Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 38.3% | 36.9% | 34.6% | 34.7% | 34.3% | 35.3% | 29.4% |
| EBITDA margin % | 1.7% | 9.3% | 8% | 7.7% | 6.3% | 6.5% | 5.5% |
| EBIT margin % | -3.4% | 4.9% | 4.1% | 4% | 1.9% | 1.6% | 1.8% |
| PAT margin % | -2.7% | 3.4% | 0.6% | 1.2% | -2.2% | -0.9% | 0.1% |
| Working capital | |||||||
| Receivable days | — | 35 | 40 | 47 | 29 | 24 | 24 |
| Inventory days | — | 143 | 118 | 127 | 172 | 221 | 195 |
| Payable days | — | 157 | 134 | 132 | 187 | 127 | 126 |
| NWC days | — | 21 | 24 | 42 | 14 | 118 | 93 |
| Leverage | |||||||
| Current ratio | — | 0.7 | 0.75 | 0.83 | 0.78 | 1.78 | 1.28 |
| Debt to EBITDA | — | 1.05 | 0.37 | 1.24 | 1.59 | 0.42 | 2.54 |
| Debt to equity | — | 0.11 | 0.04 | 0.13 | 0.13 | 0.01 | 0.16 |
| Interest coverage | 0.2 | 1.6 | 1.7 | 2 | 0.6 | 0.9 | 2.8 |
| Asset turnover | — | 0.53 | 0.64 | 0.65 | 0.6 | 0.37 | 0.65 |
| Return ratios | |||||||
| Return on assets % | — | 1.8% | 0.4% | 0.8% | -1.3% | -0.3% | 0.1% |
| Return on capital employed % | — | 4.2% | 4.6% | 5.5% | 2.4% | 1.2% | 2% |
| Return on equity % | — | 3.8% | 0.8% | 1.7% | -2.9% | -0.4% | 0.1% |
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.