Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 19.9% | 55.1% | 84.1% | 86.3% | 88% | 89.4% |
| EBITDA margin % | 4.3% | 20.9% | 23.9% | 26.5% | 29.1% | 35.9% |
| EBIT margin % | -1.2% | 18.3% | 23.2% | 25.7% | 27.9% | 32.3% |
| PAT margin % | 0.1% | 14% | -8.5% | 19.1% | 21.6% | 22.4% |
| Working capital | ||||||
| Receivable days | 10 | 12 | 3 | 4 | 9 | 32 |
| Inventory days | 208 | 195 | 182 | 95 | 196 | 534 |
| Payable days | 63 | 18 | 50 | 162 | 16 | 535 |
| NWC days | 155 | 189 | 135 | -63 | 188 | 31 |
| Leverage | ||||||
| Current ratio | 1.63 | 2.61 | 1.95 | 1.14 | 1.43 | 0.81 |
| Debt to EBITDA | 9.45 | 0.39 | 0 | 0 | 0.39 | 3.32 |
| Debt to equity | 0.56 | 0.12 | 0 | 0 | 0.12 | 1.47 |
| Interest coverage | 1 | 8.7 | 13.2 | 305 | 70.7 | 11.2 |
| Asset turnover | 0.35 | 0.85 | 1.67 | 1.66 | 0.71 | 0.41 |
| Return ratios | ||||||
| Return on assets % | 0% | 11.8% | -14.2% | 31.6% | 15.4% | 9.2% |
| Return on capital employed % | 3% | 24.8% | 76.3% | 76.9% | 37.5% | 31.1% |
| Return on equity % | 0.1% | 20.2% | -18.9% | 44.2% | 22.6% | 27.6% |
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.