Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 90.9% | 91.5% | 92.9% | 93.1% | 94.3% | 94.1% | 94.1% | 94.1% |
| EBITDA margin % | 30.7% | 35.6% | 24.3% | 29.5% | 51.2% | 48.9% | 49.3% | 47.9% |
| EBIT margin % | 20.9% | 22.6% | -18.4% | 3.6% | 40.1% | 38.4% | 38.5% | 38.2% |
| PAT margin % | 10.3% | -2% | -74.1% | -34.2% | 16.1% | 17% | 18.9% | 20% |
| Working capital | ||||||||
| Receivable days | 56 | 27 | 45 | 26 | 23 | 24 | 22 | 29 |
| Inventory days | 44 | 53 | 148 | 106 | 77 | 80 | 66 | 59 |
| Payable days | 702 | 15 | 1,584 | 767 | 489 | 499 | 295 | 289 |
| NWC days | -602 | 65 | -1,391 | -634 | -388 | -394 | -206 | -200 |
| Leverage | ||||||||
| Current ratio | 0.67 | 0.49 | 0.78 | 0.52 | 0.37 | 0.57 | 0.85 | 1.21 |
| Debt to EBITDA | 6.73 | 6.34 | 27.51 | 14.31 | 4.86 | 3.62 | 3.39 | 2.9 |
| Debt to equity | 1.3 | 1.53 | 1.84 | 2.04 | 2.55 | 1.96 | 1.85 | 1.44 |
| Interest coverage | 1.6 | 1 | -0.2 | 0.2 | 2 | 2.1 | 2.5 | 3.4 |
| Asset turnover | 0.2 | 0.18 | 0.07 | 0.11 | 0.23 | 0.27 | 0.32 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | 2% | -0.3% | -4.9% | -3.8% | 3.8% | 4.5% | 6% | 6.7% |
| Return on capital employed % | 5.3% | 5.3% | -0.9% | 0.8% | 10.5% | 11.8% | 13.4% | 14.6% |
| Return on equity % | 6.4% | -1.3% | -20.3% | -16.5% | 16.5% | 18.8% | 20.9% | 20.7% |
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.