Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 69% | 81.9% | 92.3% | 78.1% | 93.3% | 75.5% | — | 95.3% |
| EBITDA margin % | 19.6% | 29.7% | 32% | 32.6% | 11.2% | 9% | 7.3% | 6% |
| EBIT margin % | 17.8% | 27.8% | 28.2% | 29.9% | 9.1% | 6.4% | 5.1% | 3.9% |
| PAT margin % | 8.6% | 7.5% | 3% | 4.3% | 3.2% | 1.6% | 2.3% | 3.7% |
| Working capital | ||||||||
| Receivable days | 36 | 36 | 34 | 47 | 17 | 19 | 17 | 19 |
| Inventory days | 2,230 | 3,596 | 16,112 | 4,667 | 14,522 | 4,514 | 1,097 | 19,036 |
| Payable days | — | — | 1,655 | 273 | 992 | 297 | 55 | 1,228 |
| NWC days | — | — | 14,491 | 4,441 | 13,547 | 4,237 | 1,059 | 17,827 |
| Leverage | ||||||||
| Current ratio | 1.1 | 1.14 | 1.13 | 1.14 | 1.11 | 1.08 | 1.25 | 1.14 |
| Debt to EBITDA | 3.63 | 2.78 | 4.45 | 2.82 | 5.42 | 6.91 | 3.84 | 3.23 |
| Debt to equity | 1.1 | 1.28 | 1.24 | 1.03 | 0.8 | 0.76 | 0.25 | 0.21 |
| Interest coverage | 2.9 | 1.6 | 1.1 | 1.2 | 1.6 | 1.3 | 1.7 | 2.9 |
| Asset turnover | 0.32 | 0.34 | 0.19 | 0.24 | 0.26 | 0.23 | 0.23 | 0.27 |
| Return ratios | ||||||||
| Return on assets % | 2.8% | 2.6% | 0.6% | 1% | 0.8% | 0.4% | 0.5% | 1% |
| Return on capital employed % | 24.6% | 44.8% | 24.4% | 32% | 13.2% | 9.9% | 7.5% | 7.4% |
| Return on equity % | 13.3% | 11.6% | 2.6% | 4.8% | 4.2% | 2% | 2.1% | 4.1% |
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.