6.7% | 4.2% | -11.1% |
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.