Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 94.4% | 91% | — | 84.8% | — | 84.5% |
| EBITDA margin % | 0.7% | 2.8% | 25.3% | 32.8% | 34.4% | 30.9% |
| EBIT margin % | 0% | 1.7% | 20.3% | 25.7% | 27.3% | 23.7% |
| PAT margin % | 0.8% | 11.7% | 17.3% | 18.4% | 17.2% | 16.4% |
| Working capital | ||||||
| Receivable days | 78 | 60 | 58 | 153 | 170 | 184 |
| Inventory days | 20 | 26 | 22 | 51 | 8 | 64 |
| Payable days | 191 | 147 | 47 | 164 | 22 | 245 |
| NWC days | -93 | -62 | 33 | 40 | 157 | 3 |
| Leverage | ||||||
| Current ratio | 2.94 | 2.43 | 1.16 | 1.82 | 1.66 | 2 |
| Debt to EBITDA | 48.27 | 11.92 | 1.73 | 1.39 | 1.2 | 1.29 |
| Debt to equity | 1.35 | 1.1 | 0.63 | 0.63 | 0.48 | 0.41 |
| Interest coverage | 2.2 | 20.4 | 8.7 | 7.6 | 6.8 | 6.7 |
| Asset turnover | 1.37 | 1.29 | 0.59 | 0.7 | 0.67 | 0.61 |
| Return ratios | ||||||
| Return on assets % | 1.1% | 15.1% | 10.2% | 12.8% | 11.6% | 9.9% |
| Return on capital employed % | 1.7% | 25% | 33.5% | 29.1% | 26.1% | 22.7% |
| Return on equity % | 3.3% | 38.2% | 25% | 25.3% | 19.9% | 16.7% |
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.