Consolidated figures
| Ratio | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 90.8% | 89.8% | 89.7% | 91.8% | 91.3% | 91.5% | 91.1% |
| EBITDA margin % | 29.7% | 28.6% | 13.4% | 25.4% | 36.9% | 29.8% | 28.9% | 25.1% |
| EBIT margin % | 17.1% | 20.4% | -13.2% | 13.6% | 31.6% | 24% | 23.4% | 17.8% |
| PAT margin % | 24% | 11.2% | -55% | -15.7% | 106.1% | 14.7% | 12.9% | 10% |
| Working capital | ||||||||
| Receivable days | 17 | — | 31 | 25 | 11 | 10 | 9 | 14 |
| Inventory days | 15 | — | 102 | 53 | 55 | 59 | 55 | 51 |
| Payable days | 73 | — | 1,261 | 532 | 343 | 433 | 183 | 157 |
| NWC days | -41 | — | -1,128 | -454 | -277 | -364 | -119 | -91 |
| Leverage | ||||||||
| Current ratio | 0.23 | — | 0.06 | 0.07 | 0.2 | 0.59 | 0.87 | 1.06 |
| Debt to EBITDA | 6.1 | — | 50.91 | 12.02 | 3.19 | 2.2 | 1.22 | 1.14 |
| Debt to equity | 5.5 | — | -2.84 | -2.43 | 2.25 | 0.97 | 0.46 | 0.35 |
| Interest coverage | 1.5 | 1.3 | -0.2 | 0.4 | 4.4 | 1.4 | 3.1 | 2.9 |
| Asset turnover | 0.22 | — | 0.14 | 0.31 | 0.48 | 0.49 | 0.62 | 0.57 |
| Return ratios | ||||||||
| Return on assets % | 5.2% | — | -7.8% | -4.9% | 51.4% | 7.3% | 7.9% | 5.7% |
| Return on capital employed % | 9.7% | — | 13.5% | -19.2% | 25.6% | 19.6% | 18.7% | 15% |
| Return on equity % | 72.9% | — | 22.9% | 12.5% | 203.1% | 21.8% | 16.7% | 12.2% |
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.