Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 57.4% | 56.8% | 52.3% | 63.7% | 63.5% | 71.5% | 64.3% | 66.1% |
| EBITDA margin % | 8.8% | 8% | -1.9% | 11.5% | 14.6% | 14.5% | 9.1% | 10.6% |
| EBIT margin % | 5.8% | 2.7% | -11% | 7.6% | 11.7% | 11.4% | 1.6% | 3.8% |
| PAT margin % | 2.7% | 3.1% | -8.8% | 4.3% | 6.5% | 23.2% | 392.2% | 242.4% |
| Working capital | ||||||||
| Receivable days | 70 | 65 | 101 | 52 | 33 | 57 | 76 | 86 |
| Inventory days | 247 | 287 | 363 | 328 | 304 | 498 | 220 | 237 |
| Payable days | 1 | 2 | 258 | 280 | 206 | 293 | 133 | 168 |
| NWC days | 316 | 350 | 206 | 100 | 131 | 263 | 163 | 155 |
| Leverage | ||||||||
| Current ratio | 0.97 | 1.03 | 1.26 | 1.29 | 1.35 | 1.66 | 2.12 | 1.73 |
| Debt to EBITDA | 3.72 | 4.21 | — | 2.91 | 1.77 | 2.62 | 4.2 | 4.25 |
| Debt to equity | 1.1 | 0.91 | 0.99 | 0.88 | 0.73 | 0.74 | 0.2 | 0.35 |
| Interest coverage | 2.2 | 0.9 | -0.6 | 2.8 | 4.2 | 3.4 | 2.9 | 2.2 |
| Asset turnover | 0.99 | 0.84 | 0.51 | 0.84 | 1 | 0.68 | 0.25 | 0.47 |
| Return ratios | ||||||||
| Return on assets % | 2.6% | 2.6% | -4.5% | 3.6% | 6.6% | 15.9% | 99% | 113.2% |
| Return on capital employed % | 19.5% | 9.1% | -4.9% | 16.6% | 25.9% | 19.6% | 2.4% | 3.5% |
| Return on equity % | 8.9% | 8.5% | -14.5% | 11.2% | 18.5% | 45.2% | 205.5% | 188.5% |
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.