Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 86.1% | 88.2% | 87.6% | 84.8% | 87.7% | 89.7% | 90.7% | 80.6% |
| EBITDA margin % | 32.3% | 34.3% | 2.4% | 19.4% | 40.1% | 41.3% | 42.8% | 42.9% |
| EBIT margin % | 20.6% | 22.8% | -37.5% | -3.9% | 29.7% | 31.5% | 32.4% | 34.6% |
| PAT margin % | -0.8% | 10.2% | -47.3% | -16% | 16.2% | 19.6% | 8.3% | 23.3% |
| Working capital | ||||||||
| Receivable days | 18 | — | 38 | 31 | 19 | 14 | 17 | 9 |
| Inventory days | 1,054 | — | 3,898 | 1,866 | 1,083 | 1,361 | 1,449 | 183 |
| Payable days | 7 | — | 826 | 411 | 394 | 520 | 393 | 112 |
| NWC days | 1,065 | — | 3,111 | 1,487 | 708 | 855 | 1,073 | 80 |
| Leverage | ||||||||
| Current ratio | 0.83 | — | 0.73 | 0.75 | 0.65 | 0.46 | 0.53 | 0.7 |
| Debt to EBITDA | 4.42 | — | 291.96 | 25.73 | 6.17 | 5.05 | 3.47 | 1.96 |
| Debt to equity | 0.99 | — | 1.45 | 1.89 | 1.81 | 1.59 | 0.84 | 0.63 |
| Interest coverage | 0.9 | 1.7 | -0.6 | 0 | 2.5 | 2.4 | 3.7 | 5.5 |
| Asset turnover | 0.28 | — | 0.07 | 0.11 | 0.23 | 0.25 | 0.24 | 0.38 |
| Return ratios | ||||||||
| Return on assets % | -0.2% | — | -3.5% | -1.8% | 3.7% | 4.8% | 2% | 8.8% |
| Return on capital employed % | 8.9% | — | -2.7% | 0.1% | 10.4% | 12.1% | 13.6% | 18.4% |
| Return on equity % | -0.5% | — | -9.8% | -6.1% | 11.9% | 15% | 4.7% | 17.4% |
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.