Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 22.1% | 36% | 37.9% | 34.6% | 44.9% | 40.4% | 40.6% | 42.5% |
| EBITDA margin % | 6.3% | 14.2% | -43.6% | 7.3% | 11% | -4.3% | 0.9% | -8.1% |
| EBIT margin % | 5.8% | 13.3% | -46.1% | 6.1% | 9.9% | -5.7% | -0.6% | -10.4% |
| PAT margin % | 9% | 11.1% | -24.8% | 19.2% | 27.6% | 24.6% | 28.2% | 35.9% |
| Working capital | ||||||||
| Receivable days | — | — | 120 | 38 | 58 | 37 | 32 | 39 |
| Inventory days | — | — | 3,689 | 1,733 | 3,548 | 4,555 | 4,110 | 7,155 |
| Payable days | — | — | 1,461 | 689 | 987 | 758 | 0 | 730 |
| NWC days | — | — | 2,347 | 1,082 | 2,620 | 3,834 | 4,142 | 6,464 |
| Leverage | ||||||||
| Current ratio | — | — | 1.93 | 1.88 | 1.46 | 1.43 | 1.51 | 1.27 |
| Debt to EBITDA | — | — | — | 38.82 | 25.89 | — | 283.16 | — |
| Debt to equity | — | — | 0.55 | 0.6 | 0.69 | 1.07 | 0.73 | 0.82 |
| Interest coverage | 2.4 | 3.6 | 1.2 | 5.2 | 5.8 | 7.4 | 11.6 | 20.1 |
| Asset turnover | — | — | 0.05 | 0.1 | 0.1 | 0.08 | 0.09 | 0.06 |
| Return ratios | ||||||||
| Return on assets % | — | — | -1.2% | 2% | 2.7% | 2.1% | 2.5% | 2.2% |
| Return on capital employed % | — | — | 2.3% | 9.1% | 10.6% | 10.1% | 11.6% | 12.5% |
| Return on equity % | — | — | -2.3% | 4% | 6.7% | 7.5% | 8% | 9.6% |
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.