Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 35.1% | 28.3% | 30.9% | 26.8% | 21.5% | 24.5% | 28.7% |
| EBITDA margin % | 20.7% | 9% | 16.7% | 12.7% | 3.7% | 10.2% | -8.3% |
| EBIT margin % | 19.2% | 7.3% | 15.7% | 11.9% | 1% | 9.4% | -10.5% |
| PAT margin % | 8.8% | -0.7% | 7.6% | 7.5% | -4.9% | 6.4% | -5.2% |
| Working capital | |||||||
| Receivable days | 20 | 24 | 12 | 7 | 15 | 13 | 31 |
| Inventory days | 1,374 | 2,106 | 1,341 | 970 | 1,177 | 1,016 | 3,673 |
| Payable days | — | — | — | 125 | 195 | 153 | 459 |
| NWC days | — | — | — | 851 | 997 | 877 | 3,245 |
| Leverage | |||||||
| Current ratio | 1.32 | 1.26 | 1.24 | 1.3 | 1.12 | 1.04 | 1.1 |
| Debt to EBITDA | 2.21 | 10.66 | 2.8 | 2.86 | 21.11 | 6.3 | — |
| Debt to equity | 0.57 | 0.74 | 0.54 | 0.52 | 1.47 | 1.34 | 0.95 |
| Interest coverage | 3.3 | 1 | 3.9 | 5.2 | 0.4 | 5 | -0.4 |
| Asset turnover | 0.3 | 0.18 | 0.28 | 0.35 | 0.28 | 0.32 | 0.1 |
| Return ratios | |||||||
| Return on assets % | 2.7% | -0.1% | 2.1% | 2.7% | -1.4% | 2.1% | -0.5% |
| Return on capital employed % | 18.2% | 4.7% | 14.4% | 14.9% | 2.8% | 21.2% | -0.9% |
| Return on equity % | 11% | -0.5% | 8.8% | 10.7% | -9.2% | 13.2% | -3.2% |
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.