Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 86.5% | 80.7% | 82.5% | 85.9% | 81.1% | 83.6% | 80.9% | 81% |
| EBITDA margin % | 14% | 15.8% | 29.2% | 17.3% | 6.9% | 9.8% | 6.3% | 11% |
| EBIT margin % | 9.1% | 9.1% | 23.3% | 11.5% | -0.1% | 1.3% | -4% | 2% |
| PAT margin % | 2.4% | 2.3% | 13.5% | 3.7% | 0.4% | -2.1% | -9.6% | -0% |
| Working capital | ||||||||
| Receivable days | 31 | — | 27 | 27 | 22 | 30 | 33 | 31 |
| Inventory days | 239 | — | 189 | 338 | 234 | 273 | 232 | 227 |
| Payable days | 344 | — | 349 | 358 | 267 | 460 | 490 | 251 |
| NWC days | -74 | — | -133 | 7 | -11 | -157 | -225 | 7 |
| Leverage | ||||||||
| Current ratio | 0.8 | — | 1.15 | 0.96 | 0.98 | 0.86 | 0.58 | 0.63 |
| Debt to EBITDA | 2.94 | — | 2.01 | 5.45 | 9.61 | 5.85 | 10.25 | 5.85 |
| Debt to equity | 0.57 | — | 0.68 | 1.2 | 0.9 | 0.74 | 0.84 | 1.01 |
| Interest coverage | 1.8 | 1.8 | 7 | 2.1 | 1.1 | 0.5 | -0.4 | 0.4 |
| Asset turnover | 0.69 | — | 0.54 | 0.47 | 0.58 | 0.57 | 0.54 | 0.59 |
| Return ratios | ||||||||
| Return on assets % | 1.7% | — | 7.3% | 1.8% | 0.2% | -1.2% | -5.2% | -0% |
| Return on capital employed % | 8.7% | — | 16.1% | 8.5% | 7.8% | 2.7% | -2.2% | 2.4% |
| Return on equity % | 3.4% | — | 15.6% | 4.7% | 0.5% | -2.7% | -12.6% | -0% |
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.