Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 68.1% | 69.3% | 67.3% | 59% | 61% | 59.1% | 53.7% |
| EBITDA margin % | -4.2% | 7.4% | 5.7% | -3.4% | 5.9% | 12.6% | 8.4% |
| EBIT margin % | -10.9% | 0.5% | -1.4% | -11.8% | -0.8% | 6.6% | 2.7% |
| PAT margin % | -5% | 2.8% | 2.6% | -15.1% | -4.1% | 6.5% | 11.5% |
| Working capital | |||||||
| Receivable days | — | 74 | 142 | 160 | 131 | 135 | 137 |
| Inventory days | — | 518 | 527 | 414 | 387 | 418 | 349 |
| Payable days | — | 202 | 161 | 193 | 164 | 170 | 128 |
| NWC days | — | 390 | 508 | 382 | 353 | 382 | 359 |
| Leverage | |||||||
| Current ratio | — | 2.72 | 2.98 | 2.48 | 2.39 | 2.05 | 2.48 |
| Debt to EBITDA | — | 1.31 | 4.8 | — | 2.19 | 1.62 | 2.55 |
| Debt to equity | — | 0.05 | 0.13 | 0.12 | 0.09 | 0.18 | 0.17 |
| Interest coverage | -5.2 | 11.1 | 4.8 | -7 | 0.8 | 8.4 | 3.9 |
| Asset turnover | — | 0.4 | 0.38 | 0.42 | 0.54 | 0.59 | 0.59 |
| Return ratios | |||||||
| Return on assets % | — | 1.1% | 1% | -6.3% | -2.2% | 3.9% | 6.8% |
| Return on capital employed % | — | 2.2% | 1.1% | -4.5% | 0.7% | 7% | 4.5% |
| Return on equity % | — | 1.3% | 1.3% | -8.3% | -3% | 5.6% | 9.3% |
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.