Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | — | — | — | — | — | — | — |
| EBITDA margin % | 69.9% | 67% | 63.6% | 68.6% | 65.5% | 68.9% | 64.3% | 62.4% |
| EBIT margin % | 34.7% | 38.7% | 27.9% | 40.1% | 33.4% | 38.5% | 32.6% | 33% |
| PAT margin % | -15.1% | 6.2% | -22.4% | 11.5% | 12.9% | 14.2% | 16% | 24.4% |
| Working capital | ||||||||
| Receivable days | 110 | — | 148 | 189 | 159 | 110 | 112 | 101 |
| Inventory days | 9 | — | 8 | 6 | 19 | 17 | 24 | 23 |
| Payable days | — | — | 83 | 70 | 50 | 36 | 30 | 33 |
| NWC days | — | — | 73 | 125 | 128 | 90 | 105 | 91 |
| Leverage | ||||||||
| Current ratio | 0.74 | — | 0.82 | 1.47 | 1.48 | 1.62 | 2.69 | 2.07 |
| Debt to EBITDA | 6.16 | — | 8.18 | 5.7 | 6.33 | 3.96 | 3.16 | 2.75 |
| Debt to equity | 2.81 | — | 2.91 | 2.48 | 2.05 | 0.94 | 0.5 | 0.44 |
| Interest coverage | 0.8 | 1.2 | 0.6 | 1.1 | 1.1 | 1.4 | 1.5 | 2.1 |
| Asset turnover | 0.14 | 0.19 | 0.13 | 0.17 | 0.15 | 0.17 | 0.16 | 0.17 |
| Return ratios | ||||||||
| Return on assets % | -2.2% | 1.2% | -3% | 2% | 2% | 2.4% | 2.5% | 4.1% |
| Return on capital employed % | 7.8% | — | 4.7% | 7.6% | 7.3% | 7.5% | 6.9% | 7.6% |
| Return on equity % | -9.8% | — | -12.5% | 7.3% | 6.4% | 4.9% | 3.9% | 6.2% |
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.