Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 30% | 39.9% | 40% | 42.1% | 39.1% |
| EBITDA margin % | 8.7% | 7.3% | 4.3% | 3.2% | 2.7% |
| EBIT margin % | 7.5% | 5.8% | 2.1% | 1.1% | 0.4% |
| PAT margin % | 5.4% | 3.9% | 0.9% | 0.2% | 1.4% |
| Working capital | |||||
| Receivable days | 63 | 62 | 74 | 60 | 65 |
| Inventory days | 101 | 162 | 167 | 166 | 139 |
| Payable days | 51 | 52 | 49 | 38 | 42 |
| NWC days | 113 | 172 | 191 | 189 | 162 |
| Leverage | |||||
| Current ratio | 1.05 | 2.69 | 2.18 | 2.06 | 2.58 |
| Debt to EBITDA | 4.34 | 3.61 | 6.54 | 6.95 | 6.9 |
| Debt to equity | 1.27 | 0.29 | 0.35 | 0.32 | 0.23 |
| Interest coverage | 5.4 | 3.3 | 1.4 | 1.1 | 2.3 |
| Asset turnover | 1.17 | 0.76 | 0.83 | 1.01 | 0.89 |
| Return ratios | |||||
| Return on assets % | 6.4% | 3% | 0.7% | 0.2% | 1.2% |
| Return on capital employed % | 22.8% | 11.6% | 4.8% | 3.8% | 5.5% |
| Return on equity % | 18.2% | 4.3% | 1.1% | 0.3% | 1.7% |
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.