Consolidated figures
| Ratio | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 62.7% | 19% | 17.9% | 13.5% | 13.1% | 14.8% | 15.5% | 18.9% |
| EBITDA margin % | 4.2% | 6.2% | 9.1% | 4.1% | 4.9% | 6.1% | 6.6% | 11.3% |
| EBIT margin % | 3.7% | 4.4% | 7.1% | 2.9% | 3.8% | 5% | 5.6% | 10.4% |
| PAT margin % | 1.2% | 1.2% | 3.2% | 1.1% | 1.7% | 2.4% | 2.6% | 6.3% |
| Working capital | ||||||||
| Receivable days | 0 | — | 1 | 0 | 0 | 3 | 0 | 0 |
| Inventory days | 572 | — | 326 | 276 | 214 | 223 | 241 | 249 |
| Payable days | 44 | — | 46 | 46 | 36 | 20 | 27 | 24 |
| NWC days | 529 | — | 280 | 230 | 178 | 205 | 215 | 226 |
| Leverage | ||||||||
| Current ratio | 1.46 | — | 1.67 | 1.49 | 1.55 | 1.66 | 1.55 | 1.65 |
| Debt to EBITDA | 7.37 | — | 2.89 | 6.65 | 4.18 | 3.83 | 4.05 | 2.18 |
| Debt to equity | 1.2 | — | 0.67 | 0.96 | 0.87 | 0.89 | 1.07 | 0.94 |
| Interest coverage | 1.8 | 1.5 | 2.3 | 1.7 | 2.2 | 2.4 | 2.7 | 4.9 |
| Asset turnover | 1.47 | — | 1.1 | 1.27 | 1.62 | 1.58 | 1.48 | 1.52 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | — | 3.6% | 1.4% | 2.7% | 3.7% | 3.9% | 9.6% |
| Return on capital employed % | 15.6% | — | 18.5% | 10.5% | 15.7% | 18.4% | 21.3% | 39.9% |
| Return on equity % | 4.7% | — | 8.3% | 3.8% | 7.2% | 9% | 10.4% | 24.1% |
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.