Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 2.5% | 2.1% | 6.9% | 16.4% | 23.9% | ||
| 20.9% |
| 18.3% |
| EBITDA margin % | 0.7% | -0.1% | 0.7% | 3.5% | 5.2% | 2.7% | 3.2% |
| EBIT margin % | 0.5% | -0.4% | 0.2% | 2.7% | 4.5% | 2.1% | 2.5% |
| PAT margin % | 0.7% | 1.2% | 1.1% | 3.8% | 4.6% | 2.1% | 2% |
| Working capital | |||||||
| Receivable days | — | 107 | 295 | 95 | 124 | 124 | 91 |
| Inventory days | — | 20 | 74 | 221 | 422 | 278 | 271 |
| Payable days | — | 199 | 188 | 94 | 0 | 46 | 48 |
| NWC days | — | -72 | 181 | 222 | 546 | 355 | 314 |
| Leverage | |||||||
| Current ratio | — | 0.79 | 1.91 | 1.57 | 1.42 | 1.43 | 1.86 |
| Debt to EBITDA | — | — | 5.1 | 2.44 | 2.17 | 4.63 | 4.33 |
| Debt to equity | — | 0.01 | 0.02 | 0.02 | 0.03 | 0.05 | 0.05 |
| Interest coverage | 3.2 | 4.5 | 2.4 | 3.2 | 5.3 | 4.3 | 4.7 |
| Asset turnover | 33.11 | 0.28 | 0.13 | 0.14 | 0.16 | 0.23 | 0.27 |
| Return ratios | |||||||
| Return on assets % | 22.7% | 0.3% | 0.1% | 0.5% | 0.7% | 0.5% | 0.5% |
| Return on capital employed % | — | 0.6% | 0.4% | 0.8% | 1.4% | 1.1% | 1.2% |
| Return on equity % | — | 1.1% | 0.5% | 0.9% | 1.2% | 0.8% | 0.8% |
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.