Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 33.1% | 57.6% | 49% | 42.5% | 50.1% | 60.5% | 54% | 54.5% |
| EBITDA margin % | -41.9% | -35.4% | 15.9% | -21.8% | 21.6% | 31.2% | 36.3% | 32.2% |
| EBIT margin % | -52.7% | -51.6% | 7.1% | -35.7% | 15.5% | 25.9% | 33.3% | 28.3% |
| PAT margin % | -49.2% | -46.4% | 13% | -27.5% | 11.3% | 19.7% | 25.9% | 23.6% |
| Working capital | ||||||||
| Receivable days | 81 | 56 | 49 | 40 | 88 | 79 | 44 | 62 |
| Inventory days | 94 | 130 | 51 | 127 | 101 | 138 | 66 | 101 |
| Payable days | — | — | — | — | 68 | 31 | 29 | 22 |
| NWC days | — | — | — | — | 121 | 187 | 81 | 141 |
| Leverage | ||||||||
| Current ratio | 5.5 | 3.55 | 5.15 | 4.7 | 4.58 | 5.98 | 8.87 | 11.57 |
| Debt to EBITDA | — | — | 0.48 | — | 0.1 | 0.01 | 0 | 0 |
| Debt to equity | 0 | 0.05 | 0.05 | 0.05 | 0.02 | 0 | 0 | 0 |
| Interest coverage | -27.9 | -16.2 | 8.4 | -15.7 | 16.7 | 93.4 | 410.5 | 171.9 |
| Asset turnover | 0.4 | 0.24 | 0.53 | 0.38 | 0.9 | 1.02 | 1.17 | 0.78 |
| Return ratios | ||||||||
| Return on assets % | -19.5% | -11.1% | 6.9% | -10.5% | 10.1% | 20.2% | 30.2% | 18.5% |
| Return on capital employed % | -18.2% | -11.7% | 7.3% | -12.1% | 20.7% | 34.8% | 53.5% | 30.4% |
| Return on equity % | -21.7% | -13.4% | 8.1% | -12.4% | 12.5% | 23.1% | 33.5% | 20.2% |
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.