Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 58.4% | 51.4% | 72.7% | 71.8% | 73% | 78.8% | 80% | 73.4% |
| EBITDA margin % | -2.1% | -17.2% | 10% | 7.8% | 9.4% | 9.3% | 13.5% | 10.6% |
| EBIT margin % | -7.4% | -25.6% | 6.1% | 3.2% | 5.5% | 6.3% | 10.7% | 8.1% |
| PAT margin % | -52.6% | 114.6% | 7.6% | 6.8% | 6% | 10.6% | 10.6% | 8% |
| Working capital | ||||||||
| Receivable days | — | — | 92 | 89 | 98 | 37 | 73 | 70 |
| Inventory days | — | — | 337 | 419 | 393 | 338 | 436 | 153 |
| Payable days | — | — | 427 | 358 | 337 | 361 | 410 | 245 |
| NWC days | — | — | 2 | 149 | 154 | 14 | 98 | -22 |
| Leverage | ||||||||
| Current ratio | — | — | 1.16 | 1.14 | 1.28 | 1.19 | 1.23 | 1.36 |
| Debt to EBITDA | — | — | 5.76 | 6.4 | 4.38 | 4 | 3.14 | 2.6 |
| Debt to equity | — | — | 1.53 | 1.22 | 1.14 | 1.06 | 0.94 | 0.88 |
| Interest coverage | -1.2 | -2.3 | 2.5 | 2.5 | 2.9 | 3.3 | 4.1 | 4.6 |
| Asset turnover | — | — | 0.51 | 0.53 | 0.6 | 0.8 | 0.7 | 1.11 |
| Return ratios | ||||||||
| Return on assets % | — | — | 3.9% | 3.6% | 3.6% | 8.5% | 7.4% | 8.9% |
| Return on capital employed % | — | — | 10.4% | 10.7% | 12.8% | 13.5% | 18.4% | 21.6% |
| Return on equity % | — | — | 20.1% | 16.6% | 16.5% | 30.3% | 23.3% | 25.3% |
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.