Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 76.5% | — | — | 81.5% | 61.5% | 63.4% | 68.8% | 71% |
| EBITDA margin % | 51.2% | 57% | 42.6% | 41.8% | 32.1% | 29.7% | 25.3% | 39.3% |
| EBIT margin % | 22.5% | 17.7% | -24.8% | 13.2% | 18.1% | 16.8% | 12.4% | 27.5% |
| PAT margin % | 5.5% | -4.9% | -93% | -1.6% | 22.1% | 1.5% | -30.4% | 9.2% |
| Working capital | ||||||||
| Receivable days | 107 | 83 | 181 | 114 | 28 | 26 | 25 | 31 |
| Inventory days | 3,614 | 4,021 | 6,380 | 9,972 | 2,456 | 2,198 | 2,516 | 2,596 |
| Payable days | — | — | 170 | 436 | 127 | 100 | 118 | 122 |
| NWC days | — | — | 6,390 | 9,651 | 2,357 | 2,124 | 2,423 | 2,505 |
| Leverage | ||||||||
| Current ratio | 1.66 | 1.47 | 1.64 | 1.9 | 1.75 | 1.93 | 1.96 | 1.97 |
| Debt to EBITDA | 5.74 | 7.88 | 24.03 | 12.06 | 7.57 | 7.7 | 9.35 | 8.54 |
| Debt to equity | 0.7 | 0.77 | 0.95 | 0.98 | 0.82 | 0.83 | 0.9 | 1.44 |
| Interest coverage | 1.2 | 0.8 | 0.1 | 0.9 | 2.2 | 1.2 | 0.9 | 1.6 |
| Asset turnover | 0.08 | 0.05 | 0.03 | 0.06 | 0.11 | 0.12 | 0.12 | 0.14 |
| Return ratios | ||||||||
| Return on assets % | 0.5% | -0.3% | -2.6% | -0.1% | 2.4% | 0.2% | -3.7% | 1.3% |
| Return on capital employed % | 3.4% | 2.9% | 0.2% | 2.7% | 7.1% | 3.9% | 2.8% | 6% |
| Return on equity % | 1.3% | -0.8% | -8.7% | -0.3% | 7.5% | 0.6% | -11.6% | 3.9% |
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.