Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 13.9% | 13.8% | 14.5% | 16.6% | 16.8% |
| EBITDA margin % | 2.5% | 2.9% | 3.3% | 3.3% | 2.7% |
| EBIT margin % | 1.9% | 2.6% | 3% | 3% | 2.4% |
| PAT margin % | 2.5% | 2.1% | 1.9% | 2.2% | 1.5% |
| Working capital | |||||
| Receivable days | 116 | 86 | 86 | 113 | 115 |
| Inventory days | 81 | 54 | 73 | 114 | 110 |
| Payable days | 37 | 34 | 35 | 47 | 36 |
| NWC days | 160 | 107 | 123 | 180 | 190 |
| Leverage | |||||
| Current ratio | 2.38 | 2.12 | 2.33 | 2.25 | 2.93 |
| Debt to EBITDA | 8.64 | 5.32 | 4.24 | 6.29 | 6.53 |
| Debt to equity | 0.45 | 0.53 | 0.44 | 0.49 | 0.34 |
| Interest coverage | 18.6 | 23.5 | 4.5 | 3.6 | 2.7 |
| Asset turnover | 1.24 | 1.82 | 1.79 | 1.3 | 1.23 |
| Return ratios | |||||
| Return on assets % | 3.1% | 3.9% | 3.3% | 2.8% | 1.8% |
| Return on capital employed % | 5.1% | 9.1% | 9.2% | 8.5% | 5.5% |
| Return on equity % | 5.3% | 7.1% | 5.8% | 5.1% | 2.8% |
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.