Consolidated figures
| Ratio | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin % | 38.2% | 43.9% | 36.9% | 24.2% | 28.5% | 34% | 32.9% |
| EBITDA margin % | 12.1% | 17.5% | 8.8% | 1.1% | 4.3% | 10% | 9.3% |
| EBIT margin % | 9.2% | 14.4% | 6% | -1.9% | 0.5% | 6.7% | 5.8% |
| PAT margin % | 8.1% | 11.3% | 3.5% | -3.7% | 3.7% | 3% | 3.3% |
| Working capital | |||||||
| Receivable days | 71 | 101 | 80 | 77 | 105 | 96 | 94 |
| Inventory days | 61 | 112 | 148 | 82 | 102 | 85 | 127 |
| Payable days | 1 | 6 | 11 | 78 | 95 | 109 | 135 |
| NWC days | 131 | 207 | 216 | 82 | 111 | 73 | 85 |
| Leverage | |||||||
| Current ratio | 2.82 | 1.79 | 1.62 | 1.12 | 1.15 | 1.21 | 1.25 |
| Debt to EBITDA | 0.47 | 1.01 | 2.38 | 34.03 | 10.8 | 2.93 | 2.83 |
| Debt to equity | 0.08 | 0.22 | 0.36 | 0.82 | 0.84 | 0.65 | 0.52 |
| Interest coverage | 7.5 | 21.2 | 5.4 | -0.3 | 0.4 | 2.5 | 3.1 |
| Asset turnover | 1.02 | 0.73 | 0.88 | 0.92 | 0.74 | 0.95 | 0.89 |
| Return ratios | |||||||
| Return on assets % | 8.2% | 8.2% | 3.1% | -3.4% | 2.7% | 2.9% | 2.9% |
| Return on capital employed % | 11.1% | 15.2% | 8.2% | -1.1% | 1.4% | 11.5% | 10.4% |
| Return on equity % | 11.3% | 14% | 6% | -8.4% | 6.6% | 6.6% | 6.6% |
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.