Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 79% | 76.3% | 80.4% | 78.7% | 75% | 76% | 77.1% | 76.1% |
| EBITDA margin % | 3.7% | -3.5% | 3.8% | 6.3% | 5.6% | 6.3% | 8% | 8% |
| EBIT margin % | 1.3% | -5.7% | 1.5% | 4.4% | 4.2% | 5.2% | 7.1% | 6.5% |
| PAT margin % | -10.5% | 18.2% | -2.7% | 2.5% | 6.1% | 4.7% | 7.2% | 0.4% |
| Working capital | ||||||||
| Receivable days | — | — | 47 | 48 | 50 | 52 | 47 | 88 |
| Inventory days | — | — | 95 | 69 | 69 | 52 | 83 | 117 |
| Payable days | — | — | 195 | 164 | 76 | 62 | 74 | 98 |
| NWC days | — | — | -53 | -46 | 42 | 41 | 56 | 107 |
| Leverage | ||||||||
| Current ratio | — | — | 0.66 | 0.96 | 1.27 | 2.3 | 2.81 | 2.5 |
| Debt to EBITDA | — | — | 12.98 | 5.22 | 1.85 | 0.64 | 0.17 | 5.47 |
| Debt to equity | — | — | -12.6 | 4.38 | 0.52 | 0.18 | 0.05 | 0.77 |
| Interest coverage | 0.1 | -0.4 | 0.5 | 1.5 | 2.8 | 6.3 | 19.9 | 3.2 |
| Asset turnover | — | — | 1.4 | 1.77 | 2.44 | 2.86 | 2.62 | 0.85 |
| Return ratios | ||||||||
| Return on assets % | — | — | -3.8% | 4.5% | 14.8% | 13.4% | 18.9% | 0.3% |
| Return on capital employed % | — | — | 6.5% | 16.8% | 19.5% | 24.7% | 28% | 11.7% |
| Return on equity % | — | — | 68.9% | 33.8% | 31% | 21.1% | 26% | 0.7% |
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.