Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 89.6% | 87% | 90% | 90.1% | 89.9% | 90% | 90.1% |
| EBITDA margin % | — | 13.2% | -27.6% | 10.7% | 28.5% | 24.9% | 25% | 26.8% |
| EBIT margin % | — | 3.7% | -52.4% | -1.3% | 22.7% | 18.8% | 17.5% | 19.8% |
| PAT margin % | 25.1% | -2.8% | -61.5% | -9.2% | 13.8% | 12.6% | 8.9% | 13.8% |
| Working capital | ||||||||
| Receivable days | 14 | 15 | 28 | 24 | 17 | 13 | 19 | 21 |
| Inventory days | — | 103 | 197 | 125 | 86 | 90 | 95 | 84 |
| Payable days | — | 441 | 756 | 460 | 315 | 274 | 293 | 269 |
| NWC days | — | -323 | -532 | -311 | -212 | -171 | -179 | -164 |
| Leverage | ||||||||
| Current ratio | 0.45 | 1.2 | 0.98 | 1.19 | 0.98 | 0.5 | 0.42 | 0.58 |
| Debt to EBITDA | — | 5.34 | — | 11.38 | 1.62 | 1.72 | 1.36 | 0.73 |
| Debt to equity | 0.38 | 0.39 | 0.53 | 0.61 | 0.34 | 0.27 | 0.22 | 0.13 |
| Interest coverage | -0.8 | 0.8 | -2.4 | 0.2 | 5 | 5 | 4.7 | 7.8 |
| Asset turnover | 0.41 | 0.35 | 0.15 | 0.28 | 0.48 | 0.44 | 0.46 | 0.5 |
| Return ratios | ||||||||
| Return on assets % | 10.2% | -1% | -9.2% | -2.6% | 6.6% | 5.6% | 4.1% | 6.9% |
| Return on capital employed % | -3.8% | 2.9% | -7.5% | 0.6% | 14.1% | 11.4% | 10.4% | 13.1% |
| Return on equity % | 16.3% | -1.6% | -15.8% | -4.6% | 10.1% | 8% | 5.8% | 8.9% |
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.