Consolidated figures
| Ratio | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 53.4% | 53.4% | 52.2% | 44.7% | 41.3% | 39.4% | 47.4% | 50.9% |
| EBITDA margin % | -18.2% | -18.2% | 6.4% | 4.6% | 6.9% | 4.6% | 12.2% | 12.7% |
| EBIT margin % | -20.9% | -20.9% | 3.7% | 2.1% | 4.7% | 2.2% | 9.9% | 10.5% |
| PAT margin % | -8.6% | -8.6% | 17.5% | -3.2% | 15.9% | -2.1% | 9.7% | 5.1% |
| Working capital | ||||||||
| Receivable days | — | — | 50 | 32 | 45 | 50 | 57 | 70 |
| Inventory days | — | — | 25 | 42 | 60 | 27 | 43 | 47 |
| Payable days | — | — | 253 | 225 | 218 | 179 | 196 | 172 |
| NWC days | — | — | -177 | -151 | -113 | -103 | -96 | -55 |
| Leverage | ||||||||
| Current ratio | — | — | 0.29 | 0.27 | 0.48 | 0.38 | 0.74 | 1.11 |
| Debt to EBITDA | — | — | 5.31 | 8.91 | 1.9 | 2.77 | 1.57 | 2.27 |
| Debt to equity | — | — | -0.87 | -1.03 | -2.86 | -1.95 | 3.93 | 2.92 |
| Interest coverage | -0 | -0 | 0.5 | 0.5 | 1.2 | 0.5 | 2.1 | 1.8 |
| Asset turnover | — | — | 1.32 | 1.36 | 1.45 | 1.64 | 1.68 | 1.45 |
| Return ratios | ||||||||
| Return on assets % | — | — | 23.1% | -4.4% | 23.1% | -3.4% | 16.3% | 7.4% |
| Return on capital employed % | — | — | -46.1% | -16.1% | -351.5% | -70.9% | 46.3% | 36.1% |
| Return on equity % | — | — | -44.9% | 8.1% | -347.9% | 31.7% | 200.2% | 51.5% |
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.