Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 50.5% | 37.7% | 38.3% | 32.6% | 37.6% | 32.1% | 37.9% |
| EBITDA margin % | 1.1% | 6.7% | 1.7% | 2.9% | 6.2% | 5.1% | 6.8% |
| EBIT margin % | -2.2% | 3.2% | -1.5% | 0% | 2.9% | 2.1% | 3.9% |
| PAT margin % | -51.3% | -12.1% | -4.8% | 32% | 85.1% | -9.7% | 10.1% |
| Working capital | |||||||
| Receivable days | 51 | 40 | 37 | 31 | 24 | 24 | 23 |
| Inventory days | 1,215 | 864 | 1,032 | 629 | 502 | 405 | 434 |
| Payable days | 465 | 260 | 283 | 142 | 163 | 99 | 102 |
| NWC days | 800 | 644 | 786 | 518 | 364 | 330 | 356 |
| Leverage | |||||||
| Current ratio | 1.24 | 1.32 | 1.35 | 1.52 | 0.75 | 0.87 | 0.66 |
| Debt to EBITDA | 227.33 | 39.72 | 200.36 | 94.16 | 45.65 | 51.06 | 36.76 |
| Debt to equity | 1.62 | 1.15 | 0.82 | 1.09 | 0.6 | 0.5 | 0.72 |
| Interest coverage | 0.7 | 0.9 | 0.8 | 0.7 | 0.9 | 0.5 | 0.6 |
| Asset turnover | 0.19 | 0.17 | 0.12 | 0.16 | 0.11 | 0.11 | 0.15 |
| Return ratios | |||||||
| Return on assets % | -9.9% | -2% | -0.6% | 5.3% | 9.5% | -1.1% | 1.5% |
| Return on capital employed % | 4% | 5.6% | 5.1% | 4% | 5.3% | 2.1% | 2.5% |
| Return on equity % | -33.3% | -5.2% | -1.2% | 12.7% | 18.2% | -1.9% | 2.9% |
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.