Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 68.6% | 37.4% | 22.7% | 47.4% | 52.9% | 27.5% |
| EBITDA margin % | 37% | 9.1% | -9.1% | 17.8% | 32% | 14.9% |
| EBIT margin % | 33.9% | 5.2% | -20% | 7.4% | 25.2% | 11% |
| PAT margin % | 28.9% | 2.6% | -26.3% | 2% | 21.6% | 9.3% |
| Working capital | ||||||
| Receivable days | 58 | 11 | 25 | 23 | 27 | 30 |
| Inventory days | 53 | 34 | 26 | 28 | 33 | 25 |
| Payable days | 120 | 42 | — | — | — | — |
| NWC days | -10 | 4 | — | — | — | — |
| Leverage | ||||||
| Current ratio | 3.11 | 0.73 | 0.84 | 0.99 | 1.89 | 2.48 |
| Debt to EBITDA | 0.37 | 10.62 | — | 1.54 | — | — |
| Debt to equity | 0.12 | 1.19 | 0.51 | 0.34 | — | — |
| Interest coverage | 15.8 | 2.7 | -2.7 | 1.7 | 17.1 | 44 |
| Asset turnover | 0.63 | 0.43 | 0.52 | 0.81 | 1.11 | 1.55 |
| Return ratios | ||||||
| Return on assets % | 18.2% | 1.1% | -13.6% | 1.6% | 24.1% | 14.5% |
| Return on capital employed % | 29.2% | 4.4% | -13.4% | 7.1% | 36.5% | 25.3% |
| Return on equity % | 25.7% | 3.1% | -23.5% | 2.4% | 29.5% | 18.6% |
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.