Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | — | — | 97.6% | — | 95.7% | — | — |
| EBITDA margin % | 61.2% | 47.5% | 50.7% | 54.5% | 40% | 38.5% | 37% |
| EBIT margin % | 46.6% | 27% | 33.8% | 41.3% | 29.3% | 20.1% | 8.3% |
| PAT margin % | 68.1% | 46.9% | 12.8% | 34.7% | 30.2% | 35% | 23.9% |
| Working capital | |||||||
| Receivable days | 66 | 100 | 38 | 76 | 153 | 105 | 42 |
| Inventory days | 124 | 221 | 737 | 116 | 482 | 296 | 866 |
| Payable days | 306 | 195 | 3,652 | 167 | 1,788 | 202 | 82 |
| NWC days | -117 | 125 | -2,877 | 25 | -1,153 | 199 | 826 |
| Leverage | |||||||
| Current ratio | 1.25 | 1.27 | 0.42 | 0.86 | 1.31 | 1.81 | 1.1 |
| Debt to EBITDA | 0.26 | 4.69 | 4.53 | 1.2 | 0.58 | 0.74 | 0.51 |
| Debt to equity | 0.05 | 0.35 | 0.47 | 0.38 | 0.15 | 0.09 | 0.04 |
| Interest coverage | 21.6 | 7.3 | 7 | 7.9 | 10.6 | 15.2 | 6.8 |
| Asset turnover | 0.2 | 0.1 | 0.1 | 0.3 | 0.38 | 0.21 | 0.12 |
| Return ratios | |||||||
| Return on assets % | 13.3% | 4.5% | 1.3% | 10.5% | 11.6% | 7.5% | 2.9% |
| Return on capital employed % | 14.1% | 4.6% | 5.8% | 19.2% | 16.9% | 10.2% | 2.3% |
| Return on equity % | 20.2% | 7.3% | 2.7% | 20.5% | 19.3% | 11.1% | 4.5% |
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.