Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 34.8% | 37.7% | 36.6% | 31.9% | 27% | 25.8% | 30.9% | 21.7% |
| EBITDA margin % | 16.6% | 14.3% | 8.6% | 8.1% | -4% | -1.3% | -7.3% | -26.3% |
| EBIT margin % | 13.9% | 10.9% | 3.8% | 4.8% | -9.1% | -6.4% | -13.3% | -31.9% |
| PAT margin % | 11.8% | 28.8% | 26.4% | 26% | 11.3% | 14% | 35.8% | 663% |
| Working capital | ||||||||
| Receivable days | 67 | — | 126 | 70 | 80 | 88 | 54 | 45 |
| Inventory days | 68 | — | 102 | 88 | 103 | 105 | 110 | 94 |
| Payable days | 81 | — | 154 | 116 | 209 | 207 | 152 | 201 |
| NWC days | 54 | — | 73 | 42 | -26 | -14 | 11 | -62 |
| Leverage | ||||||||
| Current ratio | 1.54 | — | 1.34 | 1.24 | 1.13 | 0.98 | 2.82 | 8.72 |
| Debt to EBITDA | 0.65 | — | 1.8 | 0.79 | — | — | — | — |
| Debt to equity | 0.1 | — | 0.07 | 0.04 | 0.02 | 0.04 | 0.35 | 0.01 |
| Interest coverage | 38.6 | 30.4 | 9.7 | 15.3 | -13.2 | -2.3 | 0.1 | -0.5 |
| Asset turnover | 0.68 | — | 0.35 | 0.49 | 0.3 | 0.28 | 0.16 | 0.12 |
| Return ratios | ||||||||
| Return on assets % | 8% | — | 9.4% | 12.6% | 3.3% | 3.9% | 5.6% | 79.1% |
| Return on capital employed % | 11.3% | — | 1.7% | 3% | -3.1% | -1.9% | 0.4% | -1.7% |
| Return on equity % | 10.5% | — | 11.6% | 15.1% | 4% | 4.7% | 8.2% | 86.5% |
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.