Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 49.3% | 53.1% | 40.8% | 50% | 51.1% | 52.6% | 45.6% | 36.2% |
| EBITDA margin % | 12.6% | 17% | -10.6% | 11.2% | 15.1% | 8.6% | 3.8% | -13% |
| EBIT margin % | 11.7% | 12.1% | -23.2% | 5.8% | 11.5% | 4.2% | -1.7% | -19.8% |
| PAT margin % | 8.1% | 6.5% | -15.8% | 5.2% | 7.3% | 2.4% | -3.2% | -18.2% |
| Working capital | ||||||||
| Receivable days | 61 | 57 | 88 | 62 | 45 | 53 | 62 | 53 |
| Inventory days | 213 | 203 | 301 | 293 | 210 | 314 | 215 | 146 |
| Payable days | — | — | 154 | 160 | 111 | 140 | 119 | 138 |
| NWC days | — | — | 235 | 195 | 145 | 228 | 158 | 60 |
| Leverage | ||||||||
| Current ratio | 1.91 | 1.89 | 1.86 | 1.77 | 1.62 | 1.31 | 1.28 | 0.96 |
| Debt to EBITDA | 0.38 | 0.11 | — | 0.85 | 0.58 | 2.75 | 5.05 | — |
| Debt to equity | 0.15 | 0.05 | 0.3 | 0.22 | 0.28 | 0.79 | 0.67 | 1.42 |
| Interest coverage | 145.3 | 9.6 | -3.2 | 4.5 | 9 | 1.9 | -0.4 | -4.9 |
| Asset turnover | 1.67 | 1.38 | 0.56 | 1.05 | 1.47 | 1.09 | 1.17 | 1.16 |
| Return ratios | ||||||||
| Return on assets % | 13.6% | 9% | -8.9% | 5.4% | 10.8% | 2.6% | -3.7% | -21.1% |
| Return on capital employed % | 36.3% | 31.4% | -12.7% | 15.8% | 34.2% | 12% | -2.7% | -46.8% |
| Return on equity % | 25% | 18.3% | -18.9% | 12% | 23.7% | 8% | -11.2% | -116.8% |
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.