Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 36.9% | 28.4% | 32.2% | 29.9% | 31.5% | 37.6% | 33.7% | 35.9% |
| EBITDA margin % | 9.6% | 1.2% | 1.9% | -1% | -9.5% | -1.3% | -4.4% | 2.6% |
| EBIT margin % | 4.9% | -5.1% | -5.3% | -9.2% | -17.2% | -10.3% | -13% | -4.8% |
| PAT margin % | 18.3% | -3.5% | 1.3% | -5% | -17.4% | -5.7% | -21.4% | -1.9% |
| Working capital | ||||||||
| Receivable days | 35 | — | 213 | — | 78 | 66 | 52 | 60 |
| Inventory days | 43 | — | 62 | — | 76 | 105 | 71 | 85 |
| Payable days | — | — | 85 | — | 118 | 117 | 80 | 100 |
| NWC days | — | — | 189 | — | 36 | 54 | 42 | 45 |
| Leverage | ||||||||
| Current ratio | 2.06 | — | 5.23 | — | 2.36 | 1.87 | 2.18 | 1.94 |
| Debt to EBITDA | 0.05 | — | 0.24 | — | — | — | — | 5.65 |
| Debt to equity | 0 | — | 0 | — | 0 | 0.02 | 0.03 | 0.08 |
| Interest coverage | 16.1 | 3.5 | 1.8 | 1.1 | -2.1 | -6.5 | -16.2 | -1.7 |
| Asset turnover | 0.92 | — | 0.44 | — | 0.41 | 0.36 | 0.46 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | 16.7% | — | 0.6% | — | -7.1% | -2.1% | -9.8% | -0.9% |
| Return on capital employed % | 10% | — | 1.1% | — | -1.1% | -1.6% | -5.2% | -0.8% |
| Return on equity % | 19.3% | — | 0.7% | — | -9.7% | -2.4% | -11.4% | -1.1% |
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.