Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 93.7% | 82.5% | 94.5% | 94.3% | 96.2% | 95.8% | 98.3% | 96.9% |
| EBITDA margin % | 34.1% | 41.6% | 14.1% | 55% | 17.8% | 64.7% | 85.3% | 83.3% |
| EBIT margin % | 29% | 37.4% | 5.5% | 47.4% | 12.9% | 60.8% | 80.3% | 79.7% |
| PAT margin % | 24.8% | 22.1% | 0.3% | 42.3% | 14.3% | 56.2% | 67.3% | 55.8% |
| Working capital | ||||||||
| Receivable days | 184 | 173 | 313 | — | 61 | 36 | 0 | — |
| Inventory days | 224 | 100 | 477 | — | 244 | 96 | 8,270 | 408 |
| Payable days | — | — | — | — | 2 | 8 | 0 | — |
| NWC days | — | — | — | — | 303 | 125 | 8,270 | — |
| Leverage | ||||||||
| Current ratio | 3.06 | 4.21 | 4.12 | — | 7.37 | 3.44 | 2.41 | — |
| Debt to EBITDA | 2.77 | 1.54 | 10.36 | — | 1.38 | 0.53 | 0.87 | 1.21 |
| Debt to equity | 0.21 | 0.15 | 0.16 | — | 0.04 | 0.07 | 0.08 | 0.13 |
| Interest coverage | 5.6 | 6.1 | 2.2 | 9.5 | 9.3 | 45.6 | 13.2 | 8.7 |
| Asset turnover | 0.17 | 0.19 | 0.09 | 0.45 | 0.15 | 0.16 | 0.09 | 0.12 |
| Return ratios | ||||||||
| Return on assets % | 4.3% | 4.2% | 0% | 18.9% | 2.2% | 8.9% | 6.1% | 6.4% |
| Return on capital employed % | 8.3% | 8.7% | 2.2% | — | 3.2% | 13.3% | 9.7% | — |
| Return on equity % | 5.5% | 5.1% | 0% | — | 2.5% | 10.7% | 7% | 7.4% |
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.