Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 90.6% | 96.8% | 98.5% | 55.7% | 57.2% | 53.8% | 98.7% |
| EBITDA margin % | 8.6% | 10.8% | 22.4% | 20.5% | 14.9% | 15.1% | 14.2% | 10% |
| EBIT margin % | 4.7% | 4.7% | 17.8% | 16.8% | 9% | 9.8% | 8.8% | 3.9% |
| PAT margin % | 4.4% | 7.4% | 15.8% | 13.9% | 10.1% | 10.5% | 8.7% | 6.4% |
| Working capital | ||||||||
| Receivable days | 99 | 35 | 59 | — | 43 | 26 | 37 | 34 |
| Inventory days | 126 | 1,087 | 2,576 | — | 190 | 211 | 188 | 6,761 |
| Payable days | 19 | 215 | — | — | 30 | 40 | 44 | — |
| NWC days | 206 | 906 | — | — | 202 | 197 | 180 | — |
| Leverage | ||||||||
| Current ratio | 6.94 | 3.24 | 3.85 | — | 4.56 | 6.9 | 4.58 | 4.93 |
| Debt to EBITDA | 0.35 | 0.78 | 0.3 | — | 0.86 | 0.42 | 0.67 | 0.38 |
| Debt to equity | 0.03 | 0.09 | 0.08 | — | 0.11 | 0.06 | 0.1 | 0.04 |
| Interest coverage | 3.5 | 3.4 | 12.5 | 12.9 | 6 | 6.5 | 5.5 | 4.4 |
| Asset turnover | 0.86 | 0.77 | 0.87 | — | 0.72 | 0.76 | 0.85 | 0.72 |
| Return ratios | ||||||||
| Return on assets % | 3.8% | 5.7% | 13.8% | — | 7.3% | 7.9% | 7.4% | 4.6% |
| Return on capital employed % | 7.4% | 9.6% | 23% | — | 10.1% | 12.9% | 11.6% | 9.2% |
| Return on equity % | 4.5% | 7.8% | 18.5% | — | 8.7% | 9.1% | 8.9% | 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.