Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 88% | 83.8% | 87.5% | 89.9% | 90.1% | 90.2% | 91% |
| EBITDA margin % | 16.5% | 14.9% | -13.7% | 16.6% | 31.1% | 25.9% | 22.9% | 3.6% |
| EBIT margin % | 9.5% | 5.7% | -37.6% | 2.5% | 24.1% | 19.1% | 16.4% | 3.6% |
| PAT margin % | 6.4% | 2.5% | -49.5% | 19.3% | 18.7% | 17.3% | 14.9% | 8.7% |
| Working capital | ||||||||
| Receivable days | 33 | 41 | 43 | 55 | 44 | 41 | 43 | 36 |
| Inventory days | 5 | 33 | 52 | 41 | 31 | 32 | 32 | 32 |
| Payable days | — | — | 1,102 | 807 | 507 | 410 | 385 | 425 |
| NWC days | — | — | -1,006 | -712 | -431 | -336 | -310 | -357 |
| Leverage | ||||||||
| Current ratio | 0.87 | 0.78 | 0.64 | 1.06 | 1.45 | 1.14 | 1.22 | 1.06 |
| Debt to EBITDA | 2.72 | 2.87 | — | 3.5 | 0.92 | 0.88 | 1.37 | 7.03 |
| Debt to equity | 0.51 | 0.51 | 0.78 | 0.64 | 0.44 | 0.35 | 0.43 | 0.38 |
| Interest coverage | 2.6 | 1.7 | -1.4 | 1.3 | 5 | 4.1 | 4.6 | — |
| Asset turnover | 0.05 | 0.05 | 0.19 | 0.38 | 0.62 | 0.62 | 0.59 | 0.37 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | 0.1% | -9.6% | 7.4% | 11.6% | 10.8% | 8.8% | 3.2% |
| Return on capital employed % | 1.8% | 0.8% | -1.2% | 6.9% | 25.3% | 20.8% | 18.5% | 5.4% |
| Return on equity % | 7.4% | 3% | -28.5% | 21.4% | 28.5% | 26.6% | 20.6% | 12.9% |
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.