Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.9% | 34.9% | 28.5% | 24.9% | 25.8% | 27.2% | 28% | 30.1% |
| EBITDA margin % | 26.4% | 19.1% | 14.2% | 16.4% | 20.6% | 22.5% | 23.9% | 26.1% |
| EBIT margin % | 21.3% | 12.7% | 7.3% | 12.8% | 18.9% | 21.3% | 22.4% | 24.2% |
| PAT margin % | 13.3% | 9.7% | 4.3% | 11.9% | 15.8% | 17.9% | 20.7% | 22.2% |
| Working capital | ||||||||
| Receivable days | 54 | 95 | 64 | 17 | 20 | 25 | 22 | 26 |
| Inventory days | 1,113 | 2,819 | 2,980 | 1,194 | 616 | 479 | 283 | 220 |
| Payable days | 5 | 4 | 14 | 6 | 7 | 6 | 5 | 9 |
| NWC days | 1,162 | 2,910 | 3,030 | 1,205 | 628 | 497 | 301 | 236 |
| Leverage | ||||||||
| Current ratio | 2.8 | 2.94 | 4.42 | 3.5 | 5.7 | 5.9 | 5.43 | 9.75 |
| Debt to EBITDA | 9.99 | 26.25 | 42.37 | 12.76 | 4.74 | 1.88 | 0.95 | 0.92 |
| Debt to equity | 0.53 | 0.56 | 0.6 | 0.37 | 0.33 | 0.17 | 0.11 | 0.1 |
| Interest coverage | 2.1 | 2.9 | 1.2 | 3.6 | 7.2 | 10.2 | 45.6 | 54.6 |
| Asset turnover | 0.11 | 0.06 | 0.05 | 0.11 | 0.22 | 0.3 | 0.39 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 1.4% | 0.6% | 0.2% | 1.3% | 3.5% | 5.5% | 8.1% | 8.1% |
| Return on capital employed % | 3.5% | 1.2% | 1% | 2.5% | 5.9% | 8.4% | 11% | 12% |
| Return on equity % | 2.7% | 1.1% | 0.4% | 2.1% | 5.3% | 7.3% | 10.2% | 9.6% |
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.