Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | 80.8% | 89.3% | — | — | ||
| 98.9% |
| — |
| EBITDA margin % | -29.5% | 23% | 28% | 29.3% | 31.9% | 35.6% | 47.5% |
| EBIT margin % | -64.2% | 6.4% | 19.8% | 18.8% | 21.7% | 27.1% | 41% |
| PAT margin % | -68.5% | 6.2% | 20.5% | 17.6% | 17.2% | 22.5% | 29.8% |
| Working capital | |||||||
| Receivable days | 36 | 34 | 16 | 14 | 29 | 30 | 16 |
| Inventory days | 176 | 187 | 211 | 36 | 71 | 5,185 | 87 |
| Payable days | 79 | 145 | 379 | 65 | 30 | 1,871 | 44 |
| NWC days | 133 | 76 | -151 | -15 | 71 | 3,344 | 59 |
| Leverage | |||||||
| Current ratio | — | 0.88 | 1.13 | 0.84 | 1.05 | 1.37 | 1.68 |
| Debt to EBITDA | — | 2.77 | 0.8 | 0.32 | 0.41 | 0.23 | 0.08 |
| Debt to equity | 1.63 | 1.04 | 0.21 | 0.08 | 0.1 | 0.06 | 0.03 |
| Interest coverage | -7.9 | 2.4 | 14.2 | 25.8 | 26.5 | 92.3 | 271.6 |
| Asset turnover | 0.27 | 0.63 | 0.61 | 0.56 | 0.53 | 0.59 | 0.7 |
| Return ratios | |||||||
| Return on assets % | -18.3% | 3.9% | 12.5% | 9.9% | 9% | 13.3% | 20.8% |
| Return on capital employed % | — | 7.8% | 20% | 19% | 17.6% | 22.4% | 40.5% |
| Return on equity % | -59.3% | 10.1% | 19.6% | 14.2% | 12.9% | 17.5% | 27.5% |
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.