Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross margin % | 70.7% | 19.9% | 27.9% | 26.4% | 22.5% | 21.8% |
| EBITDA margin % | 53.9% | 14.6% | 23.9% | 23.6% | 19.5% | 19.2% |
| EBIT margin % | 40.8% | 12.3% | 23% | 22.9% | 19.1% | 19% |
| PAT margin % | -18.3% | 5.5% | 15.8% | 16.6% | 14.3% | 14.4% |
| Working capital | ||||||
| Receivable days | 174 | 105 | 64 | 155 | 114 | 128 |
| Inventory days | 44 | 5 | 53 | 17 | 2 | 16 |
| Payable days | 578 | 164 | 108 | 168 | 69 | 108 |
| NWC days | -361 | -54 | 9 | 3 | 47 | 37 |
| Leverage | ||||||
| Current ratio | 1.81 | 1.03 | 0.84 | 1.31 | 1.32 | 1.35 |
| Debt to EBITDA | 16.76 | 1.78 | 0.47 | 0.2 | 0.09 | 0.13 |
| Debt to equity | 5.26 | 1.4 | 0.46 | 0.16 | 0.06 | 0.09 |
| Interest coverage | 1.8 | 4.1 | 15.5 | 30.3 | 21.5 | 49.1 |
| Asset turnover | 0.06 | 0.96 | 1.24 | 1.23 | 1.43 | 1.4 |
| Return ratios | ||||||
| Return on assets % | -1.2% | 5.3% | 19.6% | 20.3% | 20.4% | 20.2% |
| Return on capital employed % | 4.4% | 22.1% | 79% | 96.3% | 79.6% | 84.1% |
| Return on equity % | -10.6% | 29.7% | 65% | 58.9% | 50.3% | 51.2% |
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.