Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 54.2% | 49.1% | 54.3% | 52.3% | 53.6% | ||
| 61.4% |
| 66.3% |
| EBITDA margin % | 5.3% | 6.3% | -24% | 13.6% | 22.2% | 27.1% | 35.6% |
| EBIT margin % | -4.2% | -2% | -39.5% | 6.9% | 17.3% | 21.9% | 32.2% |
| PAT margin % | 0% | 7.4% | -19.9% | 5.3% | 13.4% | 18.9% | 28.5% |
| Working capital | |||||||
| Receivable days | — | 129 | 83 | 43 | 86 | 142 | 81 |
| Inventory days | — | 287 | 837 | 414 | 246 | 337 | 161 |
| Payable days | — | 52 | 102 | 75 | 21 | 79 | 71 |
| NWC days | — | 364 | 818 | 382 | 311 | 400 | 172 |
| Leverage | |||||||
| Current ratio | — | 11.08 | 7.76 | 5.42 | 9.49 | 6.87 | 7.39 |
| Debt to EBITDA | — | 0 | — | 0.39 | 0.17 | 0.12 | 0.07 |
| Debt to equity | — | 0 | 0 | 0.05 | 0.03 | 0.03 | 0.02 |
| Interest coverage | -3 | 211 | -119.3 | 45.8 | 56.3 | 61.8 | 170.1 |
| Asset turnover | — | 0.59 | 0.38 | 0.79 | 0.79 | 0.71 | 0.76 |
| Return ratios | |||||||
| Return on assets % | — | 4.3% | -7.6% | 4.2% | 10.6% | 13.4% | 21.7% |
| Return on capital employed % | — | 6.2% | -10.9% | 7% | 19.2% | 22.3% | 40% |
| Return on equity % | — | 4.7% | -8.5% | 5.1% | 12% | 15.6% | 25.1% |
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.