Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 50.1% | 46% | 40.8% | 44.8% | 42.7% | 43.8% | 43.5% | 43.9% |
| EBITDA margin % | 8.7% | 15.6% | 6.6% | 12.8% | 13% | 15.5% | 16.1% | 18.3% |
| EBIT margin % | 6.7% | 8.5% | -3.3% | 5.8% | 7% | 10.1% | 10.9% | 11.5% |
| PAT margin % | 3.6% | 3% | -7% | 0.8% | 4.8% | 11.9% | 9% | 8.6% |
| Working capital | ||||||||
| Receivable days | 31 | 22 | 3 | 148 | 2 | 2 | 1 | 1 |
| Inventory days | 138 | 118 | 102 | 12,767 | 105 | 83 | 77 | 74 |
| Payable days | 133 | 100 | 65 | 5,562 | 51 | 41 | 35 | 39 |
| NWC days | 37 | 40 | 40 | 7,353 | 55 | 45 | 43 | 36 |
| Leverage | ||||||||
| Current ratio | 1.53 | 3.5 | 1.85 | 2.72 | 2.17 | 2.02 | 1.82 | 1.26 |
| Debt to EBITDA | 1.73 | 0.55 | 0 | 86.65 | 0.46 | 0.26 | 0.18 | 0.14 |
| Debt to equity | 0.24 | 0.13 | 0 | 0.21 | 0.19 | 0.12 | 0.09 | 0.07 |
| Interest coverage | 5.9 | 1.8 | 0.5 | 1.4 | 2.3 | 4.8 | 15 | 14.4 |
| Asset turnover | 1.03 | 0.63 | 0.45 | 0.01 | 1.02 | 1.73 | 1.82 | 1.71 |
| Return ratios | ||||||||
| Return on assets % | 3.7% | 1.9% | -3.2% | 0% | 4.9% | 20.6% | 16.3% | 14.7% |
| Return on capital employed % | 11.7% | 12.6% | 2.3% | 0.1% | 12% | 24.4% | 32% | 30.5% |
| Return on equity % | 5.8% | 4.4% | -7.8% | 0% | 15.2% | 36.3% | 28.1% | 24.6% |
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.