Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 35.4% | 96.4% | 91.8% | 91.4% | 92.8% | 91.2% | 93.1% | 86.3% |
| EBITDA margin % | 21.7% | 27.3% | 21.3% | 17.5% | 14% | 17.6% | 21.3% | 21% |
| EBIT margin % | 13.5% | 18.2% | 12.9% | 10.3% | 7.7% | 11.4% | 15% | 13.3% |
| PAT margin % | 9.1% | 4.5% | 4.4% | 5% | 6.9% | 7% | 7.3% | 8.2% |
| Working capital | ||||||||
| Receivable days | 50 | 56 | 76 | 70 | 62 | 44 | 32 | 26 |
| Inventory days | 31 | 607 | 259 | 419 | 361 | 297 | 370 | 217 |
| Payable days | 107 | 1,766 | 982 | 1,037 | 679 | 627 | 716 | 304 |
| NWC days | -26 | -1,103 | -646 | -547 | -255 | -286 | -315 | -61 |
| Leverage | ||||||||
| Current ratio | 0.31 | 0.45 | 0.52 | 0.56 | 0.63 | 0.66 | 0.64 | 0.78 |
| Debt to EBITDA | 6.52 | 5.61 | 6.23 | 6.34 | 6.36 | 4.59 | 4.17 | 5.43 |
| Debt to equity | 3.21 | 2.47 | 1.93 | 2.12 | 1.7 | 1.53 | 1.62 | 1.8 |
| Interest coverage | 1.2 | 1.3 | 1.2 | 1.4 | 1.3 | 1.9 | 2.4 | 1.9 |
| Asset turnover | 0.36 | 0.32 | 0.33 | 0.38 | 0.43 | 0.44 | 0.42 | 0.36 |
| Return ratios | ||||||||
| Return on assets % | 3.3% | 1.5% | 1.5% | 1.9% | 3% | 3.1% | 3% | 2.9% |
| Return on capital employed % | 10% | 10.7% | 7.1% | 7.5% | 7.2% | 9.7% | 10.8% | 8.1% |
| Return on equity % | 20.7% | 7.3% | 6.4% | 9.6% | 13.2% | 13.2% | 13.3% | 13% |
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.