Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 40.6% | 39.6% | 59.1% | 64.6% | 62.8% | 52.6% | — | 97.9% |
| EBITDA margin % | 21.5% | 21.2% | 29.5% | 22.4% | 18.6% | 21.2% | 14.5% | 18.5% |
| EBIT margin % | 20.7% | 20.1% | 27.4% | 20.5% | 17.2% | 19.9% | 12.7% | 17.4% |
| PAT margin % | 5.6% | 4.2% | -0.5% | 15.5% | 5.4% | 1.9% | -9.1% | 1.5% |
| Working capital | ||||||||
| Receivable days | 45 | — | 116 | 93 | 157 | 83 | 84 | 77 |
| Inventory days | 2,029 | — | 5,954 | 7,370 | 6,049 | 2,984 | 2,262 | 53,879 |
| Payable days | 140 | — | 517 | 470 | 390 | 199 | 144 | 4,637 |
| NWC days | 1,934 | — | 5,554 | 6,993 | 5,816 | 2,867 | 2,201 | 49,319 |
| Leverage | ||||||||
| Current ratio | 1.18 | — | 1.25 | 1.3 | 1.2 | 1.13 | 1.05 | 0.99 |
| Debt to EBITDA | 2.56 | — | 5.01 | 6.55 | 12.73 | 7.1 | 14.77 | 8.06 |
| Debt to equity | 0.61 | — | 0.75 | 0.68 | 1.47 | 1.74 | 2.48 | 3.12 |
| Interest coverage | 1.5 | 1.4 | 1 | 1.9 | 1.1 | 1.2 | 0.6 | 1.1 |
| Asset turnover | 0.23 | — | 0.11 | 0.11 | 0.12 | 0.19 | 0.14 | 0.22 |
| Return ratios | ||||||||
| Return on assets % | 1.3% | — | -0.1% | 1.7% | 0.7% | 0.4% | -1.3% | 0.3% |
| Return on capital employed % | 20.5% | — | 14.3% | 24.1% | 0.3% | 40.2% | 15.2% | 37.5% |
| Return on equity % | 6.2% | — | -0.2% | 7.2% | 3.4% | 2.2% | -10.5% | 3.2% |
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.