Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36% | 52.9% | 42.2% | 36.7% | 39.8% | 51.3% | 45.6% | 44.5% |
| EBITDA margin % | -0.3% | 6.8% | 11.8% | 9.5% | 13.7% | 15.9% | 14.1% | 18.9% |
| EBIT margin % | -2.8% | 5% | 10.7% | 8.5% | 12.6% | 14.4% | 13% | 18.1% |
| PAT margin % | -6.7% | 6.5% | 9.8% | 7.9% | 13.4% | 46.6% | 60.4% | 32.1% |
| Working capital | ||||||||
| Receivable days | — | — | — | 45 | 29 | 56 | 47 | 45 |
| Inventory days | 74 | 220 | — | 88 | 71 | 161 | 85 | 84 |
| Payable days | — | — | — | 111 | 69 | 113 | 103 | 87 |
| NWC days | — | — | — | 22 | 31 | 105 | 30 | 42 |
| Leverage | ||||||||
| Current ratio | — | — | — | 1.89 | 2.07 | 2.21 | 3.95 | 4.92 |
| Debt to EBITDA | — | 9.39 | — | 0.99 | 2.2 | 5.85 | 4.02 | 1.82 |
| Debt to equity | 0.69 | 0.51 | — | 0.09 | 0.3 | 0.46 | 0.24 | 0.17 |
| Interest coverage | 0.6 | 1.3 | 5.6 | 7.3 | 10.5 | 9.6 | 14.8 | 11.6 |
| Asset turnover | 0.32 | 0.48 | — | 0.67 | 0.69 | 0.3 | 0.3 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | -2.2% | 3.1% | — | 5.3% | 9.2% | 14.2% | 18.1% | 12% |
| Return on capital employed % | 2.5% | 5.8% | — | 14% | 18.9% | 34.5% | 37.1% | 22.7% |
| Return on equity % | -3.9% | 5.2% | — | 7.5% | 13.4% | 22.9% | 25.3% | 16.1% |
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.