Consolidated figures
| Ratio | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 29.6% | 24.5% | 35.6% | 34.3% | 32.4% | 34.5% | 37.7% | 32.5% |
| EBITDA margin % | 7.3% | -4.3% | 8.6% | 6.5% | 7.3% | 7.8% | 8.3% | 9.7% |
| EBIT margin % | 6% | -6.5% | 5.7% | 4.6% | 5.6% | 5.7% | 6% | 7.8% |
| PAT margin % | -0.7% | -15.3% | -5.3% | 4.8% | 11.8% | 3.7% | 5.2% | 30.7% |
| Working capital | ||||||||
| Receivable days | 197 | 161 | 69 | 64 | 63 | 47 | 7 | 10 |
| Inventory days | 57 | 53 | 52 | 78 | 47 | 38 | 23 | 45 |
| Payable days | 87 | 1 | 96 | 91 | 57 | 41 | 21 | 39 |
| NWC days | 167 | 214 | 25 | 52 | 53 | 45 | 9 | 16 |
| Leverage | ||||||||
| Current ratio | — | 0.66 | 0.76 | 0.67 | 0.81 | 0.78 | 0.5 | 0.52 |
| Debt to EBITDA | 8.85 | — | 9 | 11.02 | 6.36 | 5.01 | 1.95 | 2.07 |
| Debt to equity | 3.02 | 8.31 | 9.43 | 7 | 1.33 | 1.05 | 0.39 | 0.31 |
| Interest coverage | 1 | -0.5 | 1 | 1.3 | 1.7 | 2.1 | 1.9 | 2.7 |
| Asset turnover | 0.84 | 0.76 | 0.45 | 0.57 | 0.9 | 0.95 | 0.88 | 0.98 |
| Return ratios | ||||||||
| Return on assets % | -0.6% | -11.7% | -2.3% | 2.7% | 10.7% | 3.5% | 4.6% | 30.2% |
| Return on capital employed % | — | -20.5% | 8.2% | 6.6% | 11.2% | 15.2% | 9.3% | 8.5% |
| Return on equity % | -3.2% | -224.5% | -64.3% | 46.5% | 34.1% | 10.1% | 12.4% | 47% |
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.