Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 80.6% | 88% | 82% | 34.6% | 87.9% | 50.2% | 40.6% |
| EBITDA margin % | 14% | 15% | 7.9% | 3.8% | 10.1% | 10.9% | 2.7% |
| EBIT margin % | 10.6% | 11.2% | 1.1% | 1.1% | 6.9% | 7.4% | -1.3% |
| PAT margin % | 8.9% | 9.6% | 2.2% | -11.3% | 9.3% | 7.2% | 6.1% |
| Working capital | |||||||
| Receivable days | 89 | 110 | 131 | 80 | 111 | 72 | 78 |
| Inventory days | 57 | 119 | 169 | 9 | 83 | 19 | 60 |
| Payable days | — | 316 | 221 | 47 | 403 | 56 | 23 |
| NWC days | — | -88 | 80 | 41 | -209 | 35 | 115 |
| Leverage | |||||||
| Current ratio | — | 2.46 | 1.37 | 2.09 | 1.16 | 2.16 | 1.96 |
| Debt to EBITDA | 0.57 | 0.81 | 2.06 | 1.14 | 1.83 | 0.35 | 1.91 |
| Debt to equity | 0.14 | 0.15 | 0.16 | 0.08 | 0.16 | 0.04 | 0.06 |
| Interest coverage | 16.2 | 9.5 | 6.4 | 8.2 | 25.1 | 10.6 | 9.2 |
| Asset turnover | 0.91 | 0.7 | 0.49 | 1.03 | 0.44 | 0.71 | 0.74 |
| Return ratios | |||||||
| Return on assets % | 8.1% | 6.7% | 1.1% | -11.6% | 4.1% | 5.1% | 4.5% |
| Return on capital employed % | — | 12.7% | 6.7% | 7.2% | 11.1% | 12.8% | 7.5% |
| Return on equity % | 15.9% | 11.7% | 2.2% | -21.8% | 8% | 7.3% | 6.6% |
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.