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Consolidated figures
| Ratio | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 94.6% | — | 90% | 97.5% | 87.6% | 94.3% | 95.8% | 96.6% |
| EBITDA margin % | — | — | 2% | 10.5% | 11% | 12.5% | 12.3% | 11% |
| EBIT margin % | — | — | 1% | 9.2% | 7.8% | 9.5% | -5.5% | 2.8% |
| PAT margin % | 6% | 4.7% | 2.3% | 7.8% | 7.2% | 7.8% | 8.6% | 4.3% |
| Working capital | ||||||||
| Receivable days | 153 | 144 | 120 | 154 | 295 | 209 | 678 | 386 |
| Inventory days | 365 | — | 21 | 87 | 23 | 327 | 2,041 | 1,162 |
| Payable days | 1,314 | — | 1,057 | 7,161 | 2,081 | 4,071 | 15,249 | 7,991 |
| NWC days | -796 | — | -916 | -6,920 | -1,762 | -3,535 | -12,530 | -6,443 |
| Leverage | ||||||||
| Current ratio | — | — | 1.31 | 1.22 | 1.25 | 1.6 | 1.76 | 1.95 |
| Debt to EBITDA | — | — | 1.1 | 0.29 | 0.43 | 1.06 | 3.28 | 0.94 |
| Debt to equity | 0.18 | 0.22 | 0.09 | 0.12 | 0.12 | 0.18 | 0.13 | 0.06 |
| Interest coverage | -1.1 | -0 | 14.6 | 24.1 | 26.8 | 41.1 | 2.6 | 5.8 |
| Asset turnover | 1.12 | 1.21 | 1.21 | 1.08 | 0.74 | 0.58 | 0.17 | 0.34 |
| Return ratios | ||||||||
| Return on assets % | 6.7% | 5.7% | 2.8% | 8.4% | 5.3% | 4.5% | 1.5% | 1.5% |
| Return on capital employed % | — | — | 14.4% | 47% | 30.5% | 20.4% | 4.3% | 4.7% |
| Return on equity % | 14.8% | 13% | 9.7% | 31.1% | 18.3% | 10.4% | 2.8% | 2.5% |
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.