Consolidated figures
| Ratio | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 60% | 60.7% | 62.6% | 63.9% | 69.9% | 70.3% | 70.1% | 69.9% |
| EBITDA margin % | — | — | — | — | 16.4% | 15.4% | 12.8% | 12.8% |
| EBIT margin % | — | — | — | — | 9.7% | 7.8% | 4.6% | 4.2% |
| PAT margin % | 0.3% | -1.3% | 1.1% | 2.9% | 4.9% | 2.9% | 0.5% | 1.2% |
| Working capital | ||||||||
| Receivable days | 2 | 2 | 2 | 3 | 2 | — | — | — |
| Inventory days | 30 | 30 | 29 | 30 | 38 | 32 | 40 | 32 |
| Payable days | — | — | — | — | — | — | — | — |
| NWC days | — | — | — | — | — | — | — | — |
| Leverage | ||||||||
| Current ratio | 0.7 | 0.5 | 0.32 | 0.43 | — | — | — | — |
| Debt to EBITDA | — | — | — | — | 0.55 | 0.65 | 0.96 | 0.89 |
| Debt to equity | 0.24 | 0.35 | 0.34 | 0.4 | 0.37 | 0.41 | 0.51 | 0.48 |
| Interest coverage | -3.2 | -2.8 | -3.3 | -3.6 | 2.6 | 1.9 | 1.1 | 1 |
| Asset turnover | 0.99 | 1.06 | 1.22 | 1.37 | 1.09 | 1.05 | 0.96 | 0.93 |
| Return ratios | ||||||||
| Return on assets % | 0.3% | -1.4% | 1.4% | 3.9% | 5.3% | 3% | 0.5% | 1.1% |
| Return on capital employed % | -8.8% | -8.1% | -9.2% | -11.3% | — | — | — | — |
| Return on equity % | 0.5% | -2.3% | 2.4% | 6.9% | 19.7% | 11.8% | 2% | 5.2% |
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.