Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 57.1% | 47.2% | 58.2% | 41% | 46.7% | 47.6% |
| EBITDA margin % | 20.1% | 18.2% | 36.3% | 11.4% | 8.9% | 7.8% |
| EBIT margin % | 13.8% | 13.1% | 33.4% | 7.2% | 5% | 3.1% |
| PAT margin % | 14.2% | 20.8% | 28.3% | 9.1% | 8.6% | 6.7% |
| Working capital | ||||||
| Receivable days | — | — | — | 46 | 33 | 39 |
| Inventory days | 25 | 13 | — | 4 | 3 | 13 |
| Payable days | — | — | — | 71 | 78 | 92 |
| NWC days | — | — | — | -21 | -42 | -40 |
| Leverage | ||||||
| Current ratio | 1.43 | 1.28 | — | 1.88 | 2.35 | 3.07 |
| Debt to EBITDA | — | — | — | 9.49 | 6.29 | 3.59 |
| Debt to equity | — | — | — | 0.75 | 0.42 | 0.16 |
| Interest coverage | 5.7 | 7.6 | 18.7 | 4.9 | 5.1 | 3.2 |
| Asset turnover | 0.43 | 0.38 | — | 0.31 | 0.37 | 0.35 |
| Return ratios | ||||||
| Return on assets % | 6.1% | 7.8% | — | 2.8% | 3.2% | 2.4% |
| Return on capital employed % | 14.4% | 16.5% | — | 7.4% | 7.8% | 6.3% |
| Return on equity % | — | — | — | 6.3% | 6.5% | 3.8% |
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.