Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 97.6% | 95% | 88.2% | 91.3% | 84.3% | 76.4% |
| EBITDA margin % | 12.3% | 11% | 9.5% | 3% | 16.4% | 19.1% |
| EBIT margin % | 9.7% | 8.7% | 5.7% | -2.6% | 13% | 16.5% |
| PAT margin % | 6.3% | 7.3% | 3.2% | -3.5% | 8.7% | 11.5% |
| Working capital | ||||||
| Receivable days | — | 108 | 90 | 94 | 163 | 80 |
| Inventory days | — | 353 | 45 | 73 | 152 | 204 |
| Payable days | — | 575 | 125 | 0 | 139 | 82 |
| NWC days | — | -114 | 11 | 166 | 176 | 202 |
| Leverage | ||||||
| Current ratio | — | 1.39 | 1.24 | 2.34 | 1.78 | 2.53 |
| Debt to EBITDA | — | 2.15 | 2.9 | 11.56 | 1.62 | 1.11 |
| Debt to equity | — | 0.69 | 0.85 | 0.49 | 0.46 | 0.37 |
| Interest coverage | 5.9 | 4.2 | 2.6 | -0 | 3.9 | 10.8 |
| Asset turnover | — | 1.31 | 1.31 | 0.85 | 1.01 | 1.05 |
| Return ratios | ||||||
| Return on assets % | — | 9.5% | 4.2% | -3% | 8.7% | 12.1% |
| Return on capital employed % | — | 29.5% | 21% | -0.3% | 25.4% | 33.3% |
| Return on equity % | — | 21.1% | 10% | -5% | 15.2% | 19.8% |
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.