Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 51.3% | 59.2% | 59.8% | 51.1% | 55.9% | 59.5% | 56.6% | 59.7% |
| EBITDA margin % | 15.1% | 18.8% | 19.2% | -0.7% | 11.7% | 18.4% | 17.6% | 19% |
| EBIT margin % | 9.4% | 12.4% | 12.9% | -8.2% | 5.1% | 12.9% | 13.4% | 14.9% |
| PAT margin % | 11% | 1.1% | 7.8% | -15.5% | -5.8% | -2.3% | 78.8% | 11.8% |
| Working capital | ||||||||
| Receivable days | 120 | 124 | 122 | 144 | 129 | 103 | 96 | 97 |
| Inventory days | 218 | 254 | 329 | 285 | 257 | 251 | 236 | 305 |
| Payable days | 1 | 6 | 311 | 260 | 220 | 189 | 190 | 244 |
| NWC days | 336 | 372 | 140 | 168 | 165 | 164 | 141 | 157 |
| Leverage | ||||||||
| Current ratio | 1.15 | 0.93 | 1.03 | 0.99 | 1.05 | 1.03 | 1.2 | 1.25 |
| Debt to EBITDA | 6.92 | 3.55 | 3.31 | — | 6.45 | 3.25 | 2.24 | 1.8 |
| Debt to equity | 1.19 | 0.73 | 0.76 | 1.18 | 1.25 | 1.14 | 0.7 | 0.54 |
| Interest coverage | 1.6 | 2.5 | 3.2 | -0.7 | 1.1 | 1.8 | 2.7 | 4.9 |
| Asset turnover | 0.38 | 0.45 | 0.47 | 0.44 | 0.56 | 0.69 | 0.75 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | 4.1% | 0.5% | 3.7% | -6.8% | -3.2% | -1.6% | 59.5% | 8.3% |
| Return on capital employed % | 6.3% | 8.9% | 12.2% | -3.1% | 7.7% | 17% | 20.9% | 23.3% |
| Return on equity % | 12.5% | 1.2% | 9.3% | -20.1% | -9.6% | -4.4% | 141% | 18.5% |
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.