Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 21.2% | 24.2% | 27.9% | 47.8% | 31.8% | 30.2% | 19.9% |
| EBITDA margin % | 4.6% | -30.3% | -27.1% | 3.8% | 21% | 22.2% | 6.4% |
| EBIT margin % | 4.6% | -30.3% | -30% | -5.4% | 11.1% | 9.9% | -3.8% |
| PAT margin % | 3.7% | 9.1% | -17.9% | -3.8% | -4.5% | -0.2% | -12.8% |
| Working capital | |||||||
| Receivable days | 205 | 11 | 64 | 323 | 452 | 482 | 199 |
| Inventory days | 55 | 29 | 251 | 209 | 304 | 310 | 73 |
| Payable days | 117 | 234 | 224 | 365 | 178 | 416 | 165 |
| NWC days | 143 | -193 | 91 | 167 | 578 | 376 | 107 |
| Leverage | |||||||
| Current ratio | 1.65 | 0.25 | 0.49 | 0.48 | 0.79 | 1.02 | 0.92 |
| Debt to EBITDA | 18.2 | — | — | 97 | 13.68 | 7.45 | 25.84 |
| Debt to equity | 3.64 | 7.44 | 0.9 | 1.64 | 4.43 | 2.01 | 2.63 |
| Interest coverage | — | — | — | -6 | 0.8 | 1 | -0.1 |
| Asset turnover | 0.64 | 0.1 | 0.24 | 0.15 | 0.24 | 0.29 | 0.37 |
| Return ratios | |||||||
| Return on assets % | 2.4% | 0.9% | -4.4% | -0.6% | -1.1% | -0.1% | -4.7% |
| Return on capital employed % | 4.3% | 1.7% | -9.5% | -1.2% | 9.8% | 18.4% | -1.7% |
| Return on equity % | 16% | 10.9% | -10.2% | -1.7% | -7% | -0.2% | -20.2% |
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.