Consolidated figures
| Ratio | Mar 2016 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 98.3% | 41.8% | 41.6% | 97.2% | 39% | 40.7% | 42.2% | 39.4% |
| EBITDA margin % | 18.3% | 14.4% | 12.5% | 14.5% | 13.4% | 12.1% | 6.7% | 5.8% |
| EBIT margin % | 9.2% | 7.7% | 6.5% | 10.3% | 10.8% | 9.8% | 3% | 3.7% |
| PAT margin % | 2.7% | 5.8% | 5.4% | 12.6% | 1.1% | 6.7% | 4% | 3.7% |
| Working capital | ||||||||
| Receivable days | 480 | 224 | 167 | 150 | 88 | 80 | 85 | 121 |
| Inventory days | 3,520 | 67 | 61 | 1,040 | 39 | 43 | 38 | 30 |
| Payable days | 805 | — | 111 | 1,391 | 34 | 45 | 50 | 96 |
| NWC days | 3,196 | — | 118 | -201 | 93 | 77 | 73 | 55 |
| Leverage | ||||||||
| Current ratio | 3.02 | 2.66 | 2.75 | 3.74 | 3.53 | 3.6 | 3.02 | 2.52 |
| Debt to EBITDA | 2.71 | 1.08 | 1.21 | 0.61 | 0.4 | 0.72 | 1.33 | 2.08 |
| Debt to equity | 0.18 | 0.11 | 0.12 | 0.08 | 0.07 | 0.1 | 0.12 | 0.19 |
| Interest coverage | 1.5 | 4.4 | 7.4 | 20 | 19.1 | 13.1 | 8.3 | 4.8 |
| Asset turnover | 0.28 | 0.53 | 0.56 | 0.7 | 0.95 | 0.88 | 0.87 | 0.91 |
| Return ratios | ||||||||
| Return on assets % | 0.8% | 3.1% | 3% | 8.8% | 1% | 5.9% | 3.5% | 3.4% |
| Return on capital employed % | 3.9% | 5.2% | 5.4% | 9.5% | 13.1% | 11% | 10.1% | 7.8% |
| Return on equity % | 1% | 4.2% | 4.1% | 11.5% | 1.3% | 7.9% | 5.3% | 5.8% |
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.