Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.7% | 81.1% | 80% | 74.9% | 77.6% | 87.1% | 87.2% | 94.5% |
| EBITDA margin % | 74.1% | 56.9% | 74.1% | 69% | 63.3% | 79.1% | 79.3% | 83.3% |
| EBIT margin % | 22.5% | 41.4% | 58.5% | 52.4% | 46.6% | 58.5% | 57% | 57.2% |
| PAT margin % | -23.1% | -2.7% | 5.8% | 9.5% | 12.5% | 13.7% | 17.9% | 15.4% |
| Working capital | ||||||||
| Receivable days | 134 | 106 | 175 | 131 | 103 | 53 | 50 | 60 |
| Inventory days | 381 | 79 | 17 | 5 | 11 | 89 | 26 | 70 |
| Payable days | 2 | 133 | 6 | 1 | 82 | 109 | 100 | 210 |
| NWC days | 514 | 52 | 186 | 135 | 33 | 34 | -24 | -80 |
| Leverage | ||||||||
| Current ratio | 0.77 | 0.85 | 0.61 | 0.48 | 0.91 | 0.51 | 0.52 | 0.57 |
| Debt to EBITDA | 7.01 | 0.77 | 1.78 | 2.68 | 11 | 8.64 | 8.78 | 9.42 |
| Debt to equity | 12.73 | 1.46 | 4.79 | 7.96 | 7.42 | 6.41 | 6.43 | 5.08 |
| Interest coverage | 0.5 | 1.1 | 1.1 | 1.2 | 1.5 | 1.3 | 1.4 | 1.3 |
| Asset turnover | 0.14 | 0.14 | 0.11 | 0.09 | 0.12 | 0.1 | 0.1 | 0.09 |
| Return ratios | ||||||||
| Return on assets % | -3.2% | -0.4% | 0.6% | 0.8% | 1.4% | 1.4% | 1.8% | 1.4% |
| Return on capital employed % | 4.5% | 8.3% | 11.6% | 8.8% | 8.4% | 10.9% | 9.7% | 7.6% |
| Return on equity % | -56.6% | -8.9% | 21.1% | 41.1% | 13.3% | 12.8% | 16.5% | 10% |
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.