Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 56.4% | 36.6% | 44.2% | 40.1% | 36.5% | 42.2% | 37.7% | 38.7% |
| EBITDA margin % | 10.5% | 7% | 10.8% | 4.6% | 2.6% | 6.4% | -4.8% | -4% |
| EBIT margin % | 8.2% | 5.3% | 8.4% | 2.3% | -0.4% | 3.6% | -7.6% | -6.9% |
| PAT margin % | 7.7% | 0.2% | 6.1% | 2.3% | -1.4% | 2.3% | 26.1% | -5.9% |
| Working capital | ||||||||
| Receivable days | 113 | 128 | 103 | 61 | 80 | 76 | 70 | 47 |
| Inventory days | — | — | — | — | 88 | 95 | 147 | 80 |
| Payable days | — | — | — | — | 69 | 72 | 81 | 49 |
| NWC days | — | — | — | — | 99 | 99 | 136 | 78 |
| Leverage | ||||||||
| Current ratio | — | — | 1.86 | 1.73 | 1.42 | 1.41 | 1.92 | 2.02 |
| Debt to EBITDA | 0.26 | 1.5 | 2.15 | 4.74 | 9 | 3.44 | — | — |
| Debt to equity | 0.05 | 0.16 | 0.51 | 0.52 | 0.57 | 0.59 | 0.12 | 0.11 |
| Interest coverage | 9.8 | 6.5 | 4.8 | 2.9 | 0.3 | 2.4 | 48.6 | -9.1 |
| Asset turnover | 0.94 | 0.66 | 1.04 | 1.11 | 1.11 | 1.07 | 0.65 | 1.05 |
| Return ratios | ||||||||
| Return on assets % | 7.2% | 0.1% | 6.3% | 2.5% | -1.6% | 2.4% | 16.9% | -6.2% |
| Return on capital employed % | — | — | 18.7% | 9.3% | 1% | 9.7% | 34.4% | -5.4% |
| Return on equity % | 14.5% | 0.2% | 13.4% | 5.3% | -3.5% | 6.2% | 27.8% | -8.8% |
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.