Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.9% | 62.2% | 63.5% | 55.1% | 33% | 8.7% | 26.1% | 19.6% |
| EBITDA margin % | 6.9% | 11.7% | 4.4% | 9.4% | 10.7% | -27.2% | -2.5% | 3.3% |
| EBIT margin % | 6.2% | 10.2% | 2.6% | 8.1% | 10% | -28.6% | -3.5% | 2.7% |
| PAT margin % | 6.3% | 10.1% | 2% | 7.3% | 7.5% | -25% | -3.4% | 3% |
| Working capital | ||||||||
| Receivable days | 85 | 151 | 200 | — | 76 | 98 | 102 | 55 |
| Inventory days | 46 | 138 | 348 | — | 74 | 0 | 5 | 4 |
| Payable days | — | — | — | — | 67 | 135 | 110 | 91 |
| NWC days | — | — | — | — | 84 | -37 | -3 | -32 |
| Leverage | ||||||||
| Current ratio | 3.25 | 2.63 | 1.98 | — | 1.93 | 1.47 | 1.31 | 1.44 |
| Debt to EBITDA | 1.14 | 0.9 | 5.74 | — | 0.71 | — | — | 3.2 |
| Debt to equity | 0.1 | 0.09 | 0.18 | — | 0.15 | 0.2 | 0.53 | 0.31 |
| Interest coverage | 9.4 | 22.5 | 3.2 | 4.4 | 10.7 | -17 | -0.3 | 2.3 |
| Asset turnover | 0.88 | 0.6 | 0.43 | — | 1.04 | 0.64 | 0.78 | 1.18 |
| Return ratios | ||||||||
| Return on assets % | 5.5% | 6.1% | 0.8% | — | 7.8% | -16.1% | -2.6% | 3.5% |
| Return on capital employed % | 9.3% | 11.3% | 4.6% | — | 20.6% | -18.1% | -2.1% | 13.6% |
| Return on equity % | 8.2% | 9.2% | 1.4% | — | 14.3% | -40.2% | -7.9% | 8.9% |
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.