Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 53.4% | 48.1% | 32.2% | 34.1% | 38% | 36.9% |
| EBITDA margin % | 28.8% | 21.7% | -13.5% | -11.1% | -6.9% | 0.1% |
| EBIT margin % | 28.6% | 21.1% | -15.6% | -13.7% | -9% | -1.3% |
| PAT margin % | 21.7% | 17.6% | -7.4% | -2% | 0.8% | 1.4% |
| Working capital | ||||||
| Receivable days | 0 | 4 | 14 | 6 | 11 | 19 |
| Inventory days | 135 | 174 | 167 | 186 | 214 | 187 |
| Payable days | 32 | 13 | 24 | 31 | 35 | 20 |
| NWC days | 103 | 165 | 157 | 161 | 190 | 186 |
| Leverage | ||||||
| Current ratio | 9.6 | 16.85 | 21.01 | 20.78 | 15.32 | 8.32 |
| Debt to EBITDA | 0.06 | 0.02 | — | — | — | 4 |
| Debt to equity | 0.02 | 0.01 | 0.02 | 0 | 0.01 | 0 |
| Interest coverage | 40 | 83.4 | -22.9 | -4.2 | 2.1 | 4.9 |
| Asset turnover | 1.15 | 1.17 | 0.54 | 0.45 | 0.52 | 0.75 |
| Return ratios | ||||||
| Return on assets % | 25% | 20.5% | -4% | -0.9% | 0.4% | 1.1% |
| Return on capital employed % | 38.3% | 33% | -5.1% | -1% | 1.3% | 3.3% |
| Return on equity % | 28.4% | 22.1% | -4.2% | -0.9% | 0.4% | 1.2% |
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.